Rush Street Interactive, Inc. Q4 2025 Earnings Call Summary

Moby Intelligence

Wed, February 18, 2026 astatine 7:30 AM CST 3 min read

• Achieved grounds yearly gross of $1.13 cardinal and 66% adjusted EBITDA maturation without the payment of caller marketplace launches, demonstrating important operating leverage.

• Attributed exceptional show to a 'virtuous cycle' of systematic improvements crossed the lawsuit journey, including diversified marketing, reduced UX friction, and enhanced information analytics.

• Prioritized a 'casino-first' strategy, noting that online casino players typically grounds higher beingness values, amended retention, and much accordant engagement than sports-only users.

• Reported accelerating momentum successful North American online casino markets, with monthly progressive users (MAUs) increasing 51% year-over-year successful Q4 2025.

• Successfully navigated a challenging Colombian taxation situation by strategically absorbing VAT costs done adjusted bonusing to support marketplace stock and subordinate loyalty.

• Maintained a disciplined attack to marketplace entry, focusing resources connected high-value jurisdictions wherever the afloat suite of gaming offerings tin beryllium deployed.

• Leveraged lawsuit work excellence and businesslike subordinate acquisition to scope grounds first-time depositors for 3 consecutive quarters.

• Projected 2026 gross betwixt $1.375 cardinal and $1.425 billion, assuming the 19% Colombian taxation connected gross remains successful spot for the afloat year.

• Anticipated an upcoming motorboat successful Alberta, Canada, perchance arsenic aboriginal arsenic Q2 2026, which is not yet factored into the ceremonial fiscal guidance.

• Planned accrued investments successful proprietary differentiated casino contented and legislative lobbying to capitalize connected imaginable state-level iGaming openings.

• Expected selling walk to summation successful implicit presumption to seizure maturation opportunities but alteration arsenic a percent of revenue, driving further borderline expansion.

• Assumed a instrumentality to meaningful ARPMAU maturation successful Latin America pursuing the expiration of the impermanent VAT bonusing strategy utilized successful 2025.

• The Colombian Constitutional Court suspended a caller exigency taxation decree successful precocious January 2026; absorption remains optimistic for a favorable semipermanent resolution.

• Navigated a $75 cardinal gross headwind successful 2025 owed to incremental bonusing successful Colombia, which impacted adjusted EBITDA by astir $25 cardinal to $30 million.

• Maintained a beardown liquidity presumption with $336 cardinal successful currency and astir $42 cardinal remaining nether the existent stock repurchase authorization.

• Monitoring the improvement of prediction markets but presently prioritizing halfway casino and sports verticals wherever the institution sees higher strategical value.