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Rush Street Interactive
(NYSE:RSI)
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Rating:67Neutral
Price Target:
$21.50
▼(-18.62% Downside)
Action:Reiterated
Date:09/19/26
RSI’s score is driven primarily by improving fundamentals—strong revenue growth, much better free cash flow, and a low-leverage/zero-debt balance sheet—reinforced by a guidance raise and buyback authorization from the latest earnings call. Offsetting these positives are weak technical momentum (trading below key moving averages with negative MACD) and a high P/E multiple, which together raise near-term downside risk if growth or margins wobble.
Positive Factors
Rapid revenue growth
Rapid revenue expansion demonstrates growing customer adoption and stronger market reach across RSI's regulated gaming operations. If sustained, this scale can support operating leverage, improve brand relevance, and provide a larger base for future cash generation over the next several quarters.
Negative Factors
Thin and recently recovered profitability
Despite substantial revenue and EBITDA growth, thin net margins leave RSI sensitive to marketing, tax, promotion, and operating-cost changes. The recent shift from losses to profits is encouraging but not yet a long-established track record, so sustaining earnings quality remains important.
Read all positive and negative factors
Positive Factors
Negative Factors
Rapid revenue growth
Rapid revenue expansion demonstrates growing customer adoption and stronger market reach across RSI's regulated gaming operations. If sustained, this scale can support operating leverage, improve brand relevance, and provide a larger base for future cash generation over the next several quarters.
Read all positive factors
Rush Street Interactive Key Performance Indicators (KPIs)
Any
Revenue by Geography
Breaks down revenue across different regions, revealing where the company is strongest and where it may face risk or growth potential due to local economic conditions or market share shifts.
Breaks down revenue across different regions, revealing where the company is strongest and where it may face risk or growth potential due to local economic conditions or market share shifts.
Data provided by:
The Fly
The FlyRush Street Interactive (RSI) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$4.64B
Dividend YieldN/A
Average Volume (3M)3.12M
Price to Earnings (P/E)65.1
Beta (1Y)0.65
Revenue Growth34.29%
EPS Growth14.69%
CountryUS
Employees912
SectorConsumer Cyclical
Sector Strength84
IndustryGambling, Resorts & Casinos
Share Statistics
EPS (TTM)0.31
Shares Outstanding115,626,350
10 Day Avg. Volume4,701,492
30 Day Avg. Volume3,118,588
Financial Highlights & Ratios
PEG Ratio0.05
Price to Book (P/B)12.65
Price to Sales (P/S)1.64
P/FCF Ratio14.14
Enterprise Value/Market Cap0.70
Enterprise Value/Revenue2.39
Enterprise Value/Gross Profit6.84
Enterprise Value/Ebitda17.17
Forecast
1Y Price Target
$35.40Price Target Upside33.99% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering10
EPS Forecast (FY)0.62
Revenue Forecast (FY)$1.59B
Rush Street Interactive Business Overview & Revenue Model
Company Description
Rush Street Interactive, Inc. (RSI) functions as a prominent online casino and sports betting enterprise, catering to markets in both the United States and Latin America. The company's diverse service portfolio includes real-money online casino ga...
How the Company Makes Money
RSI primarily makes money by operating online real-money gaming products in regulated markets and retaining a portion of customer wagering activity (net of payouts and certain player incentives), with revenue generally reported as gaming revenue (...
Rush Street Interactive Earnings Call Summary
Earnings Call Date:Jul 29, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 04, 2026
Earnings Call Sentiment Positive
The call reflects a strongly positive operating quarter: record revenue and adjusted EBITDA, rapid MAU growth across North America and Latin America, a favorable product mix led by online casino, raised full-year guidance, a clean balance sheet, and successful execution during the World Cup and the Alberta market launch. Near-term challenges include Colombian tax uncertainty, deliberate higher marketing spend that will pressure Q3 EBITDA, lower North America ARPMAU due to new cohorts, and heightened competition. Overall, the positive operational and financial momentum materially outweighs the near-term headwinds.Positive Updates
Record Quarterly Revenue
Q2 revenue of $394.0M, up 46% year-over-year — the fastest quarterly revenue growth in over four years and a new company record.
Negative Updates
Modest Net Income Growth
Net income was $29.3M versus $28.8M prior-year, a 2% year-over-year increase — a relatively small net income move compared with large top-line and EBITDA growth.
Read all updates
Q2-2026 Updates
Positive
Negative
Record Quarterly Revenue
Q2 revenue of $394.0M, up 46% year-over-year — the fastest quarterly revenue growth in over four years and a new company record.
Read all positive updates
Company Guidance
Management raised full‑year revenue guidance to $1.56–$1.60 billion (up 38–41% YoY; midpoint $1.58B, a $65M increase from prior guidance) and adjusted EBITDA to $245–$265 million (up 59–72% YoY; midpoint $255M, a $15M raise), while continuing to assume a 16% GGR tax in Colombia through year‑end (Q1 benefited ~ $7M from a temporary tax reversal); the raise reflects North American iCasino share gains, outsized Latin America growth and a well‑managed World Cup. Management expects Q3 revenue roughly flat to Q2 (Q2 was $394M) after stripping a ~ $10M sports‑hold benefit in Q2, called Q3 the likely low EBITDA quarter due to planned H2 marketing increases (including an incremental ~$7–$10M in Q3 vs Q2) with a sizable EBITDA step‑up into Q4, and provided modeling cadence inputs (Q2 adjusted EBITDA $64.6M at 16.4% margin, Q2 gross margin 35.5%, Q2 marketing $48.6M or 12.3% of revenue, G&A $26.5M or 6.7%). For earnings build‑outs they cited FY line items of ~ $47M D&A, ~$30M stock‑based comp, ~$12M interest income, ~$74M tax, ~237M diluted shares (implying ~ $0.62 adjusted EPS at the guidance midpoint), and reiterated a strong balance sheet (cash ~$340M, zero debt) plus shareholder optionality (repurchased ~$29M of shares under prior program and a new $100M repurchase authorized).Rush Street Interactive Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
80
Positive
Cash Flow
86
Very Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.37B | 1.13B | 924.08M | 691.16M | 592.21M | 488.11M |
| Gross Profit | 478.00M | 392.76M | 322.05M | 226.15M | 177.55M | 155.96M |
| EBITDA | 190.29M | 28.89M | 64.96M | -19.09M | -110.47M | -61.97M |
| Net Income | 31.92M | 33.31M | 2.39M | -18.30M | -38.63M | -29.06M |
Balance Sheet | ||||||
| Total Assets | 793.28M | 658.51M | 379.47M | 318.58M | 350.35M | 408.73M |
| Cash, Cash Equivalents and Short-Term Investments | 348.24M | 340.50M | 229.17M | 168.33M | 206.08M | 281.03M |
| Total Debt | 14.79M | 18.46M | 4.64M | 4.13M | 1.90M | 1.66M |
| Total Liabilities | 454.40M | 355.02M | 181.15M | 152.45M | 159.47M | 101.03M |
| Stockholders Equity | 185.08M | 147.24M | 78.68M | 53.77M | 56.05M | 85.44M |
Cash Flow | ||||||
| Free Cash Flow | 170.74M | 131.64M | 77.02M | -37.12M | -88.62M | -82.94M |
| Operating Cash Flow | 182.68M | 165.00M | 106.45M | -5.93M | -60.32M | -48.19M |
| Investing Cash Flow | -39.77M | -37.02M | -33.36M | -33.78M | -28.99M | -37.00M |
| Financing Cash Flow | -64.96M | -37.36M | -2.65M | -518.00K | -1.22M | 125.58M |
Rush Street Interactive Technical Analysis
Negative
26.42
Price Trends
25.20
Negative
27.34
Negative
24.00
Negative
Market Momentum
-1.83
Positive
27.07
Positive
21.21
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For RSI, the sentiment is Negative. The current price of 26.42 is above the 20-day moving average (MA) of 23.11, above the 50-day MA of 25.20, and above the 200-day MA of 24.00, indicating a bearish trend. The MACD of -1.83 indicates Positive momentum. The RSI at 27.07 is Positive, neither overbought nor oversold. The STOCH value of 21.21 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for RSI.
Rush Street Interactive Risk Analysis
Rush Street Interactive disclosed 62 risk factors in its most recent earnings report. Rush Street Interactive reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Rush Street Interactive Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | $5.72B | 15.41 | 45.70% | 3.91% | 17.33% | 176.52% | |
67 Neutral | $4.64B | 65.14 | 20.44% | ― | 34.29% | 14.69% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
56 Neutral | $7.67B | 18.25 | 16.96% | 0.03% | 3.19% | -8.14% | |
56 Neutral | $16.54B | -55.20 | -26.30% | ― | 15.03% | 46.89% | |
52 Neutral | $1.98B | -2.33 | -48.48% | 5.71% | 6.14% | -1168.84% | |
50 Neutral | $6.04B | -13.00 | -12.62% | ― | 2.41% | -146.70% |
* Consumer Cyclical Sector Average
RSI
Rush Street Interactive
20.01
1.32
7.06%
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Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.