DraftKings (DKNG) Research & Development (2021 - 2026)
DraftKings (DKNG) posted quarterly Research & Development of $123.2 million for Q1 2026, down 64.16% year-over-year from $343.7 million in Q1 2025, and down 7.77% quarter-over-quarter from $133.6 million in Q4 2025.
DraftKings (DKNG) Research & Development (2021 - 2026) Analysis & Trends
DraftKings (DKNG) has reported Research & Development for 6 consecutive years, with $123.2 million the latest figure, recorded in Q1 2026.
- In Q1 2026, Research & Development fell 64.16% year-over-year to $123.2 million; the TTM figure through Mar 2026 stood at $604.6 million (down 33.45% YoY), while the FY2025 annual figure was $459.9 million, down 63.64% from the prior year.
- Research & Development retreated to $123.2 million in Q1 2026 per DKNG's latest filing, from $133.6 million in the prior quarter.
- Across five years, Research & Development topped out at $933.7 million in Q4 2023 and bottomed at -$522.4 million in Q4 2022.
- Historically, Research & Development has averaged $221.8 million across 5 years, with a median of $207.5 million in 2023.
- On a YoY basis, Research & Development climbed as much as 472.4% in 2022 and fell as far as 74.87% in 2022.
- DraftKings' Research & Development stood at -$522.4 million in 2022, then soared by 278.72% to $933.7 million in 2023, then slumped by 60.52% to $368.6 million in 2024, then slumped by 63.77% to $133.6 million in 2025, then retreated by 7.77% to $123.2 million in 2026.
- Business Quant data shows DKNG's Research & Development at $123.2 million in Q1 2026, $133.6 million in Q4 2025, and $114.7 million in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Flutter Entertainment | 17.97 Bn | 16.41 Bn | 1.71 Bn | 1.01 Bn |
| 2 | DraftKings | 12.79 Bn | 11.79 Bn | 551.45 Mn | 322.54 Mn |
| 3 | Super Group (SGHC) | 6.65 Bn | 6.23 Bn | - | -422.00 Mn |
| 4 | Churchill Downs | 6.50 Bn | 6.30 Bn | 712.00 Mn | - |
| 5 | Rush Street Interactive | 2.80 Bn | 2.46 Bn | 139.66 Mn | - |
| 6 | Brightstar Lottery | 2.24 Bn | 965.44 Mn | 297.00 Mn | 14.00 Mn |
| 7 | Accel Entertainment | 973.80 Mn | 718.35 Mn | 115.51 Mn | - |
| 8 | Codere Online Luxembourg | 415.01 Mn | 345.58 Mn | - | - |
| 9 | Inspired Entertainment | 174.32 Mn | 149.92 Mn | 52.10 Mn | - |
| 10 | Grandstand | 70.65 Mn | 61.84 Mn | 31.83 Mn | -16.14 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 322.54 Mn |
| Mar 31, 2026 | 123.18 Mn |
| Dec 31, 2025 | 133.56 Mn |
| Sep 30, 2025 | 114.68 Mn |
| Jun 30, 2025 | 233.19 Mn |
| Mar 31, 2025 | 343.68 Mn |
| Dec 31, 2024 | 368.60 Mn |
| Sep 30, 2024 | 103.58 Mn |
| Jun 30, 2024 | 92.66 Mn |
| Mar 31, 2024 | 340.70 Mn |
| Dec 31, 2023 | 933.72 Mn |
| Sep 30, 2023 | 313.32 Mn |
| Jun 30, 2023 | 207.49 Mn |
| Mar 31, 2023 | 389.13 Mn |
| Dec 31, 2022 | -522.45 Mn |
| Sep 30, 2022 | 76.30 Mn |
| Jun 30, 2022 | 197.53 Mn |
| Mar 31, 2022 | 321.45 Mn |
| Dec 31, 2021 | -449.40 Mn |
| Sep 30, 2021 | 303.66 Mn |