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DraftKings said second-quarter 2026 results were pressured by customer-friendly sports outcomes, but the company kept its full-year guidance unchanged and said underlying customer trends came in ahead of expectations.
The company maintained its 2026 outlook for revenue of $6.5 billion to $6.9 billion and adjusted EBITDA of $700 million to $900 million. Management said the core business generated $115 million in adjusted EBITDA in Q2, while June sports results created an estimated $80 million revenue headwind.
Customer growth outpaced plan despite Q2 headwind
According to management, customer acquisition rose nearly 75% year over year in the quarter, with DraftKings adding roughly 30% more customers than planned. Underlying customer acquisition costs were approximately 25% below expectations.
Monthly unique payers increased 9% from a year earlier, or more than 6% excluding customers who participated only during the World Cup. DraftKings also said sports consumer volume rose 15% year over year and sportsbook handle increased 11%.
CEO Jason Robins said the core business is on track to produce about $1 billion in adjusted EBITDA during 2026.
Predictions business gets a bigger investment
DraftKings also used the earnings call to outline a more aggressive push into predictions. The company said more than 600,000 customers had used its predictions product year to date, while annualized total volume traded rose from $2.3 billion in April to $11 billion in July.
DraftKings plans to invest an incremental $200 million to $300 million in predictions during 2026. It launched its in-house exchange, DKeX, in June and said it received approval from the National Futures Association to operate as a futures commission merchant in July.
Management said the company is now live on three exchanges and making markets on singles and Combos at a profit. Robins said DraftKings plans to migrate a substantial portion of major-sports predictions volume to DKeX over time.
iGaming shows better momentum ahead of NFL season
DraftKings said its iGaming business is showing signs of improved momentum after several weaker quarters. The company also plans another Super App upgrade in August ahead of the NFL season.
For players and industry watchers, the key near-term takeaway is that DraftKings did not change its 2026 targets despite Q2 volatility in sports outcomes. The next items to watch are the August product update, the rollout of additional predictions-market activity, and whether stronger customer acquisition trends carry into the NFL season.
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Source: As reported by finance.yahoo.com.
