Rush Street Interactive (RSI) AI Stock Analysis

• Market Cap: $4.43B
• Dividend Yield: N/A
• Average Volume (3M): 1.28M
• Price to Earnings (P/E): 77.0
• Beta (1Y): 0.99
• Revenue Growth: 23.15%
• EPS Growth: N/A
• Country: US
• Employees: 883
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Gambling, Resorts & Casinos
• EPS (TTM): 0.09
• Shares Outstanding: 97,911,940
• 10 Day Avg. Volume: 1,319,381
• 30 Day Avg. Volume: 1,284,262
• PEG Ratio: -4.24
• Price to Book (P/B): 14.26
• Price to Sales (P/S): 1.21
• P/FCF Ratio: 14.57
• Enterprise Value/Market Cap: 1.25
• Enterprise Value/Revenue: 5.22
• Enterprise Value/Gross Profit: 14.87
• Enterprise Value/Ebitda: 49.78
• 1Y Price Target: $22.57
• Price Target Upside: 16.94% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 8
• EPS Forecast (FY): 0.55
• Revenue Forecast (FY): $1.31B

• Rating: 72 Outperform
• Price Target: $21.00 ▲(8.81% Upside)

The score is primarily supported by strengthening financial performance (profitability inflection, strong cash generation, minimal leverage) and a positive earnings outlook with raised guidance and strong user growth. These are partially offset by an expensive valuation (high P/E, no dividend yield) and a mixed technical picture without clear momentum confirmation.

Positive Factors

Conservative Balance Sheet

Very low leverage and a strengthened equity base give RSI durable financial flexibility. This reduces refinancing risk, enables funding for market entry or M&A without heavy dilution, and allows the business to absorb regulatory or seasonal shocks while preserving investment capacity.

Strong Cash Generation

Sizable and positive free cash flow supports reinvestment in product, marketing, and regulated-market expansion without reliance on external funding. Over the medium term this underpins sustainable growth initiatives, funds margin-improving investments, and strengthens balance-sheet resilience.

Growing User Base and Market Expansion

Rapid MAU growth across North and Latin America indicates product-market fit in regulated markets and improves monetization potential. Expanding active users helps drive operating leverage, cross-sell between iGaming and sportsbook, and supports more efficient marketing spend over time.

Negative Factors

Regulatory/Tax Exposure (Colombia)

Significant sensitivity to tax and regulatory shifts in key jurisdictions can force elevated bonusing and compress hold, directly reducing revenue and margins. Persistent or recurring regulatory changes create earnings volatility and complicate planning for longer-term margin improvement.

Moderate Top-Line Growth

While profitability has improved, relatively modest TTM revenue growth means the business must sustain user acquisition and market expansion to keep margins progressing. Slower top-line trends could limit operating-leverage gains and require higher marketing intensity to drive durable scale.

Dependence on Market-Access Partnerships

Structural reliance on local partners and revenue-sharing agreements constrains net economics and slows market rollouts. Fixed fees and percentage shares reduce margin upside, increase counterparty dependency, and can limit control over customer experience and pricing over the medium term.

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 company offers full suite of games comprising of bricks-and-mortar casinos, table games, and slot machines. The company markets its online casino and sports betting under BetRivers.com, PlaySugarHouse.com, and RushBet.co brands. Rush Street Interactive, Inc. was founded in 2012 and is headquartered in Chicago, Illinois.

How the Company Makes Money

Rush Street Interactive generates revenue primarily through online sports betting and casino gaming. The company earns money by taking a percentage of wagers placed on its platforms, known as the 'hold' or 'vig,' which is the difference between the total amount wagered and the winnings paid out. Key revenue streams include sports betting, where customers place bets on various sporting events, and casino gaming, which encompasses a range of games such as slots, table games, and live dealer experiences. Additionally, RSI benefits from partnerships with various sports leagues and teams, as well as collaborations with third-party technology providers that enhance its offerings and expand its market reach. The company also focuses on customer acquisition through promotions and bonuses, driving user engagement and increasing its revenue potential.

Rush Street Interactive Financial Statement Overview

Summary

Strong fundamentals driven by improving profitability (positive EBIT/EBITDA margins), a very low-debt balance sheet, and solid free cash flow generation. Key risk is execution/consistency, given only moderate recent revenue growth and historically variable cash flows.

Income Statement

TTM (Trailing-Twelve-Months) results show a clear turn to sustainable profitability: revenue rose to ~$1.06B with solid gross margin (~35%) and improved operating leverage (EBIT margin ~6.9%; EBITDA margin ~10.5%). Net margin remains modest (~2.8%), but this is a major improvement from the losses in 2021–2023 and the near-breakeven year in 2024, indicating the model is scaling. The main watch-out is that recent revenue growth is moderate (TTM ~4.5%), so maintaining margin progress likely requires continued disciplined spend and steady top-line expansion.

Balance Sheet

The balance sheet is conservatively positioned with essentially no debt in TTM (Trailing-Twelve-Months) and very low leverage in prior years as well. Equity has strengthened meaningfully versus earlier periods, and profitability has lifted returns on shareholder capital (TTM return on equity is strong). Key risk to monitor is that the equity base is still relatively modest versus the asset base, so any profitability setback could swing returns quickly, but overall financial risk from leverage appears low.

Cash Flow

Cash generation is a highlight: TTM (Trailing-Twelve-Months) operating cash flow (~$122M) and free cash flow (~$100M) are firmly positive, with strong free cash flow growth versus the prior annual period. Free cash flow is also sizable relative to net income, suggesting earnings are supported by cash generation. The main weakness is some variability over the cycle (notably negative operating and free cash flow in 2021–2023), so consistency through different demand conditions remains a key proof point.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	1.06B	924.08M	691.16M	592.21M	488.11M	278.50M
Gross Profit	373.58M	322.05M	226.15M	177.55M	155.96M	87.63M
EBITDA	111.62M	56.51M	-21.85M	-110.47M	-90.03M	-126.51M
Net Income	30.09M	2.39M	-18.30M	-38.63M	-29.06M	1.08M
Balance Sheet
Total Assets	593.16M	379.47M	318.58M	350.35M	408.73M	308.56M
Cash, Cash Equivalents and Short-Term Investments	273.50M	229.17M	168.33M	206.08M	281.03M	255.62M
Total Debt	0.00	4.64M	4.13M	1.90M	1.66M	1.21M
Total Liabilities	318.80M	181.15M	152.45M	159.47M	101.03M	575.89M
Stockholders Equity	133.08M	78.68M	53.77M	56.05M	85.44M	-61.78M
Cash Flow
Free Cash Flow	99.84M	77.02M	-37.12M	-88.62M	-82.94M	9.94M
Operating Cash Flow	121.81M	106.45M	-5.93M	-60.32M	-48.19M	16.18M
Investing Cash Flow	-36.02M	-33.36M	-33.78M	-28.99M	-37.00M	-6.24M
Financing Cash Flow	-36.37M	-2.65M	-518.00K	-1.22M	125.58M	241.07M

Rush Street Interactive Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 19.30
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: 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 19.3 is below the 20-day moving average (MA) of 19.37, above the 50-day MA of 18.56, and above the 200-day MA of 16.80, indicating a neutral trend. The MACD of 0.09 indicates Positive momentum. The RSI at 51.78 is Neutral, neither overbought nor oversold. The STOCH value of 62.74 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for RSI.

Rush Street Interactive Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SGHC	73 Outperform	$4.98B	22.82	32.35%	1.34%	29.54%	4389.69%
RSI	72 Outperform	$4.43B	77.05	29.67%	―	23.15%	―
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
DKNG	59 Neutral	$29.06B	―	-29.59%	―	18.51%	37.25%
CDRO	56 Neutral	$352.60M	66.04	23.16%	―	1.79%	―
BALY	48 Neutral	$824.45M	-2.12	-114.88%	―	0.36%	47.55%

Rush Street Interactive Corporate Events

Rush Street Interactive Promotes Kyle Sauers to President

On October 15, 2025, Rush Street Interactive announced the promotion of Kyle Sauers to President, in addition to his role as Chief Financial Officer. This strategic move reflects RSI’s growth and aims to leverage Sauers’ leadership to enhance operational alignment and market performance. Sauers, who joined RSI in 2020, has been instrumental in shaping the company’s financial strategy and will now take on broader responsibilities to drive sustainable growth and innovation.

The most recent analyst rating on (RSI) stock is a Buy with a $26.00 price target. To see the full list of analyst forecasts on Rush Street Interactive stock, see the RSI Stock Forecast page.