DraftKings (DKNG) Operating Expenses (2021 - 2026)
DraftKings' (DKNG) quarterly Operating Expenses came in at $289.1 million in Q1 2026, down 43.1% year-on-year from $508.1 million in Q1 2025, and down 9.73% on a QoQ basis from $320.3 million in Q4 2025.
DraftKings (DKNG) Operating Expenses (2021 - 2026) Analysis & Trends
DraftKings (DKNG) has 6 years of Operating Expenses data on file, last reported at $289.1 million in Q1 2026.
- On a quarterly basis, Operating Expenses fell 43.1% year-over-year to $289.1 million in Q1 2026; TTM through Mar 2026 was $1.3 billion, a 23.04% decrease from a year earlier, with the FY2025 full-year figure at $1.1 billion, down 44.13% from the prior year.
- Operating Expenses for Q1 2026 stood at $289.1 million, down from $320.3 million in the prior quarter.
- Over the last five years, Operating Expenses for DKNG reached as high as $1.1 billion in Q4 2023 and fell as low as -$349.2 million in Q4 2022.
- Historically, Operating Expenses has averaged $396.7 million across 5 years, with a median of $385.1 million in 2022.
- Across the five-year window, Operating Expenses slumped 67.42% in 2022 and soared 418.67% in 2023, its largest moves.
- Year by year, Operating Expenses stood at -$349.2 million in 2022, then surged by 418.67% to $1.1 billion in 2023, then sank by 47.41% to $585.2 million in 2024, then plunged by 45.27% to $320.3 million in 2025, then slipped by 9.73% to $289.1 million in 2026.
- Per Business Quant data, the three most recent Operating Expenses figures were $289.1 million in Q1 2026, $320.3 million in Q4 2025, and $271.5 million in Q3 2025.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Codere Online Luxembourg | 425.84 Bn | 425.77 Bn | - | - |
| 2 | Flutter Entertainment | 19.13 Bn | 17.62 Bn | 1.84 Bn | 1.50 Bn |
| 3 | DraftKings | 12.12 Bn | 11.11 Bn | 696.69 Mn | 289.11 Mn |
| 4 | Super Group (SGHC) | 7.57 Bn | 7.15 Bn | - | -470.00 Mn |
| 5 | Churchill Downs | 6.27 Bn | 6.17 Bn | 464.00 Mn | 520.00 Mn |
| 6 | Rush Street Interactive | 3.15 Bn | 2.82 Bn | 132.17 Mn | 327.58 Mn |
| 7 | Brightstar Lottery | 1.94 Bn | 670.63 Mn | 297.00 Mn | 60.00 Mn |
| 8 | Accel Entertainment | 1.02 Bn | 746.37 Mn | 350.92 Mn | 324.48 Mn |
| 9 | Inspired Entertainment | 207.07 Mn | 163.57 Mn | 54.60 Mn | 24.30 Mn |
| 10 | Gambling.com | 58.26 Mn | 42.45 Mn | 39.34 Mn | -25.50 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 289.11 Mn |
| Dec 31, 2025 | 320.28 Mn |
| Sep 30, 2025 | 271.46 Mn |
| Jun 30, 2025 | 398.89 Mn |
| Mar 31, 2025 | 508.07 Mn |
| Dec 31, 2024 | 585.24 Mn |
| Sep 30, 2024 | 311.71 Mn |
| Jun 30, 2024 | 257.74 Mn |
| Mar 31, 2024 | 514.95 Mn |
| Dec 31, 2023 | 1.11 Bn |
| Sep 30, 2023 | 444.08 Mn |
| Jun 30, 2023 | 343.74 Mn |
| Mar 31, 2023 | 549.61 Mn |
| Dec 31, 2022 | -349.20 Mn |
| Sep 30, 2022 | 262.56 Mn |
| Jun 30, 2022 | 385.14 Mn |
| Mar 31, 2022 | 538.06 Mn |
| Dec 31, 2021 | -208.59 Mn |
| Sep 30, 2021 | 523.36 Mn |
| Jun 30, 2021 | 261.44 Mn |