Filing Flows › Rush Street Interactive (RSI) › Q4 2025
Rush Street Interactive (RSI) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 18, 2026
Rush Street Interactive (RSI) reported revenue of $325M for the fourth quarter 2025 (Q4 2025), +28% from a year earlier and +17% from the quarter before. Operating margin was 8.8%, net earnings $5.2M (1.6% of revenue).
Rush Street Interactive, Q4 2025: revenue $325M (+28% year over year), operating margin 8.8%, net earnings $5.2M, operating cash flow $69.1M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $325M | +17% | +28% |
| Operating profit | $28.7M | +47% | +123% |
| Net earnings | $5.2M | -13% | +159% |
| Operating cash flow | $69.1M | +67% | +167% |
| Free cash flow | $68.9M | +67% | +168% |
What changed
Revenue was $324.9M in Q4 2025, up 28% year over year and up 17% from the previous quarter. Online casino and online sports betting was the largest line at 99% of revenue.
Operating profit was $28.7M, a 8.8% margin (up 3.8 points year over year). Of the extra revenue versus a year earlier, 22% reached operating profit, above the 5% margin then. Total costs grew 23% against revenue growth of 28%. The fastest-growing cost line was Cost of revenue (+32%). Net earnings were $5.2M, up 159% year over year. The effective tax rate was 48.0%. Non-operating items added $8.1M, 22% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $69.1M (up 167% year over year), 361% of net income including minority interests. Non-cash charges added back $10.5M of depreciation and amortization and $5.0M of share-based compensation. Working capital and other items added $34.5M. Capital expenditures of $177K left free cash flow of $68.9M.
Questions
What was Rush Street Interactive's revenue in the fourth quarter 2025?
Rush Street Interactive (RSI) reported revenue of $325M for the fourth quarter 2025 (Q4 2025), +28% from a year earlier and +17% from the quarter before.
Was Rush Street Interactive profitable in the fourth quarter 2025?
Operating profit was $28.7M (8.8% of revenue) and net earnings $5.2M.