NYSE$RSI

Rush Street Interactive Inc · Q4 2020 earnings

Q4 2020 earnings · · Investor relations

Briefing

Reported first financial results as a public company with revenue growth achieved through rapid expansion in new and existing markets.

Rush Street Interactive reported a strong Q4 2020, with revenue reaching $100.0 million, a 260% increase year-over-year. The company was the second largest online casino operator in the US for the quarter and full year. Increased 2021 revenue guidance, reflecting strong Q4 results and anticipated growth from increased marketing spend.

  • Fourth quarter revenue increased by 260% year-over-year, reaching $100.0 million.
  • Full year 2020 revenue increased by 337% year-over-year, totaling $278.5 million.
  • The company was the second largest online casino operator in the US for the fourth quarter and full year 2020.
  • Full year 2021 revenue guidance raised 37% to between $420 and $460 million.

Headline financials

Total Revenue

$100M

No prior period
EPS (adj)

-$0.01

No prior period
Capital Expenditures

$963K

No prior period
Free Cash Flow

$16.2M

No prior period
Net Income

$1.86M

No prior period
Operating Income

-$130M

No prior period
Gross Profit

$27.9M

No prior period
Cash & Equivalents

$256M

No prior period
Total Assets

$309M

No prior period
Stock-Based Comp

$41.5M

No prior period

Revenue & EPS history

Rush Street · Revenue · Quarterly

$100M

Q4 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 $420 and $460 million.

Tailwinds

  • All professional and college sports calendars that have been announced come to fruition, including the commencement of their 2020 to 2021 seasons
  • Continue to operate in states in which we are live today.
  • Increased marketing spend funded with cash on hand

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 Q4 2020

Historical avgQ4 2020

+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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