Rush Street Interactive(RSI)2025-02-26 21:20Revenue Performance - Fourth quarter revenue was $254.2 million, an increase of 31% year-over-year from $193.9 million in Q4 2023[4] - Full year 2024 revenue reached $924.1 million, up 34% compared to $691.2 million in 2023[4] - Revenue for the three months ended December 31, 2024, was $254.167 million, a 31% increase from $193.851 million in the same period of 2023[22] - The company is initiating full year 2025 revenue guidance of between $1,010 million and $1,080 million, representing a 13% year-over-year growth at the midpoint[9] Profitability - Fourth quarter net income was $6.5 million, a turnaround from a net loss of $5.5 million in Q4 2023[4] - Net income attributable to Rush Street Interactive, Inc. for the three months ended December 31, 2024, was $2.025 million, compared to a net loss of $1.727 million in the same period of 2023[22] - Adjusted net income for the twelve months ended December 31, 2024, was $43.263 million, compared to an adjusted net loss of $30.035 million in 2023[31] - Earnings per share attributable to Rush Street Interactive, Inc. for the three months ended December 31, 2024, was $0.02, compared to a loss of $0.02 per share in the same period of 2023[31] Adjusted EBITDA - Adjusted EBITDA for Q4 2024 was $30.6 million, up 166% year-over-year from $11.5 million in Q4 2023[4] - Full year 2024 Adjusted EBITDA was $92.5 million, an increase of 1,033% compared to $8.2 million in 2023[4] - Adjusted EBITDA for the three months ended December 31, 2024, was $30.645 million, significantly up from $11.513 million in the same period of 2023[27] - Adjusted EBITDA guidance for 2025 is set between $115 million and $135 million, indicating a 35% year-over-year growth at the midpoint[9] User Metrics - Monthly Active Users (MAUs) in the U.S. and Canada were approximately 205,000, up 28% year-over-year, while MAUs in Latin America were approximately 348,000, up 71% year-over-year[4] - Average Revenue per Monthly Active User (ARPMAU) in the U.S. and Canada was $346, slightly up from $345 in the prior year[4] Operating Costs - Total operating costs and expenses for the three months ended December 31, 2024, were $242.051 million, compared to $197.378 million in the same period of 2023, reflecting a 22.6% increase[22] - Total adjusted operating costs and expenses for the three months ended December 31, 2024, were $232.598 million, compared to $189.953 million in the same period of 2023[28] Cash Position - Unrestricted cash and cash equivalents as of December 31, 2024, were $229 million, an increase of $61 million for the full year[4] Comprehensive Income - The company reported a comprehensive income of $2.852 million for the three months ended December 31, 2024, compared to a comprehensive loss of $3.630 million in the same period of 2023[25] Foreign Currency Impact - The company experienced a foreign currency translation adjustment loss of $3.636 million for the three months ended December 31, 2024[25] Share Information - The weighted average common shares outstanding for the three months ended December 31, 2024, was 96,881,224, compared to 71,601,297 in the same period of 2023[31]