Rush Street Interactive publishes Q1 financial report
RSI has recently published its first quarterly financial analysis of the year.
Starting off with the most important figures, the firm’s revenue went up by 20% in comparison to the first quarter of 2022, from under 135 million dollars to over 162 million dollars. However, just like in the prior year, the firm experienced a net loss at the end of the period, which was recorded at 24.5 million dollars. This was down by over 50% from 2022’s loss of over 52 million dollars.
The company’s adjusted EBITDA losses went down by an even larger margin, going from 2022’s 43 million dollars to 8.6 million dollars this year. This constituted the majority of the reduction in RSI’s net losses, as its operating expenses shrank by a much smaller proportion of 2% from 181 million dollars to 176.8 million dollars.
Just like its total net losses, the company’s adjusted losses per share were cut in half as well, going from 22 cents per share to 8 cents per share.
In addition to the firm’s main financial figures, the report also covered a few of RSI’s highlights in the period, such as the expansion of its popular Squares game to basketball and the opening of a new office in Colombia under its RushBet brand.