Rush Street Interactive Inc Financials

RSI

Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE December

Financial Health Signals

Financial Profile 39/100

Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

Rush Street Interactive Inc has an operating margin of 2.6%, meaning the company retains $3 of operating profit per $100 of revenue. This below-average margin results in a low score of 13/100, suggesting thin profitability after operating expenses. This is up from -7.5% the prior year.

Growth

100

Rush Street Interactive Inc's revenue surged 33.7% year-over-year to $924.1M, reflecting rapid business expansion. This strong growth earns a score of 100/100.

Leverage

Rush Street Interactive Inc has elevated debt relative to equity (D/E of 3.82), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 0/100, reflecting increased financial risk.

Liquidity

Rush Street Interactive Inc's current ratio of 1.75 indicates adequate short-term liquidity, earning a score of 50/100. The company can meet its near-term obligations, though with limited headroom.

Cash Flow

Rush Street Interactive Inc has a free cash flow margin of 11.4%, earning a moderate score of 57/100. The company generates positive cash flow after capital investments, but with room for improvement.

Returns

Rush Street Interactive Inc generates a 3.0% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 12/100.

Altman Z-Score Safe

5.66

Rush Street Interactive Inc scores 5.66, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($1.6B) relative to total liabilities ($300.8M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.

Piotroski F-Score Strong

7/9

Rush Street Interactive Inc passes 7 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 2 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Cash-Backed

44.58x

For every $1 of reported earnings, Rush Street Interactive Inc generates $44.58 in operating cash flow ($106.4M OCF vs $2.4M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

This page shows Rush Street Interactive Inc (RSI) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 6 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

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Key Financial Metrics

Revenue

$924.1M

YoY+33.7%

5Y CAGR+70.7%

Rush Street Interactive Inc generated $924.1M in revenue in fiscal year 2024. This represents an increase of 33.7% from the prior year.

EBITDA

$56.5M

YoY+358.6%

Rush Street Interactive Inc's EBITDA was $56.5M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 358.6% from the prior year.

Free Cash Flow

$105.5M

YoY+1560.9%

Rush Street Interactive Inc generated $105.5M in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 1560.9% from the prior year.

Net Income

$2.4M

YoY+113.0%

Rush Street Interactive Inc reported $2.4M in net income in fiscal year 2024. This represents an increase of 113.0% from the prior year.

EPS (Diluted)

$0.03

YoY+111.1%

Rush Street Interactive Inc earned $0.03 per diluted share (EPS) in fiscal year 2024. This represents an increase of 111.1% from the prior year.

Cash & Debt

$229.2M

YoY+36.1%

5Y CAGR+101.5%

Rush Street Interactive Inc held $229.2M in cash against $0 in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

N/A

Gross Margin

34.8%

YoY+2.1pp

Rush Street Interactive Inc's gross margin was 34.8% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is up 2.1 percentage points from the prior year.

Operating Margin

2.6%

YoY+10.1pp

5Y CAGR+37.7pp

Rush Street Interactive Inc's operating margin was 2.6% in fiscal year 2024, reflecting core business profitability. This is up 10.1 percentage points from the prior year.

Net Margin

0.3%

YoY+2.9pp

5Y CAGR+35.5pp

Rush Street Interactive Inc's net profit margin was 0.3% in fiscal year 2024, showing the share of revenue converted to profit. This is up 2.9 percentage points from the prior year.

Return on Equity

3.0%

Rush Street Interactive Inc's ROE was 3.0% in fiscal year 2024, measuring profit generated per dollar of shareholder equity.

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

$925K

YoY-28.4%

5Y CAGR+16.6%

Rush Street Interactive Inc invested $925K in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 28.4% from the prior year.

RSI Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	$924.1M+33.7%	$691.2M+16.7%	$592.2M+21.3%	$488.1M+75.3%	$278.5M+337.4%	$63.7M
Cost of Revenue	$602.0M+29.5%	$465.0M+12.1%	$414.7M+24.8%	$332.1M+74.0%	$190.9M	N/A
Gross Profit	$322.0M+42.4%	$226.1M+27.4%	$177.5M+13.8%	$156.0M+78.0%	$87.6M	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$106.9M+22.4%	$87.3M+29.3%	$67.6M+21.7%	$55.5M-65.8%	$162.4M+586.9%	$23.6M
Operating Income	$24.3M+147.1%	-$51.6M+58.6%	-$124.8M-32.4%	-$94.3M+29.3%	-$133.4M-497.6%	-$22.3M
Interest Expense	N/A	$2.8M+382.5%	$573K+206.4%	$187K+38.5%	$135K+9.8%	$123K
Income Tax	$24.6M+119.2%	$11.2M+25.1%	$9.0M+91.1%	$4.7M+60.6%	$2.9M	$0
Net Income	$2.4M+113.0%	-$18.3M+52.6%	-$38.6M-98.2%	-$19.5M-1902.9%	$1.1M+104.8%	-$22.4M
EPS (Diluted)	$0.03+111.1%	$-0.27+55.7%	$-0.61-19.6%	$-0.51-5000.0%	$-0.01	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Revenue	$277.9M+3.2%	$269.2M+2.6%	$262.4M+3.2%	$254.2M+15.3%	$220.4M+1.4%	$217.4M+12.2%	$193.9M+14.1%	$169.9M
Cost of Revenue	$183.5M+5.4%	$174.1M+1.9%	$170.9M+5.7%	$161.6M+11.9%	$144.5M0.0%	$144.5M+9.6%	$131.8M+13.5%	$116.2M
Gross Profit	$94.4M-0.7%	$95.1M+3.9%	$91.5M-1.1%	$92.5M+21.9%	$75.9M+4.1%	$72.9M+17.6%	$62.0M+15.4%	$53.7M
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$25.7M+8.2%	$23.8M-6.0%	$25.3M-7.5%	$27.4M+0.6%	$27.2M+5.2%	$25.9M+13.5%	$22.8M+1.7%	$22.4M
Operating Income	$19.5M-20.0%	$24.3M+66.9%	$14.6M+20.3%	$12.1M+188.7%	$4.2M+174.0%	$1.5M+143.4%	-$3.5M+69.9%	-$11.7M
Interest Expense	N/A	N/A	N/A	N/A	$1.9M+23.0%	$1.6M+16.8%	$1.3M+75.2%	$762K
Income Tax	$7.2M+106.2%	-$115.0M-2370.8%	$5.1M-33.3%	$7.6M+18.8%	$6.4M+20.7%	$5.3M+62.4%	$3.3M+34.5%	$2.4M
Net Income	$6.1M-63.7%	$16.7M+213.7%	$5.3M+162.7%	$2.0M+2125.0%	-$100K+86.2%	-$727K+57.9%	-$1.7M+58.7%	-$4.2M
EPS (Diluted)	$0.06-50.0%	$0.12+140.0%	$0.05+66.7%	$0.03	$0.00+100.0%	$-0.01+50.0%	$-0.02+66.7%	$-0.06

RSI Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$379.5M+19.1%	$318.6M-9.1%	$350.3M-14.3%	$408.7M+32.5%	$308.6M+1110.4%	$25.5M
Current Assets	$285.0M+24.7%	$228.6M-13.6%	$264.5M-22.6%	$341.8M+16.1%	$294.5M+1611.9%	$17.2M
Cash & Equivalents	$229.2M+36.1%	$168.3M-6.3%	$179.7M-36.0%	$281.0M+9.9%	$255.6M+3602.0%	$6.9M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$14.9M+41.8%	$10.5M-5.9%	$11.2M+91.7%	$5.8M+648.3%	$779K-57.9%	$1.9M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$300.8M+13.6%	$264.8M-10.0%	$294.3M-9.0%	$323.3M-12.7%	$370.3M+1183.2%	$28.9M
Current Liabilities	$163.1M+18.5%	$137.7M-4.3%	$143.9M+71.5%	$83.9M-79.1%	$401.0M+1437.4%	$26.1M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$78.7M+46.3%	$53.8M-4.1%	$56.0M-34.4%	$85.4M+238.3%	-$61.8M	$0
Retained Earnings	-$135.9M+1.7%	-$138.3M-15.3%	-$120.0M-47.5%	-$81.4M-31.5%	-$61.9M	$0

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Total Assets	$593.2M+9.2%	$543.0M+40.3%	$387.0M+2.0%	$379.5M+11.4%	$340.7M-0.2%	$341.4M+7.2%	$318.6M+1.2%	$314.8M
Current Assets	$344.2M+14.3%	$301.1M+4.7%	$287.6M+0.9%	$285.0M+16.7%	$244.2M-1.1%	$246.8M+8.0%	$228.6M+2.3%	$223.4M
Cash & Equivalents	$273.5M+13.7%	$240.6M+5.4%	$228.2M-0.4%	$229.2M+18.2%	$193.8M+1.4%	$191.2M+13.6%	$168.3M-1.7%	$171.2M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$21.9M+5.3%	$20.8M+26.3%	$16.5M+10.4%	$14.9M+47.8%	$10.1M-25.2%	$13.5M+28.3%	$10.5M-29.9%	$15.0M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$460.1M+9.5%	$420.1M+37.4%	$305.7M+1.6%	$300.8M+8.5%	$277.3M-1.2%	$280.6M+6.0%	$264.8M+0.6%	$263.3M
Current Liabilities	$179.9M+11.6%	$161.2M-6.9%	$173.1M+6.1%	$163.1M+10.7%	$147.3M-4.5%	$154.3M+12.0%	$137.7M-0.1%	$137.8M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$133.1M+8.3%	$122.9M+51.2%	$81.3M+3.3%	$78.7M+24.0%	$63.4M+4.3%	$60.8M+13.1%	$53.8M+4.4%	$51.5M
Retained Earnings	-$107.9M+5.3%	-$113.9M+12.8%	-$130.6M+3.9%	-$135.9M+2.3%	-$139.1M-0.1%	-$139.0M-0.5%	-$138.3M-1.3%	-$136.6M

RSI Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	$106.4M+1894.5%	-$5.9M+90.2%	-$60.3M-25.2%	-$48.2M-397.8%	$16.2M+758.0%	-$2.5M
Capital Expenditures	$925K-28.4%	$1.3M-68.9%	$4.2M+8.1%	$3.8M+105.5%	$1.9M+335.3%	$430K
Free Cash Flow	$105.5M+1560.9%	-$7.2M+88.8%	-$64.5M-23.9%	-$52.0M-463.7%	$14.3M+595.2%	-$2.9M
Investing Cash Flow	-$33.4M+1.2%	-$33.8M-16.5%	-$29.0M+21.7%	-$37.0M-492.7%	-$6.2M-8.2%	-$5.8M
Financing Cash Flow	-$2.7M-412.0%	-$518K+57.4%	-$1.2M-101.0%	$125.6M-47.9%	$241.1M+1450.8%	$15.5M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	$0	$0-100.0%	$3.5M	$0	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Operating Cash Flow	$41.4M+60.6%	$25.8M-10.2%	$28.7M+10.9%	$25.9M+28.1%	$20.2M-34.6%	$30.9M+3637.4%	$827K-97.3%	$30.4M
Capital Expenditures	$227K+12.4%	$202K+25.5%	$161K-5.8%	$171K-51.4%	$352K+26.6%	$278K-1.1%	$281K+8.9%	$258K
Free Cash Flow	$41.2M+61.0%	$25.6M-10.4%	$28.6M+11.0%	$25.7M+29.5%	$19.9M-35.2%	$30.6M+5509.9%	$546K-98.2%	$30.1M
Investing Cash Flow	-$9.8M+15.6%	-$11.6M-53.0%	-$7.6M-5.7%	-$7.1M+37.9%	-$11.5M-55.2%	-$7.4M+4.1%	-$7.7M-11.3%	-$6.9M
Financing Cash Flow	-$552K+91.7%	-$6.7M+75.4%	-$27.2M-1279.6%	-$2.0M-621.6%	-$273K-50.0%	-$182K-27.3%	-$143K-11.7%	-$128K
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	$0-100.0%	$2.5M-52.1%	$5.2M	$0	$0	$0	N/A	N/A

RSI Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	34.8%+2.1pp	32.7%+2.7pp	30.0%-2.0pp	31.9%+0.5pp	31.5%	N/A
Operating Margin	2.6%+10.1pp	-7.5%+13.6pp	-21.1%-1.7pp	-19.3%+28.6pp	-47.9%-12.8pp	-35.1%
Net Margin	0.3%+2.9pp	-2.6%+3.9pp	-6.5%-2.5pp	-4.0%-4.4pp	0.4%+35.7pp	-35.3%
Return on Equity	3.0%	N/A	N/A	N/A	N/A	N/A
Return on Assets	0.6%+6.4pp	-5.8%+5.3pp	-11.0%-6.3pp	-4.8%-5.1pp	0.4%+88.4pp	-88.1%
Current Ratio	1.75+0.1	1.66-0.2	1.84-2.2	4.07+3.3	0.73+0.1	0.66
Debt-to-Equity	3.82-1.1	4.93-0.3	5.25+1.5	3.78+9.8	-5.99	N/A
FCF Margin	11.4%+12.5pp	-1.1%+9.8pp	-10.9%-0.2pp	-10.7%-15.8pp	5.1%+9.7pp	-4.5%

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Gross Margin	34.0%-1.3pp	35.3%+0.4pp	34.9%-1.5pp	36.4%+2.0pp	34.4%+0.9pp	33.5%+1.6pp	32.0%+0.3pp	31.6%
Operating Margin	7.0%-2.0pp	9.0%+3.5pp	5.6%+0.8pp	4.8%+2.9pp	1.9%+1.2pp	0.7%+2.5pp	-1.8%+5.1pp	-6.9%
Net Margin	2.2%-4.0pp	6.2%+4.2pp	2.0%+1.2pp	0.8%+0.9pp	-0.1%+0.3pp	-0.3%+0.6pp	-0.9%+1.6pp	-2.5%
Return on Equity	4.5%-9.0pp	13.6%+7.0pp	6.5%+4.0pp	2.6%	N/A	N/A	N/A	N/A
Return on Assets	1.0%-2.1pp	3.1%+1.7pp	1.4%+0.8pp	0.5%+0.6pp	-0.0%+0.2pp	-0.2%+0.3pp	-0.5%+0.8pp	-1.3%
Current Ratio	1.91+0.0	1.87+0.2	1.66-0.1	1.75+0.1	1.66+0.1	1.60-0.1	1.66+0.0	1.62
Debt-to-Equity	3.46+0.0	3.42-0.3	3.76-0.1	3.82-0.5	4.37-0.2	4.61-0.3	4.93-0.2	5.11
FCF Margin	14.8%+5.3pp	9.5%-1.4pp	10.9%+0.8pp	10.1%+1.1pp	9.0%-5.1pp	14.1%+13.8pp	0.3%-17.5pp	17.7%

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Frequently Asked Questions

What is Rush Street Interactive Inc's annual revenue?

Rush Street Interactive Inc (RSI) reported $924.1M in total revenue for fiscal year 2024. This represents a 33.7% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Rush Street Interactive Inc's revenue growing?

Rush Street Interactive Inc (RSI) revenue grew by 33.7% year-over-year, from $691.2M to $924.1M in fiscal year 2024.

Is Rush Street Interactive Inc profitable?

Yes, Rush Street Interactive Inc (RSI) reported a net income of $2.4M in fiscal year 2024, with a net profit margin of 0.3%.

What is Rush Street Interactive Inc's earnings per share (EPS)?

Rush Street Interactive Inc (RSI) reported diluted earnings per share of $0.03 for fiscal year 2024. This represents a 111.1% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

What is Rush Street Interactive Inc's EBITDA?

Rush Street Interactive Inc (RSI) had EBITDA of $56.5M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.

What is Rush Street Interactive Inc's gross margin?

Rush Street Interactive Inc (RSI) had a gross margin of 34.8% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.

What is Rush Street Interactive Inc's operating margin?

Rush Street Interactive Inc (RSI) had an operating margin of 2.6% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.

What is Rush Street Interactive Inc's net profit margin?

Rush Street Interactive Inc (RSI) had a net profit margin of 0.3% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

What is Rush Street Interactive Inc's return on equity (ROE)?

Rush Street Interactive Inc (RSI) has a return on equity of 3.0% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.

What is Rush Street Interactive Inc's free cash flow?

Rush Street Interactive Inc (RSI) generated $105.5M in free cash flow during fiscal year 2024. This represents a 1560.9% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Rush Street Interactive Inc's operating cash flow?

Rush Street Interactive Inc (RSI) generated $106.4M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Rush Street Interactive Inc's total assets?

Rush Street Interactive Inc (RSI) had $379.5M in total assets as of fiscal year 2024, including both current and long-term assets.

What are Rush Street Interactive Inc's capital expenditures?

Rush Street Interactive Inc (RSI) invested $925K in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

What is Rush Street Interactive Inc's current ratio?

Rush Street Interactive Inc (RSI) had a current ratio of 1.75 as of fiscal year 2024, which is generally considered healthy.

What is Rush Street Interactive Inc's debt-to-equity ratio?

Rush Street Interactive Inc (RSI) had a debt-to-equity ratio of 3.82 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Rush Street Interactive Inc's return on assets (ROA)?

Rush Street Interactive Inc (RSI) had a return on assets of 0.6% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Rush Street Interactive Inc's Altman Z-Score?

Rush Street Interactive Inc (RSI) has an Altman Z-Score of 5.66, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is Rush Street Interactive Inc's Piotroski F-Score?

Rush Street Interactive Inc (RSI) has a Piotroski F-Score of 7 out of 9, indicating strong financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Rush Street Interactive Inc's earnings high quality?

Rush Street Interactive Inc (RSI) has an earnings quality ratio of 44.58x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Rush Street Interactive Inc?

Rush Street Interactive Inc (RSI) scores 39 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.