Rush Street Interactive, Inc.

Listed Company

RSICIK 0001793659NYSELarge AcceleratedServices-Miscellaneous Amusement & RecreationDelawareFY ends Dec 31

Period

FY 2025

Revenue

$1.13B

Net Income

$33.31M

Total Assets

$658.51M

Equity

$147.24M

Shares Out

204.79M

Op. Cash Flow

$165.00M

Business

Rush Street Interactive, Inc. is an online gaming and entertainment company that operates real‑money online casino and online sports betting platforms primarily in the U.S., Canada and Latin America. It offers real‑money online casino, online sports betting, retail sports betting services, social gaming and related technology and loyalty programs, supported by a proprietary online gaming platform. Its key operating segments are B2C direct‑to‑consumer operations and B2B platform and retail services, delivered under brands such as BetRivers, PlaySugarHouse and RushBet. It distributes offerings via websites and mobile apps, app stores, retail betting terminals and partnerships with bricks‑and‑mortar casinos, Native American tribes and local market partners in jurisdictions including multiple U.S. states, Ontario (Canada), Colombia, Mexico and Peru.

Summary from filing dated 2025-02-28

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenue	1,134	924	691	592	488
Costs of revenue	742	602	465	415	332
Sales and marketing	165	159	161	220	190
General and administrative	101	106	87	68	56
Depreciation and amortization	40	32	30	14	4
Total operating costs and expenses	1,047	899	743	717	582
Income (loss) from operations	87	25	−52	−125	−94
Change in tax receivable agreement liability	−108	−700,000	0	—	—
Interest income, net	9	7	3	−573,000	—
Total other (expense) income	−99	7	3	—	—
(Loss) income before income taxes	−11	32	−49	−125	−66
Income tax (benefit) expense	−85	25	11	9	5
Net income (loss)	74	7	−60	−134	−71
Net income (loss) attributable to non-controlling interests	41	5	−42	−96	−52
Net income (loss) attributable to Rush Street Interactive, Inc.	33	2	−18	−39	−19
Net income (loss) per common share attributable to Rush Street Interactive, Inc. - basic (in USD per share)	0.35	0.03	−0.27	−0.61	−0.35
Weighted average common shares outstanding - basic (in shares)	96	82	69	64	56
Net loss per common share attributable to Rush Street Interactive, Inc. - diluted (in USD per share)	0.31	0.03	−0.27	−0.61	−0.51
Weighted average common shares outstanding - diluted (in shares)	236	88	69	64	57

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	336	229	168	180	281
Restricted cash	4	4	3	26	19
Players' receivables	16	15	11	11	6
Prepaid expenses and other current assets	30	19	14	11	7
Total current assets	407	285	229	264	342
Intangible assets, net	76	77	75	69	53
Property and equipment, net	8	7	9	10	7
Operating lease assets	3	2	1	2	2
Deferred tax assets, net	158	522,000	—	—	—
Other assets	7	7	5	5	5
Total assets	659	379	319	350	409
Accounts payable	42	26	32	30	7
Accrued expenses	82	73	51	65	48
Players' liabilities	48	44	42	43	24
Other current liabilities	40	21	12	4	3
Total current liabilities	210	163	138	144	84
Tax receivable agreement liability, non-current	129	739,000	—	—	—
Other non-current liabilities	16	17	15	244,000	315,000
Total liabilities	355	181	152	159	101
Commitments and contingencies (Note 14)	—	—	—	—	—
Treasury stock, at cost; 733,019 and nil shares as of December 31, 2025 and 2024, respectively	−3	0	—	—	—
Additional paid-in capital	252	218	192	178	167
Accumulated other comprehensive income (loss)	1	−3	−100,000	−2	−475,000
Accumulated deficit	−103	−136	−138	−120	−81
Total stockholders equity attributable to Rush Street Interactive, Inc.	147	79	54	56	85
Non-controlling interests	156	120	112	135	222
Total stockholders equity	303	198	166	191	308
Total liabilities and stockholders equity	659	379	319	350	409

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Deferred income tax	−112	−143,000	−255,000	−50,000	64,000
Share-based compensation expense	26	35	30	19	25
Noncash lease expense	999,000	891,000	697,000	616,000	355,000
Long-lived assets write-off	0	0	683,000	0	0
Players receivables	−515,000	−5	658,000	−5	−5
Due from affiliates	−2	15	2	−8	605,000
Prepaid expenses and other assets	−8	−8	−228,000	−4	−5
Accounts payable, accrued expenses and other liabilities	36	25	−9	39	—
Players liabilities	3	2	−377,000	18	16
Net cash provided by (used in) operating activities	165	106	−6	−60	−48
Internally developed software costs	−29	−24	−23	−17	−4
Acquisition of gaming licenses	−4	−4	−7	−5	−24
Acquisition of other intangibles	−3	−2	−765,000	0	—
Short-term investments	−1	−2	−3	0	0
Purchases of property and equipment	−767,000	−925,000	−1	−4	−4
Acquisition of developed technology	−225,000	0	0	0	−2
Investments in equity securities	0	0	−470,000	0	−2
Proceeds from long-term time deposits	0	0	2	−689,000	−748,000
Net cash used in investing activities	−37	−33	−34	−29	−37
Payments for employee taxes related to shares withheld	−26	−1	0	0	—
Repurchase of Class A Common Stock	−8	0	0	0	−3
Principal payments of finance lease liabilities	−3	−2	−518,000	−1	−2
Tax distributions to non-controlling interests	−700,000	0	0	—	—
Proceeds from exercise of stock options	176,000	67,000	0	0	—
Net cash used in financing activities	−37	−3	−518,000	−1	126
Effect of exchange rate changes on cash, cash equivalents and restricted cash	17	−9	5	−4	−2
Net change in cash, cash equivalents and restricted cash	108	62	−35	−94	38
Right-of-use assets obtained in exchange for new or modified operating lease liabilities	1	2	210,000	965,000	810,000
Right-of-use assets obtained in exchange for new or modified finance lease liabilities	3	2	2	1	3
Allocation of equity and non-controlling interests upon changes in RSILP ownership	8	13	5	4	11
Shares withheld for employee taxes in Other Current Liabilities	363,000	2	0	0	—
Investing activities in Accounts Payable and Accrued Expenses	363,000	662,000	821,000	—	—
Cash paid for income taxes	33	17	7	7	4
Cash paid for interest	918,000	908,000	938,000	937,000	123,000

Filings

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