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Rush Street (RSI) Q4 2025 Earnings Transcript [Globe and Mail, The (Toronto, Canada)]

Rush Street Interactive, Inc. Class A (RSI) 
Chief Financial Officer — Kyle Sauers TAKEAWAYS Total Revenue -- $1.13 billion for the year, representing 23% growth, outpacing management's raised guidance. Fourth Quarter Revenue -- $324.9 million, up 28%, marking an eleventh consecutive quarter of sequential revenue growth. Adjusted EBITDA -- $153.7 million for the year, up 66%, surpassing raised internal targets, with Q4 adjusted EBITDA hitting $44.1 million, up 44%. Net Income -- $74 million, compared to $7.2 million, demonstrating significant bottom-line expansion. Cash Generation -- $142 million in cash produced during the year, with $336 million in cash on hand despite no share repurchases in Q4 under the $50 million repurchase program ($42 million remaining authorization). Marketing Expense -- $158.4 million for the year (2% increase), totaling 14% of revenue and reflecting a 290 basis-point reduction versus prior year's ratio. General & Administrative Expense -- $81 million for the year (7.1% of revenue), de Show less Read more
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