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Jun 30, 2024
Rush Street Q2 2024 Earnings Report
Announced second quarter 2024 results and raised full year guidance.
Key Takeaways
Rush Street Interactive reported a revenue of $220.4 million for the second quarter of 2024, a 34% increase compared to the same period in 2023. The company's net loss was $0.3 million, significantly improved from a $16.7 million loss in the previous year. Adjusted EBITDA exceeded $21 million, and the full year Adjusted EBITDA guidance was raised by 24% at the midpoint.
Revenue increased by 34% year-over-year, reaching $220.4 million.
Net loss significantly improved to $0.3 million from $16.7 million year-over-year.
Adjusted EBITDA exceeded $21 million, showcasing operating momentum.
Full year 2024 Adjusted EBITDA guidance raised by 24% at the midpoint, with a revised range of $64 to $72 million.
Rush Street
Rush Street
Forward Guidance
RSI expects revenue for the full year ending December 31, 2024, to be between $860 and $900 million, representing a 27% year-over-year growth at the midpoint. Adjusted EBITDA is expected to be between $64 and $72 million for the same period.
Positive Outlook
- Revenue expected to be between $860 and $900 million.
- Midpoint revenue of $880 million represents 27% year-over-year growth.
- Adjusted EBITDA expected to be between $64 and $72 million.
- Midpoint Adjusted EBITDA of $68 million compares to $8.2 million in 2023.
- Guidance based on operations in live jurisdictions and continued operation in current markets.
Challenges Ahead
- Guidance excludes operations in jurisdictions not live as of the report date.
- Assumes continued operation in current markets.
- Future results may differ due to changes in laws and regulations.
- Growth management and sustainability are critical.
- Potential adverse effects of economic conditions, inflation, and interest rates.