Rush Street Interactive (RSI) has announced financial results for the first quarter ended March 31st, 2024 revealing that revenues increased by 34% year-on-year.
First Quarter 2024 Highlights
- Revenue – $217.4 million, up by 34% Rush Street Reports 34% Increase in Revenues for Q1 2024
- Adjusted EBITDA – $17.1 million, Q1 2023 Adjusted EBITDA loss of $8.7 million
- Adjusted advertising and promotions expense – $37.8 million, down by 23%
- Monthly Active Users (“MAU”) in the United States and Canada – 176,000, up by 20% year-on-year Rush Street Reports 34% Increase in Revenues for Q1 2024
- Average Revenue per Monthly Active User (“ARPMAU”) in the United States and Canada – $355, up by 9%
- ARPMAU in Latin America – $43, up by 4%
- Unrestricted cash and cash equivalents – $191 million.
Richard Schwartz, Chief Executive Officer of RSI, said:
Rush Street Reports 34% Increase in Revenues for Q1 2024We are very excited about the opportunity to continue to scale the business and drive growth on the back of our current momentum, which includes increasing our Adjusted EBITDA guidance by 38% at the midpoint. With this growth and scale comes improving earnings and free cash flow. Looking forward, we remain energized in our view that the team is primed to continue executing on our strategy and delivering value to shareholders.”
Rush Street Reports 34% Increase in Revenues for Q1 2024
Jenny Tang
Rush Street Reports 34% Increase in Revenues for Q1 2024