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Mar 31, 2025
Rush Street Q1 2025 Earnings Report
Reported strong revenue growth and record Adjusted EBITDA in the first quarter of 2025.
Key Takeaways
Rush Street Interactive announced robust results for the first quarter of 2025, with revenue increasing 21% year-over-year to $262.4 million and Adjusted EBITDA nearly doubling to a record $33.2 million. The company also reported positive net income of $11.2 million, a significant improvement from a net loss in the prior year period. These results were driven by strong performance in both the United States/Canada and Latin American markets.
First quarter 2025 revenue increased 21% year-over-year to $262.4 million.
Net income for Q1 2025 was $11.2 million, compared to a net loss of $2.2 million in Q1 2024.
Adjusted EBITDA reached a record $33.2 million in Q1 2025, up 95% year-over-year.
The company reiterated its full year 2025 Adjusted EBITDA guidance range of $115 million to $135 million.
Forward Guidance
RSI reiterated its full year 2025 revenue and Adjusted EBITDA guidance, anticipating continued growth.
Positive Outlook
- Full year 2025 revenue expected between $1,010 million and $1,080 million.
- Midpoint of full year 2025 revenue guidance ($1,045 million) represents 13% year-over-year growth.
- Full year 2025 Adjusted EBITDA expected between $115 million and $135 million.
- Midpoint of full year 2025 Adjusted EBITDA guidance ($125 million) represents 35% growth over 2024.
- Guidance is based on operations in current live jurisdictions and similar tax structures.
Challenges Ahead
- Guidance is based on assumptions that may not hold true.
- Excludes potential impacts from future market launches or withdrawals.
- Excludes potential impacts from changes in tax structures.
- Forward-looking statements involve risks and uncertainties that could cause actual results to differ.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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