Rush Street Interactive Q3 revenue rises 39% to $385.9m, EBITDA beats consensus
Rush Street Interactive reported Q3 revenue of $385.9m, up 39% year over year, while adjusted EBITDA rose to $62.2m, beating estimates.
Rush Street Interactive reported third-quarter revenue of $385.9 million, a 39% increase year over year, according to the company’s third-quarter results. The figure fell slightly short of the approximately $388 million consensus cited by Citizens JMP.
The operator’s adjusted EBITDA, a non-GAAP measure, increased to $62.2 million from $36 million, beating the $55 million consensus by 13%. GAAP net income rose 93% to $28.7 million in Q3, according to the company’s third-quarter results.
Revenue mix and regional performance
Online casino generated 75% of revenue and grew 32%, while online sports betting revenue rose 70%, CFO Kyle Sauers said on the third-quarter earnings call.
North American revenue increased 14%, against 218% growth in Latin America. North American monthly active users rose 34% to 300,572, but revenue per monthly active user fell 15% to $309.
Adjusted gross margin improved 240 basis points to 36.4%. The company ended September with $382 million in cash and no debt.
Guidance and Colombia tax outlook
Rush Street kept 2026 guidance of $1.56 billion to $1.6 billion in revenue and $245 million to $265 million in adjusted EBITDA.
Colombia’s 2027 budget omitted a new gaming tax, so the temporary 16% excise levy imposed by emergency decree is scheduled to expire at year-end, with the rate expected to revert to 15%. Citizens estimated that no further tax increase could add about $40 million to 2027 EBITDA.
Stifel cut its price target to $30 from $34 in an Oct. 26 note. Citizens retained Market Outperform but cut its price target to $24 from $34 as growth estimates eased.
Sources
- Gambling Insider · Industry media · primary source ·
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