Rush Street Interactive reports Q1 adjusted EPS 3c, consensus (2c)

Reports Q1 revenue $217.4M, consensus $196.88M. Monthly active users in the United States and Canada were approximately 176,000, up 20% year-over-year. Average revenue per monthly active user in the United States and Canada was $355 during the first quarter of 2024, up 9% year-over-year. The company said, “We are extremely pleased with our record first quarter results achieving company quarterly record Revenues and Adjusted EBITDA of $217 million and $17 million, respectively. This was accomplished by growing both our iCasino and Online Sports businesses by over 35% year-over-year, in large part by acquiring new players more efficiently while simultaneously increasing the number and value of our users. Our team is proud to have achieved these results, which stemmed from our long-standing, unwavering commitment to prioritize the quality of our product and customer experience. We are very excited about the opportunity to continue to scale the business and drive growth on the back of our current momentum, which includes increasing our Adjusted EBITDA guidance by 38% at the midpoint. With this growth and scale comes improving earnings and free cash flow. Looking forward, we remain energized in our view that the team is primed to continue executing on our strategy and delivering value to shareholders.”