Draftkings Inc. cash flow statement

In fiscal 2025, Draftkings Inc.'s operations generated $663m of cash; it spent $15.4m on capital projects, leaving free cash flow of $648m. It returned $572m through buybacks.

Cash flow statement

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Draftkings Inc.: cash flow statement, annual
Fiscal year	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025	LTMJun 2026
Cash from operations	−194	−420	−626	−2	418	663	671
Depreciation and amortisation	77	121	169	202	271	275	292
Stock-based pay	325	683	579	398	381	339	324
Capital spending	12	16	32	21	10	15	20
Free cash flow	−206	−435	−658	−23	408	648	651
Free cash flow after stock pay	−531	−1,119	−1,237	−421	26	308	327
Share buybacks	289	18	0	0	48	572	483
Shares issued	1,680	0	0	—	—	—	—

US$ millions unless shown otherwise. Fiscal quarters.

Draftkings Inc.: cash flow statement, quarterly
Quarter	2024 Q3Sept 2024	2024 Q4Dec 2024	2025 Q1Mar 2025	2025 Q2Jun 2025	2025 Q3Sept 2025	2025 Q4Dec 2025	2026 Q1Mar 2026	2026 Q2Jun 2026
Cash from operations	134	325	−119	174	287	320	−48	111
Depreciation and amortisation	90	66	70	65	66	74	72	80
Stock-based pay	88	110	79	85	72	103	65	83
Capital spending	3	2	3	4	4	4	7	5
Free cash flow	131	323	−122	170	283	317	−56	107
Free cash flow after stock pay	43	213	−201	85	211	213	−121	24

Free cash flow is cash from operations minus capital spending. Free cash flow after stock pay also subtracts stock-based compensation, a real cost to shareholders that the cash flow statement adds back. Dividends, buybacks and shares issued are cash amounts for the period.

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Figures from Draftkings Inc.'s SEC filings (10-K and 10-Q), retrieved October 20, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Draftkings Inc.