DraftKings Inc.
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DraftKings Inc.
Compare market positioning with top industry peers
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Financial Performance
Revenue
$6.1B
Market Cap
$21.5B
Net Income
$3.7M
Employees
4,400
DraftKings reported $6.1B in revenue for fiscal year 2025, up 27% from 2024. Net income was $3.7M.
DraftKings' financial narrative is a story of large, severe 'Customer Acquisition Cost' (CAC) transitioning into profitability. For years, they burned billions of dollars on television advertising and large promotional bonuses (giving away free money) just to acquire users in newly legalized states. Wall Street heavily criticized these large losses. However, the financial strategy is finally working. Once a customer is acquired, they are highly sticky. As advertising costs finally stabilize, DraftKings has crossed the threshold into profitability, generating large revenue from the 'vig' (the small house edge on every bet).
Revenue Trend Analysis
YoY Change
+27%
5-Year CAGR
+58%
Peak Year
2025
Trend
Consistent Growth
DraftKings Inc. has reported revenue across 6 fiscal years, compounding at +58% annually over 5 years. The most recent year saw a 27% increase versus the prior year. Revenue peaked in 2025 at $6.1B. Out of 5 reported periods, 5 showed growth and 0 showed a decline.
| Fiscal Year | Revenue | Net Income | YoY Change | Source |
|---|---|---|---|---|
| FY2025 | $6.1B | $3.7M | +27.0% | DRAFTKINGS INC. annual report (Form 10-K, SEC EDGAR, filed 2026-02-13) Fiscal year ended 2025-12-31. |
| FY2024 | $4.8B | N/A | +30.1% | DRAFTKINGS INC. annual report (Form 10-K, SEC EDGAR, filed 2026-02-13) Fiscal year ended 2024-12-31. |
| FY2023 | $3.7B | N/A | +63.6% | DRAFTKINGS INC. annual report (Form 10-K, SEC EDGAR, filed 2026-02-13) Fiscal year ended 2023-12-31. |
| FY2022 | $2.2B | N/A | +72.9% | DRAFTKINGS INC. annual report (Form 10-K, SEC EDGAR, filed 2025-02-14) Fiscal year ended 2022-12-31. |
| FY2021 | $1.3B | N/A | +110.9% | DRAFTKINGS INC. annual report (Form 10-K, SEC EDGAR, filed 2024-02-16) Fiscal year ended 2021-12-31. |
| FY2020 | $614.5M | N/A | — | DRAFTKINGS INC. annual report (Form 10-K, SEC EDGAR, filed 2023-02-17) Fiscal year ended 2020-12-31. |
Click any row to see year details.
DraftKings Inc. reported revenue of $6.1 billion for fiscal year 2025, up from $4.8 billion in fiscal 2024.
DraftKings achieved full-year positive Adjusted EBITDA profitability in 2024, successfully transitioning from high-growth customer acquisition investment to substantial operating cash flow generation.
DraftKings engages over 3.5 million average Monthly Unique Payers (MUPs), with Average Revenue Per MUP consistently exceeding $110 to $115 per month, reflecting strong user retention and multi-product gaming adoption.
DraftKings maintains a strong balance sheet with over $1.2 billion in cash and cash equivalents, supported by senior convertible notes and zero immediate near-term debt maturities.
In August 2024, DraftKings' Board of Directors authorized the company's first-ever share repurchase program of up to $1.0 billion of Class A common stock, signaling management's confidence in long-term free cash flow generation.
State tax rates vary significantly from 6.75% in Nevada and 10% in New Jersey to 51% in New York and graduated brackets up to 40% in Illinois. DraftKings manages tax burdens through promotional optimization and operating expense discipline.
DraftKings reduced sales and marketing expenses as a percentage of revenue from over 75% in 2020 to under 25% by 2024, demonstrating powerful operating leverage as early state cohorts mature into highly profitable recurring revenue streams.
DraftKings deploys automated Bank Secrecy Act (BSA) and Anti-Money Laundering (AML) monitoring, biometric identity verification (KYC), geolocation verification (GeoComply), and strict transaction velocity limits.
Using these figures? Please credit CorpDigest with a link.
CorpDigest. "DraftKings Inc. Revenue & Financials." CorpDigest, https://corpdigest.com/company/draftkings/financials.<div style="font-family:system-ui,sans-serif;font-size:14px;line-height:1.5;border:1px solid #e2e8f0;border-radius:8px;padding:12px 16px;max-width:520px"><strong>DraftKings Inc. reported $6.1B in revenue (FY2025).</strong><br>Source: <a href="https://corpdigest.com/company/draftkings/financials" target="_blank" rel="noopener">CorpDigest — DraftKings Inc. financials</a></div>