RSI reports 17% Q4 revenue growth and Full Year 2023 financial results

Rush Street Interactive (RSI) has disclosed its financial results for the fourth quarter and full year ending 31 December 2023. 

For Q4 2023, RSI reported revenue of $193.9m, showing a 17% increase compared to the same period in 2022. The company experienced a net loss of $5.5m in Q4 2023, a significant year-on-year improvement from the net loss of $31.1m.

Adjusted EBITDA for the quarter reached $11.5m, improved from the adjusted EBITDA loss of $17.3m in Q4 2022.

Advertising and promotions expenses decreased by 45% in the fourth quarter of 2023, amounting to $34.6m.

Monthly Active Users (MAU) in the US, Canada and Latin America witnessed year-over-year growth, with Latin America particularly showing an increase of 33%.

For the full year 2023, RSI reported revenue of $691.2m, marking a 17% increase from 2022. The net loss for the full year was $60.1m, an improvement compared to the net loss of $134.3m in 2022.

Adjusted EBITDA for the full year 2023 was $8.2m,melhores cassinos an improvement from the adjusted EBITDA loss of $91.8m in 2022.

Looking forward, RSI has provided revenue guidance for the full year ending 31 December 2024, projecting revenues between $770m and $830m. Additionally, the company has introduced adjusted EBITDA guidance for 2024, expecting it to be between $35m and $45m. 

Richard Schwartz, RSI CEO, said: “We concluded 2023 with a fourth quarter that produced records in both revenues and adjusted EBITDA. For the year, we grew revenue to $691m on strong customer engagement and retention. At the same time, we improved our adjusted EBITDA by $100m compared to the prior year.” 

RSI also achieved positive performance in the third quarter of 2023, where revenue increased by 15% compared to Q3 2022.

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