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Rush Street Interactive
(NYSE:RSI)
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Rating:68Neutral
Price Target:
$36.00
▲(57.27% Upside)
Action:Downgraded
Date:06/04/26
The score is driven primarily by improved financial performance (profitability and positive free cash flow with low leverage) and a notably strong earnings update with raised 2026 guidance. Offsetting these are a demanding valuation (high P/E with no dividend yield provided) and mixed near-term technical signals, with the stock below its 20-day average despite being above longer-term averages.
Positive Factors
Revenue growth & margin expansion
Sustained double-digit top-line growth with outsized EBITDA gains indicates the model is scaling: rising iCasino and sportsbook volumes plus improving gross margin produce operating leverage. This durability supports reinvestment, guidance raises, and a structurally stronger profit base over months.
Negative Factors
Colombia tax and regulatory uncertainty
Ongoing legal/tax uncertainty in Colombia creates durable margin volatility and potential retroactive liabilities or refunds. Given Latin America is a fast‑growing revenue source, adverse outcomes or changing tax treatment could materially alter forward profitability and planning across multiple quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue growth & margin expansion
Sustained double-digit top-line growth with outsized EBITDA gains indicates the model is scaling: rising iCasino and sportsbook volumes plus improving gross margin produce operating leverage. This durability supports reinvestment, guidance raises, and a structurally stronger profit base over months.
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
$7.60B
Dividend YieldN/A
Average Volume (3M)2.91M
Price to Earnings (P/E)86.7
Beta (1Y)0.77
Revenue Growth28.20%
EPS Growth310.24%
CountryUS
Employees883
SectorConsumer Cyclical
Sector Strength84
IndustryGambling, Resorts & Casinos
Share Statistics
EPS (TTM)0.38
Shares Outstanding104,107,420
10 Day Avg. Volume2,407,363
30 Day Avg. Volume2,905,570
Financial Highlights & Ratios
PEG Ratio0.05
Price to Book (P/B)12.65
Price to Sales (P/S)1.64
P/FCF Ratio14.14
Enterprise Value/Market Cap0.84
Enterprise Value/Revenue5.15
Enterprise Value/Gross Profit14.77
Enterprise Value/Ebitda107.35
Forecast
1Y Price Target
$30.10Price Target Upside31.50% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering10
EPS Forecast (FY)0.6
Revenue Forecast (FY)$1.52B
Rush Street Interactive Business Overview & Revenue Model
Company Description
Rush Street Interactive, Inc. (RSI) functions as a prominent online casino and sports betting enterprise, catering to markets in both the United States and Latin America. The company's diverse service portfolio includes real-money online casino ga...
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:Jul 29, 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 | 59.63M | 28.89M | 64.96M | -19.09M | -110.47M | -61.97M |
| 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 | 5.55M | 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 | 135.69M | 131.64M | 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
28.60
Positive
24.88
Positive
21.70
Positive
Market Momentum
1.43
Negative
69.30
Neutral
91.56
Negative
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 30.73, below the 50-day MA of 28.60, and above the 200-day MA of 21.70, indicating a bullish trend. The MACD of 1.43 indicates Negative momentum. The RSI at 69.30 is Neutral, neither overbought nor oversold. The STOCH value of 91.56 is Negative, 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 | $7.51B | 30.93 | 31.93% | 1.34% | 19.93% | 79.81% | |
70 Outperform | $430.15M | 84.79 | 8.62% | ― | 6.33% | -150.96% | |
68 Neutral | $7.60B | 86.70 | 26.36% | ― | 28.20% | 310.24% | |
65 Neutral | $23.38B | 213.94 | 7.88% | ― | 25.80% | ― | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
47 Neutral | $602.07M | -0.99 | -115.26% | ― | 16.60% | -75.69% |
* Consumer Cyclical Sector Average
RSI
Rush Street Interactive
33.40
18.49
124.01%
DKNG
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26.48
-17.31
-39.54%
SGHC
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14.89
3.71
33.14%
CDRO
Codere Online
9.47
1.08
12.87%
BALY
Bally's Corporation
12.89
2.60
25.27%
Rush Street Interactive Corporate Events
Executive/Board ChangesRegulatory Filings and ComplianceShareholder Meetings
Rush Street Investors Back Governance Changes and Board Slate
Positive
Jun 3, 2026
On June 3, 2026, Rush Street Interactive, Inc. held its 2026 annual meeting of stockholders, where shareholders elected four Class III directors, including Neil Bluhm, Jack Markell, Niccolo de Masi and Thomas Winter, to serve three-year terms endi...
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.