Slide 1: Q1 2026 Earnings Presentation
Q1 2026 Earnings Presentation May 7, 2026
Slide 2: Legal Disclaimer
Legal Disclaimer Forward-Looking Statements This presentation contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, including statements about DraftKings Inc. (“DraftKings”,
Slide 3: Current business highlights
Current business highlights We are off to a fantastic start to the year; Q1 revenue increased 17% YoY and surpassed $1.6B while Adjusted EBITDA(1) 1 increased 64% YoY to $168M Sportsbook revenue increased 24% YoY to $1.1B as handle grew and net revenue margin increased 140bps; Parlay 2 handle mix in
Slide 4: We achieved strong revenue and Adjusted EBITDA growth in Q1
We achieved strong revenue and Adjusted EBITDA(1) growth in Q1 Millions of Dollars Q1 2025 Q1 2026 +17% +64% Adjusted EBITDA Margin(1) $1,646 $168 10% $1,409 $103 7% Revenue Adjusted EBITDA (1) Non-GAAP financial measure. Please refer to the end of this document for the definition of such non-GAAP f
Slide 5: We are making significant progress on our Predictions roadmap
We are making significant progress on our Predictions roadmap Q2 2026 Q3 2026 DRAFTKINGS SUPER APP IN-HOUSE PREDICTIONS PREDICTIONS COMBOS FCM LAUNCH EMBED 2026 PREDICTIONS ROADMAP Q2 2026 Q3 2026 CRYPTO.COM MARKET PROPRIETARY SUPER APP INTEGRATION MAKING EXCHANGE UPGRADE | 5
Slide 6: The opportunity ahead in Sports is massive
The opportunity ahead in Sports(1) is massive DraftKings Sports Net Revenue (Millions of Dollars) >95% 52% Percent of the U.S. Population Live with Sports(2) 49% $3,827 46% $2,903 39% $2,106 29% $1,033 $432 2021 2022 2023 2024 2025 2026E 2030E (1) Sports is inclusive of Sportsbook and Sports Predict
Slide 7: Appendix
APPENDIX
Slide 8: We continue to believe Predictions is an incremental opportunity
We continue to believe Predictions is an incremental opportunity Almost All Sports Consumer Volume(1) is on Nearly 70% of Predictions Sports Consumer Sportsbook in Competitive Sportsbook States(2) Volume(3) Comes from States Without Sportsbook 2% 31% 98% 69% Leading Predictions Operator Regulated Sp
Slide 9: Our Sportsbook Handle and Sportsbook revenue continue to increase on a YoY basis
Our Sportsbook Handle and Sportsbook revenue continue to increase on a YoY basis Millions of Dollars $16,796 Sportsbook Handle Sportsbook Revenue $14,902 Sportsbook Net Revenue Margin $13,880 $14,083 $12,943 $12,001 $11,475 $11,402 $10,793 $10,365 $8,842 $8,190 $8,292 $7,359 $6,122 $4,509 $4,553 $99
Slide 10: Our iGaming revenue is continuing to grow on a YoY basis
Our iGaming revenue is continuing to grow on a YoY basis Millions of Dollars $500 $461 $451 $426 $430 $423 $370 $361 $352 $351 $296 $288 $281 $257 $209 $182 $174 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 |
Slide 11: Our unique customers continue to grow on a YoY basis
Our unique customers continue to grow on a YoY basis Unique Customers in the Prior Twelve Months(1) (Millions) 10.8 10.9 10.4 10.4 10.5 10.1 9.3 8.4 7.5 7.1 6.6 6.0 6.2 5.2 4.9 4.4 4.5 4.0 3.8 3.4 3.2 2.6 2.4 1.7 1.7 1.7 1.9 1.7 1.8 1.8 1.9 1.9 1.9 1.9 1.4 0.8 0.9 Q1 Q1 Q1 Q1 Q1 Q1 Q1 Q1 Q1 Q1 2017
Slide 12: Non-GAAP Financial Measures
Non-GAAP Financial Measures This presentation includes Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Diluted Earnings (Loss) Per Share, and Adjusted Operating Expenses, which are non-GAAP financial measures that DraftKings uses to supplement its results presented in accordance with GAAP. The Com
Slide 13: Reconciliation of GAAP Expenses to Non-GAAP Expenses
Reconciliation of GAAP Expenses to Non-GAAP Expenses Millions of Dollars 31-Mar-26 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 30-Sep-24 30-Jun-24 31-Mar-24 GAAP Expenses Cost of Revenue $949 $1,075 $784 $855 $844 $835 $742 $663 $710 GAAP Operating Expenses: Sales and Marketing $402 $443 $360
Slide 14: Reconciliation of Net Income (Loss) to Adjusted EBITDA
Reconciliation of Net Income (Loss) to Adjusted EBITDA Three Months Ended March 31, Thousands of Dollars 2026 2025 Revenue $ 1,646,076 $ 1,408,806 Cost of revenue 949,385 843,803 Sales and marketing 401,734 343,680 Product and technology 123,176 103,260 Adjusted EBITDA General and administrative 1
Slide 15: Reconciliation of Adjusted Diluted Earnings Per Share
Reconciliation of Adjusted Diluted Earnings Per Share Dollars $0.01 ($0.05) $0.07 $0.20 $0.13 $0.03 GAAP Diluted EPS Stock-based Compensation Amort. of Acquired Other Non-GAAP Adj.(1) Tax Impact of Adjusted Diluted EPS(2) Intangible Assets Adjusting Items Note: Weighted average number of shares used
Slide 16: DraftKings Share Count Detail
DraftKings Share Count Detail Thousands Common Shares Outstanding (31-Mar-26) 495,764 Vested Stock Options @ TSM(1) 11,222 Memo: Vested Stock Options 15,843 Diluted Shares Outstanding (With Vested Stock Options @ TSM) 506,986 Fully Diluted Shares Outstanding 506,986 Table is not reflective of GAAP d
Slide 17: Comparison of Monthly Unique Payers and Average Revenue per MUP
Comparison of Monthly Unique Payers and Average Revenue per MUP Monthly Unique Payers (“MUPs”) — We define MUPs as the number of unique paid users per month Three months ended March 31, who had one or more real-money, paid engagements across one or more of our Sportsbook, iGaming, Fantasy, Lottery