Revenue Performance - Revenue for Q1 2025 was $262,407,000, an increase of 20.6% compared to $217,428,000 in Q1 2024[19] - Total revenue for the three months ended March 31, 2025, was $262.4 million, a 20.6% increase from $217.4 million in the same period of 2024[57] - Revenue from online casino and online sports betting reached $260.9 million, up 20.9% from $215.6 million in the prior year[57] - Revenue from the United States and Canada was $224.9 million, representing a 19.3% increase from $188.5 million in the same period of 2024[57] Net Income and Earnings - Net income for Q1 2025 was $11,211,000, a significant improvement from a net loss of $2,209,000 in Q1 2024[20] - Earnings per share for Q1 2025 were $0.06 (basic), compared to a loss of $0.01 in Q1 2024[19] - Comprehensive income for Q1 2025 was $15,738,000, compared to a loss of $2,108,000 in Q1 2024[20] - The net income attributable to Rush Street Interactive, Inc. for the three months ended March 31, 2025 was $5.3 million, a significant recovery from a net loss of $727,000 in 2024[88] Assets and Liabilities - Total current assets increased to $287,611,000 as of March 31, 2025, compared to $285,046,000 as of December 31, 2024[17] - Total liabilities rose to $191,656,000 as of March 31, 2025, up from $181,150,000 as of December 31, 2024[17] - Players' receivables increased to $16,466,000 as of March 31, 2025, compared to $14,910,000 as of December 31, 2024[17] - The total stockholders' equity attributable to Rush Street Interactive, Inc. was $81,310,000 as of March 31, 2025, up from $78,678,000 as of December 31, 2024[17] Cash Flow and Operating Activities - Net cash provided by operating activities was $28,712,000 in Q1 2025, slightly down from $30,908,000 in Q1 2024[26] - Cash, cash equivalents, and restricted cash at the end of Q1 2025 totaled $232,010,000, compared to $194,316,000 at the end of Q1 2024, showing improved liquidity[26] - Cash paid for income taxes in Q1 2025 was $3.1 million, compared to $2.2 million in Q1 2024, reflecting a 42.0% increase[37] - Cash paid for interest in Q1 2025 was $236,000, slightly down from $252,000 in Q1 2024[37] Expenses - Operating costs and expenses for Q1 2025 totaled $247,830,000, up from $215,896,000 in Q1 2024[19] - Share-based compensation expense increased to $8,813,000 in Q1 2025 from $8,425,000 in Q1 2024, reflecting ongoing investment in employee incentives[26] - Depreciation and amortization expense rose to $9,491,000 in Q1 2025, up from $7,101,000 in Q1 2024, indicating increased asset utilization[26] - Amortization expense for intangible assets rose to $8.5 million for the three months ended March 31, 2025, compared to $6.1 million for the same period in 2024[60] Stock and Shareholder Activities - The company repurchased 498,622 shares of Class A Common Stock for approximately $5.2 million at an average price of $10.35 during the three months ended March 31, 2025[70] - The total number of Class A Common Stock shares increased to 95,509,061 by March 31, 2025, from 90,511,441 shares at the end of 2024[22] - The company granted 714,723 restricted stock units (RSUs) with service conditions during the three months ended March 31, 2025, down from 1,813,694 RSUs in the same period of 2024[72] - The total share-based compensation expense for the three months ended March 31, 2025 was $8.8 million, slightly higher than $8.4 million in 2024[82] Deferred Revenue and Receivables - Deferred revenue associated with online casino and online sports betting includes unsettled customer bets, recorded within players' liabilities[57] - Deferred revenue decreased from $10,814,000 as of March 31, 2025, to $10,022,000, while revenue recognized from deferred revenue increased from $6,312,000 to $9,733,000 year-over-year[58] - The company had receivables from affiliated land-based casinos of $21.0 million as of March 31, 2025, compared to $18.2 million at December 31, 2024[96] Commitments and Legal Proceedings - The company has total commitments of $54,130,000 under non-cancelable contracts, including $32.2 million for license and market access commitments[100] - The company is not currently involved in any material legal proceedings[98]

Group 1 - Rush Street Interactive, Inc. (RSI) reported quarterly earnings of $0.09 per share, exceeding the Zacks Consensus Estimate of $0.08 per share, and showing an increase from $0.03 per share a year ago, resulting in an earnings surprise of 12.50% [1] - The company posted revenues of $262.41 million for the quarter ended March 2025, which was slightly below the Zacks Consensus Estimate by 0.26%, but an increase from $217.43 million year-over-year [2] - Over the last four quarters, the company has surpassed consensus EPS estimates three times and topped consensus revenue estimates three times as well [2] Group 2 - The stock has underperformed the market, losing about 9.9% since the beginning of the year compared to the S&P 500's decline of 5.5% [3] - The current consensus EPS estimate for the upcoming quarter is $0.09 on revenues of $248.25 million, and for the current fiscal year, it is $0.37 on revenues of $1.06 billion [7] - The Zacks Industry Rank indicates that the Gaming industry is currently in the top 36% of over 250 Zacks industries, suggesting a favorable outlook compared to the bottom 50% [8]

Financial Data and Key Metrics Changes - The company's first quarter revenue was $262 million, representing a 21% year-over-year increase, while adjusted EBITDA was $33.2 million, nearly double compared to the same period last year [8][22]. - Gross profit margins increased by 125 basis points year-over-year to 34.9%, driven by revenue diversification and higher growth in more profitable markets [24]. - Marketing spend was $38.8 million, or 15% of revenue, down from 17% of revenue in the same quarter last year, indicating improved marketing efficiency [25][26]. Business Line Data and Key Metrics Changes - Online casino revenue grew by 25% year-over-year, while sports betting revenue increased by 11% [9][22]. - In North America, monthly active users (MAUs) grew by 17% year-over-year, with an average revenue per monthly active user (ARPMAU) of $368, up 3% year-over-year [10][22]. - Latin America saw MAUs increase by 61% year-over-year, reaching a new quarterly record of 354,000 [10][23]. Market Data and Key Metrics Changes - North American markets showed revenue growth in 15 out of 16 online markets, with Michigan revenue up 40% and Delaware exceeding 80% growth in its first year of comparisons [12]. - In Colombia, gross gaming revenue (GGR) was up 55% in local currency, despite a 19% value-added tax on player deposits [13][14]. - The company is optimistic about the potential growth in Alberta, Canada, as legislation for online gaming progresses [17]. Company Strategy and Development Direction - The company focuses on innovation and enhancing player experience to drive growth and profitability [8][20]. - The strategy includes differentiating offerings to improve user engagement and retention across product verticals [10][20]. - The company is monitoring legislative developments in various U.S. states to capitalize on potential online gaming opportunities [18][19]. Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate challenges, including the impact of taxes in Colombia, while maintaining strong player activity and market share [14][32]. - The company anticipates continued growth in revenue and adjusted EBITDA for 2025, with guidance remaining between $1.1 billion and $1.8 billion in revenue [27][28]. - Management highlighted the resilience of the online gaming sector, particularly during challenging economic times, and the potential for increased tax revenues from legalized online casinos [19][20]. Other Important Information - The company ended the quarter with $228 million in unrestricted cash and no debt, generating approximately $25 million in cash during the quarter [26]. - The company repurchased approximately 500,000 shares at an average price of $10.35 under its share repurchase program [27]. Q&A Session Summary Question: Insights on Colombia's competitive landscape and market share - Management indicated that they are absorbing the tax through higher bonusing, similar to competitors, and are confident in retaining or growing market share despite the challenges [32]. Question: Growth expectations for Delaware in 2025 - Management expects continued growth in Delaware, although the growth rate may slow as the market matures [34][36]. Question: Adjustments to business model in Colombia - Management is continuously adjusting strategies to maximize net revenue and reduce deposit turnover in response to the VAT tax [42][44]. Question: Impact of Pennsylvania joining the multistate Internet gaming agreement - Management expressed excitement about the launch in Pennsylvania and the potential for increased player liquidity across platforms [46]. Question: Tax impact from Colombia on revenue and EBITDA - Management noted that the VAT tax has significantly impacted net revenue growth, with expectations for meaningful growth once the tax is removed [52][94]. Question: User growth concentration in North America - Management indicated that Delaware contributed mid-single digits to the overall 17% user growth, with most growth coming from higher-value markets [87][88].

Financial Data and Key Metrics Changes - The company's first quarter revenue was $262 million, representing a 21% year-over-year increase, while adjusted EBITDA was $33.2 million, nearly double compared to the same period last year [6][21]. - Gross profit margins increased by 125 basis points year-over-year to 34.9%, driven by revenue diversification and higher growth in more profitable markets [23]. - Marketing spend was $38.8 million, or 15% of revenue, down from 17% in the previous year, indicating improved marketing efficiency [24]. Business Line Data and Key Metrics Changes - Online casino revenue grew by 25% year-over-year, while sports betting revenue increased by 11% [6][21]. - In North America, monthly active users (MAUs) grew by 17% year-over-year, with an average revenue per monthly active user (ARPMAU) of $368, up 3% year-over-year [21]. - In Latin America, MAUs increased by 61% year-over-year, reaching a new quarterly record of 354,000 [22]. Market Data and Key Metrics Changes - North American markets saw revenue growth in 15 out of 16 online markets, with Michigan revenue up 40% and Delaware exceeding 80% growth [11][12]. - In Colombia, gross gaming revenue (GGR) was up 55% in local currency, despite a temporary 19% VAT on player deposits [12][13]. - The company anticipates that the Colombian VAT tax will impact net revenue but expects significant upside if the tax is removed [27][52]. Company Strategy and Development Direction - The company focuses on innovation and enhancing player experience to attract and retain high-value players [6][8]. - The iGaming Alberta Act is progressing, which could open new opportunities for online gaming in Alberta, transitioning from a monopoly to a regulated market [15]. - The company is well-positioned in the online casino and sports betting space, emphasizing the importance of legalizing online casinos for state revenue generation [16][17]. Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate challenges, including the impact of the VAT tax in Colombia, while maintaining strong player activity and market share [12][42]. - The company remains optimistic about growth opportunities in existing markets and potential expansion into new international markets [76][78]. - Management reiterated full-year revenue guidance of $1.1 billion to $1.8 billion, with adjusted EBITDA expected between $115 million and $135 million, reflecting a 35% year-over-year increase [27][28]. Other Important Information - The company ended the quarter with $228 million in unrestricted cash and no debt, generating approximately $25 million in cash during the quarter [25][26]. - The company repurchased approximately 500,000 shares at an average price of $10.35 under its share repurchase program [27]. Q&A Session Summary Question: Insights on Colombia's competitive landscape and market share - Management confirmed that they are bonusing at higher rates to offset the VAT tax, similar to competitors, and expressed confidence in retaining or growing market share despite the challenges [31][32]. Question: Growth expectations for Delaware in 2025 - Management expects continued growth in Delaware, although growth rates may slow as the market matures, with potential for significant future revenue growth [35][36]. Question: Adjustments to business model in Colombia - Management is continuously adjusting strategies to maximize net revenue in Colombia, including reducing marketing spend and monitoring competitor actions [40][41]. Question: Impact of Pennsylvania joining the multistate Internet gaming agreement - Management expressed excitement about the launch in Pennsylvania and the potential for increased player liquidity across platforms [44][45]. Question: Marketing leverage in a competitive environment - Management attributed marketing leverage to a focus on customer experience and differentiation, allowing the company to maintain a reasonable customer acquisition cost [58][60]. Question: Guidance for revenue growth in 2025 - Management indicated that revenue growth may decelerate in Q2 and Q3 compared to Q1, with Q4 expected to be the strongest quarter of the year [62][63]. Question: Tax impact from Colombia on EBITDA - Management noted that the VAT tax has significantly impacted net revenue, but GGR growth remains strong, indicating potential for future revenue growth once the tax is removed [93][95].

Financial Highlights - RSI achieved record revenue of $262 million in 1Q25, up 21% year-over-year[8] - Adjusted EBITDA grew to a record $33 million in 1Q25, up 95% year-over-year[9] - The company reiterated FY25 revenue guidance of $1.01 billion - $1.08 billion, implying 13% year-over-year growth at the midpoint[9] - FY25 Adjusted EBITDA guidance is $115 million – $135 million, implying 35% growth at the midpoint[9] - $5.2 million of Class A common stock was repurchased under the Company's $50 million authorized buyback program in 1Q25[11] Business Growth - Online Casino revenue grew 25% and OSB (Online Sports Betting) revenue grew 11% year-over-year[12] - US and Canadian markets launched since 2021, combined with LATAM, saw revenue growth of 37% year-over-year[13] - Delaware GGR (Gross Gaming Revenue) annual run rate grew to over $135 million during 1Q25[13] - Revenue from markets outside of Illinois and Pennsylvania grew to 64% of total revenue in 1Q25[15] - LATAM MAUs grew 61% year-over-year, a new quarterly record[10] Market Position and Strategy - The company has a total addressable market of approximately $131 billion[20] - The U S market is estimated at $76.6 billion for OSB and $33.2 billion for iCasino[20] - Canada is estimated at $4.1 billion for OSB and $1.4 billion for iCasino[20] - Latin America is estimated at $7.9 billion for OSB and $8.0 billion for iCasino[20]

Financial Performance - First quarter revenue was $262 million, representing a 21% increase year-over-year from $217.4 million[5] - Net income for the first quarter was $11.2 million, compared to a net loss of $2.2 million in the same quarter of 2024[5] - Adjusted EBITDA reached $33.2 million, up 95% year-over-year from $17.1 million in Q1 2024[5] - Revenue for Q1 2025 was $262,407,000, a 20.7% increase from $217,428,000 in Q1 2024[24] - Net income for Q1 2025 was $11,211,000, compared to a net loss of $2,209,000 in Q1 2024[26] - Adjusted EBITDA for Q1 2025 was $33,226,000, up from $17,058,000 in Q1 2024, representing a 94.8% increase[28] - Comprehensive income for Q1 2025 was $15,738,000, compared to a loss of $2,108,000 in Q1 2024[26] - Adjusted net income for Q1 2025 was $20,369,000, significantly higher than $6,216,000 in Q1 2024[31] - Earnings per share (diluted) for Q1 2025 was $0.05, compared to a loss of $0.01 per share in Q1 2024[31] User Metrics - Monthly Active Users (MAUs) in the U.S. and Canada were approximately 203,000, a 17% increase year-over-year, while MAUs in Latin America were approximately 354,000, up 61% year-over-year[5] - Average Revenue per Monthly Active User (ARPMAU) in the U.S. and Canada was $368, a 3% increase year-over-year[5] Guidance and Projections - Full year 2025 revenue guidance is between $1,010 million and $1,080 million, maintaining the midpoint of prior guidance[4] - Full year 2025 Adjusted EBITDA guidance is reiterated at a range of $115 million to $135 million, with a midpoint of $125 million, reflecting a 35% growth compared to $92.5 million in 2024[6] Stock and Shareholder Actions - The company repurchased $5.2 million of Class A common stock under its $50 million buyback program[5] - Weighted average common shares outstanding (diluted) increased to 234,292,159 in Q1 2025 from 76,027,427 in Q1 2024[31] Operational Insights - The strong performance is attributed to innovation and enhanced player experience, alongside efficient acquisition and retention strategies[3] - RSI operates in fifteen U.S. states and several international markets, focusing on online gaming and sports betting[10] Expenses - Total operating costs and expenses for Q1 2025 were $247,830,000, an increase from $215,896,000 in Q1 2024[29] - The increase in sales and marketing expenses was $42,139,000 in Q1 2025, up from $38,404,000 in Q1 2024[29] Foreign Currency Impact - The company reported a foreign currency translation adjustment of $4,527,000 in Q1 2025[26]

Financial Performance - First quarter revenue reached $262 million, representing a 21% increase year-over-year from $217.4 million in Q1 2024 [1][8] - Net income for the first quarter was $11.2 million, a significant turnaround from a net loss of $2.2 million in the same period last year [1][8] - Adjusted EBITDA for the first quarter was $33.2 million, up 95% compared to $17.1 million in Q1 2024 [1][8] Guidance - The company reiterated its full-year 2025 revenue guidance, expecting it to be between $1,010 million and $1,080 million, with a midpoint of $1,045 million indicating a 13% growth from $924 million in 2024 [4] - Adjusted EBITDA guidance for the full year 2025 is set between $115 million and $135 million, with a midpoint of $125 million, which is a 35% increase from $92.5 million in 2024 [5] User Engagement - Monthly Active Users (MAUs) in the United States and Canada were approximately 203,000, reflecting a 17% year-over-year increase [8] - MAUs in Latin America reached approximately 354,000, marking a 61% increase year-over-year [8] - Average Revenue per Monthly Active User (ARPMAU) in the United States and Canada was $368, up 3% year-over-year, while ARPMAU in Latin America was $36, down from $44 last year [8] Stock Buyback - The company repurchased $5.2 million of Class A common stock under its $50 million authorized buyback program [8]

Company Information - Rogers Sugar Inc. (RSI) will hold a conference call to discuss their 2025 second quarter results on May 13, 2025, at 8:00 a.m. Eastern Time [1] - The conference call will be chaired by Mr. Michael Walton, Chief Executive Officer, and Mr. Jean-Sébastien Couillard, Chief Financial Officer [1] Participation Details - Interested participants can join the call by dialing 1-800-717-1738 [2] - A recording of the conference call will be available by dialing 1-888-660-6264, access code 72827, until June 13, 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]

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].