DraftKings Inc. SEC Filings

DraftKings Inc. reported Q3 2025 results showing revenue of $1,144,019,000 and a net loss of $256,788,000, or $0.52 per share. For the first nine months, revenue reached $4,065,332,000 with a net loss of $132,716,000, reflecting improved year‑to‑date profitability versus 2024. iGaming continued to expand, while Sportsbook moderated in the quarter.

Liquidity and capital actions remained solid. Cash and cash equivalents were $1,228,275,000 as of September 30, 2025. Operating cash flow for the nine months was $342,382,000. The company added a $600,000,000 Term B Loan in March (about $597,000,000 outstanding at quarter‑end) and maintained a $500,000,000 revolving credit facility with $10,000,000 in letters of credit outstanding and no borrowings. The Board approved a $1,000,000,000 increase to the stock repurchase authorization on November 6, 2025, bringing the total program to $2,000,000,000; repurchases were 1.6 million shares for $71,200,000 in Q3 and 8.2 million shares for $314,000,000 year‑to‑date.

DraftKings Inc. announced that its Board of Directors authorized the repurchase of up to $2.0 billion of Class A common stock, increasing the prior authorization of $1.0 billion. Repurchases may occur through open market purchases, privately negotiated transactions, or other transactions in accordance with applicable securities laws, subject to market conditions and other factors.

The authorization does not require any specific number or amount of shares to be acquired and may be terminated at any time. The company may also enter into Rule 10b5-1 plans to facilitate repurchases. Separately, DraftKings furnished a press release as Exhibit 99.1 covering financial results for the quarter ended September 30, 2025.

DraftKings Inc. (DKNG) reported a Form 4 for its Chief Financial Officer detailing RSU vesting on 11/01/2025. 4,310 shares of Class A common stock were delivered upon RSU vesting, and 2,084 shares were withheld at $30.59 to cover taxes. Following these transactions, the officer beneficially owns 135,411 Class A shares directly and holds 43,102 RSUs outstanding. The RSUs were part of a 68,963-unit grant from May 1, 2024 that vests quarterly over four years.

DraftKings (DKNG) Chief Legal Officer reported routine equity activity on 11/01/2025. 808 shares of Class A common stock vested from restricted stock units, and 354 shares were withheld by the company to cover taxes at $30.59 per share. Following these transactions, direct holdings were 500,454 shares.

The filing shows 3,229 RSUs remaining after the event. It also notes a prior grant on February 10, 2025 of 9,692 RSUs that vest monthly over one year beginning March 1, 2025. No open‑market sales occurred beyond the tax withholding described.

DraftKings (DKNG) reported a director equity grant on a Form 4. On 10/24/2025, the director received 7,575 restricted stock units (RSUs) as an initial annual equity grant. Each RSU represents a contingent right to receive one share of the company’s Class A Common Stock.

The RSUs vest in full on the earlier of the 2026 annual meeting of shareholders or the first anniversary of the grant date. Following the transaction, 7,575 derivative securities were beneficially owned in direct form. The filing lists an acquisition price of $0 for the RSUs.

DraftKings (DKNG): Form 3 filed by a director. The initial beneficial ownership report indicates no securities are beneficially owned as of the event date 10/24/2025. The filing was made by one reporting person, with execution by an attorney-in-fact under Exhibit 24 (Power of Attorney). No non-derivative or derivative holdings are listed.

DraftKings Inc. appointed Gregory W. Wendt as an independent director effective October 24, 2025. He was recommended by the Nominating and Corporate Governance Committee and will also serve on that committee.

Mr. Wendt retired as a Partner from Capital Group after 37 years as an investment analyst and portfolio manager, with research focus including the global casino sector. The Board determined he meets NASDAQ and SEC independence requirements. He will participate in the standard compensation program for independent directors as described in the company’s 2025 proxy. A press release announcing the appointment was furnished on October 28, 2025.

DraftKings Inc. (DKNG) disclosed that its Chief Legal Officer exercised 40,142 stock options at $2.95 and sold 52,717 shares at a $34.57 weighted average price, plus 60 shares at $35.15, on October 17, 2025. The sales were made pursuant to a Rule 10b5-1 trading plan adopted on December 13, 2024.

Following these transactions, beneficial ownership of Class A common stock was 500,000 shares. Derivative holdings included 1,472,947 stock options; the exercised options carry an expiration date of November 2, 2027.

DraftKings Inc. (DKNG) filing of a Form 144 notifies a proposed sale of 15,000 common shares with an aggregate market value of $518,413.50. The shares were acquired on 05/05/2012 through previously exercised options and were paid for in cash on that date. The proposed approximate sale date is 10/09/2025 through Morgan Stanley Smith Barney LLC on the NASDAQ. The filing reports 496,470,071 shares outstanding, and indicates no securities sold by the same person in the past three months. The signer represents they are not aware of undisclosed material adverse information and references the Rule 10b5-1 trading plan representation language.