Rush Street Interactive(RSI)
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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
Financial Performance - The company had a net loss of approximately $2.3 million for the three months ended September 30, 2020, primarily due to general and administrative expenses of approximately $2.35 million [117]. - For the nine months ended September 30, 2020, the company reported a net loss of approximately $2.4 million, with general and administrative expenses totaling approximately $2.92 million [118]. - Class B common stock reported a net loss of approximately $2.4 million for the three months and approximately $2.9 million for the nine months ended September 30, 2020 [131]. Cash and Capital Structure - As of September 30, 2020, the company had approximately $482,000 in its operating bank account and a working capital deficit of approximately $1.8 million [119]. - The company raised gross proceeds of $230.0 million from its Initial Public Offering, incurring offering costs of approximately $13.2 million [107]. - The company placed $230.0 million of net proceeds from the Initial Public Offering into a Trust Account, invested in U.S. government securities [109]. - As of September 30, 2020, the company had approximately $759,000 of interest income available in the Trust Account for tax obligations [119]. Revenue Generation - The company has not generated any operating revenues to date and will only do so after completing its Initial Business Combination [116]. Business Combination - The company entered into a Business Combination Agreement with Rush Street Interactive, LP, on July 27, 2020 [115]. Underwriting and Fees - The underwriters of the Initial Public Offering are entitled to an underwriting discount of $0.20 per unit, totaling $4.6 million, and an additional deferred fee of $8.05 million [126]. Earnings Per Share - For the three months ended September 30, 2020, net income per share for Class A common stock was approximately $53,000, resulting in a basic and diluted income per share [131]. - For the nine months ended September 30, 2020, net income per share for Class A common stock was approximately $480,000 [131]. - Income attributable to Class A common stock for the three and nine months ended September 30, 2020, was approximately $54,000 and $481,000, respectively [131]. Regulatory and Compliance - The company expects to incur significant costs related to being a public company, including legal and compliance expenses [116]. - As of September 30, 2020, the company did not have any off-balance sheet arrangements [133]. - The company qualifies as an "emerging growth company" under the JOBS Act, allowing it to delay the adoption of new or revised accounting standards [134]. - The company is exempt from certain reporting requirements for a period of five years following its initial public offering [135].
Rush Street Interactive(RSI) - 2020 Q2 - Quarterly Report
2020-08-12 20:02
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 June 30, 2020 OR 1180 North Town Center Drive, Suite 100 Las Vegas, Nevada 89144 (Address of principal executive offices, including zip code) Registrant's telephone number, including area code: (702) 781-4313 Not Applicable (Former name or former address, if changed since last re ...
Rush Street Interactive(RSI) - 2020 Q1 - Quarterly Report
2020-05-07 20:07
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 March 31, 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) (State or other jurisdiction of incorporation) (Commiss ...