DraftKings maintained its full-year 2026 guidance in its second-quarter earnings announcement, projecting $6.5 billion to $6.9 billion in revenue and $700 million to $900 million in adjusted EBITDA.
The sportsbook operator also guided toward approximately $1 billion in core adjusted EBITDA for the year, according to the Q2 announcement. CFO Alan Ellingson confirmed the figures in the company's August 6 earnings statement. The reaffirmation came without material upward or downward revision between first-half results and its prior outlook.
DraftKings has operated in a competitive market for online sports betting and gaming in North America since legalization accelerated across states in the 2020s. The company's ability to maintain guidance typically reflects confidence in customer acquisition, retention, and handle growth across its platform. The breadth of the EBITDA range, a $200 million spread, points to variability in profitability drivers that could shift quarter to quarter.
The core adjusted EBITDA figure of roughly $1 billion exceeds the standard adjusted EBITDA midpoint of $800 million by approximately 25 percent. Core adjusted measures typically exclude certain non-recurring or stock-based items, creating a higher profitability reading than standard adjusted metrics for the same period.
DraftKings faces ongoing competition from rivals including FanDuel and DraftKings' own legacy competitors in the daily fantasy sports space. Revenue guidance of $6.5 billion to $6.9 billion at the midpoint of $6.7 billion assumes continued market growth and the company's ability to maintain or grow market share in existing states while potentially benefiting from any new state licensing. The company operates in 32 states and territories across North America as of mid-2026.
No material strategic announcements accompanied the guidance reaffirmation. DraftKings in prior quarters has focused on responsible gaming compliance, responsible-gaming feature adoption, and marketing efficiency to drive returns on customer acquisition spending. The company's stock has traded within a wide range relative to historical highs, with institutional investor appetite for sports betting operator profitability guiding valuations.
