DraftKings (DKNG) Research & Development (2021 - 2026)
DraftKings (DKNG) recorded Research & Development of $127.65 million in Q2 2026, up 17.7% from $108.42 million a year earlier and up 3.6% from the prior quarter.
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Analysis
DraftKings (DKNG) Research & Development (2021 - 2026) Analysis & Trends
On a TTM basis, DraftKings' Research & Development came in at $499.06 million as of Jun 30, 2026, up 16.8% year-over-year; for FY2025, it was $459.91 million, up 15.8% from FY2024.
- Annual Research & Development has increased for five straight years, with a five-year compound annual growth rate of 22.2% (FY2020 to FY2025).
- Across earlier years, Research & Development came in at $397.11 million in FY2024 (+11.8%), $355.16 million in FY2023 (+11.6%), $318.25 million in FY2022 (+25.5%) and $253.66 million in FY2021 (+50.4%).
- Quarterly Research & Development has ranged from $65.22 million in Q3 2021 to $133.56 million in Q4 2025 over the past five years.
- On a year-over-year basis, Research & Development has increased for 18 consecutive quarters, with growth averaging 18.0% over the last eight quarters.
- Across the past five years, year-over-year growth in Research & Development ran from 0.8% in Q1 2024 to 44.9% in Q1 2022.
- Per Business Quant, the preceding three quarters came in at $123.18 million (Q1 2026), $133.56 million (Q4 2025) and $114.68 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Las Vegas Sands | 24.82 Bn | 11.24 Bn | 1.48 Bn | 43.00 Mn |
| 2 | DraftKings | 17.42 Bn | 13.08 Bn | 551.45 Mn | 127.65 Mn |
| 3 | Flutter Entertainment | 12.92 Bn | 6.67 Bn | 1.71 Bn | 300.00 Mn |
| 4 | Madison Square Garden Sports | 9.97 Bn | 9.56 Bn | 119.21 Mn | - |
| 5 | Life Time Group Holdings | 8.95 Bn | 8.18 Bn | 412.26 Mn | - |
| 6 | Wynn Resorts | 8.09 Bn | 1.64 Bn | 758.95 Mn | - |
| 7 | MGM Resorts International | 7.93 Bn | -255.39 Mn | 1.98 Bn | - |
| 8 | Caesars Entertainment | 6.03 Bn | 2.66 Bn | 1.50 Bn | - |
| 9 | Super Group (SGHC) | 5.86 Bn | 3.85 Bn | - | - |
| 10 | Churchill Downs | 5.31 Bn | 4.58 Bn | 419.00 Mn | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 127.65 Mn |
| Mar 31, 2026 | 123.18 Mn |
| Dec 31, 2025 | 133.56 Mn |
| Sep 30, 2025 | 114.68 Mn |
| Jun 30, 2025 | 108.42 Mn |
| Mar 31, 2025 | 103.26 Mn |
| Dec 31, 2024 | 112.06 Mn |
| Sep 30, 2024 | 103.58 Mn |
| Jun 30, 2024 | 92.66 Mn |
| Mar 31, 2024 | 88.82 Mn |
| Dec 31, 2023 | 88.16 Mn |
| Sep 30, 2023 | 89.01 Mn |
| Jun 30, 2023 | 89.91 Mn |
| Mar 31, 2023 | 88.09 Mn |
| Dec 31, 2022 | 83.39 Mn |
| Sep 30, 2022 | 76.30 Mn |
| Jun 30, 2022 | 77.20 Mn |
| Mar 31, 2022 | 81.35 Mn |
| Dec 31, 2021 | 69.64 Mn |
| Sep 30, 2021 | 65.22 Mn |
API Access
DraftKings Research & Development 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=research-and-development&ticker=DKNG&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "research-and-development", "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=research-and-development&ticker=DKNG&period=max&api_key=YOUR_API_KEY");
const data = await res.json();