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Dec 31, 2023
Rush Street Q4 2023 Earnings Report
Rush Street reported Q4 2023 earnings with revenue up 17% year-over-year and a net loss of $5.5 million.
Key Takeaways
Rush Street Interactive announced strong fourth-quarter results with a 17% increase in revenue to $193.9 million and a significant improvement in adjusted EBITDA to $11.5 million, compared to a loss in the previous year. The company's full-year revenue also increased by 17% to $691.2 million. They provided FY2024 revenue guidance between $770 and $830 million and Adjusted EBITDA guidance between $35 and $45 million.
Revenue increased by 17% year-over-year to $193.9 million.
Net loss improved to $5.5 million, compared to a $31.1 million loss in the previous year.
Adjusted EBITDA was $11.5 million, a significant improvement from the previous year's loss of $17.3 million.
Adjusted advertising and promotions expense decreased by 45% to $34.6 million.
Revenue by Geographic Location
Forward Guidance
Rush Street Interactive anticipates revenue between $770 and $830 million and Adjusted EBITDA between $35 and $45 million for the full year 2024.
Positive Outlook
- Strong Q4 2023 performance.
- Continued momentum into the new year.
- Customer-centric principles.
- Obsession with developing innovative and differentiated user experiences.
- Substantial cash balance and no debt.
Challenges Ahead
- Guidance includes only operations in live jurisdictions as of today’s date.
- Guidance assumes RSI continues to operate in markets in which it is live today.
- Potential changes in applicable laws or regulations.
- RSI’s ability to manage and sustain growth.
- General economic and market conditions impacting the demand for RSI’s products and services.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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