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Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions.
| Analyst | Firm | Questions · challengingPercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Dave Katz | Jefferies | 7 questions · 14% challenging |
| Brandt Montour | Barclays | 7 questions · 14% challenging |
| Ben Chaiken | Mizuho Securities | 7 questions · 0% challenging |
| Clark Lampen | BTIG | 7 questions · 0% challenging |
| Robin Farley | UBS | 7 questions · 43% challenging |
| Stephen Grambling | Morgan Stanley | 7 questions · 14% challenging |
| Robert Fishman | MoffettNathanson | 6 questions · 0% challenging |
| Shaun Kelley | Bank of America | 6 questions · 17% challenging |
| Dan Politzer | JPMorgan | 6 questions · 17% challenging |
| Jed Kelly | Oppenheimer | 6 questions · 33% challenging |
| Firm | Analysts | Questions · challengingPercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| UBS | 1 analyst | 7 questions · 43% challenging |
| Barclays | 1 analyst | 7 questions · 14% challenging |
| Mizuho Securities | 1 analyst | 7 questions · 0% challenging |
| Morgan Stanley | 1 analyst | 7 questions · 14% challenging |
| BTIG | 1 analyst | 7 questions · 0% challenging |
| Jefferies | 1 analyst | 7 questions · 14% challenging |
| JPMorgan | 1 analyst | 6 questions · 17% challenging |
| Bank of America | 1 analyst | 6 questions · 17% challenging |
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Calendar quarter Q3 2025Earnings call Nov 7, 2025
FY2025 Q3 in brief
DraftKings reported third-quarter revenue up just 4% year-over-year to $1.144 billion and negative $127 million of adjusted EBITDA, well below expectations, after customer-friendly NFL outcomes cut revenue by more than $300 million across September and…
Newest quarter FY2026 Q2 is part of Pro · see what Pro adds →
Sources. Tellvest earnings-call sentiment score for DraftKings Inc. (DKNG), FY2025 Q3: 4/10. Scores: DraftKings Inc.’s public earnings-call transcripts and SEC-reported results — the base band is anchored to reported GAAP revenue growth; transcript, EPS and guidance adjustments are applied separately (documented exceptions apply to a few issuers). Price: DKNG daily closing prices for the trailing year; dots mark earnings calls, colored by that quarter’s score; the newest quarter’s score is part of Tellvest Pro. How to read a company earnings-call score.
DraftKings reported third-quarter revenue up just 4% year-over-year to $1.144 billion and negative $127 million of adjusted EBITDA, well below expectations, after customer-friendly NFL outcomes cut revenue by more than $300 million across September and October. Management sharply lowered FY2025 guidance to revenue of $5.9-$6.1 billion and adjusted EBITDA of $450-$550 million, framing the outcome swings as short-term variance that evens out over time. Underlying momentum was strong: total handle rose 17% year-over-year in October, parlay mix surged (up 800 basis points for NFL and 1,000 basis points for NBA season to date), and iGaming net revenue growth accelerated to 25%. The company also announced exclusive ESPN and NBCUniversal marketing deals, a pending DraftKings Predictions launch, and a doubling of its buyback authorization to $2 billion, with Robins calling it the most bullish he has ever felt about the business despite the guidance cut.
GAAP revenue YoY +4.43% → base 6. The base score is anchored to the GAAP revenue YoY band before transcript, EPS, and guidance adjustments.
Demand | Product Launch | Margin | Competitive Dynamics | Regulation Policy | Guidance Reliability | Geographic Expansion | Revenue Growth | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 5 | 4 | 4 | 2 | 3 | 2 | 2 | 2 |
| 2025Q1 | 4 | 3 | 4 | 2 | 1 | 1 | 1 | |
| 2025Q2 | 7 | 4 | 4 | 4 | 5 | 1 | 1 | 1 |
| 2025Q3 | 1 | 5 | 4 | 6 | 2 | 2 | 3 | |
| 2025Q4 | 2 | 4 | 2 | 3 | 2 | 2 | 1 | 3 |
| 2026Q1 | 6 | 5 | 5 | 5 | 1 | 3 | 2 | 2 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | |
|---|---|---|---|---|---|---|
| Demand | 5 | 4 | 7 | 1 | 2 | 6 |
| Product Launch | 4 | 3 | 4 | 5 | 4 | 5 |
| Margin | 4 | 4 | 4 | 4 | 2 | 5 |
| Competitive Dynamics | 2 | 2 | 4 | 6 | 3 | 5 |
| Regulation Policy | 3 | 5 | 2 | 2 | 1 | |
| Guidance Reliability | 2 | 1 | 1 | 2 | 2 | 3 |
| Geographic Expansion | 2 | 1 | 1 | 3 | 1 | 2 |
| Revenue Growth | 2 | 1 | 1 | 3 | 2 |
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| Quarter | Revenue | Rev YoY | EPS | EPS YoY | Op margin | Net margin | FCF |
|---|---|---|---|---|---|---|---|
| FY2024 Q4 | $1.39B | +13.2% | $-0.28 | -193.8% | -10.0% | -9.7% | $323M |
| FY2025 Q1 | $1.41B | +19.9% | $-0.07 | +77.1% | -3.3% | -2.4% | $-122M |
| FY2025 Q2 | $1.51B | +36.9% | $0.30 | +130.8% | 10.0% | 10.4% | $170M |
| FY2025 Q3Selected | $1.14B | +4.4% | $-0.48 | +20.0% | -23.8% | -22.4% | $248M |
| FY2025 Q4 | $1.99B | +42.8% | $0.26 | +192.9% | 7.6% | 6.9% | $317M |
| FY2026 Q1 | $1.65B | +16.8% | $0.04 | +157.7% | 0.4% | 1.3% | $-56M |
| FY2026 Q2 | $1.44B | -4.6% | $-0.14 | -146.7% | -4.7% | -4.7% | $107M |
Management’s own words, often on a non-GAAP, constant-currency, or adjusted basis — so these can differ from the GAAP figures above (e.g. constant-currency revenue growth excludes currency swings).
What DKNG and other companies said about each other on FY2025 Q3 earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“between them and some of the others like NBCUniversal and Amazon that we have, we just have an unbelievable presence across sports media.”
Management cited Amazon among its sports-media marketing partners, a signal on Amazon's sports-media distribution relationships.
“they have an app. They have a fantasy database and app that is as big as anything in the world in that category.”
Management praised ESPN's app and fantasy database as best-in-class, to be leveraged across DraftKings product and marketing.
“Our new exclusive marketing agreements with ESPN and NBCUniversal will provide us deeper brand affinity and broader reach, including unmatched NBA access.”
DraftKings signed a new exclusive marketing agreement with NBCUniversal (Comcast), a positive signal for Comcast's sports-media monetization.
“Our new exclusive marketing agreements with ESPN and NBCUniversal will provide us deeper brand affinity and broader reach, including unmatched NBA access.”
DraftKings signed a new exclusive marketing agreement with ESPN (Disney), a positive signal for ESPN monetizing its sports-betting media relationships and NBA access.
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
DKNG DraftKings Inc. | 4 | +4.4% | |
| LVS Las Vegas Sands | 9 | +24.2% | |
| MGM MGM Resorts | 4 | +1.6% | |
| WYNN Wynn Resorts | 8 | +8.3% |