Q4 22 EPS
$N/A
Est. $-0.59
Q4 22 Revenue
N/A
Est. $800.2M
vs S&P Since Q4 22
-54.2%
TRAILING MARKET
DKNG +22.8% vs S&P +77.0%
Market Reaction
Did DKNG Beat Earnings? Q4 2022 Results
DraftKings capped fiscal 2025 with a standout fourth quarter, doubling Wall Street's earnings expectations and delivering its first full-year GAAP profit as the online betting giant's scale advantages came into sharp focus. The company posted Q4 adju… Read more DraftKings capped fiscal 2025 with a standout fourth quarter, doubling Wall Street's earnings expectations and delivering its first full-year GAAP profit as the online betting giant's scale advantages came into sharp focus. The company posted Q4 adjusted diluted EPS of $0.36, well ahead of the $0.18 consensus estimate, while revenue climbed 42.8% year-over-year to $1.99 billion, edging past the $1.97 billion forecast. The key driver was a meaningful expansion in Sportsbook net revenue margin alongside efficient customer acquisition, which propelled Adjusted EBITDA to $343.20 million in the quarter, nearly four times the year-ago level. For the full year, DraftKings generated $6.05 billion in revenue and $619.99 million in Adjusted EBITDA, while recording a slim but historic positive GAAP net income of $3.71 million. Despite the strong results, shares fell sharply following the report, as investors weighed 2026 guidance of $6.50 billion to $6.90 billion in revenue against planned investment in DraftKings Predictions, a new federally regulated event contracts platform management views as a significant long-term growth opportunity.
Key Takeaways
- • Continued healthy customer engagement
- • Efficient acquisition of new customers
- • Higher Sportsbook net revenue margin
- • 43% increase in Average Revenue per MUP to $139
- • Higher net revenue margin across both Sportsbook and iGaming
DKNG YoY Financials
Q4 2022 vs Q4 2021, source: SEC Filings
DKNG Revenue by Segment
With YoY comparisons, source: SEC Filings
“We closed 2025 on a high note. Fourth quarter revenue increased 43% year-over-year and we achieved records for revenue and Adjusted EBITDA. Our core business is strong as we enter 2026.”
— Jason Robins, Q4 2022 Earnings Press Release
DKNG Earnings Trends
DKNG vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
DKNG EPS Trend
Earnings per share: estimate vs actual
DKNG Revenue Trend
Quarterly revenue: estimate vs actual
DKNG Quarterly Results
7 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q4 25 BEAT FY | $0.18 | $0.36 | +100.00% | $1.99B | +0.80% |
| FY Full Year | $0.79 | $0.66 | -16.28% | $6.05B | +0.26% |
| Q3 25 MISS | $-0.26 | $-0.26 | -1.84% | $1.14B | -4.81% |
| Q2 25 MISS | $0.41 | $0.38 | -6.31% | $1.51B | +6.03% |
| Q1 25 MISS | $0.12 | $0.12 | -2.44% | $1.41B | -1.23% |
| Q1 24 BEAT | $-0.28 | $0.03 | +110.71% | $1.17B | +4.51% |
| Q4 23 BEAT FY | $0.08 | $0.29 | +262.50% | $1.23B | -0.75% |
| FY Full Year | — | $-0.41 | — | $3.67B | — |
| Q4 22 | $-0.59 | — | — | — | — |