Rush Street Interactive, Inc. Leases Disclosure
| Years Ended December 31, | |||||||||||||||||
| ($ in thousands) | 2025 | 2024 | 2023 | ||||||||||||||
| Operating lease cost | $ | 1,208 | $ | 1,080 | $ | 770 | |||||||||||
| Variable lease cost | 389 | 172 | 267 | ||||||||||||||
| Short-term lease cost | 405 | 559 | 867 | ||||||||||||||
Finance lease cost: | |||||||||||||||||
Amortization of finance lease right-of-use asset | 2,392 | 1,829 | 1,272 | ||||||||||||||
Interest on finance lease liabilities | 199 | 169 | 85 | ||||||||||||||
| Total lease expenses | $ | 4,593 | $ | 3,809 | $ | 3,261 | |||||||||||
| Years Ended December 31, | |||||||||||||||||
| ($ in thousands) | 2025 | 2024 | 2023 | ||||||||||||||
| Operating cash flows from operating leases | $ | 893 | $ | 832 | $ | 732 | |||||||||||
| Right-of-use assets obtained in exchange for new or modified operating lease liabilities | $ | 1,349 | $ | 1,582 | $ | 210 | |||||||||||
Right-of-use assets obtained in exchange for new or modified finance lease liabilities | $ | 3,482 | $ | 1,986 | $ | 2,423 | |||||||||||
| Weighted-average remaining lease term (in years) – operating leases | 2.8 | 3.0 | 2.5 | ||||||||||||||
| Weighted-average remaining lease term (in years) – finance leases | 2.4 | 2.7 | 3.4 | ||||||||||||||
| Weighted-average discount rate – operating leases | 8.6 | % | 9.2 | % | 6.7 | % | |||||||||||
| Weighted-average discount rate – finance leases | 5.5 | % | 5.3 | % | 7.7 | % | |||||||||||
| Account | Financial Statement Line Item | ||||
| Operating lease right-of-use asset | Operating lease assets | ||||
| Finance lease right-of-use asset, net | Property and equipment, net | ||||
| Operating lease liabilities | Other current liabilities and Other non-current liabilities | ||||
| Finance lease liabilities | Other current liabilities and Other non-current liabilities | ||||
| Operating lease expense | General and administrative | ||||
| Finance lease amortization expense | Depreciation and amortization | ||||
| Finance lease interest expense | Interest income, net | ||||
| ($ in thousands) | |||||
| Year ending December 31, 2026 | $ | 1,190 | |||
| Year ending December 31, 2027 | 986 | ||||
| Year ending December 31, 2028 | 708 | ||||
| Year ending December 31, 2029 | 238 | ||||
| Year ending December 31, 2030 | — | ||||
| Total undiscounted future cash flows | 3,122 | ||||
| Less: present value discount | (378) | ||||
| $ | 2,744 | ||||
| ($ in thousands) | |||||
| Year ending December 31, 2026 | $ | 1,622 | |||
| Year ending December 31, 2027 | 1,528 | ||||
| Year ending December 31, 2028 | 522 | ||||
| Year ending December 31, 2029 | — | ||||
| Year ending December 31, 2030 | — | ||||
| Total undiscounted future cash flows | 3,672 | ||||
| Less: present value discount | (284) | ||||
| $ | 3,388 | ||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 18, 2026 | Showing above |
| 2024 | Feb 28, 2025 | |
| 2023 | Mar 7, 2024 | |
| 2022 | Mar 2, 2023 | |
| 2021 | Mar 7, 2022 | |
| 2020 | Mar 25, 2021 | |
About Leases Disclosures
Lease disclosures under ASC 842 provide a comprehensive view of a company's leased asset portfolio, including the split between operating and finance leases, discount rates used to present-value future payments, and the maturity schedule of lease obligations. This section reveals a significant source of off-balance-sheet commitments that were largely hidden before the current standard.
Key signals: the weighted-average discount rate affects the size of recorded lease liabilities — a higher rate reduces the reported obligation, so compare the chosen rate against the company's incremental borrowing rate. The operating versus finance lease mix affects both EBITDA and operating income presentation. Watch the maturity table for concentration risk: large payment cliffs in specific years may create cash flow pressure. Variable lease payments excluded from the liability measurement represent real obligations that do not appear on the balance sheet. Compare total lease costs against prior-year operating lease expense to assess the true economic burden.