Form 8-K

8-K — DraftKings Inc.

Accession: 0001883685-26-000019

Filed: 2026-05-08

Period: 2026-05-08

CIK: 0001883685

SIC: 7990 (SERVICES-MISCELLANEOUS AMUSEMENT & RECREATION)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — dkng-20260508.htm (Primary)

EX-99.1 (q126-prx8kexx991.htm)

GRAPHIC (picture1a.jpg)

XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K

8-K (Primary)

Filename: dkng-20260508.htm · Sequence: 1

dkng-20260508

0001883685FALSE00018836852026-05-082026-05-08

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): May 8, 2026 (May 7, 2026)

DRAFTKINGS INC.

(Exact name of registrant as specified in its charter)

Nevada

(State or other jurisdiction

of incorporation)

001-41379

(Commission

File Number)

87-2764212

(IRS Employer

Identification No.)

222 Berkeley Street, 5th Floor

Boston, MA 02116

(Address of principal executive offices, including zip code)

Registrant’s telephone number, including area code: (617) 986-6744

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading Symbol(s) Name of each exchange on which registered

Class A common stock, par value $0.0001 per share DKNG The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition.

On May 7, 2026, DraftKings Inc. (the “Company”) issued a press release announcing the Company’s financial results for the quarter ended March 31, 2026.

A copy of the Company’s press release is attached hereto as Exhibit 99.1 and is hereby incorporated by reference in this Item 2.02. The information and exhibit contained in this Item 2.02 is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit

Number Description

99.1

Press Release, dated as of May 7, 2026, reporting financial results for the quarter ended March 31, 2026.

104 Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: May 8, 2026

DRAFTKINGS INC.

By: /s/ R. Stanton Dodge

Name: R. Stanton Dodge

Title: Chief Legal Officer and Secretary

EX-99.1

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Document

DraftKings Reports First Quarter Revenue of $1,646 Million

Boston, MA – May 7, 2026 — DraftKings Inc. (Nasdaq: DKNG) (“DraftKings” or the “Company”) today announced its first quarter 2026 financial results. The Company also posted a first quarter 2026 business update and an earnings presentation on the Financials section of its website at ir.aboutdraftkings.com.

First Quarter 2026 Highlights

For the three months ended March 31, 2026, DraftKings reported revenue of $1,646 million, an increase of $237 million, or 17%, compared to $1,409 million during the same period in 2025. The increase in the Company’s first quarter 2026 revenue was driven primarily by efficient customer acquisition over the past year and continued healthy customer engagement, as well as higher Sportsbook net revenue margin.

“We are off to a fantastic start to the year as our first quarter results exceeded our expectations,” said Jason Robins, DraftKings’ Chief Executive Officer and Co-founder. “Our core business is strong, and profitability is inflecting. That gives us the firepower to press our advantage in Predictions. With our Super App, market making capabilities, proprietary exchange, and combos coming together, we intend to establish a leadership position in Sports Predictions before year-end.”

“The business continues to scale efficiently as we grow revenue, expand profitability, and invest in high-return opportunities,” said Alan Ellingson, DraftKings’ Chief Financial Officer. “We continue to expect fiscal year 2026 revenue of $6.5 billion to $6.9 billion and Adjusted EBITDA of $700 million to $900 million.”

Continued Strong Customer Acquisition, Retention, and Engagement

•Monthly Unique Payers (“MUPs”) decreased 4% to 4.2 million in the three months ended March 31, 2026 compared to the three months ended March 31, 2025, primarily reflecting lower MUPs from Lottery following our exit from Texas in 2025. Excluding the impact of Lottery, MUPs increased by 2% in the three months ended March 31, 2026 compared to the three months ended March 31, 2025, due to strong customer retention and acquisition across our Sportsbook and iGaming offerings.

•Average Revenue per MUP (“ARPMUP”) increased 21% or $23 to $131 for the three months ended March 31, 2026 compared to the three months ended March 31, 2025, primarily due to improvement in Sportsbook Net Revenue Margin.

•Detailed financial data and other information for the first quarter of 2026 is available in the financial statements set forth below under the caption “Financial and Operational Results.”

Fiscal Year 2026 Guidance

•DraftKings is maintaining its fiscal year 2026 revenue guidance range of $6.5 billion to $6.9 billion and fiscal year 2026 Adjusted EBITDA guidance range of $700 million to $900 million.

Mobile Sports Betting and iGaming Footprint

•DraftKings is live with mobile sports betting in 27 states, Washington, D.C., and Puerto Rico representing approximately 53% of the U.S. population.

•DraftKings is also live with iGaming in 5 states, representing approximately 11% of the U.S. population.

•DraftKings is live with its Sportsbook and iGaming offerings in Ontario, Canada, representing approximately 40% of Canada’s population.

Webcast and Conference Call Details

As previously announced, DraftKings will host a conference call and audio webcast tomorrow, Friday, May 8, 2026, from 8:30 a.m. to 9:15 a.m. ET, during which management will discuss the Company’s results and provide commentary on business performance. A question-and-answer session will follow the prepared remarks.

To listen to the audio webcast and live question and answer session, please visit DraftKings’ Financials section of its website at ir.aboutdraftkings.com. A live audio webcast of the earnings conference call will be available on the Company’s website at ir.aboutdraftkings.com, along with a copy of this earnings press release, the Company’s Quarterly Report on Form 10-Q, a first quarter 2026 business update and a slide presentation. The audio webcast will be available on the Company’s investor relations website until 11:59 p.m. ET on June 30, 2026.

Financial and Operational Results

DraftKings’ first quarter 2026 financial results, as well as the financial results for each comparative period, and certain operational results are presented below:

DRAFTKINGS INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(Amounts in thousands, except par value)

March 31, 2026

(Unaudited) December 31, 2025

Assets

Current assets:

Cash and cash equivalents $ 999,404 $ 1,127,545

Restricted cash 8,746 7,601

Cash reserved for users 378,670 469,449

Accounts receivable 86,119 105,577

Prepaid expenses and other current assets 104,790 104,837

Total current assets 1,577,729 1,815,009

Property and equipment, net 53,164 51,081

Intangible assets, net 868,061 889,201

Goodwill 1,597,647 1,597,647

Operating lease right-of-use assets 78,428 49,810

Equity method investments 26,150 18,938

Deposits and other non-current assets 106,353 109,098

Total assets $ 4,307,532 $ 4,530,784

Liabilities and Stockholders’ equity

Current liabilities:

Accounts payable and accrued expenses $ 703,994 $ 785,441

Liabilities to users 811,630 935,001

Operating lease liabilities, current portion 10,942 9,795

Other current liabilities 21,858 25,234

Total current liabilities 1,548,424 1,755,471

Convertible notes, net of issuance costs 1,259,755 1,259,096

Term B Loan, net of issuance costs 575,556 576,544

Operating lease liabilities 71,597 44,391

Long-term income tax liabilities 92,903 91,618

Other long-term liabilities 154,249 172,203

Total liabilities $ 3,702,484 $ 3,899,323

Stockholders’ equity:

Class A common stock, $0.0001 par value; 900,000 shares authorized as of March 31, 2026 and December 31, 2025; 538,297 and 533,296 shares issued and 495,764 and 495,053 outstanding as of March 31, 2026 and December 31, 2025, respectively

$ 53 $ 52

Class B common stock, $0.0001 par value; 900,000 shares authorized as of March 31, 2026 and December 31, 2025; 393,014 shares issued and outstanding as of March 31, 2026 and December 31, 2025

39 39

Treasury stock, at cost; 42,533 and 38,243 shares as of March 31, 2026 and December 31, 2025, respectively

(1,515,376) (1,392,433)

Additional paid-in capital 8,500,292 8,424,833

Accumulated deficit (6,416,448) (6,437,518)

Accumulated other comprehensive income 36,488 36,488

Total stockholders’ equity $ 605,048 $ 631,461

Total liabilities and stockholders’ equity $ 4,307,532 $ 4,530,784

DRAFTKINGS INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited)

(Amounts in thousands, except per share data)

Three Months Ended March 31,

2026 2025

Revenue $ 1,646,076 $ 1,408,806

Cost of revenue 949,385 843,803

Sales and marketing 401,734 343,680

Product and technology 123,176 103,260

General and administrative 165,934 164,394

Income (loss) from operations 5,847 (46,331)

Other income (expense):

Interest income (expense), net (5,739) 4,395

Gain (loss) on remeasurement of warrant liabilities — 2,495

Other gain (loss), net 22,814 22

Income (loss) before income tax and equity method investments 22,922 (39,419)

Income tax provision (benefit) 6,369 (5,600)

(Gain) loss from equity method investments (4,517) 45

Net income (loss) attributable to common stockholders $ 21,070 $ (33,864)

Earnings (loss) per share attributable to common stockholders:

Basic $ 0.04 $ (0.07)

Diluted $ 0.03 $ (0.07)

DRAFTKINGS INC.

NON-GAAP FINANCIAL MEASURES

(Unaudited)

(Amounts in thousands, except per share data)

Three Months Ended March 31,

2026 2025

Adjusted EBITDA $ 167,852 $ 102,630

Adjusted Diluted Earnings (Loss) Per Share $ 0.20 $ 0.12

DRAFTKINGS INC.

REVENUE DISAGGREGATION

(Unaudited)

(Amounts in thousands, except percentages)

Three Months Ended March 31,

(amounts in thousands) 2026 2025 $ Change % Change

Sportsbook Handle $ 14,083,061 $ 13,880,391 $ 202,670 1.5 %

Sportsbook Revenue 1,094,874 881,957 212,917 24.1 %

Sportsbook Net Revenue Margin 7.8% 6.4% N/A N/A

Sportsbook Revenue $ 1,094,874 $ 881,957 $ 212,917 24.1 %

iGaming Revenue 461,300 423,471 37,829 8.9 %

Other Revenue 89,902 103,378 (13,476) (13.0) %

Total Revenue $ 1,646,076 $ 1,408,806 $ 237,270 16.8 %

DRAFTKINGS INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

(Amounts in thousands)

Three Months Ended March 31,

2026 2025

Cash Flows from Operating Activities:

Net income (loss) attributable to common stockholders $ 21,070 $ (33,864)

Adjustments to reconcile net income (loss) to net cash flows provided by (used in) operating activities:

Depreciation and amortization 71,661 70,116

Non-cash interest (income) expense, net 1,303 276

Stock-based compensation 65,215 78,846

(Gain) loss on remeasurement of warrant liabilities — (2,495)

(Gain) loss from equity method investment (4,517) 45

Deferred income taxes (215) 826

Other non-cash (gain) loss, net (22,656) 2,499

Change in operating assets and liabilities, net of effect of acquisitions:

Accounts receivable 19,458 (8,738)

Prepaid expenses and other current assets 46 (43,514)

Deposits and other non-current assets 1,143 363

Accounts payable and accrued expenses (80,999) (68,950)

Liabilities to users (123,371) (116,397)

Long-term income tax liability 1,285 (932)

Other long-term liabilities 2,140 2,903

Net cash flows provided by (used in) operating activities $ (48,437) $ (119,016)

Cash Flows from Investing Activities:

Purchases of property and equipment $ (7,085) $ (2,647)

Cash paid for internally developed software costs (37,070) (31,248)

Cash paid for gaming market access and licenses (1,060) (1,629)

Other investing activities (2,995) (3,495)

Net cash flows provided by (used in) investing activities $ (48,210) $ (39,019)

Cash Flows from Financing Activities:

Proceeds from Term B Loan, net $ — $ 588,116

Repayment of Term B Loan principal (1,500) —

Purchase of treasury stock for RSU withholding (24,303) (74,318)

Purchase of treasury stock under Stock Repurchase Program (98,640) (142,278)

Proceeds from exercise of stock options 3,315 3,396

Other financing activities — (2,093)

Net cash flows provided by (used in) financing activities $ (121,128) $ 372,823

Net increase (decrease) in cash and cash equivalents, restricted cash, and cash reserved for users (217,775) 214,788

Cash and cash equivalents, restricted cash, and cash reserved for users at the beginning of period 1,604,595 1,330,193

Cash and cash equivalents, restricted cash, and cash reserved for users at the end of period $ 1,386,820 $ 1,544,981

Disclosure of cash and cash equivalents, restricted cash, and cash reserved for users

Cash and cash equivalents $ 999,404 $ 1,119,740

Restricted cash 8,746 16,752

Cash reserved for users 378,670 408,489

Cash and cash equivalents, restricted cash, and cash reserved for users at the end of period $ 1,386,820 $ 1,544,981

Supplemental Disclosure of Noncash Investing and Financing Activities:

Decrease of warrant liabilities from cashless exercise of warrants $ — $ 8,973

Stock-based compensation capitalized to internally developed software costs 7,087 6,184

Supplemental Disclosure of Cash Activities:

(Decrease) increase in cash reserved for users $ (90,779) $ (116,918)

Cash paid for interest 8,224 3,139

Cash paid for income taxes, net of refunds 412 1,850

Non-GAAP Financial Measures

This press release includes Adjusted EBITDA and Adjusted Diluted Earnings (Loss) Per Share, which are non-GAAP financial measures that DraftKings uses to supplement its results presented in accordance with U.S. generally accepted accounting principles (“GAAP”). The Company believes Adjusted EBITDA and Adjusted Diluted Earnings (Loss) Per Share are useful in evaluating its operating performance, similar to measures reported by its publicly-

listed U.S. competitors, and regularly used by security analysts, institutional investors and other interested parties in analyzing operating performance and prospects. Adjusted EBITDA and Adjusted Diluted Earnings (Loss) Per Share are not intended to be substitutes for any GAAP financial measures, and, as calculated, may not be comparable to other similarly titled measures of performance of other companies in other industries or within the same industry.

DraftKings defines and calculates Adjusted EBITDA as net income (loss) before the impact of interest income or expense (net), income tax provision or benefit, and depreciation and amortization, and further adjusted for the following items: stock-based compensation; transaction-related costs; litigation, settlement and related costs; advocacy and other related legal expenses; gain or loss on remeasurement of warrant liabilities; and other non-recurring and non-operating costs or income, as described in the reconciliation below.

DraftKings defines and calculates Adjusted Diluted Earnings (Loss) Per Share as diluted earnings (loss) per share attributable to common stockholders adjusted for the impact of amortization of acquired intangible assets; discrete tax benefits attributed to acquisitions; stock-based compensation; transaction-related costs; litigation, settlement and related costs; advocacy and other related legal expenses; gain or loss on remeasurement of warrant liabilities; other non-recurring and non-operating costs or income; and the tax impact of adjusting items, as described in the reconciliation below.

DraftKings includes these non-GAAP financial measures because they are used by management to evaluate the Company’s core operating performance and trends and to make decisions regarding the allocation of capital and new investments. Adjusted EBITDA and Adjusted Diluted Earnings (Loss) Per Share exclude certain expenses that are required in accordance with GAAP because they are non-recurring items (for example, in the case of transaction-related costs and advocacy and other related legal expenses), non-cash expenditures (for example, in the case of depreciation and amortization, remeasurement of warrant liabilities and stock-based compensation), or non-operating items which are not related to the Company’s underlying business performance (for example, in the case of interest income and expense and litigation, settlement and related costs).

The unaudited table below presents the Company’s Adjusted EBITDA reconciled to its net income (loss), which is the most directly comparable financial measure calculated in accordance with GAAP, for the periods indicated:

Three Months Ended March 31,

(amounts in thousands) 2026 2025

Net income (loss) $ 21,070 $ (33,864)

Adjusted for:

Depreciation and amortization (1)

71,661 70,116

Interest (income) expense, net 5,739 (4,395)

Income tax (benefit) provision 6,369 (5,600)

Stock-based compensation (2)

65,215 78,846

Transaction-related costs (3)

— —

Litigation, settlement, and related costs (4)

— —

Advocacy and other related legal expenses (5)

26,363 —

Loss (gain) on remeasurement of warrant liabilities — (2,495)

Other non-recurring costs and non-operating costs (income) (6)

(28,565) 22

Adjusted EBITDA $ 167,852 $ 102,630

(1)The amounts include the amortization of acquired intangible assets of $37.6 million and $42.7 million for the three months ended March 31, 2026 and 2025, respectively.

(2)Reflects stock-based compensation expenses resulting from the issuance of awards under incentive plans.

(3)Includes capital markets advisory, consulting, accounting and legal expenses related to the evaluation, negotiation, and consummation of transactions and offerings that are under consideration, pending, or completed, as well as integration costs related to acquisitions.

(4)Primarily includes external legal costs related to litigation and litigation settlement costs deemed unrelated to our ordinary-course business operations.

(5)Reflects non-recurring and non-ordinary course costs relating to advocacy efforts primarily in pursuit of legalization of DraftKings offerings. For the three months ended March 31, 2026, this spend primarily relates to legislative efforts for legalizing iGaming, supporting a ballot measure for legalizing Sportsbook, and other advocacy activities related to certain states. Advocacy and legal expenses incurred in the ordinary course of business have not been adjusted in this measure.

(6)Primarily includes the change in fair value of certain assets and liabilities, including contingent consideration, as well as our equity method share of investee’s gains and losses and other costs relating to non-recurring and non-operating items.

The unaudited table below presents the Company’s Adjusted Diluted Earnings (Loss) Per Share reconciled to its diluted earnings (loss) per share attributable to common stockholders, which is the most directly comparable financial measure calculated in accordance with GAAP, for the periods indicated:

Three Months Ended March 31,

2026 2025

Diluted earnings (loss) per share attributable to common stockholders $ 0.03 $ (0.07)

Adjusted for:

Amortization of acquired intangible assets (1)

0.07 0.09

Stock-based compensation (2)

0.13 0.16

Transaction-related costs (3)

— —

Litigation, settlement, and related costs (4)

— —

Advocacy and other related legal expenses (5)

0.05 —

Loss (gain) on remeasurement of warrant liabilities — (0.01)

Other non-recurring and non-operating costs (income) (0.04) —

Tax impact of adjusting items (6)

(0.05) (0.05)

Adjusted Diluted Earnings (Loss) Per Share* $ 0.20 $ 0.12

_____________

* Weighted average diluted number of shares used to calculate Adjusted Diluted Earnings (Loss) Per Share for the three months ended March 31, 2026 and 2025 was 510.6 million and 493.3 million, respectively; totals may not add due to rounding.

(1)The amounts include the amortization of acquired intangible assets of $37.6 million and $42.7 million for the three months ended March 31, 2026 and 2025, respectively.

(2)Reflects stock-based compensation expenses resulting from the issuance of awards under incentive plans.

(4)Primarily includes external legal costs related to litigation and litigation settlement costs deemed unrelated to our ordinary-course business operations.

(6)Beginning in the first quarter of 2025, the Company began applying an estimated non-GAAP effective tax rate, which was 23% in 2025 and is 25% as of the first quarter of 2026. The non-GAAP effective tax rate reflects the non-GAAP tax provision commensurate with the Company’s level of non-GAAP profitability, which was determined after adjusting for the non-GAAP adjustments presented above and excluding the impact of changes in the valuation allowance.

Information reconciling forward-looking fiscal year 2026 Adjusted EBITDA guidance to its most directly comparable GAAP financial measure, net income (loss), is unavailable to DraftKings without unreasonable effort due to, among other things, certain items required for such reconciliation being outside of DraftKings’ control and/or not being able to be reasonably predicted. Preparation of such reconciliation would require a forward-looking balance sheet, statement of income, and statement of cash flow, prepared in accordance with GAAP, and such forward-looking financial statements are unavailable to the Company without unreasonable effort. DraftKings provides a range for its Adjusted EBITDA forecast that it believes will be achieved; however, the Company cannot provide any assurance that it can predict all of the components of the Adjusted EBITDA calculation. DraftKings provides a forecast for Adjusted EBITDA because it believes that Adjusted EBITDA, when

viewed with DraftKings’ results calculated in accordance with GAAP, provides useful information for the reasons noted above. However, Adjusted EBITDA is not a measure of financial performance or liquidity under GAAP and, accordingly, should not be considered as an alternative to net income (loss) or cash flow from operating activities or as an indicator of operating performance or liquidity.

About DraftKings

DraftKings Inc. is a digital sports and gaming company created to be the Ultimate Host and fuel the competitive spirit of sports fans with platforms that range across daily fantasy, regulated gaming, prediction markets and digital media. Headquartered in Boston and launched in 2012 by Jason Robins, Matt Kalish and Paul Liberman, DraftKings is the only U.S.-based vertically integrated sports betting operator. DraftKings’ mission is to make life more exciting by responsibly creating the world’s favorite real-money games, betting experiences and event contracts trading. DraftKings Sportsbook is live with mobile and/or retail sports betting operations pursuant to regulations in 30 states, Washington, D.C., Puerto Rico, and Ontario, Canada. The Company operates iGaming pursuant to regulations in five states and in Ontario, Canada under its DraftKings brand and pursuant to regulations in four states and in Ontario, Canada, under its Golden Nugget Online Gaming brand. DraftKings also owns Jackpocket, the leading digital lottery courier app in the United States. DraftKings’ Fantasy platform is available in 44 states, Washington, D.C., and certain Canadian provinces. DraftKings' wholly-owned subsidiary GUS III Inc. (d/b/a DraftKings Predictions) also operates DraftKings Predictions, offering federally regulated event contracts under CFTC oversight. DraftKings is both an official sports betting and daily fantasy partner of the NHL, PGA TOUR and WNBA, as well as an official daily fantasy partner of NASCAR, an official sports betting partner of the NBA and an authorized gaming operator of MLB. In addition, DraftKings owns and operates DraftKings Network, a multi-platform content ecosystem. DraftKings is committed to delivering responsible engagement tools and resources, while focusing on integrity and customer education.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, including statements about the Company and its industry that involve substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release, including statements regarding guidance, DraftKings’ future results of operations or financial condition, strategic plans and focus, customer growth and engagement, offering initiatives, and the objectives and expectations of management for future operations (including launches in new jurisdictions and the expected timing thereof), are forward-looking statements. In some cases, you can identify forward-looking statements because they contain words such as “anticipate,” “believe,” “confident,” “contemplate,” “continue,” “could,” “estimate,” “expect,” “forecast,” “going to,” “intend,” “may,” “plan,” “poised,” “potential,” “predict,” “project,” “propose,” “should,” “target,” “will,” or “would” or the negative of these words or other similar terms or expressions, or by statements of vision, strategy or outlook. DraftKings cautions you that the foregoing may not include all of the forward-looking statements made in this press release.

You should not rely on forward-looking statements as predictions of future events. DraftKings has based the forward-looking statements contained in this press release primarily on its current expectations and projections about future events and trends, including the current macroeconomic environment, that it believes may affect its business, financial condition, results of operations, and prospects. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside DraftKings’ control and that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, that may affect actual results or outcomes include, but are not limited to, DraftKings’ ability to manage growth; DraftKings’ ability to execute its business plan and meet its projections, including growth and execution in the emerging prediction markets category; potential litigation involving DraftKings; changes in applicable laws or regulations, particularly with respect to gaming and the regulatory status of prediction markets and event contracts; general economic and market conditions impacting demand for DraftKings’ offerings and services; economic and market conditions in the media, gaming, and software industries in the markets in which DraftKings operates; market and global conditions and economic factors, as well as the potential impact of general economic conditions, and the potential impact of new and existing laws, regulations, or policies, including those relating to tariffs, import/export, or trade restrictions, inflation, rising interest rates and instability in the banking system, on DraftKings’ liquidity, operations and personnel, as well as the risks, uncertainties, and other factors described in “Risk Factors” in DraftKings’ filings with the Securities and Exchange Commission (the “SEC”), which are available on the SEC’s website at www.sec.gov. Additional information will be made available in other filings that DraftKings makes from time to time with the SEC. The forward-looking statements contained herein are based on management’s current expectations and beliefs and speak only as of the date hereof, and DraftKings makes no commitment to update or publicly release any revisions to forward-looking statements in order to reflect new information or subsequent events, circumstances or changes in expectations, except as required by law.

Contacts

Media:

Media@draftkings.com

@DraftKingsNews

Investors:

Investors@draftkings.com

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May 08, 2026

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DRAFTKINGS INC.

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Entity File Number

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City Area Code

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Cover page.

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For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period. The format of the date is YYYY-MM-DD.

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No definition available.

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- Definition

The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.

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No definition available.

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- Definition

Address Line 1 such as Attn, Building Name, Street Name

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Address Line 2 such as Street or Suite number

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Name of the City or Town

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Code for the postal or zip code

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Name of the state or province.

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No definition available.

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- Definition

A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

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Indicate if registrant meets the emerging growth company criteria.

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Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

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Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.

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No definition available.

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Two-character EDGAR code representing the state or country of incorporation.

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No definition available.

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The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.

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Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

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The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.

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Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

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Local phone number for entity.

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- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 13e

-Subsection 4c

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Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.

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Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14d

-Subsection 2b

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- Definition

Title of a 12(b) registered security.

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-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b

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Name of the Exchange on which a security is registered.

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-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection d1-1

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Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14a

-Subsection 12

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- Definition

Trading symbol of an instrument as listed on an exchange.

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- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.

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Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Securities Act

-Number 230

-Section 425

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