Rush Street Interactive (NYSE:RSI) Issues Earnings Results

Key Points

• Record Q1 results and raised guidance — RSI beat expectations with $0.14 EPS and $370.4M revenue (up 41% YoY), reported adjusted EBITDA of $60.2M (+81% YoY) and raised full‑year guidance to $1.49B–$1.54B revenue and $230M–$250M adjusted EBITDA.
• Strong user growth and improved marketing efficiency — North America MAUs rose 46% to 296k and LATAM MAUs rose 54% to 543k, with marketing spend down to 12.5% of revenue and an estimated ~90 bps sequential iCasino market‑share gain in North America.
• Healthy balance sheet but notable insider selling — the company ended the quarter with $331M cash and zero debt to fund expansion, while insiders sold roughly 1.24M shares (~$24M) last quarter despite insiders owning 56.89% of shares.

Rush Street Interactive (NYSE:RSI - Get Free Report) released its quarterly earnings results on Tuesday. The company reported $0.14 EPS for the quarter, beating analysts' consensus estimates of $0.12 by $0.02, FiscalAI reports. The company had revenue of $370.36 million during the quarter, compared to analysts' expectations of $327.76 million. Rush Street Interactive had a return on equity of 17.95% and a net margin of 2.94%.The firm's revenue was up 41.1% compared to the same quarter last year. During the same period last year, the business posted $0.09 earnings per share.

Here are the key takeaways from Rush Street Interactive's conference call:

• Record Q1 results — revenue of $370.4 million (+41% YoY) and adjusted EBITDA of $60.2 million (+81% YoY), with raised full‑year guidance to $1.49B–$1.54B revenue and $230M–$250M adjusted EBITDA.
• Rapid user growth and improved marketing efficiency — North America MAUs 296k (+46%) and LATAM MAUs 543k (+54%), record first‑time depositors, marketing spend down to 12.5% of revenue and estimated ~90 bps sequential iCasino market‑share gain in North America.
• Alberta launch planned for July 13 — expected to add modest back‑half revenue but requires pre‑launch marketing and launch costs (company noted these reduce near‑term EBITDA upside included in the raised guidance).
• LATAM regulatory/tax developments — Colombia’s prior 19% VAT was ruled unconstitutional (company had no 19% payments applied), a temporary 16% GGR tax is now in place pending further review, and removal of 2025 bonusing has helped LATAM ARPMAU.
• Healthy balance sheet — $331 million cash and zero debt at quarter end, giving flexibility to fund geographic expansion and product investments (no Q1 buybacks under the $50M program).

Rush Street Interactive Stock Down 0.9%

RSI opened at $24.05 on Wednesday. The company has a market cap of $5.59 billion, a PE ratio of 85.89 and a beta of 1.45. The company has a 50-day moving average price of $21.28 and a 200 day moving average price of $19.33. Rush Street Interactive has a twelve month low of $11.12 and a twelve month high of $24.67.

Analysts Set New Price Targets

A number of research analysts recently issued reports on RSI shares. Wells Fargo & Company began coverage on shares of Rush Street Interactive in a research report on Thursday, March 26th. They set an "overweight" rating and a $26.00 target price for the company. Benchmark reissued a "buy" rating on shares of Rush Street Interactive in a report on Wednesday, February 18th. Wall Street Zen cut Rush Street Interactive from a "strong-buy" rating to a "buy" rating in a research report on Saturday, February 21st. Susquehanna set a $22.00 target price on Rush Street Interactive in a research note on Wednesday, January 21st. Finally, Jefferies Financial Group reiterated a "buy" rating and set a $29.00 target price on shares of Rush Street Interactive in a research report on Sunday, January 25th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Rush Street Interactive currently has an average rating of "Moderate Buy" and a consensus price target of $23.67.

Insider Transactions at Rush Street Interactive

In other Rush Street Interactive news, COO Mattias Stetz sold 29,725 shares of Rush Street Interactive stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $20.07, for a total transaction of $596,580.75. Following the sale, the chief operating officer owned 8,495 shares of the company's stock, valued at $170,494.65. The trade was a 77.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Judith Gold sold 48,286 shares of the business's stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $23.07, for a total transaction of $1,113,958.02. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 1,239,588 shares of company stock worth $24,025,669. Company insiders own 56.89% of the company's stock.

Institutional Trading of Rush Street Interactive

Several large investors have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Rush Street Interactive by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 45,163 shares of the company's stock worth $484,000 after acquiring an additional 1,893 shares during the period. Goldman Sachs Group Inc. increased its position in Rush Street Interactive by 18.8% during the first quarter. Goldman Sachs Group Inc. now owns 689,701 shares of the company's stock worth $7,394,000 after purchasing an additional 109,366 shares during the last quarter. Prudential Financial Inc. purchased a new position in Rush Street Interactive during the second quarter worth about $166,000. Invesco Ltd. raised its stake in Rush Street Interactive by 377.1% during the second quarter. Invesco Ltd. now owns 272,693 shares of the company's stock worth $4,063,000 after purchasing an additional 215,538 shares during the period. Finally, First Trust Advisors LP acquired a new position in Rush Street Interactive in the 2nd quarter valued at about $3,766,000. 24.78% of the stock is currently owned by hedge funds and other institutional investors.

About Rush Street Interactive

Rush Street Interactive NYSE: RSI is a digital gaming and sports betting company that develops and operates online wagering platforms in regulated markets. As a subsidiary of Rush Street Gaming, the company specializes in delivering interactive casino games, live dealer experiences, and sports betting services through desktop and mobile applications. Its technology infrastructure is designed to support real-time wagering, secure transactions, and responsible gaming tools across multiple jurisdictions.

The company’s flagship brand, BetRivers, offers a range of casino titles—including slots, table games, and virtual sports—alongside a comprehensive sportsbook featuring pre-game and in-play betting markets.