DraftKings lowers 2026 adjusted EBITDA forecast by up to $625m
DraftKings lowered its 2026 adjusted EBITDA forecast to $175 million-$275 million, from $700 million-$900 million, citing planned investment in its Predictions business, additional iGaming spending and customer-friendly sports results. The company also cut its revenue outlook to $6.35 billion-$6.55 billion and reported a third-quarter net loss of $468.7 million, compared with $256.8 million a year earlier.
The revised outlook and planned Predictions investment alter investors’ expectations for DraftKings’ 2026 earnings.