Filing Flows › Rush Street Interactive (RSI) › Q3 2025
Rush Street Interactive (RSI) Q3 2025 earnings results (third quarter 2025)
10-Q filed Oct 30, 2025
Rush Street Interactive (RSI) reported revenue of $278M for the third quarter 2025 (Q3 2025), +20% from a year earlier and +3% from the quarter before. Operating margin was 7.0%, net earnings $6.1M (2.2% of revenue).
Rush Street Interactive, Q3 2025: revenue $278M (+20% year over year), operating margin 7.0%, net earnings $6.1M, operating cash flow $41.4M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $278M | +3% | +20% |
| Operating profit | $19.5M | -20% | +201% |
| Net earnings | $6.1M | -64% | +409% |
| Operating cash flow | $41.4M | +61% | +41% |
| Free cash flow | $41.2M | +61% | +41% |
What changed
Revenue was $277.9M in Q3 2025, up 20% 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 $45.9M year over year (up 20%), 100% of the total change. Retail sports betting declined 35%.
Operating profit was $19.5M, a 7.0% margin (up 4.2 points year over year). Of the extra revenue versus a year earlier, 28% reached operating profit, above the 3% margin then. Total costs grew 15% against revenue growth of 20%. The fastest-growing cost line was Cost of revenue (+21%). Net earnings were $6.1M, up 409% year over year. The effective tax rate was 32.6%.
Operating cash flow was $41.4M (up 41% year over year), 279% of net income including minority interests. Non-cash charges added back $10.2M of depreciation and amortization and $6.4M of share-based compensation. Working capital and other items added $10.0M. Capital expenditures of $227K left free cash flow of $41.2M.
Questions
What was Rush Street Interactive's revenue in the third quarter 2025?
Rush Street Interactive (RSI) reported revenue of $278M for the third quarter 2025 (Q3 2025), +20% from a year earlier and +3% from the quarter before.
Was Rush Street Interactive profitable in the third quarter 2025?
Operating profit was $19.5M (7.0% of revenue) and net earnings $6.1M.