Filing Flows › Rush Street Interactive (RSI) › Q1 2025
Rush Street Interactive (RSI) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 1, 2025
Rush Street Interactive (RSI) reported revenue of $262M for the first quarter 2025 (Q1 2025), +21% from a year earlier and +3% from the quarter before. Operating margin was 5.7%, net earnings $5.3M (2.0% of revenue).
Rush Street Interactive, Q1 2025: revenue $262M (+21% year over year), operating margin 5.7%, net earnings $5.3M, operating cash flow $28.7M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $262M | +3% | +21% |
| Operating profit | $14.9M | +16% | +874% |
| Net earnings | $5.3M | +163% | — |
| Operating cash flow | $28.7M | +11% | -7% |
| Free cash flow | $28.6M | +11% | -7% |
What changed
Revenue was $262.4M in Q1 2025, up 21% year over year and up 3% from the previous quarter. Online casino and online sports betting was the largest line at 99% of revenue. Online casino and online sports betting added $45.3M year over year (up 21%), 101% of the total change. Retail sports betting declined 54%.
Operating profit was $14.9M, a 5.7% margin (up 5.0 points year over year). Of the extra revenue versus a year earlier, 30% reached operating profit, above the 1% margin then. Total costs grew 15% against revenue growth of 21%. The fastest-growing cost line was Other operating costs (+34%). Net earnings were $5.3M. The effective tax rate was 31.1%.
Operating cash flow was $28.7M (down 7% year over year), 256% of net income including minority interests. Non-cash charges added back $9.5M of depreciation and amortization and $8.8M of share-based compensation. Capital expenditures of $161K left free cash flow of $28.6M.
Questions
What was Rush Street Interactive's revenue in the first quarter 2025?
Rush Street Interactive (RSI) reported revenue of $262M for the first quarter 2025 (Q1 2025), +21% from a year earlier and +3% from the quarter before.
Was Rush Street Interactive profitable in the first quarter 2025?
Operating profit was $14.9M (5.7% of revenue) and net earnings $5.3M.