Core Insights - Rush Street Interactive, Inc. (RSI) reported quarterly earnings of $0.09 per share, exceeding the Zacks Consensus Estimate of $0.07 per share, and up from $0.05 per share a year ago, representing an earnings surprise of +28.57% [1] - The company achieved revenues of $277.91 million for the quarter ended September 2025, surpassing the Zacks Consensus Estimate by 2.09% and increasing from $232.11 million year-over-year [2] - The stock has gained approximately 36.3% since the beginning of the year, outperforming the S&P 500's gain of 17.2% [3] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.10 on revenues of $293.68 million, and for the current fiscal year, it is $0.37 on revenues of $1.1 billion [7] - The estimate revisions trend for Rush Street Interactive was favorable ahead of the earnings release, resulting in a Zacks Rank 1 (Strong Buy) for the stock, indicating expected outperformance in the near future [6] Industry Context - The Gaming industry, to which Rush Street Interactive belongs, is currently ranked in the top 24% of over 250 Zacks industries, suggesting a favorable outlook compared to the bottom 50% of industries [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5]

Financial Data and Key Metrics Changes - Revenue reached a record $277.9 million, up 20% year over year, marking the 10th consecutive quarter of sequential revenue growth [6][14] - Adjusted EBITDA of $36 million increased 54% year over year, demonstrating significant operating leverage [6][16] - Gross margin was 34.0%, reflecting improvements in higher margin markets, offset by player-friendly sports outcomes impacting Colombia [15] Business Line Data and Key Metrics Changes - Online casino revenues grew 34% during the quarter, while online sports betting contracted 16% due to elevated bonusing in Colombia [14] - North American monthly active users (MAUs) increased 34% year over year to 225,000, the strongest quarterly growth in over four years [6][16] - In North American online casino markets, MAUs grew 46% year over year, indicating strong player retention and engagement [7] Market Data and Key Metrics Changes - Delaware saw 74% net revenue growth, Michigan 48%, New Jersey 37%, Ontario 24%, and Pennsylvania 15%, showcasing broad-based growth across various markets [8] - In Latin America, MAUs grew 30% year over year to 415,000, with Mexico revenue growing over 100% [9] - Colombia's net revenue was down 27% due to player bonusing related to a temporary VAT tax, despite GGR growth over 50% [9][14] Company Strategy and Development Direction - The company is focusing on innovation, online casino legalization, and strategic growth opportunities, with leadership changes to enhance operational excellence [5][12] - Planned expansion into Alberta is anticipated to leverage proven success in similar markets like Ontario [12] - The company is monitoring legislative developments across multiple U.S. states to capitalize on online casino legalization opportunities [12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the sustainability of growth in North American online casino markets, with acceleration observed every month since March [18] - The company raised its full-year revenue guidance to between $1.1 billion and $1.12 billion, representing a 20% year-over-year increase [20] - Management remains optimistic about the potential for growth in Latin America despite challenges in Colombia [99] Other Important Information - The company ended the quarter with $273 million in unrestricted cash and no debt, providing flexibility for growth investments [17] - The company is focused on maintaining marketing leverage, with marketing expenses expected to grow at a lower rate than revenue [18] Q&A Session Summary Question: Insights on updated guidance and fourth-quarter margins - Management indicated increased marketing spend and ongoing VAT tax in Colombia as factors impacting margins [23] Question: Potential increase in gaming tax rates in Mexico - Management acknowledged tracking the situation and indicated that a tax increase from 30% to 50% is likely, but they are exploring ways to mitigate the impact [25] Question: Next steps regarding VAT tax in Colombia - Management expressed confidence that the proposed tax reform will not pass, allowing normal tax conditions to resume [28] Question: Impact of sweepstakes operators on the business - Management noted that while some states have effectively regulated sweepstakes, others still face challenges, and the proliferation of unregulated products underscores the need for legalized online gaming [58] Question: Customer reactions to sports betting outcomes - Management confirmed that player-friendly outcomes in September impacted hold but noted improvements in the percentage of betting going to in-game and parlays [82]

Investor Presentation - October 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 partnersh ...

Financial Performance - Record quarterly revenue of $278 million, representing a 20% year-over-year increase compared to $232.1 million in Q3 2024[5] - Quarterly net income of approximately $15 million, up from $3.2 million in Q3 2024[5] - Adjusted EBITDA of $36 million, reflecting a 54% increase year-over-year from $23.4 million in Q3 2024[5] - Revenue for Q3 2025 reached $277.9 million, a 19.8% increase from $232.1 million in Q3 2024[26] - Net income for Q3 2025 was $14.8 million, compared to $3.2 million in Q3 2024, representing a 357.5% increase[28] - Adjusted EBITDA for Q3 2025 was $36.0 million, up from $23.4 million in Q3 2024, reflecting a 53.6% growth[33] - Comprehensive income for Q3 2025 was $18.5 million, significantly higher than $3.1 million in Q3 2024[28] - Adjusted net income for Q3 2025 was $21,225,000, compared to $11,697,000 in Q3 2024, representing an increase of 81.5%[35] - Earnings per share (diluted) for Q3 2025 were $0.06, compared to $0.01 in Q3 2024, marking a 500% increase[26] - Adjusted earnings per share for Q3 2025 was $0.09, compared to $0.05 in Q3 2024, reflecting an increase of 80%[35] User Engagement and Growth - Monthly Active Users (MAU) in the United States and Canada reached approximately 225,000, a 34% year-over-year increase, with a 46% growth in online casino markets[5] - The company achieved record player acquisition and engagement, with a significant increase in first-time depositors[6] - The growth in North American online casino markets is noted as the second highest quarterly growth rate since early 2021[4] Guidance and Future Outlook - Full year 2025 revenue guidance raised to between $1,100 million and $1,120 million, indicating a 20% year-over-year growth at the midpoint[7] - Adjusted EBITDA guidance for 2025 increased to between $147 million and $153 million, representing a 62% year-over-year growth at the midpoint[7] Operating Costs and Cash Flow - Total operating costs and expenses for Q3 2025 were $258.4 million, an increase of 14.5% from $225.6 million in Q3 2024[34] - Cash flows from operating activities for the nine months ended September 30, 2025, were $95.9 million, compared to $80.6 million for the same period in 2024, indicating a 19.0% increase[30] - The total adjusted operating costs and expenses for the nine months ended September 30, 2025, were $729.5 million, compared to $631.1 million in the same period of 2024, reflecting a 15.6% increase[34] Balance Sheet and Equity - The company reported a net cash position of $277.6 million at the end of Q3 2025, compared to $220.4 million at the end of Q3 2024[30] - Total assets as of September 30, 2025, reached $593,165,000, up from $379,466,000 as of December 31, 2024, indicating a growth of 56.4%[37] - Total stockholders' equity attributable to Rush Street Interactive, Inc. increased to $133,078,000 as of September 30, 2025, from $78,678,000 at the end of 2024, a growth of 69.2%[37] - Players' receivables increased to $21,888,000 as of September 30, 2025, compared to $14,910,000 at the end of 2024, representing a growth of 46.8%[37] - Total current liabilities rose to $179,900,000 as of September 30, 2025, compared to $163,130,000 at the end of 2024, an increase of 10.3%[37] Share-Based Compensation - The company incurred $21.3 million in share-based compensation expense for the nine months ended September 30, 2025, down from $26.6 million in the same period of 2024[30] - The company reported an increase in adjusted weighted-average common shares outstanding - diluted to 236,373,831 as of September 30, 2025, from 233,118,670 in the same period last year[35] Company Strategy - The company emphasizes a player-first approach and commitment to innovation for long-term success[7] - The tax receivable agreement liability increased to $122,904,000 as of September 30, 2025, compared to $739,000 at the end of 2024, indicating a significant rise[37]

Core Insights - Rush Street Interactive, Inc. reported record quarterly revenue of $278 million, representing a 20% year-over-year increase, and a net income of approximately $15 million for Q3 2025 [1][6] - The company achieved an adjusted EBITDA of $36 million, which is a 54% increase compared to the same quarter last year [1][6] - Monthly active users (MAUs) in the United States and Canada grew by 46% in the online casino markets, indicating strong player engagement and acquisition [1][4] Financial Performance - Revenue for Q3 2025 was $277.9 million, up from $232.1 million in Q3 2024, marking a 20% increase [6] - Net income increased to $14.8 million in Q3 2025 from $3.2 million in Q3 2024 [6] - Adjusted EBITDA rose to $36 million in Q3 2025, compared to $23.4 million in Q3 2024, reflecting a 54% growth [6] User Engagement - The total MAUs in the United States and Canada reached approximately 225,000, a 34% year-over-year increase, with a notable 46% growth in the online casino segment [6] - The average revenue per MAU in the United States and Canada was $365, while in Latin America, it was $27 [6] Guidance and Future Outlook - The company raised its full-year 2025 revenue guidance to a range of $1,100 to $1,120 million, with a midpoint of $1,110 million, indicating a 20% year-over-year growth [7] - Adjusted EBITDA guidance for 2025 was also increased to a range of $147 to $153 million, with a midpoint of $150 million, representing a 62% year-over-year growth [8] Strategic Focus - The CEO emphasized the company's commitment to a player-first approach and the importance of product differentiation and customer experience in driving growth [3][4] - The company has seen consistent month-over-month growth in its player base since March 2025, indicating strong underlying momentum [4]

Core Points - Rogers Sugar Inc. (RSI) will hold a conference call to discuss their 2025 fourth quarter results on November 27, 2025, at 8:00 a.m. Eastern Time [1] - The conference call will be chaired by CEO Mr. Michael Walton and CFO Mr. Jean-Sébastien Couillard [1] Participation Details - To participate in the conference call, dial 1-800-717-1738 [2] - A recording of the conference call will be available by dialing 1-888-660-6264, access code 65224, until December 27, 2025 [2] - The discussion and presentation will also be accessible through a webcast [2] Contact Information - Jean-Sébastien Couillard serves as Vice President of Finance, Chief Financial Officer, and Corporate Secretary [3] - Contact number for further inquiries is (514) 940-4350 [3] - Company website is www.lanticrogers.com [3]

Core Insights - Rush Street Interactive, Inc. (RSI) has promoted Kyle Sauers to President while retaining his role as Chief Financial Officer, reflecting the company's growth and leadership evolution [1][2] - The promotion allows CEO Richard Schwartz to focus on innovation, online casino legalization, regulatory advocacy, and strategic opportunities, while Sauers will enhance operational execution and market potential [2] - Sauers joined RSI in 2020 as CFO and has significantly contributed to the finance organization and strategic decisions, extending his influence beyond traditional finance roles [2][3] Company Overview - RSI is a leading online gaming and sports entertainment company operating in the U.S., Canada, and Latin America, with brands like BetRivers, PlaySugarHouse, and RushBet [4] - The company offers real-money mobile and online operations in fifteen U.S. states and several international markets, including Colombia, Ontario, Mexico, and Peru [4] - RSI has received multiple awards for its customer service and operational excellence, including the EGR North America Awards and SBC Latinoamérica Awards [4]

Core Viewpoint - Rush Street Interactive, Inc. (RSI) is set to release its third quarter 2025 financial results on October 29, 2025, followed by a conference call to discuss the results [1]. Company Overview - RSI is an online gaming and sports entertainment company operating in the United States, Canada, and Latin America, with brands including BetRivers, PlaySugarHouse, and RushBet [4]. - The company offers real-money mobile and online operations in fifteen U.S. states and several international markets, including Colombia, Ontario, Mexico, and Peru [4]. - RSI has received multiple awards for its services, including the EGR North America Awards Customer Services Operator of the Year for five consecutive years from 2020 to 2024 [4]. - The company was the first U.S.-based online casino and sports betting operator to receive RG Check iGaming Accreditation from the Responsible Gaming Council [4].

Core Insights - Kalshi has made significant waves in the sports betting sector, setting a new trading record of over $260 million last Saturday and surpassing $275 million on Sunday, breaking its previous record of $245 million set on the 2024 election day [1] - The majority of Kalshi's trading volume, approximately 98%, is derived from college and professional football events, despite other sporting and political events occurring simultaneously [1] - The trading volume for the game between the Green Bay Packers and the Dallas Cowboys reached $57.2 million, marking it as the highest trading volume for a single game in history [1] Industry Impact - The surge in Kalshi's trading activity led to a significant drop in the U.S. stock market for gambling companies, with DraftKings falling 12%, Flutter Entertainment over 10%, and other companies experiencing declines ranging from 5% to nearly 9% [2] - Analyst David Bain from Texas Capital Securities believes that investor concerns regarding the sports betting industry are exaggerated, suggesting that the reported trading volume may not be as substantial as indicated, as the $540 million figure could include both buy and sell transactions [2] - Bain anticipates that many gambling companies will provide reassuring statements to investors at the upcoming G2E gaming exhibition in Las Vegas, viewing the current stock price declines as buying opportunities for online gambling stocks [3]

Core Viewpoint - Rush Street Interactive, Inc. (RSI) has been upgraded to a Zacks Rank 1 (Strong Buy), indicating a positive outlook on its earnings estimates, which is a significant factor influencing stock prices [1][4]. Earnings Estimates and Ratings - The Zacks rating system is based solely on a company's changing earnings picture, tracking the Zacks Consensus Estimate for EPS from sell-side analysts [2]. - The Zacks rating upgrade reflects an improvement in Rush Street Interactive's underlying business, which is expected to lead to increased stock prices due to investor confidence [6][4]. Impact of Earnings Estimate Revisions - There is a strong correlation between earnings estimate revisions and near-term stock movements, making the tracking of these revisions crucial for investment decisions [7]. - The Zacks Rank stock-rating system classifies stocks into five groups based on earnings estimates, with Zacks Rank 1 stocks historically generating an average annual return of +25% since 1988 [8]. Specifics on Rush Street Interactive - For the fiscal year ending December 2025, Rush Street Interactive is expected to earn $0.35 per share, with no year-over-year change; however, the Zacks Consensus Estimate has increased by 21.6% over the past three months [9]. - The upgrade to Zacks Rank 1 places Rush Street Interactive in the top 5% of Zacks-covered stocks, indicating a strong potential for market-beating returns in the near term [11].