DraftKings (DKNG) Cost of Revenue (2021 - 2026)
DraftKings (DKNG) recorded Cost of Revenue of $891.78 million in Q2 2026, up 4.4% from $854.56 million a year earlier but down 6.1% from the prior quarter.
Powered by 
Analysis
DraftKings (DKNG) Cost of Revenue (2021 - 2026) Analysis & Trends
On a TTM basis, DraftKings' Cost of Revenue came in at $3.7 billion as of Jun 30, 2026, up 13.0% year-over-year; for FY2025, it was $3.56 billion, up 20.6% from FY2024.
- Annual Cost of Revenue has increased for five straight years, with a five-year compound annual growth rate of 59.3% (FY2020 to FY2025).
- Across earlier years, Cost of Revenue came in at $2.95 billion in FY2024 (+28.7%), $2.29 billion in FY2023 (+54.4%), $1.48 billion in FY2022 (+86.9%) and $794.16 million in FY2021 (+129.1%).
- Quarterly Cost of Revenue has ranged from $170.75 million in Q3 2021 to $1.07 billion in Q4 2025 over the past five years.
- On a year-over-year basis, Cost of Revenue has increased for 18 consecutive quarters, with growth averaging 19.0% over the last eight quarters.
- Over the past five years, the year-over-year growth in Cost of Revenue ranged from 4.4% (Q2 2026) to 118.3% (Q3 2022).
- Per Business Quant, the preceding three quarters came in at $949.39 million (Q1 2026), $1.07 billion (Q4 2025) and $784.08 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | Las Vegas Sands | 25.05 Bn | 11.15 Bn | 1.48 Bn | 1.67 Bn |
| 2 | Flutter Entertainment | 13.32 Bn | 6.69 Bn | 1.71 Bn | 2.61 Bn |
| 3 | Madison Square Garden Sports | 9.77 Bn | 9.37 Bn | 119.21 Mn | 159.53 Mn |
| 4 | DraftKings | 9.57 Bn | 5.23 Bn | 551.45 Mn | 891.78 Mn |
| 5 | Life Time Group Holdings | 9.03 Bn | 8.26 Bn | 412.26 Mn | 453.73 Mn |
| 6 | Wynn Resorts | 7.89 Bn | 2.18 Bn | 758.95 Mn | 1.10 Bn |
| 7 | MGM Resorts International | 7.50 Bn | -1.53 Bn | 1.98 Bn | 2.47 Bn |
| 8 | Light & Wonder | 7.12 Bn | 6.43 Bn | 618.00 Mn | 210.00 Mn |
| 9 | Caesars Entertainment | 5.97 Bn | 2.41 Bn | 1.50 Bn | 1.49 Bn |
| 10 | Churchill Downs | 5.75 Bn | 4.98 Bn | 419.00 Mn | 561.00 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 891.78 Mn |
| Mar 31, 2026 | 949.39 Mn |
| Dec 31, 2025 | 1.07 Bn |
| Sep 30, 2025 | 784.08 Mn |
| Jun 30, 2025 | 854.56 Mn |
| Mar 31, 2025 | 843.80 Mn |
| Dec 31, 2024 | 834.64 Mn |
| Sep 30, 2024 | 742.43 Mn |
| Jun 30, 2024 | 663.41 Mn |
| Mar 31, 2024 | 710.07 Mn |
| Dec 31, 2023 | 716.66 Mn |
| Sep 30, 2023 | 543.45 Mn |
| Jun 30, 2023 | 510.32 Mn |
| Mar 31, 2023 | 521.74 Mn |
| Dec 31, 2022 | 485.44 Mn |
| Sep 30, 2022 | 372.69 Mn |
| Jun 30, 2022 | 312.77 Mn |
| Mar 31, 2022 | 313.38 Mn |
| Dec 31, 2021 | 253.18 Mn |
| Sep 30, 2021 | 170.75 Mn |
API Access
DraftKings Cost of Revenue API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=DKNG&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "cost-of-revenue", "ticker": "DKNG", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=DKNG&period=max&api_key=YOUR_API_KEY");
const data = await res.json();