Rush Street Interactive (RSI) has released its complete financial results for the first quarter of this year, showing a 21% year-over-year revenue increase to $262.4 million.
In fact, the agency also highlighted that the net income for the first quarter of 2025 was AUD 11.2 million, a significant improvement over the AUD 2.2 million loss reported in the same period last year. Meanwhile, adjusted EBITDA grew 95% year-over-year to AUD 33.2 million.
Financial Performance for Q1 2025
The growth in revenue, profit, and EBITDA has given RSI a strong start. However, the company's adjusted sales and marketing expenses also slightly increased by 3%, totaling $38.8 million for the first quarter. Additionally, the monthly active users in North America and Latin America grew by 17% and 61%, respectively.
Based on these latest financial statistics, the operator has reiterated its full-year financial guidance, emphasizing expected revenues between $1.01 billion and $1.08 billion, and expected EBITDA between $115 million and $135 million.
Highlights of Q1 2025
Prior to this, RSI announced record-breaking performance for the fourth quarter. RSI's financial report for the fiscal year 2024 showed that its revenue reached $924 million. In the first quarter of this year, RSI repurchased $5.2 million worth of common stock through its $50 million buyback program.
Furthermore, the company reached several new partnership agreements at the beginning of this year, including a new deal to help EveryMatrix launch in the West Virginia market in January, and a collaboration with RubyPlay to help the provider enter the US market.
Comments from the CEO
RSI CEO Richard Schwartz commented on the latest report, saying: "Building on the success of recent years, we have started 2025 with strong momentum. In the first quarter, our revenue grew 21% year-over-year to $262 million, and adjusted EBITDA reached a record $33 million, almost double that of Q1 2024."
These strong performances stem from our commitment to innovation and enhancing player experience, as well as efficiently attracting and retaining high-value players. The consistency and durability of our business, especially in the online casino sector, are reflected in our execution and performance, and they also form a positive basis for our future momentum.
