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Mar 31, 2023
Rush Street Q1 2023 Earnings Report
Announced first quarter results with revenue up 20% year-over-year.
Key Takeaways
Rush Street Interactive reported a 20% increase in revenue to $162.4 million for the first quarter of 2023, driven by growth in Latin America and new North American markets. The company is on track to achieve profitability in the second half of the year, with improved Adjusted EBITDA performance.
Revenue was $162.4 million, up 20% year-over-year.
Net loss was $24.5 million, improved from a net loss of $52.3 million in the prior year.
Adjusted EBITDA loss was $8.7 million, compared to a loss of $43.4 million in the first quarter of 2022.
Average revenue per Monthly Active User (ARPMAU) in the United States and Canada was $325, up 23% year-over-year.
Forward Guidance
RSI expects revenue for the full year ending December 31, 2023 to be between $630 and $700 million. At the midpoint of the range, revenue of $665 million represents 12% year-over-year growth when compared to $592 million of revenues for 2022.
Positive Outlook
- Only operations in live jurisdictions as of today’s date are included.
- All professional and college sports calendars that have been announced come to fruition, including the completion of their 2023 seasons.
- RSI continues to operate in markets in which it is live today, except for Connecticut.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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