Rush Street Interactive, Inc. reported significant financial growth in its latest quarterly filing, with revenues reaching $262.4 million for the three months ended March 31, 2025, a 21% increase from $217.4 million in the same period last year. The company attributed this growth primarily to its expansion in existing markets and entry into new markets, including Peru. The increase in revenue was driven by higher online casino and sports betting revenues, which rose by $45.3 million, while retail sports betting revenue saw a slight decline of $0.4 million.
The company's operating costs also increased, rising 18% to $170.9 million, largely due to market access costs, gaming taxes, and payment processing fees associated with its growth. Despite the rise in costs, Rush Street Interactive reported a substantial increase in income from operations, which surged to $14.6 million compared to $1.5 million in the prior year. The net income for the quarter was $11.2 million, a significant turnaround from a net loss of $2.2 million in the same quarter of 2024. This resulted in earnings per share of $0.06, compared to a loss of $0.01 per share in the previous year.
In terms of operational metrics, the company reported an increase in monthly active users (MAUs), reflecting strong customer retention and engagement strategies. The average revenue per monthly active user (ARPMAU) in the U.S. and Canada also improved, indicating effective monetization of its offerings. However, ARPMAU in Latin America decreased due to increased player bonuses and unfavorable foreign exchange rates. The company continues to expand its geographic footprint, now offering services in 16 U.S. states and several international markets, including Canada and Latin America.
Strategically, Rush Street Interactive has been active in its stock repurchase program, having repurchased 498,622 shares of Class A Common Stock for approximately $5.2 million during the quarter. The company maintains a strong cash position, with $228.2 million in cash and cash equivalents as of March 31, 2025, which it plans to use to fund ongoing operations and potential expansions without relying on third-party debt. Looking ahead, the company expects to continue its growth trajectory, although it acknowledges potential challenges from regulatory changes and competitive pressures in the online gaming industry.
About Rush Street Interactive, Inc.
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