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10-Q Filing

RUSH STREET INTERACTIVE, INC. CIK: 1793659 Q1 2023
Filing Information
Form Type 10-Q
Accession Number 0001793659-23-000043
Period End Date 20230331
Filing Date 20230504
Fiscal Year 2023
Fiscal Period Q1
XBRL Instance rsi-20230331_htm.xml
Balance Sheet 62 line items
Line Item Tag Value Unit Period
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $179.72M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $147.29M USD Point-in-time
Restricted cash RestrictedCashAndCashEquivalents $28.31M USD Point-in-time
Restricted cash RestrictedCashAndCashEquivalents $26.36M USD Point-in-time
Players receivables AccountsReceivableNetCurrent $11.17M USD Point-in-time
Players receivables AccountsReceivableNetCurrent $8.11M USD Point-in-time
Due from affiliates DueFromAffiliateCurrent $28.75M USD Point-in-time
Due from affiliates DueFromAffiliateCurrent $35.90M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $11.31M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $15.44M USD Point-in-time
Total current assets AssetsCurrent $264.47M USD Point-in-time
Total current assets AssetsCurrent $227.91M USD Point-in-time
Intangible assets, net FiniteLivedIntangibleAssetsNet $75.78M USD Point-in-time
Intangible assets, net FiniteLivedIntangibleAssetsNet $69.03M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization $9.04M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization $9.76M USD Point-in-time
Operating lease assets OperatingLeaseRightOfUseAsset $1.85M USD Point-in-time
Operating lease assets OperatingLeaseRightOfUseAsset $1.46M USD Point-in-time
Other assets OtherAssetsNoncurrent $5.23M USD Point-in-time
Other assets OtherAssetsNoncurrent $5.11M USD Point-in-time
Total assets Assets $350.35M USD Point-in-time
Total assets Assets $319.29M USD Point-in-time
Accounts payable AccountsPayableCurrent $17.76M USD Point-in-time
Accounts payable AccountsPayableCurrent $29.80M USD Point-in-time
Accrued expenses AccruedLiabilitiesCurrent $64.90M USD Point-in-time
Accrued expenses AccruedLiabilitiesCurrent $61.16M USD Point-in-time
Players liabilities PlayersLiabilitiesCurrent $41.67M USD Point-in-time
Players liabilities PlayersLiabilitiesCurrent $42.51M USD Point-in-time
Current deferred royalty liabilities DeferredRoyaltiesCurrent $2.01M USD Point-in-time
Current deferred royalty liabilities DeferredRoyaltiesCurrent $1.53M USD Point-in-time
Current operating lease liabilities OperatingLeaseLiabilityCurrent $722.00K USD Point-in-time
Current operating lease liabilities OperatingLeaseLiabilityCurrent $666.00K USD Point-in-time
Other current liabilities OtherLiabilitiesCurrent $4.48M USD Point-in-time
Other current liabilities OtherLiabilitiesCurrent $6.68M USD Point-in-time
Total current liabilities LiabilitiesCurrent $143.94M USD Point-in-time
Total current liabilities LiabilitiesCurrent $129.95M USD Point-in-time
Non-current deferred royalty liabilities DeferredRoyaltiesNoncurrent $13.69M USD Point-in-time
Non-current deferred royalty liabilities DeferredRoyaltiesNoncurrent $14.11M USD Point-in-time
Non-current operating lease liabilities OperatingLeaseLiabilityNoncurrent $841.00K USD Point-in-time
Non-current operating lease liabilities OperatingLeaseLiabilityNoncurrent $1.18M USD Point-in-time
Other non-current liabilities OtherLiabilitiesNoncurrent $244.00K USD Point-in-time
Other non-current liabilities OtherLiabilitiesNoncurrent $418.00K USD Point-in-time
Total liabilities Liabilities $159.47M USD Point-in-time
Total liabilities Liabilities $144.90M USD Point-in-time
Commitments and contingencies CommitmentsAndContingencies - USD Point-in-time
Commitments and contingencies CommitmentsAndContingencies - USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $181.58M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $177.68M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-1.65M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-1.59M USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-120.01M USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-127.27M USD Point-in-time
Total stockholders equity attributable to Rush Street Interactive, Inc. StockholdersEquity $52.73M USD Point-in-time
Total stockholders equity attributable to Rush Street Interactive, Inc. StockholdersEquity $56.05M USD Point-in-time
Non-controlling interests MinorityInterest $134.83M USD Point-in-time
Non-controlling interests MinorityInterest $121.66M USD Point-in-time
Total stockholders equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $260.88M USD Point-in-time
Total stockholders equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $190.87M USD Point-in-time
Total stockholders equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $174.39M USD Point-in-time
Total stockholders equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $307.70M USD Point-in-time
Total liabilities and stockholders equity LiabilitiesAndStockholdersEquity $319.29M USD Point-in-time
Total liabilities and stockholders equity LiabilitiesAndStockholdersEquity $350.35M USD Point-in-time
Income Statement 34 line items
Line Item Tag Value Unit Period
Revenue RevenueFromContractWithCustomerExcludingAssessedTax $134.94M USD 1 Quarter
Revenue RevenueFromContractWithCustomerExcludingAssessedTax $162.36M USD 1 Quarter
Costs of revenue CostOfRevenue $99.86M USD 1 Quarter
Costs of revenue CostOfRevenue $107.15M USD 1 Quarter
Advertising and promotions MarketingAndAdvertisingExpense $66.85M USD 1 Quarter
Advertising and promotions MarketingAndAdvertisingExpense $49.94M USD 1 Quarter
General administration and other GeneralAndAdministrativeExpense $15.54M USD 1 Quarter
General administration and other GeneralAndAdministrativeExpense $21.59M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $5.75M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $2.74M USD 1 Quarter
Total operating costs and expenses CostsAndExpenses $184.44M USD 1 Quarter
Total operating costs and expenses CostsAndExpenses $184.98M USD 1 Quarter
Loss from operations OperatingIncomeLoss $-50.05M USD 1 Quarter
Loss from operations OperatingIncomeLoss $-22.08M USD 1 Quarter
Interest income (expense), net InterestIncomeExpenseNet $-222.00K USD 1 Quarter
Interest income (expense), net InterestIncomeExpenseNet $380.00K USD 1 Quarter
Loss before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $-21.70M USD 1 Quarter
Loss before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $-50.27M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $2.00M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $2.80M USD 1 Quarter
Net loss ProfitLoss $-24.50M USD 1 Quarter
Net loss ProfitLoss $-52.27M USD 1 Quarter
Net loss attributable to non-controlling interests NetIncomeLossAttributableToNoncontrollingInterest $-17.24M USD 1 Quarter
Net loss attributable to non-controlling interests NetIncomeLossAttributableToNoncontrollingInterest $-37.57M USD 1 Quarter
Net loss attributable to Rush Street Interactive, Inc. NetIncomeLoss $-14.70M USD 1 Quarter
Net loss attributable to Rush Street Interactive, Inc. NetIncomeLoss $-7.26M USD 1 Quarter
Net loss per common share attributable to Rush Street Interactive, Inc. - diluted (in dollars per share) EarningsPerShareDiluted $-0.24 USD 1 Quarter
Net loss per common share attributable to Rush Street Interactive, Inc. - diluted (in dollars per share) EarningsPerShareDiluted $-0.11 USD 1 Quarter
Net loss per common share attributable to Rush Street Interactive, Inc - basic (in dollars per share) EarningsPerShareBasic $-0.24 USD 1 Quarter
Net loss per common share attributable to Rush Street Interactive, Inc - basic (in dollars per share) EarningsPerShareBasic $-0.11 USD 1 Quarter
Weighted average number of shares outstanding - diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 65.26M shares 1 Quarter
Weighted average number of shares outstanding - diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 61.80M shares 1 Quarter
Weighted average common shares outstanding - basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 65.26M shares 1 Quarter
Weighted average common shares outstanding - basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 61.80M shares 1 Quarter
Cash Flow Statement 70 line items
Line Item Tag Value Unit Period
Net loss ProfitLoss $-24.50M USD 1 Quarter
Net loss ProfitLoss $-52.27M USD 1 Quarter
Share-based compensation expense ShareBasedCompensation $3.94M USD 1 Quarter
Share-based compensation expense ShareBasedCompensation $7.67M USD 1 Quarter
Depreciation and amortization expense DepreciationDepletionAndAmortization $5.75M USD 1 Quarter
Depreciation and amortization expense DepreciationDepletionAndAmortization $2.74M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit - USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $44.00K USD 1 Quarter
Noncash lease expense NonCashOperatingLeaseCosts $162.00K USD 1 Quarter
Noncash lease expense NonCashOperatingLeaseCosts $161.00K USD 1 Quarter
Write off of long-lived assets ImpairmentOfLongLivedAssetsToBeDisposedOf $613.00K USD 1 Quarter
Write off of long-lived assets ImpairmentOfLongLivedAssetsToBeDisposedOf - USD 1 Quarter
Players receivables IncreaseDecreaseInAccountsReceivable $1.44M USD 1 Quarter
Players receivables IncreaseDecreaseInAccountsReceivable $-3.06M USD 1 Quarter
Due from affiliates IncreaseDecreaseDueFromAffiliates $2.60M USD 1 Quarter
Due from affiliates IncreaseDecreaseDueFromAffiliates $-7.15M USD 1 Quarter
Prepaid expenses and other current assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $2.49M USD 1 Quarter
Prepaid expenses and other current assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $4.13M USD 1 Quarter
Other assets IncreaseDecreaseInOtherOperatingAssets $-123.00K USD 1 Quarter
Other assets IncreaseDecreaseInOtherOperatingAssets $-133.00K USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $-12.01M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $-5.28M USD 1 Quarter
Accrued expenses and other current liabilities IncreaseDecreaseInAccruedLiabilitiesAndOtherCurrentLiabilities $-7.23M USD 1 Quarter
Accrued expenses and other current liabilities IncreaseDecreaseInAccruedLiabilitiesAndOtherCurrentLiabilities $11.08M USD 1 Quarter
Players liabilities IncreaseDecreaseInPlayersLiabilities $-839.00K USD 1 Quarter
Players liabilities IncreaseDecreaseInPlayersLiabilities $9.46M USD 1 Quarter
Deferred royalty liabilities IncreaseDecreaseInDeferredRoyalties $-323.00K USD 1 Quarter
Deferred royalty liabilities IncreaseDecreaseInDeferredRoyalties $63.00K USD 1 Quarter
Operating lease liabilities IncreaseDecreaseInLeaseLiabilities $-162.00K USD 1 Quarter
Operating lease liabilities IncreaseDecreaseInLeaseLiabilities $-165.00K USD 1 Quarter
Net cash used in operating activities NetCashProvidedByUsedInOperatingActivities $-37.01M USD 1 Quarter
Net cash used in operating activities NetCashProvidedByUsedInOperatingActivities $-24.28M USD 1 Quarter
Purchases of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $1.04M USD 1 Quarter
Purchases of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $429.00K USD 1 Quarter
Acquisition of gaming licenses PaymentsToAcquireGamingLicenses $79.00K USD 1 Quarter
Acquisition of gaming licenses PaymentsToAcquireGamingLicenses $927.00K USD 1 Quarter
Internally developed software costs PaymentsToDevelopSoftware $1.40M USD 1 Quarter
Internally developed software costs PaymentsToDevelopSoftware $5.79M USD 1 Quarter
Media content production costs PaymentsToAcquireIntangibleAssets $169.00K USD 1 Quarter
Media content production costs PaymentsToAcquireIntangibleAssets - USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-3.37M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-6.47M USD 1 Quarter
Principal payments of finance lease liabilities FinanceLeasePrincipalPayments $432.00K USD 1 Quarter
Principal payments of finance lease liabilities FinanceLeasePrincipalPayments $24.00K USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-24.00K USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-432.00K USD 1 Quarter
Effect of exchange rate changes on cash, cash equivalents and restricted cash EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $1.49M USD 1 Quarter
Effect of exchange rate changes on cash, cash equivalents and restricted cash EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $283.00K USD 1 Quarter
Net change in cash, cash equivalents and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-39.32M USD 1 Quarter
Net change in cash, cash equivalents and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-30.48M USD 1 Quarter
Cash, cash equivalents and restricted cash, at the beginning of the period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $261.01M USD Point-in-time
Cash, cash equivalents and restricted cash, at the beginning of the period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $175.60M USD Point-in-time
Cash, cash equivalents and restricted cash, at the beginning of the period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $206.08M USD Point-in-time
Cash, cash equivalents and restricted cash, at the beginning of the period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $300.33M USD Point-in-time
Cash, cash equivalents and restricted cash, at the end of the period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $261.01M USD Point-in-time
Cash, cash equivalents and restricted cash, at the end of the period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $175.60M USD Point-in-time
Cash, cash equivalents and restricted cash, at the end of the period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $206.08M USD Point-in-time
Cash, cash equivalents and restricted cash, at the end of the period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $300.33M USD Point-in-time
Operating lease assets obtained in exchange for new or modified operating lease liabilities RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability $410.00K USD 1 Quarter
Operating lease assets obtained in exchange for new or modified operating lease liabilities RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability - USD 1 Quarter
Allocation of equity and non-controlling interests upon changes in RSILP ownership NoncashOrPartNoncashAcquisitionReverseRecapitalization $3.45M USD 1 Quarter
Allocation of equity and non-controlling interests upon changes in RSILP ownership NoncashOrPartNoncashAcquisitionReverseRecapitalization $1.52M USD 1 Quarter
Property and equipment purchases in Accounts Payable and Accrued Expenses CapitalExpendituresIncurredButNotYetPaid $31.00K USD 1 Quarter
Property and equipment purchases in Accounts Payable and Accrued Expenses CapitalExpendituresIncurredButNotYetPaid $146.00K USD 1 Quarter
License fee purchases in Accounts Payable and Accrued Expenses LicenseFeesAccruedNotYetPaid $5.88M USD 1 Quarter
License fee purchases in Accounts Payable and Accrued Expenses LicenseFeesAccruedNotYetPaid - USD 1 Quarter
Cash paid for income taxes IncomeTaxesPaidNet $818.00K USD 1 Quarter
Cash paid for income taxes IncomeTaxesPaidNet $559.00K USD 1 Quarter
Cash paid for interest InterestPaidNet $241.00K USD 1 Quarter
Cash paid for interest InterestPaidNet $224.00K USD 1 Quarter
Stockholders Equity 17 line items
Line Item Tag Value Unit Period
Beginning balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $260.88M USD Point-in-time
Beginning balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $190.87M USD Point-in-time
Beginning balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $174.39M USD Point-in-time
Beginning balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $307.70M USD Point-in-time
Share-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $3.94M USD 1 Quarter
Share-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $7.67M USD 1 Quarter
Foreign currency translation adjustment OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $344.00K USD 1 Quarter
Foreign currency translation adjustment OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $1.51M USD 1 Quarter
Issuance of Class A Common Stock upon RSILP Unit Exchanges StockIssuedDuringPeriodValueNewIssues - USD 1 Quarter
Net loss ProfitLoss $-24.50M USD 1 Quarter
Net loss ProfitLoss $-52.27M USD 1 Quarter
Allocation of equity and non-controlling interests upon changes in RSILP ownership AdjustmentsToAdditionalPaidInCapitalEquityRecapitalization - USD 1 Quarter
Allocation of equity and non-controlling interests upon changes in RSILP ownership AdjustmentsToAdditionalPaidInCapitalEquityRecapitalization - USD 1 Quarter
Ending balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $260.88M USD Point-in-time
Ending balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $190.87M USD Point-in-time
Ending balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $174.39M USD Point-in-time
Ending balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $307.70M USD Point-in-time
Comprehensive Income 10 line items
Line Item Tag Value Unit Period
Net loss ProfitLoss $-24.50M USD 1 Quarter
Net loss ProfitLoss $-52.27M USD 1 Quarter
Foreign currency translation adjustment OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $344.00K USD 1 Quarter
Foreign currency translation adjustment OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $1.51M USD 1 Quarter
Comprehensive loss ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $-50.76M USD 1 Quarter
Comprehensive loss ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $-24.16M USD 1 Quarter
Comprehensive loss attributable to non-controlling interests ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $-36.48M USD 1 Quarter
Comprehensive loss attributable to non-controlling interests ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $-17.00M USD 1 Quarter
Comprehensive loss attributable to Rush Street Interactive, Inc. ComprehensiveIncomeNetOfTax $-14.27M USD 1 Quarter
Comprehensive loss attributable to Rush Street Interactive, Inc. ComprehensiveIncomeNetOfTax $-7.16M USD 1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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