Core Insights - Rogers Sugar Inc. reported strong fourth quarter and full-year results, demonstrating resilience in a challenging market, with consolidated adjusted EBITDA of $39.5 million for Q4 2025 and $150.4 million for the fiscal year [1][2][3] Financial Performance - Q4 2025 revenues were $322.7 million, a decrease from $333.0 million in Q4 2024, while year-to-date revenues increased to $1.31 billion from $1.23 billion [2][3] - Gross margin for Q4 2025 was $44.0 million, down from $49.7 million in Q4 2024, but adjusted gross margin increased to $51.9 million from $50.1 million [2][3] - Adjusted net earnings for Q4 2025 were $19.8 million, compared to $18.8 million in Q4 2024, with adjusted net earnings per share rising to $0.16 from $0.14 [3][44] Sugar Segment Highlights - Sugar segment revenues for Q4 2025 were $259.0 million, down from $272.8 million in Q4 2024, while adjusted EBITDA increased to $35.1 million from $34.2 million [5][6] - Sales volume in the Sugar segment for fiscal 2025 was 781,500 metric tonnes, an increase of 28,100 metric tonnes compared to fiscal 2024 [6][8] - Adjusted gross margin per metric tonne in the Sugar segment increased to $237 from $217 year-over-year [10][43] Maple Segment Highlights - Maple segment revenues for Q4 2025 were $63.7 million, up from $60.2 million in Q4 2024, with adjusted EBITDA increasing to $4.4 million from $4.1 million [12][13] - Sales volume in the Maple segment for fiscal 2025 was 14% higher than the previous year, driven by increased sales to existing and new customers [6][12] LEAP Project - The LEAP Project aims to expand refining and logistics capacity in Eastern Canada, with an expected total cost between $280 million and $300 million, and anticipated in-service in the first half of 2027 [16][20] - As of September 27, 2025, $128.4 million had been capitalized for the LEAP Project, including $95.2 million spent in fiscal 2025 [22][24] Outlook - The company expects continued strong financial results in 2026, with stable underlying demand for sugar and anticipated pricing increases aligned with inflation [23][25] - Projected sales volume for the Sugar segment in 2026 is estimated between 750,000 and 770,000 metric tonnes, reflecting a slight reduction compared to 2025 [25][26] - The Maple segment is expected to see a sales volume growth of approximately 3% in 2026, contingent on market conditions and potential US tariffs [33][34]

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 Mr. Michael Walton, CEO, and Mr. Jean-Sébastien Couillard, CFO [1] Participation Details - To participate in the 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 at a specified URL [2] Contact Information - Jean-Sébastien Couillard serves as Vice President of Finance, CFO, and Corporate Secretary, with contact number 514-940-4350 [3] - Additional information can be found on the company's website [3]

Financial Performance - Revenue for Q3 2025 reached $277.9 million, a 19.7% increase from $232.1 million in Q3 2024[18] - Net income for Q3 2025 was $14.8 million, compared to $3.2 million in Q3 2024, representing a significant year-over-year growth[19] - The company reported a comprehensive income of $18.5 million for Q3 2025, compared to $3.1 million in Q3 2024[19] - Operating income for the nine months ended September 30, 2025, was $58.7 million, significantly higher than $12.2 million for the same period in 2024[18] - For the nine months ended September 30, 2025, net income increased significantly to $54.887 million compared to $748,000 in the same period of 2024[25] - The company reported a net income of $1.289 billion for the quarter, reflecting a 6% increase compared to the previous quarter[22] - Consolidated net income for the three months ended September 30, 2025, was $14,846 thousand, compared to $3,239 thousand for the same period in 2024, marking a significant increase of 358%[102] Revenue Breakdown - Total revenue for the three months ended September 30, 2025, was $277.9 million, a 19.7% increase from $232.1 million in the same period of 2024[60] - Online casino and online sports betting revenue for the nine months ended September 30, 2025, reached $804.5 million, up 20.9% from $664.6 million in the same period of 2024[60] - Retail sports betting revenue for the three months ended September 30, 2025, was $538, a decrease of 34.9% compared to $827 for the same period in 2024[60] - Social gaming revenue for the nine months ended September 30, 2025, increased to $3.7 million, compared to $3.3 million for the same period in 2024, reflecting a growth of 12.6%[60] - Revenue from the United States and Canada for the nine months ended September 30, 2025, was $701,848 thousand, up 22.8% from $571,439 thousand in 2024[61] Assets and Liabilities - Total assets as of September 30, 2025, amounted to $593.2 million, up from $379.5 million as of December 31, 2024[16] - Total liabilities increased to $318.8 million as of September 30, 2025, compared to $181.2 million at the end of 2024[16] - Total assets as of September 30, 2025, were $9.795 billion, with total liabilities of $4.555 billion[22] - Total cash, cash equivalents, and restricted cash at the end of the period was $277.553 million, up from $220.359 million at the end of September 2024, representing a year-over-year increase of approximately 25.9%[25] Shareholder Equity and Stock Transactions - As of March 31, 2025, the total stockholders' equity attributable to Rush Street Interactive, Inc. is $195,361,000, with an accumulated deficit of $130,610,000[21] - The balance of Class A Common Stock as of June 30, 2025, is 96,002,368 shares, with total additional paid-in capital of $241,125,000[21] - The company repurchased 733,019 shares of Class A Common Stock for approximately $7.6 million during the nine months ended September 30, 2025, at an average price of $10.41[72] - The company issued 2,684,333 shares of Class A Common Stock under the equity compensation plan, resulting in a reduction of $9,293,000 due to employee taxes[21] - The total stockholders' equity as of June 30, 2025, increased to $252,241,000, reflecting growth in the company's financial position[21] Cash Flow and Investments - Cash provided by operating activities for the nine months ended September 30, 2025, was $95.915 million, up from $80.553 million in 2024, reflecting a growth of approximately 19.0%[25] - The company reported a net cash used in investing activities of $28.867 million for the nine months ended September 30, 2025, compared to $26.215 million in 2024, indicating an increase in investment activities[25] - The company reported a net cash used in financing activities of $34.403 million for the nine months ended September 30, 2025, compared to $682,000 in 2024, indicating increased financing activities[25] Tax and Deferred Income - The company incurred $121.409 million in deferred income taxes for the nine months ended September 30, 2025, compared to a tax receivable agreement expense of $204, indicating a significant change in tax-related expenses[25] - The Company recognized an income tax expense of $7.2 million for the three months ended September 30, 2025, compared to $5.3 million in 2024, and a tax benefit of $(102.8) million for the nine months ended September 30, 2025[87] - The effective tax rates for the three and nine months ended September 30, 2025, were 32.6% and 214.6%, respectively, compared to 61.9% and 95.8% in 2024[87] Future Outlook and Strategic Initiatives - The company plans to expand its market presence through strategic acquisitions and new product launches in the upcoming quarters[22] - The future outlook remains positive, with guidance suggesting continued revenue growth in the next fiscal year[22] - The company is focusing on enhancing its technology development to drive future growth and innovation[22] - New product launches are anticipated to contribute an additional $200 million in revenue over the next fiscal year[22] - Market expansion efforts are focused on increasing presence in Asia, targeting a 10% market share by the end of the next fiscal year[22] Accounting and Compliance - The company is evaluating the impact of new accounting standards on its financial statements, including ASU 2023-09 and ASU 2024-03, which will affect disclosures starting in 2025 and 2026 respectively[51][52] - The company will adopt new accounting standards for income tax disclosures starting with the fiscal year ending December 31, 2025[51] - The company is currently evaluating the impact of new accounting standards on its financial statements and disclosures[53] Legal and Regulatory Environment - The Company is not currently involved in any material legal proceedings, indicating a stable legal environment for operations[107]

Group 1 - The article does not provide any specific content related to a company or industry [1]

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]

Financial Highlights - RSI achieved a record quarterly revenue of $278 million in 3Q25, representing a 20% year-over-year increase[8] - Adjusted EBITDA grew to $36 million in 3Q25, a 54% year-over-year increase[9] - The company raised its FY25 revenue guidance to $1.10 billion - $1.12 billion, implying a 20% year-over-year growth at the midpoint[9] - FY25 Adjusted EBITDA guidance was raised to $147 million – $153 million, implying 62% growth at the midpoint[9] - RSI ended the quarter with $273 million in unrestricted cash and no debt[11] User Growth - U S and Canada Monthly Active Users ("MAUs") increased by 34% year-over-year[10] - LATAM MAUs grew by 30% year-over-year[10] - North American MAUs in online casino markets grew 46% year-over-year[14] Revenue Growth by Market - Online Casino revenue grew 34% year-over-year[12] - US and Canadian markets launched since 2021 saw revenue growth of 41% year-over-year[13] - During the third quarter, Online Casino revenue grew 74%, 48% and 37% year-over-year in DE, MI and NJ, respectively[15] Market Positioning and TAM - The Total Addressable Market (TAM) at maturity is estimated to be ~$164 billion[18] - The U S iCasino TAM is ~$97.3 billion, Canada is ~$5.1 billion, and Latin America is ~$13.2 billion[18] - The U S OSB TAM is ~$34.3 billion, Canada is ~$1.4 billion, and Latin America is ~$12.5 billion[18]

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]