Rush Street Interactive, Inc. (RSI)
NYSE:RSI
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Rush Street Interactive
(NYSE:RSI)
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Rating:73Outperform
Price Target:
$31.00
▲(35.43% Upside)
Action:Reiterated
Date:05/08/26
The score is driven primarily by improved financial performance (profitability and positive free cash flow with very low leverage) and strong bullish technicals. A material guidance raise and strong earnings-call sentiment further support the outlook, while the high P/E and thin net margins keep the overall score from being higher.
Positive Factors
Revenue & Profit Turnaround
RSI has moved from multi-year losses into sustained profitable growth, with revenue rising consistently through 2025 and TTM and operating profit and net income now positive. That structural recovery supports reinvestment, scale benefits, and a more durable ability to absorb shocks versus prior loss periods.
Negative Factors
Thin Net Margins
Net margins remain thin for the industry, leaving earnings sensitive to changes in promotion intensity, taxes, or payment costs. Even with operating leverage, modest net profitability reduces buffer for adverse outcomes and increases the chance that small cost or revenue shocks materially compress net income.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue & Profit Turnaround
RSI has moved from multi-year losses into sustained profitable growth, with revenue rising consistently through 2025 and TTM and operating profit and net income now positive. That structural recovery supports reinvestment, scale benefits, and a more durable ability to absorb shocks versus prior loss periods.
Read all positive factors
Rush Street Interactive Key Performance Indicators (KPIs)
Any
Revenue by Geography
Breaks down revenue across different regions, revealing where the company is strongest and where it may face risk or growth potential due to local economic conditions or market share shifts.
Breaks down revenue across different regions, revealing where the company is strongest and where it may face risk or growth potential due to local economic conditions or market share shifts.
Data provided by:
The Fly
The FlyRush Street Interactive (RSI) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$6.43B
Dividend YieldN/A
Average Volume (3M)2.00M
Price to Earnings (P/E)61.3
Beta (1Y)0.81
Revenue Growth28.20%
EPS Growth310.24%
CountryUS
Employees883
SectorConsumer Cyclical
Sector Strength84
IndustryGambling, Resorts & Casinos
Share Statistics
EPS (TTM)0.38
Shares Outstanding103,800,110
10 Day Avg. Volume2,649,655
30 Day Avg. Volume2,000,184
Financial Highlights & Ratios
PEG Ratio0.05
Price to Book (P/B)12.65
Price to Sales (P/S)1.64
P/FCF Ratio11.34
Enterprise Value/Market Cap0.97
Enterprise Value/Revenue5.03
Enterprise Value/Gross Profit14.41
Enterprise Value/Ebitda39.27
Forecast
1Y Price Target
$29.27Price Target Upside27.88% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering11
EPS Forecast (FY)0.6
Revenue Forecast (FY)$1.52B
Rush Street Interactive Business Overview & Revenue Model
Company Description
Rush Street Interactive, Inc. operates as an online casino and sports betting company in the United States and Latin America. It provides real-money online casino, online and retail sports betting, and social gaming services. In addition, the comp...
How the Company Makes Money
RSI primarily makes money by operating online gambling platforms and retaining a portion of customer wagering after paying out winnings. Key revenue streams include: (1) iCasino revenue: Customers wager on digital casino games (e.g., slots and tab...
Rush Street Interactive Earnings Call Summary
Earnings Call Date:Apr 28, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 05, 2026
Earnings Call Sentiment Positive
The call communicated strong operational momentum and financial outperformance: record revenue and adjusted EBITDA, accelerating user growth, improved gross margins, and an upgraded full-year outlook. Management acknowledged near-term headwinds — chiefly regulatory uncertainty in Colombia, dilution-driven ARPMAU decline as a function of rapid new-player additions, and launch/investment costs for Alberta — but characterized these as anticipated or manageable trade-offs for long-term growth. On balance, the positive operating and financial developments materially outweigh the highlighted challenges.Positive Updates
Record Revenue Growth
First quarter revenue of $370.4 million, up 41% year-over-year — the fastest growth rate in over four years and a record for the company.
Negative Updates
Decline in North America ARPMAU
North America ARPMAU was $317 in Q1, down 14% year-over-year. Management attributes the decline primarily to a large influx of new players (dilution effect) and initial bonusing, which depress short-term per-user revenue.
Read all updates
Q1-2026 Updates
Positive
Negative
Record Revenue Growth
First quarter revenue of $370.4 million, up 41% year-over-year — the fastest growth rate in over four years and a record for the company.
Read all positive updates
Company Guidance
Management raised full‑year 2026 guidance to revenue of $1.49–$1.54 billion (up 31%–36% YoY; midpoint $1.515B, a $115M increase and ~34% YoY) and adjusted EBITDA of $230–$250 million (up 50%–63% YoY; midpoint $240M, a $20M increase and ~56% YoY); the raise reflects strong Q1 results (Q1 revenue $370.4M, +41% YoY; Q1 adjusted EBITDA $60.2M, +81% YoY), outsized North American iCasino share gains and Latin America outperformance, better sports outcomes, and inclusion of an Alberta launch (regulator set July 13) that will add modest back‑half revenue but requires upfront marketing/launch investments (management said the EBITDA raise would have been ~ $30M higher without Alberta). The company finished Q1 with $331M cash and zero debt, expects meaningful leverage over marketing and modest G&A leverage at the midpoint (mid‑20% flow‑through at the midpoint), and reiterated a longer‑term target of low‑to‑mid‑20% adjusted EBITDA margins.Rush Street Interactive Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
78
Positive
Cash Flow
66
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.24B | 1.13B | 924.08M | 691.16M | 592.21M | 488.11M |
| Gross Profit | 433.40M | 392.76M | 322.05M | 226.15M | 177.55M | 155.96M |
| EBITDA | 159.04M | 127.39M | 56.51M | -21.85M | -110.47M | -90.03M |
| Net Income | 37.06M | 33.31M | 2.39M | -18.30M | -38.63M | -29.06M |
Balance Sheet | ||||||
| Total Assets | 677.28M | 658.51M | 379.47M | 318.58M | 350.35M | 408.73M |
| Cash, Cash Equivalents and Short-Term Investments | 330.56M | 340.50M | 229.17M | 168.33M | 206.08M | 281.03M |
| Total Debt | 0.00 | 18.46M | 4.64M | 4.13M | 1.90M | 1.66M |
| Total Liabilities | 358.73M | 355.02M | 181.15M | 152.45M | 159.47M | 101.03M |
| Stockholders Equity | 159.13M | 147.24M | 78.68M | 53.77M | 56.05M | 85.44M |
Cash Flow | ||||||
| Free Cash Flow | 146.63M | 164.24M | 77.02M | -37.12M | -88.62M | -82.94M |
| Operating Cash Flow | 156.41M | 165.00M | 106.45M | -5.93M | -60.32M | -48.19M |
| Investing Cash Flow | -38.67M | -37.02M | -33.36M | -33.78M | -28.99M | -37.00M |
| Financing Cash Flow | -32.88M | -37.36M | -2.65M | -518.00K | -1.22M | 125.58M |
Rush Street Interactive Technical Analysis
Positive
22.89
Price Trends
23.82
Positive
21.22
Positive
20.29
Positive
Market Momentum
1.17
Positive
61.44
Neutral
78.69
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For RSI, the sentiment is Positive. The current price of 22.89 is below the 20-day moving average (MA) of 27.00, below the 50-day MA of 23.82, and above the 200-day MA of 20.29, indicating a bullish trend. The MACD of 1.17 indicates Positive momentum. The RSI at 61.44 is Neutral, neither overbought nor oversold. The STOCH value of 78.69 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for RSI.
Rush Street Interactive Risk Analysis
Rush Street Interactive disclosed 62 risk factors in its most recent earnings report. Rush Street Interactive reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Rush Street Interactive Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | $6.98B | 15.71 | 28.52% | 1.34% | 19.93% | 79.81% | |
73 Outperform | $6.43B | 61.26 | 26.36% | ― | 28.20% | 310.24% | |
70 Outperform | $426.68M | ― | 7.85% | ― | 6.33% | -150.96% | |
68 Neutral | $22.24B | 124.99 | 7.88% | ― | 25.80% | ― | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
44 Neutral | $529.14M | -0.90 | -116.69% | ― | 16.60% | -75.69% |
* Consumer Cyclical Sector Average
RSI
Rush Street Interactive
27.65
16.04
138.16%
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Rush Street Interactive Corporate Events
Business Operations and StrategyStock BuybackPrivate Placements and Financing
Rush Street Interactive Completes Secondary Offering and Buyback
Positive
May 7, 2026
On May 5, 2026, Rush Street Interactive entered into an underwriting agreement under which selling shareholders agreed to sell 10,000,000 Class A common shares at $24.96 each, with underwriters granted a 30-day option to buy an additional 1,500,00...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.