Q3 2025 Rush Street Interactive Inc Earnings Call Transcript
Key Points
- Revenue reached a record $277.9 million, marking a 20% year-over-year increase and the 10th consecutive quarter of sequential revenue growth.
- Adjusted EBITDA increased by 54% year-over-year to $36 million, demonstrating strong operating leverage.
- North American monthly active users (MAUs) grew by 34% year-over-year, with significant growth in the online casino markets.
- The company achieved a record number of first-time depositors, surpassing previous records by more than 10% at attractive customer acquisition rates.
- RSI's proprietary technology platform continues to drive unique gaming experiences, enhancing customer acquisition and retention efficiently.
- Revenue in Latin America fell by 11%, impacted by elevated bonusing in Colombia due to the temporary VAT tax.
- Online sports betting revenue contracted by 16% during the quarter, partly due to player-friendly sports outcomes.
- Gross margin was affected by player-friendly sports outcomes and increased New Jersey gaming taxes.
- The potential increase in gaming tax rates in Mexico from 30% to 50% poses a future challenge.
- The ongoing VAT tax in Colombia continues to impact net revenue, with a 27% decline during the quarter.
Good day ladies and gentlemen. Thank you for standing by. Welcome to the Rush Street Interactive Third quarter 2025 earnings conference call. (Operator Instructions)
I will now turn the call over to Kyle Sauers, President and Chief Financial Officer. Please go ahead.
Thank you, operator, and good afternoon. By now, everyone should have access to our third quarter 2025 earnings release. It can be found under the heading Financials quarterly results in the investors section of the RSI website at RushstreetInteractive.com.
Some of our comments will be forward-looking statements within the meaning of the federal securities laws. Forward-looking statements are not statements of historical fact and are usually identified by the use of words such as will, expect, should, or other similar phrases and are subject to numerous risks and uncertainties that could cause actual results to differ materially from what we expect.
We assume no responsibility for updating any
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