02.11.2022 - Rush Street Interactive, Inc. (NYSE: RSI) (“RSI”), a leading online casino and sports betting company in the United States and the rest of the Americas, today announced financial results for the third quarter ended September 30, 2022. Third Quarter .
Shares of online gaming concern Rush Street Interactive, Inc. are down 70% from their first public trade as unsustainable irrational valuations in a callow, commoditized industry reset.
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Rush Street Interactive CEO Greg Carlin in an interview with CNBC. The company again raised 2021 revenue guidance. (Image:
CNBC)
That’s the second time this year the newly public iGaming operator lifted its 2021 sales outlook. In March, the Illinois-based company issued 2021 revenue guidance of $420 million to $460 million, up from a prior estimate of $320 million.
At the midpoint of the range, revenue of $460 million represents 65% year-over-year growth when compared to $278.5 million of revenues for 2020,” according to a statement.
Today’s announcement arrived in conjunction with the company’s first-quarter earnings report. On the basis of generally accepted accounting principles (GAAP), Rush Street lost 18 cents a share on revenue of $111.82 million. Analysts expected a loss of seven cents on sales of $96.29 million.
- Full Year 2020 Revenue of $278.5 Million, up 337% Year-over-Year -
- Full Year 2021 Revenue Guidance Raised 37% to between $420 and $460 Million -
Rush Street Interactive, Inc. (NYSE: RSI) (“RSI”), a leading online casino and sports betting company in the United States, today announced financial results for the fourth quarter and full year ended December 31, 2020.
Fourth Quarter 2020 Financial Highlights
Revenue was $100.0 million during the fourth quarter of 2020, an increase of 260%, compared to $27.8 million during the fourth quarter of 2019.
Net loss was $48.8 million during the fourth quarter of 2020, compared to a net loss of $15.1 million during the fourth quarter of 2019.
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Advertising and promotions expense was $23.1 million, or 23% of revenue, during the fourth quarter of 2020, compared to $8.7 million during the fourth quarter of 2019.