Slide 1: Q2 2026 Earnings Presentation
Q2 2026 Earnings Presentation August 6, 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 delivered a strong second quarter as Monthly Unique Payers increased 9% year-over-year, and Sports Consumer Volume increased 1 15% year-over-year Our core business is on track to generate approximately $1B in Adj. EBITDA(1) in FY 2026; including expected Predictions in
Slide 4: We acquired customers efficiently and drove strong Sports Consumer Volume growth in Q2
We acquired customers efficiently and drove strong Sports Consumer Volume growth in Q2 Q2 2025 Q2 2026 +73% -8% +15% Customers Acquired Customer Acquisition Cost(1) Sports Consumer Volume (1) Customer Acquisition Cost is calculated using external marketing costs divided by customer acquisition. | 4
Slide 5: Our Predictions offering is building momentum as we approach NFL season
Our Predictions offering is building momentum as we approach NFL season Annualized Volume Traded(1) (Billions of Dollars) $11.0 Annualized Market Maker Volume Traded Annualized Consumer Volume Traded Annualized Total Volume Traded $9.1 $7.4 $6.2 $3.1 $2.3 $1.8 $1.6 $1.3 $3.6 $0.9 $2.8 $0.9 $0.6 $0.1
Slide 6: We have executed against the roadmap we laid out at Investor Day
We have executed against the roadmap we laid out at Investor Day DRAFTKINGS SUPER APP IN-HOUSE PREDICTIONS PREDICTIONS COMBOS FCM LAUNCH EMBED 2026 PREDICTIONS ROADMAP PRE-NFL KICKOFF CRYPTO.COM MARKET PROPRIETARY SUPER APP INTEGRATION MAKING EXCHANGE UPGRADE | 6
Slide 7: We are running the same vertical integration playbook in Predictions
We are running the same vertical integration playbook in Predictions that built our top-ranked Sportsbook Stage 2: Stage 3: Stage 1: Foundational Capabilities & Vertical Differentiation & Customer Critical Competitive Investments Integration Obsession → Launched Sportsbook on 3rd party platform → Ac
Slide 8: Appendix
APPENDIX
Slide 9: Our Sports Consumer Volume continues to increase on a YoY basis
Our Sports Consumer Volume continues to increase on a YoY basis Millions of Dollars $16,801 Sports Consumer Volume Sports Revenue $14,902 Sports Net Revenue Margin $14,202 $13,880 $12,943 $13,140 $12,001 $11,475 $11,402 $10,793 $10,365 $8,842 $8,190 $8,292 $7,359 $4,509 $4,553 $998 $1,351 $1,095 $76
Slide 10: Our iGaming revenue is strong and continues to grow on a YoY basis
Our iGaming revenue is strong and continues to grow on a YoY basis Millions of Dollars $500 $461 $462 $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
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 10.5 Unique Customers including Jackpocket 10.1 Unique Customers excluding Jackpocket 9.3 9.5 9.2 9.1 8.4 9.0 8.8 8.7 8.6 8.3 7.5 7.8 7.1 6.6 6.2 6.0 5.2 4.9 4.4 4.
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 Expense, which are non-GAAP financial measures that DraftKings uses to supplement its results presented in accordance with GAAP. The Comp
Slide 13: Reconciliation of GAAP Expenses to Non-GAAP Expenses
Reconciliation of GAAP Expenses to Non-GAAP Expenses Millions of Dollars 30-Jun-26 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 $892 $949 $1,075 $784 $855 $844 $835 $742 $663 $710 GAAP Operating Expenses: Sales and Marketing
Slide 14: Reconciliation of Net Income (Loss) to Adjusted EBITDA
Reconciliation of Net Income (Loss) to Adjusted EBITDA Three Months Ended June 30, Thousands of Dollars 2026 2025 Revenue $ 1,443,235 $ 1,512,507 Cost of revenue 891,782 854,559 Sales and marketing 322,536 233,187 Product and technology 127,649 108,417 Adjusted EBITDA General and administrative 16
Slide 15: Reconciliation of Adjusted Diluted Earnings Per Share
Reconciliation of Adjusted Diluted Earnings Per Share Dollars $0.03 ($0.05) $0.09 $0.08 $0.17 ($0.14) GAAP Diluted EPS Stock-based Compensation Amort. of Acquired Other Non-GAAP Adj.(1) Tax Impact of Adjusting Items Adjusted Diluted EPS(2) Intangible Assets Note: Weighted average number of shares us
Slide 16: DraftKings Share Count Detail
DraftKings Share Count Detail Thousands Common Shares Outstanding (30-Jun-26) 495,978 Vested Stock Options @ TSM(1) 10,956 Memo: Vested Stock Options 15,644 Diluted Shares Outstanding (With Vested Stock Options @ TSM) 506,934 Fully Diluted Shares Outstanding 506,934 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 June 30, who had one or more real-money, paid engagements across one or more of our Sportsbook, iGaming, Fantasy, Lottery,