RSI revenue for Q3 2024 increases 37% year-over-year
The company also increased its monthly active users in the US and Canada by 28% from the prior year period during Q3 2024, while users in LatAm increased by 122% year-over-year.
Key Points
- RSI’s net income was reported to be $3.2m for Q3 2024 after reporting a net loss of $13.4m during the prior year period
- The company also increased its adjusted advertising and promotional expenses by 13% year-over-year for a total of $38.6m
Rush Street Interactive (RSI) has reported the company’s financial results for the third quarter of 2024, with revenue increasing by 37% year-over-year for a total of $232.1m. Net income also increased, having been reported to be $3.2m for Q3 2024 after RSI saw a net loss of $13.4m during the third quarter of 2023.
“We are excited to report that we have achieved another quarter of exceptional performance, setting new quarterly records in both revenue and adjusted EBITDA. Our third quarter revenue surged by 37% year-over-year, and our adjusted EBITDA increased more than fivefold from the same period last year,” RSI CEO Richard Schwartz said.
“These record results highlight the effectiveness of our strategic initiatives and ability to execute. Our focus on innovation to attract and retain high-value players continues to drive significant growth and profitability.”
RSI’s adjusted EBITDA was reported to be $23.4m, which is a significant 470.7% increase from the prior year period.
Good to know: Wazdan announced that it partnered with RSI to launch its games in the state of Pennsylvania on September 5
The company also grew its monthly active user count in the US, Canada and LatAm. In the US and Canada, user count increased by 28% year-over-year, currently standing at 168,000. For the LatAm region, the user count is currently 329,000, which is an increase of 122% from the prior year period.
RSI increased its adjusted advertising and promotional expenses by 13% year-over-year for a total of $38.6m.
RSI expects revenue for the full year ending December 31, 2024 to be between $900m and $920m, increasing the midpoint by $30m compared to the prior guidance. At the midpoint of the range, revenue of $910m represents 32% year-over-year growth when compared to the revenue reported at the end of 2023.
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