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
DateValue
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