Rush Street Interactive Announces Fourth Quarter and Full Year 2025 Results

Core Insights - Rush Street Interactive, Inc. reported record quarterly revenue of $324.9 million for Q4 2025, representing a 28% increase year-over-year [1][7] - Full year 2025 revenue reached $1,134 million, exceeding the high end of guidance and reflecting a 23% increase compared to 2024 [1][7] - The company achieved a quarterly net income of $19.1 million and a full year net income of $74.0 million, significantly up from $6.5 million and $7.2 million in the previous year, respectively [1][7] - Adjusted EBITDA for Q4 2025 was $44.1 million, a 44% increase year-over-year, while full year adjusted EBITDA was $153.7 million, up 66% from 2024 [1][7] - The company initiated revenue guidance for full year 2026, expecting between $1,375 million and $1,425 million, and adjusted EBITDA guidance of $210 million to $230 million [1][9] Q4 2025 Highlights - Revenue for Q4 2025 was $324.9 million, compared to $254.2 million in Q4 2024 [7] - Net income for Q4 2025 was $19.1 million, up from $6.5 million in Q4 2024 [7] - Adjusted EBITDA for Q4 2025 was $44.1 million, compared to $30.6 million in Q4 2024 [7] - Monthly Active Users (MAUs) in the U.S. and Canada exceeded 278,000, a 37% increase year-over-year, with online casino MAUs up 51% [7] - Average Revenue per Monthly Active User (ARPMAU) was $331 in the U.S. and Canada, while it was $32 in Latin America [7] Full Year 2025 Highlights - Full year revenue was $1,134 million, up from $924 million in 2024 [7] - Full year net income was $74.0 million, compared to $7.2 million in 2024 [7] - Full year adjusted EBITDA was $153.7 million, up from $92.5 million in 2024 [7] - Adjusted sales and marketing expense for 2025 was $158.4 million, representing 14% of revenue, a decrease from 16.9% in 2024 [7] Future Guidance - For 2026, the company expects revenue between $1,375 million and $1,425 million, indicating a year-over-year growth of 21% to 26% [9] - Adjusted EBITDA for 2026 is expected to be between $210 million and $230 million, representing a year-over-year growth of 37% to 50% [9][10]