Rush Street Interactive Inc (RSI) Q1 2025 Earnity call Highlights: Strong sales growth …

Appearance date: April 30, 2025

You can find the complete copy of the earnings call in the complete earnings call.

• Rush Street Interactive Inc (NYSE: RSI) recorded a sales increase of 21% compared to the previous year for the first quarter of 2025 of $ 262 million.

• Adjusted EBITDA has almost doubled compared to the same period of the previous year and achieved 33 million US dollars.

• The company recorded strong growth both in the online casino (25% growth) and in the growth of sports (11% growth).

• RSIS North American monthly users (Mausly Active Users) grew by 17% compared to the previous year, with Latin America mouse rose by 61%.

• The company had a strong cash position with 228 million US dollars of unrestricted cash and without debt.

• The newly raised 19% of VAT in Colombia in Colombia influenced net sales growth despite the strong performance of the gross games (GGR).

• RSI's net turnover in Colombia in April in April in the year last year, although the GGR was increased by 55%.

• The company expects to confront tougher comparisons over the course of the year, especially in markets such as Delaware.

• Marketing editions rose by 3%compared to the previous year, although it was used to reach Record -bitda.

• VAT in Colombia is expected to remain a headwind all year round, which affects net sales and profitability.

Q: Can you more details about the competitive landscape in Colombia and how VAT affects your market share? A: We are at higher interest rates on the lead to compensate for the VAT tax, similar to other providers on the market. This strategy has made it possible for us to maintain our market share or potentially to expand, although precise market share data is not announced. We focus on the execution and management of the business in this challenging time. – Richard Schwartz, CEO

Q: How should investors think for 2025 and beyond the growth of Delaware? A: Delaware was a significant success for us and we expect further growth. While the growth rate can be slowed down at the start period, the market can reach a GGR of 300 million US dollars in a few years, which indicates considerable spreads. – Kyle Sowers, CFO

Q: How does this affect your poker segment when Pennsylvania connects the Multi-State-internet gaming contract? A: We look forward to Pennsylvania, who follows the agreement, which will improve the liquidity on our platform. Our poker strategy is more of an attachment and aims to sell casino and sports betting. We plan to expand into more states and use the skills of our platform. – Richard Schwartz, CEO