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Sep 30
Rush Street Q3 2025 Earnings Report
Rush Street Interactive reported record quarterly revenue, significant growth in net income and adjusted EBITDA, and strong user acquisition in North American online casino markets for Q3 2025.
Key Takeaways
Rush Street Interactive delivered a strong third quarter in 2025, achieving record quarterly revenue of $277.9 million, a 20% increase year-over-year. The company also reported a substantial increase in net income to $14.8 million and a 54% rise in Adjusted EBITDA to $36.0 million. This growth was primarily driven by strong player acquisition and engagement, particularly in the North American online casino markets, where Monthly Active Users grew by 46%.
Record quarterly revenue reached $277.9 million, marking a 20% increase year-over-year and the tenth consecutive quarter of sequential revenue growth.
Net income significantly improved to $14.8 million in Q3 2025, compared to $3.2 million in the same period last year.
Adjusted EBITDA surged by 54% year-over-year to $36.0 million, demonstrating enhanced operational efficiency.
Monthly Active Users (MAU) in the United States and Canada online casino markets grew by an impressive 46% year-over-year, indicating strong market penetration and player engagement.
Rush Street
Rush Street
Rush Street Revenue by Geographic Location
Revenue by Geographic Location
North America Revenue
CapyFin.com Forward Guidance
Rush Street Interactive is raising its full-year 2025 guidance for both revenue and Adjusted EBITDA, reflecting strong anticipated growth.
Positive Outlook
- Full-year 2025 revenue guidance raised to between $1,100 million and $1,120 million.
- Midpoint of revenue guidance ($1,110 million) represents 20% year-over-year growth compared to 2024.
- Full-year 2025 Adjusted EBITDA guidance raised to between $147 million and $153 million.
- Midpoint of Adjusted EBITDA guidance ($150 million) represents 62% year-over-year growth compared to 2024.
- Guidance assumes continued operations in current live jurisdictions under similar tax structures.
Challenges Ahead
- Guidance is based on certain assumptions and actual results may differ.
- Excludes potential operations in new jurisdictions not live as of the report date.
- Forecasting and quantifying comparable GAAP measures for Adjusted EBITDA guidance is difficult without unreasonable effort.
- Certain components of the Adjusted EBITDA calculation are outside of RSI’s control and may be highly variable.
- Preparation of forward-looking GAAP financial statements for reconciliation is unavailable without unreasonable effort.