Rush Street Interactive, Inc. ( (RSI) ) has realeased its Q3 earnings. Here is a breakdown of the information Rush Street Interactive, Inc. presented to its investors.
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Rush Street Interactive, Inc. is a prominent online gaming and sports entertainment company operating in the United States, Canada, and Latin America, known for its brands like BetRivers and PlaySugarHouse, and its early entry into regulated markets.
Rush Street Interactive, Inc. (RSI) has reported strong financial results for the third quarter of 2024, with a noteworthy increase in revenue and profitability. The company announced a significant rise in its revenue and adjusted EBITDA, along with a positive net income compared to a loss in the previous year. RSI has also raised its full-year financial guidance, reflecting continued optimism about its growth trajectory.
In the third quarter of 2024, RSI recorded a 37% year-over-year increase in revenue, reaching $232 million. The company achieved a net income of $3.2 million, a substantial improvement from a net loss of $13.4 million in the same quarter last year. Adjusted EBITDA soared to $23 million, more than fivefold the previous year’s figure, demonstrating the company’s enhanced operational efficiency. RSI’s Monthly Active Users increased significantly, particularly in Latin America, indicating an expanding customer base. The company also authorized a $50 million share repurchase, highlighting its strong cash position and commitment to shareholder value.
RSI’s management has expressed confidence in future growth, raising its full-year 2024 revenue guidance to between $900 and $920 million and adjusted EBITDA guidance to between $82 and $86 million. The revised guidance suggests a 32% year-over-year revenue growth at the midpoint, showcasing the company’s strategic momentum.
Looking ahead, Rush Street Interactive appears well-positioned for continued growth in the online gaming sector across its operating regions. The company’s focus on innovation and market expansion underpins its strategy to maintain strong performance and enhance shareholder value.
