Rush Street Interactive(US:RSI)2025-10-29 20:21Financial 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]