Rush Street Interactive Inc (NYSE:RSI)

Q1 2025 Rush Street Interactive Inc Earnings Call Transcript

Apr 30, 2025 / 10:00 PM GMT

Release Date Price: $12.13 (-1.86%)

Transcript 10-Q8-K

Key Points

Positve

Rush Street Interactive Inc (RSI) reported a 21% year-over-year increase in revenue for Q1 2025, reaching $262 million.
Adjusted EBITDA nearly doubled compared to the same period last year, reaching $33 million.
The company experienced strong growth in both online casino (25% growth) and sports betting (11% growth) verticals.
RSI's North American monthly active users (MAUs) grew by 17% year over year, with Latin America MAUs increasing by 61%.
The company maintained a strong cash position with $228 million in unrestricted cash and no debt.

Negative

The newly imposed 19% VAT tax in Colombia negatively impacted net revenue growth, despite strong gross gaming revenue (GGR) performance.
RSI's net revenue in Colombia was flat year over year in April, despite a 55% increase in GGR.
The company anticipates facing tougher comparisons as the year progresses, particularly in markets like Delaware.
Marketing spend increased by 3% compared to last year, although it was leveraged to achieve record EBITDA.
The VAT tax in Colombia is expected to remain a headwind throughout the year, affecting net revenue and profitability.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

RSI.N - Rush Street Interactive Inc
Q1 2025 Rush Street Interactive Inc Earnings Call
Apr 30, 2025 / 10:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good day, ladies and gentlemen.

Thank you for standing by. Welcome to the Rush Street Interactive first quarter 2025 earnings conference call.

All participants are in a listen-only mode. A question and answer session will follow the formal presentation. Please note that this conference call is being recorded today, April 30th, 2025. I'll now turn the call over to Kyle Sowers, Chief Financial Officer.

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Unidentified_2 [2]
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Thank you, operator, and good afternoon. By now, everyone should have access to our first quarter, 2025

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