Rush Street Interactive Announces Fourth Quarter 2024 and Full Year 2024 Results

Core Insights - Rush Street Interactive, Inc. reported a fourth quarter revenue of $254 million, representing a 31% year-over-year increase [1][6] - The full year 2024 revenue reached $924 million, up 34% compared to 2023 [1][6] - The company achieved a fourth quarter net income of $6.5 million, a significant turnaround from a net loss of $5.5 million in the same quarter of the previous year [1][6] - Adjusted EBITDA for the fourth quarter was $30.6 million, reflecting a 166% increase year-over-year [1][6] - For the full year 2024, adjusted EBITDA was $92.5 million, up 1,033% from $8.2 million in 2023 [1][6] - The company has initiated revenue guidance for full year 2025, expecting between $1,010 million and $1,080 million, and adjusted EBITDA guidance of between $115 million and $135 million [1][12] Fourth Quarter 2024 Highlights - Revenue for the fourth quarter was $254.2 million, an increase from $193.9 million in Q4 2023 [6] - Monthly Active Users (MAU) in the U.S. and Canada were approximately 205,000, up 28% year-over-year [6] - MAUs in Latin America were approximately 348,000, representing a 71% increase year-over-year [6] - Average Revenue per Monthly Active User (ARPMAU) in the U.S. and Canada was $346, slightly up from $345 in the prior year [6] Full Year 2024 Highlights - Total revenue for the full year was $924.1 million, compared to $691.2 million in 2023 [6] - The company reported a net income of $7.2 million for the full year, a recovery from a net loss of $60.1 million in 2023 [6] - Adjusted advertising and promotions expense decreased by 1.6% to $155.8 million from $158.4 million in 2023 [6] - Unrestricted cash and cash equivalents as of December 31, 2024, were $229 million, an increase of $61 million for the year [6] Management Commentary - The CEO expressed excitement over the record performance in revenue and adjusted EBITDA, highlighting broad-based growth across geographies and products [4] - The company is focused on player needs and leveraging technology to enhance user experience, which has driven growth and profitability [4] - Looking ahead to 2025, the company is optimistic about opportunities stemming from investments in technology and strategic partnerships [5]