Rush Street Interactive (RSI) reported strong third-quarter results for 2024, showing impressive year-over-year growth across key metrics. The company’s revenue rose 37% from Q3 2023, reaching $232.1 million. Net income also made a solid comeback, hitting $3.2 million, a notable shift from the $13.4 million net loss recorded in the same period last year.
CEO Richard Schwartz highlighted RSI’s strategic approach in driving these gains, saying, “We are excited to report that we have achieved another quarter of exceptional performance, setting new quarterly records in both revenue and adjusted EBITDA.” He pointed to RSI’s focus on innovation and its efforts to attract high-value players as key growth factors.
RSI’s adjusted EBITDA skyrocketed, increasing 470.7% year-over-year to reach $23.4 million. The company’s user base expanded as well, with monthly active users in the U.S. and Canada up by 28% to 168,000. In Latin America, RSI saw even greater growth, with users rising 122% to a total of 329,000.
Marketing efforts also saw an uptick, with RSI increasing its advertising and promotional spend by 13% to $38.6 million, a move aimed at sustaining its rapid growth. Looking ahead, RSI expects full-year revenue for 2024 to land between $900 million and $920 million, representing a 32% growth at the midpoint compared to 2023’s year-end revenue. The company raised the midpoint of its guidance by $30 million, indicating confidence in its ongoing momentum.
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