Rush Street Interactive(RSI)
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Rush Street Interactive(RSI) - 2021 Q2 - Earnings Call Transcript
2021-08-13 17:49
Rush Street Interactive, Inc. (NYSE:RSI) Q2 2021 Results Conference Call August 12, 2021 5:00 PM ET Company Participants Lauren Seiler - Associate Vice President of Investor Relations Richard Schwartz - President and Chief Executive Officer Kyle Sauers - Chief Financial Officer Greg Carlin - Vice Chairman Conference Call Participants Bernie McTernan - Needham David Katz - Jeffries Ryan Sigdahl - Craig-Hallum Capital Group Chad Beynon - Macquarie Jed Kelley - Oppenheimer Mike Hickey - The Benchmark Company ...
Rush Street Interactive(RSI) - 2021 Q2 - Earnings Call Presentation
2021-08-13 16:51
TRIVERS SPORTSBOOK · CASINO SUGAR HOUSE PLAYSUGARHOUSE.COM SPORTSBOOK | CASINO RUS STREET RACTIVE E N F Investor Presentation August 2021 2 Disclaimer Forward-Looking Statements This presentation contains "forward-looking statements" within the meaning of The Private Securities Litigation Reform Act of 1995. Forwardlooking statements include, without limitation, statements regarding the estimated future financial performance, financial position and guidance, the business strategy, plans and objectives of ma ...
Rush Street Interactive(RSI) - 2021 Q2 - Quarterly Report
2021-08-12 16:00
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2021 For the transition period from to Commission file number: 001-39232 Rush Street Interactive, Inc. (Exact name of registrant as specified in its charter) | Delaware | | 84-3626708 | | --- | --- | --- | | (State or other jurisdiction of | | (I.R.S. Employer | | incorporation or ...
Rush Street Interactive(RSI) - 2021 Q1 - Earnings Call Presentation
2021-05-15 00:08
RUSH STREET C T I V E R A E Investor Presentation May 2021 BETRIVERS.COM Disclaimer 2 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 and financial position, the level of exercise and redemption of RSI's outstanding public warrants, the business strategy, plans and objectives of m ...
Rush Street Interactive(RSI) - 2021 Q1 - Earnings Call Transcript
2021-05-14 02:37
Rush Street Interactive, Inc. (NYSE:RSI) Q1 2021 Earnings Conference Call May 13, 2021 5:00 PM ET Company Participants Lauren Seiler - Associate Vice President, Investor Relations and Development Greg Carlin - Chief Executive Officer Richard Schwartz - President Kyle Sauers - Chief Financial Officer Conference Call Participants Ryan Sigdahl - Craig-Hallum Capital Stephen Grambling - Goldman Sachs Bernie McTernan - Needham & Company Jed Kelly - Oppenheimer & Company Cassandra Lee - Jefferies Mike Hickey - Th ...
Rush Street Interactive(RSI) - 2021 Q1 - Quarterly Report
2021-05-13 16:00
Financial Performance - The company reported a net loss of $76,000 for the three months ended March 31, 2021, compared to a net loss of $12.943 million for the same period in 2020[129]. - Adjusted EBITDA for the three months ended March 31, 2021, was $(15.071) million, compared to $1.051 million for the same period in 2020[129]. - Revenue increased by $76.6 million, or 218%, to $111.8 million for the three months ended March 31, 2021, compared to $35.2 million for the same period in 2020, driven by expansion into new markets and growth in existing markets[149]. - The increase in online casino and sports betting revenue was $75.5 million for the three months ended March 31, 2021, contributing significantly to overall revenue growth[149]. - The company experienced a net loss of $76,000 for the three months ended March 31, 2021, compared to a net loss of $12.9 million for the same period in 2020[149]. - The company experienced a net loss totaling $12.9 million for the three months ended March 31, 2021[166]. User Engagement and Market Expansion - Average Monthly Active Users (MAUs) increased year-over-year due to expansion into new markets such as Illinois, Colorado, and Iowa, as well as strategic advertising efforts[123]. - Average Revenue Per Monthly Active User (ARPMAU) increased year-over-year, driven by enhanced customer engagement in key markets like New Jersey, Pennsylvania, and Colombia[125]. - The company operates in ten U.S. states and Colombia, generating revenue primarily from online casino and sports betting offerings[130]. - The company plans to continue expanding its offerings across the United States and worldwide, which will increase capital expenditures and working capital requirements[163]. Costs and Expenses - Costs of revenue rose by $57.3 million, or 256%, to $79.7 million for the three months ended March 31, 2021, with costs as a percentage of revenue increasing to 71% from 64% year-over-year[150]. - Advertising and promotions expense surged by $33.7 million, or 398%, to $42.2 million for the three months ended March 31, 2021, representing 38% of revenue compared to 24% in the same period in 2020[151]. - General administration and other expenses decreased by $0.2 million, or 1%, to $16.6 million for the three months ended March 31, 2021, with expenses as a percentage of revenue decreasing to 15% from 48% year-over-year[153]. Cash Flow and Financial Position - The company had $363.6 million in cash and cash equivalents as of March 31, 2021, excluding customer cash deposits[161]. - The company had cash, cash equivalents, and restricted cash of $375.1 million as of March 31, 2021[174]. - Net cash used in operating activities for the three months ended March 31, 2021 increased by $8.2 million to $11.2 million compared to $3.0 million for the same period in 2020[166]. - Net cash used in investing activities for the three months ended March 31, 2021 increased by $1.7 million to $3.1 million compared to $1.4 million during the same period in 2020[167]. - Net cash provided by financing activities for the three months ended March 31, 2021 increased by $125.3 million to $128.0 million compared to $2.7 million for the same period in 2020[168]. - Cash provided by financing activities included proceeds from the exercise of Public Warrants of $131.4 million[168]. Risks and Uncertainties - The ongoing impact of COVID-19 presents material uncertainty and risks that could adversely affect the company's financial results[120]. - The COVID-19 pandemic has led to increased business volume during stay-at-home orders, although it has also caused disruptions in sports betting due to event cancellations[116]. - Foreign currency exposure was primarily with respect to the Colombian Peso, which accounted for less than 7% of revenue for the three months ended March 31, 2021[175]. - The company does not currently hedge its foreign exchange exposure[175]. Responsible Gaming Practices - The company has implemented industry-leading responsible gaming practices and aims to enhance user experience through personalized offerings[110]. Other Financial Metrics - The change in fair value of warrant liabilities was $41.8 million for the three months ended March 31, 2021, with no similar instruments in the prior period[155]. - As of March 31, 2021, the company had no outstanding debt and an outstanding letter of credit for $0.3 million related to operations in Colombia[164]. - The decrease in non-cash expenses of $30.1 million was driven primarily by a gain on the change in fair value of warrants liabilities totaling $41.8 million[166].
Rush Street Interactive(RSI) - 2020 Q4 - Annual Report
2021-03-24 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K Commission File Number 001-39232 RUSH STREET INTERACTIVE, INC. (Exact name of registrant as specified in its charter) Delaware 84-3626708 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) 900 N. Michigan Avenue, Suite 950 Chicago, Illinois 60611 (312) 915-2815 (Address of principal executive offices, including zip code) (Registrant's telephone number, including area code) Secur ...
Rush Street Interactive(RSI) - 2020 Q4 - Earnings Call Presentation
2021-03-11 18:50
RUSH STREET C T I V E R A E Investor Presentation March 2021 BETRIVERS.COM PLAYSUGARH Disclaimer 2 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 and financial position, the level of exercise and redemption of RSI's outstanding public warrants, the business strategy, plans and ob ...
Rush Street Interactive(RSI) - 2020 Q4 - Earnings Call Transcript
2021-03-11 02:08
Rush Street Interactive, Inc. (NYSE:RSI) Q4 2020 Earnings Conference Call March 10, 2021 5:00 PM ET Company Participants Greg Carlin - CEO Kyle Sauers - CFO Richard Schwartz - President Conference Call Participants Jed Kelly - Oppenheimer Ryan Sigdahl - Craig-Hallum Capital Stephen Grambling - Goldman Sachs Mike Hickey - The Benchmark Company Operator Good day, ladies and gentlemen. Thank you for standing by. Welcome to the RSI Fourth Quarter 2020 Earnings Conference Call. At this time, all participants are ...
Rush Street Interactive(RSI) - 2020 Q3 - Quarterly Report
2020-11-16 20:32
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to DMY TECHNOLOGY GROUP, INC. (Exact name of registrant as specified in its charter) Delaware 001-39232 83-3626708 (State or other juris ...