MONTREAL, April 22, 2025 (GLOBE NEWSWIRE) -- Rogers Sugar Inc. (RSI) will be holding a conference call to discuss their 2025 second quarter results on Tuesday, May 13, 2025, at 8:00 a.m. (Eastern Time). The conference call will be chaired by Mr. Michael Walton, Chief Executive Officer and Mr. Jean-Sébastien Couillard, Chief Financial Officer. If you wish to participate, please dial 1-800-717-1738. A recording of the conference call will be accessible shortly after the conference, by dialing 1-888-660-6264, ...

CHICAGO, April 10, 2025 (GLOBE NEWSWIRE) -- Rush Street Interactive, Inc. (NYSE: RSI) (“RSI”) today announced that it will release its first quarter 2025 results after the market close on Wednesday, April 30, 2025, followed by a conference call at 6:00 pm Eastern Time (5:00 pm Central Time) to discuss the results. RSI’s earnings press release and related materials will be available at ir.rushstreetinteractive.com. To listen to the audio webcast and live Q&A, please visit RSI’s investor relations website at ...

Financial Performance - The company reported a net income of $7.236 million for the year ended December 31, 2024, compared to a net loss of $60.055 million in 2023 and $134.332 million in 2022[381]. - Adjusted EBITDA for 2024 was $92.539 million, a significant increase from $8.168 million in 2023 and a loss of $91.782 million in 2022[381]. - Revenue increased by $232.9 million, or 34%, to $924.1 million in 2024 compared to $691.2 million in 2023, driven by growth in existing markets and expansion into new markets[416]. - Online casino and sports betting revenue increased by $243.0 million, while social gaming revenue rose by $0.4 million, partially offset by a $10.5 million decrease in retail sports betting revenue due to exit from the Connecticut market[416]. - Net income improved to $7.2 million in 2024 from a loss of $60.1 million in 2023, reflecting a $67.3 million positive change[416]. - Interest income increased significantly by 171% to $7.5 million in 2024 from $2.8 million in 2023[416]. - Costs of revenue increased by $137.0 million, or 29%, to $602.0 million in 2024 compared to $465.0 million in 2023, with costs as a percentage of revenue decreasing to 65% from 67%[417]. - Income tax expense increased by $13.4 million, or 119%, to $24.6 million in 2024, with the expense as a percentage of revenue increasing to 3% from 2%[422]. - Net cash provided by operating activities was $106.4 million for the year ended December 31, 2024, compared to a cash outflow of $5.9 million in 2023[440]. - The company had $229.2 million in cash and cash equivalents as of December 31, 2024, intending to finance operations without third-party debt[431]. - The net effect of exchange rate changes on cash and equivalents was a decrease of $8.7 million in 2024, contrasting with an increase of $5.1 million in 2023[443]. - As of December 31, 2024, the company had cash, cash equivalents, and restricted cash totaling $232.8 million[459]. User Engagement and Market Expansion - Monthly Active Users (MAUs) in the United States and Canada increased year-over-year due to strong customer retention and strategic marketing efforts, with a notable contribution from full-year operations in Delaware in 2024[371]. - The company maintained a consistent Average Revenue Per Monthly Active User (ARPMAU) in Latin America for 2024, despite a significant increase in MAUs during the Copa América soccer tournament[376]. - The company experienced a year-over-year increase in MAUs in Latin America, driven by strong customer retention and the launch in Peru during Q3 2024[373]. - The company is focused on expanding its online casino and sports betting offerings in the U.S. and Latin America, with 39 states and the District of Columbia having authorized sports betting as of the report date[385]. - The company’s strategic advertising and marketing efforts have positively impacted both MAUs and ARPMAU across its markets[375]. Operational Strategy - The company operates in 16 U.S. states and four international markets, focusing on online casino and sports betting, with B2C operations contributing over 98% of total revenue for 2023 and 2024[366]. - The company’s business model is designed to be nimble and customer-centric, aiming to be "first to market" in newly legalized online gaming jurisdictions[364]. - The company faces competition from established industry players as it enters new jurisdictions, but believes its proprietary platform and marketing strategies will enable it to compete effectively[383]. - The profitability levels generally increase in jurisdictions as the company has operated there for longer periods[392]. - The success of online poker offerings is dependent on high levels of player liquidity and volume of gameplay or tournament participation[394]. Marketing and Advertising - Marketing spend is optimized based on a return-on-investment model, considering factors like product offerings, local advertising rules, and customer behavior[410]. - Advertising and promotion costs decreased by 1% to $158.6 million in 2024 from $160.7 million in 2023[416]. - Advertising and promotions expense decreased by $2.1 million, or 1%, to $158.6 million in 2024, with the expense as a percentage of revenue decreasing to 17% from 23%[418]. Expenses and Financial Management - General and administrative expenses increased by 22% to $106.9 million in 2024 from $87.3 million in 2023[416]. - General and administrative expense increased by $19.6 million, or 22%, to $106.9 million in 2024, while the expense as a percentage of revenue decreased to 12% from 13%[419]. - Interest income, net, increased by $4.7 million, or 171%, to $7.5 million in 2024, attributed to higher cash held in interest-bearing accounts[421]. Tax and Regulatory Considerations - The company recorded a valuation allowance for deferred tax assets, indicating it is not more-likely-than-not to realize these assets[450]. - The effective tax rate reflects management's estimates of the ultimate outcome of various tax uncertainties[451]. - The company ceased to qualify as an emerging growth company as of December 31, 2024, impacting its reporting requirements[457]. Future Outlook - The company expects capital expenditures and working capital requirements to increase to support growth and expansion into new markets[433]. - The Board authorized a stock repurchase program of up to $50 million of Class A Common Stock on October 24, 2024[438]. - A 10% increase or decrease in interest rates would not have a material effect on the consolidated financial statements for 2024[459]. - The company does not believe inflation has materially affected its financial condition or results of operations as of December 31, 2024[461].

Financial Data and Key Metrics Changes - For Q4 2024, revenue was $254.2 million, up 31% year-over-year, leading to full-year revenue of $924.1 million, up 34% year-over-year [26] - Adjusted EBITDA for Q4 was $30.6 million, reflecting a significant increase of over 2.5 times compared to the prior year, with full-year adjusted EBITDA of $92.5 million, increasing more than 11-fold [32][33] - Gross profit margin increased to 36.5% in Q4, with a full-year gross profit margin of 35.0%, an improvement of over 200 basis points versus the prior year [27][28] Business Line Data and Key Metrics Changes - Both online casino and online sportsbook each grew over 27% in Q4, contributing to overall strong top-line performance [18] - North America online grew 29%, while Latin America grew 54%, indicating broad-based growth across products and geographies [18][19] Market Data and Key Metrics Changes - North American monthly active users (MAUs) reached an all-time record of 205,000, up 28% year-over-year [19] - Latin America MAUs increased year-over-year by 71% to 348,000, with an ARPMAU of $39 [20][21] Company Strategy and Development Direction - The company focuses on a customer-centric approach, continuous investment in in-house technology, and operational efficiency to enhance margins and scale [14][17] - The strategic emphasis on user engagement and retention has led to significant growth in player accounts and values [20] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about maintaining strong momentum into 2025, with guidance for revenue between $1.01 billion and $1.08 billion, representing a 13% year-over-year increase [34] - The company is closely monitoring legislative sessions in the U.S. and Canada for potential online casino legalization opportunities [23][24] Other Important Information - The company ended the year with $229 million in unrestricted cash and no debt, an increase of approximately $61 million for the year [33] - The Colombian President issued an emergency decree to levy a tax on players for deposits made into online betting accounts, which could impact future guidance [35] Q&A Session Summary Question: Follow-up on guidance and Colombia's impact - The guidance includes the impact of the VAT in Colombia, with both high and low ends reflecting potential outcomes [40][41] Question: Tax increases and competitive landscape - The guidance does not include potential tax changes in other markets outside of Colombia, and management views tax increases as a potential setback but also an opportunity for industry growth [45][46][48] Question: Competitive strategies in Colombia - The company is confident in its technology and platform to manage the tax impact effectively, focusing on player retention and competitive strategies [56][60] Question: Delaware market performance - The company sees continued growth opportunities in Delaware, focusing on driving new players and monetization [64][66] Question: Perspectives on sweepstakes and impacts - Management acknowledges the impact of unregulated sweepstakes on the market and advocates for regulation to protect consumers [72][75] Question: Product mix and in-play betting - The company has invested in in-play betting and innovative promotional tools to enhance player engagement and loyalty [78][81] Question: M&A opportunities and buybacks - The company is assessing M&A opportunities while remaining opportunistic regarding share buybacks, focusing on delivering shareholder value [102][106] Question: User growth versus ARPMAU growth - Management expects a combination of user growth and ARPMAU growth, with a focus on increasing player counts and values [130][132] Question: Future iCasino regulation - There is a growing focus on iCasino legalization efforts, with management optimistic about potential developments in various states [91][95]

Group 1 - Rush Street Interactive, Inc. (RSI) reported quarterly earnings of $0.07 per share, missing the Zacks Consensus Estimate of $0.09 per share, but showing an improvement from earnings of $0.01 per share a year ago, resulting in an earnings surprise of -22.22% [1] - The company posted revenues of $254.17 million for the quarter ended December 2024, surpassing the Zacks Consensus Estimate by 1.73% and showing a year-over-year increase from $193.85 million [2] - Over the last four quarters, the company has exceeded consensus EPS estimates three times and topped consensus revenue estimates four times [2] Group 2 - The stock has underperformed the market, losing about 6.1% since the beginning of the year compared to the S&P 500's gain of 1.3% [3] - The company's earnings outlook is crucial for investors, as it includes current consensus earnings expectations for upcoming quarters and any recent changes to these expectations [4] - The estimate revisions trend for Rush Street Interactive is currently favorable, leading to a Zacks Rank 1 (Strong Buy) for the stock, indicating expected outperformance in the near future [6] Group 3 - The current consensus EPS estimate for the upcoming quarter is $0.13 on revenues of $254.1 million, and for the current fiscal year, it is $0.52 on revenues of $1.05 billion [7] - The Gaming industry, to which Rush Street Interactive belongs, is currently ranked in the top 18% of over 250 Zacks industries, suggesting a positive outlook for stocks within this sector [8]

Investor Presentation - February 2025 - Forward-Looking Statements This presentation contains "forward-looking statements" within the meaning of The Private Securities Litigation Reform Act of 1995. Forward-looking statements include, without limitation, statements regarding the estimated future financial performance, financial position and guidance, the business strategy, plans and objectives of management for future operations, potential market access in various jurisdictions, expectations around partners ...

Revenue Performance - Fourth quarter revenue was $254.2 million, an increase of 31% year-over-year from $193.9 million in Q4 2023[4] - Full year 2024 revenue reached $924.1 million, up 34% compared to $691.2 million in 2023[4] - Revenue for the three months ended December 31, 2024, was $254.167 million, a 31% increase from $193.851 million in the same period of 2023[22] - The company is initiating full year 2025 revenue guidance of between $1,010 million and $1,080 million, representing a 13% year-over-year growth at the midpoint[9] Profitability - Fourth quarter net income was $6.5 million, a turnaround from a net loss of $5.5 million in Q4 2023[4] - Net income attributable to Rush Street Interactive, Inc. for the three months ended December 31, 2024, was $2.025 million, compared to a net loss of $1.727 million in the same period of 2023[22] - Adjusted net income for the twelve months ended December 31, 2024, was $43.263 million, compared to an adjusted net loss of $30.035 million in 2023[31] - Earnings per share attributable to Rush Street Interactive, Inc. for the three months ended December 31, 2024, was $0.02, compared to a loss of $0.02 per share in the same period of 2023[31] Adjusted EBITDA - Adjusted EBITDA for Q4 2024 was $30.6 million, up 166% year-over-year from $11.5 million in Q4 2023[4] - Full year 2024 Adjusted EBITDA was $92.5 million, an increase of 1,033% compared to $8.2 million in 2023[4] - Adjusted EBITDA for the three months ended December 31, 2024, was $30.645 million, significantly up from $11.513 million in the same period of 2023[27] - Adjusted EBITDA guidance for 2025 is set between $115 million and $135 million, indicating a 35% year-over-year growth at the midpoint[9] User Metrics - Monthly Active Users (MAUs) in the U.S. and Canada were approximately 205,000, up 28% year-over-year, while MAUs in Latin America were approximately 348,000, up 71% year-over-year[4] - Average Revenue per Monthly Active User (ARPMAU) in the U.S. and Canada was $346, slightly up from $345 in the prior year[4] Operating Costs - Total operating costs and expenses for the three months ended December 31, 2024, were $242.051 million, compared to $197.378 million in the same period of 2023, reflecting a 22.6% increase[22] - Total adjusted operating costs and expenses for the three months ended December 31, 2024, were $232.598 million, compared to $189.953 million in the same period of 2023[28] Cash Position - Unrestricted cash and cash equivalents as of December 31, 2024, were $229 million, an increase of $61 million for the full year[4] Comprehensive Income - The company reported a comprehensive income of $2.852 million for the three months ended December 31, 2024, compared to a comprehensive loss of $3.630 million in the same period of 2023[25] Foreign Currency Impact - The company experienced a foreign currency translation adjustment loss of $3.636 million for the three months ended December 31, 2024[25] Share Information - The weighted average common shares outstanding for the three months ended December 31, 2024, was 96,881,224, compared to 71,601,297 in the same period of 2023[31]

Core Insights - Rush Street Interactive, Inc. reported a fourth quarter revenue of $254 million, representing a 31% year-over-year increase [1][6] - The full year 2024 revenue reached $924 million, up 34% compared to 2023 [1][6] - The company achieved a fourth quarter net income of $6.5 million, a significant turnaround from a net loss of $5.5 million in the same quarter of the previous year [1][6] - Adjusted EBITDA for the fourth quarter was $30.6 million, reflecting a 166% increase year-over-year [1][6] - For the full year 2024, adjusted EBITDA was $92.5 million, up 1,033% from $8.2 million in 2023 [1][6] - The company has initiated revenue guidance for full year 2025, expecting between $1,010 million and $1,080 million, and adjusted EBITDA guidance of between $115 million and $135 million [1][12] Fourth Quarter 2024 Highlights - Revenue for the fourth quarter was $254.2 million, an increase from $193.9 million in Q4 2023 [6] - Monthly Active Users (MAU) in the U.S. and Canada were approximately 205,000, up 28% year-over-year [6] - MAUs in Latin America were approximately 348,000, representing a 71% increase year-over-year [6] - Average Revenue per Monthly Active User (ARPMAU) in the U.S. and Canada was $346, slightly up from $345 in the prior year [6] Full Year 2024 Highlights - Total revenue for the full year was $924.1 million, compared to $691.2 million in 2023 [6] - The company reported a net income of $7.2 million for the full year, a recovery from a net loss of $60.1 million in 2023 [6] - Adjusted advertising and promotions expense decreased by 1.6% to $155.8 million from $158.4 million in 2023 [6] - Unrestricted cash and cash equivalents as of December 31, 2024, were $229 million, an increase of $61 million for the year [6] Management Commentary - The CEO expressed excitement over the record performance in revenue and adjusted EBITDA, highlighting broad-based growth across geographies and products [4] - The company is focused on player needs and leveraging technology to enhance user experience, which has driven growth and profitability [4] - Looking ahead to 2025, the company is optimistic about opportunities stemming from investments in technology and strategic partnerships [5]

Core Viewpoint - Rogers Sugar Inc. has announced an increase in its bought deal public offering to $100,000,000 of Eighth Series convertible unsecured subordinated debentures, with an annual interest rate of 6.0% and a maturity date of June 30, 2030 [1][2]. Group 1: Offering Details - The offering price for the Offered Debentures is set at $1,000 per debenture, with interest payable semi-annually starting June 30, 2025 [1]. - The Offered Debentures are convertible into common shares at a conversion price of $7.10 per share, with conversion options available until the day before maturity or redemption [2]. - The Company has granted an Over-Allotment Option to underwriters to purchase an additional $15,000,000 of Offered Debentures, potentially increasing total gross proceeds to $115,000,000 if fully exercised [3]. Group 2: Use of Proceeds - The net proceeds from the offering will be utilized to reduce outstanding amounts under the credit facility of Lantic Inc., a subsidiary of Rogers Sugar, and for general corporate purposes [4]. Group 3: Regulatory and Closing Information - The offering is expected to close around February 19, 2025, subject to regulatory and TSX approval [5]. - The Offered Debentures will be offered in Canada, with a prospectus supplement to be filed by February 12, 2025 [5]. Group 4: Company Overview - Rogers Sugar Inc. is a Canadian corporation that owns Lantic, which has been refining sugar for 135 years and operates multiple sugar refineries and a sugar beet processing facility in Canada [11]. - Lantic markets its sugar products under the "Lantic" and "Rogers" trademarks and offers a variety of sugar types and specialty syrups [11].

Core Viewpoint - Rogers Sugar Inc. announced a public offering of $75,000,000 aggregate principal amount of Eighth Series convertible unsecured subordinated debentures with an annual interest rate of 6.0% and a maturity date of June 30, 2030 [1][2]. Group 1: Offering Details - The offering price for the Offered Debentures is set at $1,000 per debenture [1]. - The Offered Debentures will be convertible into common shares at a conversion price of $7.10 per share [2]. - The Offered Debentures will not be redeemable prior to June 30, 2028, and can be redeemed under specific conditions thereafter [2]. Group 2: Underwriters and Over-Allotment - The offering is being conducted through a syndicate of underwriters co-led by TD Securities Inc. and Scotiabank on a bought deal basis [2]. - An Over-Allotment Option allows underwriters to purchase up to an additional $11,250,000 aggregate principal amount of Offered Debentures within 30 days after the closing of the offering [3]. Group 3: Use of Proceeds - The net proceeds from the offering will be used to reduce outstanding amounts under the credit facility of Lantic Inc., a subsidiary of Rogers Sugar, and for general corporate purposes [4]. Group 4: Regulatory and Closing Information - The offering is expected to close on or about February 19, 2025, subject to regulatory and TSX approval [5]. - The Offered Debentures will be offered in each province of Canada pursuant to a prospectus supplement that will be filed by February 12, 2025 [5]. Group 5: Company Overview - Rogers Sugar Inc. is a corporation established under Canadian laws, holding all common shares of Lantic, which has been refining sugar for 135 years [11]. - Lantic operates cane sugar refineries in Montreal and Vancouver, and the only Canadian sugar beet processing facility in Taber, Alberta [11]. - The company markets its sugar products under the "Lantic" and "Rogers" trademarks across Canada and operates a distribution center in Toronto [11].