Q2 Earnings Update: RSI Enhances Full-Year Forecast Following Exceptional Q2 Profits
Rush Street Interactive Delivers Strong Q2 Performance, Boosting Revenue and EBITDA
Rush Street Interactive (RSI) has reported a stellar Q2 2025, with significant growth across its online casino operations. The Chicago-based company's strategic focus on North American markets, coupled with its expansion into Latin America, has led to impressive results.
The company's online casino revenue soared by 25%, reaching $269.2 million, marking a 22% year-over-year increase. This robust growth boosted overall profitability and contributed to an 88% increase in adjusted EBITDA, which surged to $40.2 million in Q2 2025, from $21.4 million in the same period last year.
The growth was driven by strong revenue growth, operational efficiency, and stable marketing expenses. The number of monthly active users (MAUs) increased substantially, with a 21% rise in the U.S. and Canada (to 197,000) and a 42% increase in Latin America (to around 403,000). RSI also achieved a record quarterly average revenue per user (ARPU) of $391 in the U.S., helping drive higher revenue per customer.
Adjusted sales and marketing expenses remained flat at $36.2 million, indicating that RSI managed to grow without proportional increases in acquisition costs. These factors, along with the expansion of the user base, contributed to the substantial increase in adjusted EBITDA.
RSI's confident outlook is reflected in its revised full-year revenue and adjusted EBITDA forecasts. The company now expects full-year revenue to reach between $1.05 billion and $1.1 billion, representing 16% year-on-year growth. The adjusted EBITDA guidance is between $133 million and $147 million, marking a 51% increase compared to last year.
The strong performance is not limited to Q2. RSI posted net income of $28.8 million in Q2 2025, compared to a net loss of $300,000 in the same period last year. The company also repurchased $2.5 million of Class A common stock during the quarter, reflecting its confidence in its financial results.
Analysts have taken notice of RSI's impressive performance, with revenue estimates for 2026E increased due to higher growth expected from Peru, Mexico, and Colombia. The tax rolloff starting in 2026 is expected to benefit Colombia. Moreover, the analysts' statement highlights the efficiencies across the business in the second half of 2025 for its iGaming-focused operations.
RSI's CEO, Richard Schwartz, reported exceptional Q2 performance with records across the board. The revenue beat is seen as reflecting well on the business's efficiencies. The analysts' statement indicates that the company has proven it can grow through the RushBet brand in Peru and Mexico. Approximately $42 million is still available under RSI's $50 million authorised buyback programme.
In conclusion, Rush Street Interactive's Q2 2025 performance underscores its ability to deliver strong results, driven by operational efficiency, user base expansion, and stable customer acquisition costs. The company's focus on North American markets, along with its expansion into Latin America, positions it well for continued growth in the future.
[1] Rush Street Interactive Q2 2025 Earnings Release [2] Rush Street Interactive Q2 2025 Earnings Call Transcript
- Rush Street Interactive's growth in the online casino sector has extended to betting as well, with their strategic expansion leading to a robust increase in revenue and adjusted EBITDA.
- The iGaming industry's financial analysts have commended Rush Street Interactive's business strategies, raising their revenue estimates for 2026E due to anticipated growth in countries like Peru, Mexico, and Colombia.
- To further demonstrate their confidence in the company's prospects, Rush Street Interactive repurchased $2.5 million of Class A common stock during Q2 2025.
- As Rush Street Interactive continues to navigate the gaming and casino regulatory landscape, their focus on operational efficiency, user base expansion, and investment in the RushBet brand in countries like Peru and Mexico positions the company for continued success in the world of iGaming finance and investing.
