DraftKings slid in postmarket trading after posting mixed Q4 results and issuing full-year guidance below expectations.

Revenue increased 43.2% year-over-year in Q4 to $1.99B, driven primarily by continued healthy customer engagement, efficient acquisition of new customers, and higher sportsbook net revenue margin.

DraftKings’ monthly unique paying customers was unchanged year-over-year at 4.8M. Average revenue per MUP was up 43% year-over-year during the quarter to $143. The increase was primarily due to higher net revenue margins across both sportsbook and iGaming. 

DraftKings generated adjusted EBITDA of $343.2M in Q4 vs. $89.5M a year ago.

At the end of the quarter, DraftKings was live with mobile sports betting in 26 states and Washington, D.C., which collectively represent approximately 52% of the U.S. population.

“We closed 2025 on a high note. Fourth quarter revenue increased 43% year-over-year, and we achieved records for revenue and adjusted EBITDA. Our core business is strong as we enter 2026,” highlighted CEO Jason Robins.

“We also see a massive, incremental opportunity in DraftKings Predictions. We plan to deploy growth capital to build the best customer experience in Predictions and acquire millions of customers. We have the playbook to execute and win,” he added.