Rush Street Interactive(RSI)2025-04-30 20:23Financial 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]