Strong Revenue Growth: DraftKings reported a 37% year-over-year increase in revenue for Q2 2025, reaching $1.513 billion, with adjusted EBITDA of $301 million, representing a remarkable 20% margin. This growth is anticipated to continue, with the company maintaining guidance of $6.2 billion to $6.4 billion for full-year 2025, potentially closing in on the high end of the range.

Adjusted EBITDA Expectations: The company is on track to achieve adjusted EBITDA near the midpoint of its $800 million to $900 million guidance range, driven by stronger-than-expected performance in existing markets and efficiencies in operations. This includes a substantial improvement in promotional reinvestment efficiencies.

Market Expansion with New State Launches: DraftKings is preparing to launch mobile sports betting in Missouri in early December 2025, projected to contribute approximately $35 million to $45 million in EBITDA in its first year. This launch is expected to occur during the NFL season, providing a strategic advantage for customer acquisition.