NYSE$RSI

Rush Street Interactive Inc · Q3 2021 earnings

Q3 2021 earnings · · Investor relations

Briefing

Announced third quarter 2021 results and raised full year 2021 guidance.

Rush Street Interactive reported a revenue of $122.9 million for the third quarter of 2021, representing a 57% increase compared to the third quarter of 2020. The company raised its full year 2021 revenue guidance to between $480 and $500 million.

  • Revenue was $122.9 million, up 57% year-over-year.
  • Net loss was $18.9 million, compared to a net loss of $26.5 million in the third quarter of 2020.
  • Real-Money Monthly Active Users (MAUs) in the United States were up 26% year-over-year with average revenue per MAU (ARPMAU) of $380.
  • Full Year 2021 Revenue Guidance Raised to between $480 and $500 Million.

Headline financials

Total Revenue

$123M

Previous: $759K+16095.0%
EPS (adj)

-$0.07

No prior period
Capital Expenditures

-$1.99M

No prior period
Free Cash Flow

-$7.29M

Previous: -$2.3M-217.2%
Net Income

-$5.3M

Previous: -$2.3M-130.7%
Operating Income

-$17.7M

Previous: -$2.4M-637.4%
Gross Profit

$41.7M

Previous: $759K+5393.9%
Cash & Equivalents

$347M

No prior period
Total Assets

$421M

No prior period
Stock-Based Comp

$4.47M

No prior period

Revenue & EPS history

Rush Street · Revenue · Quarterly

$123M

Q3 2021+16,095%vs Q3 2020
Beat estimate in 9 of 13 quarters(69%)
ActualEstimate

Forward guidance

RSI expects revenues for the full year ending December 31, 2021 to be between $480 and $500 million, up from its previous guidance of between $465 and $495 million.

Tailwinds

  • Operations only in live jurisdictions as of today’s date are included
  • All professional and college sports calendars that have been announced come to fruition, including the completion of their 2021 seasons
  • RSI continues to operate in markets in which it is live today
  • New market access and launches have continued to be a significant driver of overall success
  • Launched PlaySugarHouse online sportsbook in Connecticut

Headwinds

  • Changes in applicable laws or regulations
  • RSI’s ability to manage growth
  • RSI’s ability to execute our business plan and meet its projections
  • Unanticipated product or service delays
  • General economic and market conditions impacting the demand for RSI’s products and services

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q3 2021

Historical avgQ3 2021

+1.2%

Avg return

Earnings day

+1.3%

Avg return

5 days after

+7.0%

Avg return

30 days after

50%

12 / 24 earnings

Positive

+18.6%

Q4 2023

Best reaction

-19.3%

Q4 2021

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-1.1%+4.3%-9.5%
Q4 2025+7.7%+8.3%+22.2%
Q3 2025-6.7%-7.6%+1.5%
Q1 2025-5.6%-5.2%+4.6%
Q4 2024-15.3%-15.1%-18.6%
Q3 2024+2.0%+2.4%+35.9%
Q2 2024+7.9%-5.0%-6.1%
Q1 2024+18.2%+30.2%+40.1%
Q4 2023+18.6%+9.7%+33.1%
Q3 2023+5.3%+12.0%+23.5%
Q2 2023+15.6%+9.6%+19.7%
Q1 2023-0.3%+2.5%+1.9%
Q4 2022-8.4%-8.8%-25.8%
Q3 2022-7.6%-6.7%-15.4%
Q2 2022-3.9%-10.0%-19.6%
Q1 2022-1.3%-19.6%-15.4%
Q4 2021-19.3%-22.7%-27.8%
Q3 2021+1.5%+3.1%-14.7%
Q2 2021+3.8%-5.0%+20.6%
Q1 2021-1.6%+3.4%+12.9%
Q4 2020+18.0%+26.9%-2.9%
Q3 2020+2.3%+25.7%+80.7%
Q2 2020+0.9%+0.7%+26.9%
Q1 2020-1.9%-1.9%-0.1%

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