Earnings (Loss) Per Share (Tables)

12 Months Ended

Dec. 31, 2025

Schedule of Loss per Share and Weighted-Average Shares

The computation of Earnings (loss) per share and weighted-average shares of the Company’s Class A common stock outstanding for the periods presented are as follows:


	Year ended December 31,
	2025		2024		2023
Numerator
Net income (loss) attributable to common stockholders – basic	$	3,710	$	(507,285)	$	(802,142)
(Gain) loss on remeasurement of warrant liabilities	(6,152)		—		—
(Gain) loss on remeasurement of contingent consideration	(1,591)		—		—
Net income (loss) attributable to common stockholders – diluted	$	(4,033)	$	(507,285)	$	(802,142)
Denominator
Weighted-average Class A common stock outstanding – basic	495,638		481,954		462,599
Weighted-average diluted impact of warrant liabilities (1)	161		—		—
Weighted-average diluted impact of contingent consideration (1)	104		—		—
Diluted weighted-average common shares outstanding	495,903		481,954		462,599


Basic earnings (loss) per share attributable to common stockholders:	$	0.01	$	(1.05)	$	(1.73)
Diluted earnings (loss) per share attributable to common stockholders:	$	(0.01)	$	(1.05)	$	(1.73)

(1) Calculated using the treasury stock method

Schedule of Securities and Convertible Notes

For the periods presented, the following securities were not required to be included in the computation of diluted shares outstanding:


	Year Ended December 31,
	2025	2024	2023
Class A common stock resulting from exercise of all warrants	—	1,439	3,524
Stock options and RSUs	39,865	52,393	55,200
Convertible notes	13,337	13,337	13,337
Total	53,202	67,169	72,061

DraftKings Inc. 10-K