DraftKings president Matt Kalish will step down on 31 March and remain on the company’s board, under a transition agreement. Chief executive Jason Robins said Kalish had spent 14 years at DraftKings and would stay through the end of March.
The leadership change leaves Kalish on the board while he exits the presidency.
Quarter ended 30 September 2026
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DraftKings increased iGaming customer acquisition by 76% year on year in Q3 2026, while gross revenue rose 7% and net revenue 2%. CEO Jason Robins said October gross revenue growth accelerated to 12% year on year, and the company expects the new customer cohorts to contribute more in 2027.
DraftKings lowered its full-year 2026 revenue guidance to $6.35 billion-$6.55 billion, from $6.5 billion-$6.9 billion previously, and reported a third-quarter adjusted EBITDA loss of $317 million. The company said more than 1.6 million customers had used its predictions offering year-to-date and expected 2026 predictions investment of at least $650 million; its shares fell about 22% in Thursday after-hours trading after the results.
DraftKings CEO Jason Robins defended the company’s planned prediction-markets investment on its third-quarter earnings call. The company projects adjusted EBITDA investment of $900m to $1.05bn across 2026 and 2027, and Robins said customer acquisition costs could take about 41 months to recover if the Supreme Court bars sports event contracts in July 2028.
DraftKings said in its third-quarter materials that it increased its 2026 adjusted EBITDA investment in Predictions by $50m to $700m. Its downside model assumes sports event contracts end on 31 July 2028 and that Predictions customers then generate 20% of current gross profit; the model extends payback from 18 months to 41 months.
DraftKings announced third-quarter revenue of $1.3 billion, up 16% from the same period in 2025. The company said growth was driven mainly by customer engagement and sportsbook net revenue margin; it also issued fiscal 2027 revenue guidance of $7.35 billion to $7.75 billion and said it plans substantial investment in its predictions business.
DraftKings announced third-quarter revenue of $1.3bn, an increase of $185m, or 16%, from the same period in 2025. A news release attributed the increase mainly to continued customer engagement and a higher sportsbook net revenue margin.