Rush Street Interactive, Inc. · NYSE:RSI
Rush Street Interactive — Q3 2024 Earnings Presentation
27 slides from Rush Street Interactive's earnings presentation, Oct 30, 2024
Slide 1: Investor Presentation
Investor Presentation - October 2024 -
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation contains “forward-looking statements” within the meaning of The Private Securities Litigation Reform Act of 1995. Forward-looking statements include, without limitation, statements regarding the estimated future financial performance, financial position a
Slide 3: Investment Highlights
Investment Highlights A leading digital operator driven by an iCasino-centric strategy, innovative online gaming user experience and 1 seasoned management team 2 Rank in the top 5 operators for net revenue in iCasino and online sports betting in the United States Extensive market access to future iC
Slide 4: Company Highlights
Company Highlights Financial Highlights Business Highlights 1 Achieved record revenue of $232MM in 3Q24, up 37% Y-o-Y. 1 Grew both iCasino and OSB revenue over 30% Y-o-Y in US & Canada. Grew Adjusted EBITDA to a record $23MM in 3Q24, up $19MM Y-o-Y as flow- In Latin America, and in US and Canadian m
Slide 5: RSI's Market Access Creates Growth Opportunity and Paves the Way for iCasino
Online Sports Retail Sports Markets iCasino RSI’s Market Access Creates Growth Domestic Betting Betting Opportunity and Paves the Way for iCasino Arizona Colorado Market Access Partner of Choice Delaware Illinois Indiana RSI benefits from a larger potential TAM than most competitors due to Iowa inte
Slide 6: Key Positioning in iCasino Markets
Key Positioning in iCasino Markets RSI is a top tier operator in all visible markets, operating in as many states as any other operator in the U.S. United States and Canada % of U.S. Adult Population in iCasino and OSB Markets West Delaware1 Pennsylvania Michigan New Jersey Ontario Virginia 41% 88%
Slide 7: Beachhead to Grow New Markets in LATAM
Beachhead to Grow New Markets in LATAM Existing Core Markets Population: 52MM COLOMBIA GDP per capita: $7.0k Regulatory Status: iCasino and OSB regulated Population: 128MM MEXICO GDP per capita: $13.9k Regulatory Status: iCasino and OSB regulated Population: 34MM Latin America PERU GDP per capita: $
Slide 8: Scalable Platform Proven to Increase Retention and Player Values
Scalable Platform Proven to Increase Retention and Player Values ROBUST, SCALABLE ARCHITECTURE MULTI-BRAND, MULTI-VERTICAL & MULTI-JDX • Modern end-to-end technology stack with modular architecture & • Demonstrated success operating multi-brands in the same market components (i.e., bonus abuse prote
Slide 9: Proprietary Promotional Games with Leading Third-party Content
Proprietary Promotional Games with Leading Third-party Content Breadth and Quality of Content Promotional Free-to-play Bingo Platform Offering market leading quality and selection Increase retention by rewarding brand loyalty 70+[TBD – Design working on relevant imagery] 5000+ • Frequently first to
Slide 10: RSI's iCasino Product Improves Player Experience through Community Engagement
RSI’s iCasino Product Improves Player Experience through Community Engagement P2P Community Moderator Chat Multi-player Online Casino Tournaments Increased engagement through connectivity Increase engagement through competitions • Free-to-play tournament system supports a broad range of casino game
Slide 11: Sportsbook Promotional Features
Sportsbook Promotional Features This Fall, BetRivers is upping the stakes for sports bettors with exciting gamified betting features on qualifying same game parlay bets. BetRivers will once again be offering players Squares on qualifying football bets, and just in time for NBA Tip Off the new PropPa
Slide 12: iRush Rewards Updated Loyalty Program
iRush Rewards Updated Loyalty Program In August, RSI rolled out our revamped loyalty program (iRush Rewards) across our owned and operated brands: BetRivers, PlaySugarHouse, and RushBet. The reimagination of the program at RSI was designed to make loyalty rewards easier and ultimately more rewarding
Slide 13: Casino Led Strategy with Attractive Demographics & Unit Economics
…And Casino Led Strategy with Attractive Demographics & Unit Economics Broader Demographics Better Monetization Larger Market • Large cohort of female slot players generates • Users of iCasino have a GGR that is nearly 6x higher • iCasino TAM is 3x the size of online sports betting in diversificatio
Slide 14: The BetRivers Network Enhances User & Brand Engagement
The BetRivers Network Enhances User & Brand Engagement RSI's in-house media outlet produces YouTube-focused content, including must-watch poker, iGaming companion entertainment, expert previews for key betting sports, and local sports shows for fans & bettors alike Commentary • BetRivers Network spo
Slide 15: Strong Player Value & Retention
Strong Player Value & Retention • Increasing player value over time – over $4,000 per player after 48 months1 • Strong retention and new markets expected to drive continued revenue growth Avg LTV for All U.S. & Ontario Cohorts Since Inception1 Quarterly Net Revenue by Yearly Cohort ($MM) 2 Launches
Slide 16: Strong Growth Across Regions
Strong Growth Across Regions Demonstrated history of growing revenues across regions over the long-term from an expanding user base while maintaining strong revenue per user metrics U.S. & Canada1 LATAM2 Average Monthly Active Users (“MAUs”) Average Monthly Active Users (“MAUs”) 200,000 Peru 400,000
Slide 17: Award-Winning Customer Service
RSI has won EGR “Customer Service Operator of the Year” Award-Winning Customer Service 5 years straight – every year since the award’s inception YTD Q3 2024, Net Promoter Score has increased by 7.6 points, First Contract Resolution has increased by 7.0%, and Customer Satisfaction1 has increased by 4
Slide 18: Nearly 150 Years of Collective C-Suite Gaming Industry Experience
Nearly 150 Years of Collective C-Suite Gaming Industry Experience RICHARD KYLE MATTIAS EINAR LAURA MCALLISTER PAUL ROB MICHELLE BRIAN SCHWARTZ SAUERS STETZ ROOSILEHT COX WIERBICKI PICARD ARMER SAPP Chief Executive Chief Financial Chief Operating Chief Information Chief Compliance Chief Legal Chief A
Slide 19: Financial Overview
Financial Overview RUSH
Slide 20: Statements of Operations
Statements of Operations Amounts in USD $000’s (except for shares and per share data) Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 (Unaudited) (Unaudited) (Unaudited) (Unaudited) Revenue $ 232,109 $ 169,887 $ 669,916 $ 497,310 Operating costs and expenses Cost
Slide 21: Statements of Comprehensive Income (Loss)
Statements of Comprehensive Income (Loss) Amounts in USD $000’s Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 (Unaudited) (Unaudited) (Unaudited) (Unaudited) Net income (loss) $ 3,239 $ (13,366) $ 748 $ (54,600) Other comprehensive income (loss) Foreign currenc
Slide 22: Non-GAAP Financial Measures
Non-GAAP Financial Measures This presentation includes certain non-GAAP financial measures, including Adjusted EBITDA, Adjusted Operating Costs and Expenses, Adjusted Net Income (Loss), Adjusted Earnings (Loss) Per Share and Adjusted Weighted Average Common Shares Outstanding, each of which is defin
Slide 23: Non-GAAP Measures: Adjusted EBITDA
Non-GAAP Measures: Adjusted EBITDA Amounts in USD $000's Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 (Unaudited) (Unaudited) (Unaudited) (Unaudited) Net income (loss) $ 3,239 $ (13,366) $ 748 $ (54,600) (-) Interest income, net (2,049) (762) (5,525) (1,430) (
Slide 24: Non-GAAP Measures: Adjusted Operating Costs and Expenses
Non-GAAP Measures: Adjusted Operating Costs and Expenses Amounts in USD $000's Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 (Unaudited) (Unaudited) (Unaudited) (Unaudited) GAAP operating costs and expenses: Costs of revenue $ 151,414 $ 116,159 $ 440,414 $ 333,
Slide 25: Non-GAAP Measures: Adjusted Net Income, Shares and Earnings Per Share
Non-GAAP Measures: Adjusted Net Income (Loss); Adjusted Weighted Average Common Shares Outstanding; Adjusted Earnings (Loss) Per Share Amounts in USD $000's (except for shares and per share data) Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 Adjusted net income
Slide 26: Capitalization
Capitalization Common Stock Type of Outstanding Equity as of September 30, 2024 Outstanding Class V Common Stock1 142,088,928 Class A Common Stock 83,583,534 Total outstanding 225,672,462 (1) Owned by certain founders and early investors in Rush Street Interactive. 26
Slide 27: Key Metrics and Other Information
Key Metrics and Other Information This presentation includes certain key metrics and other information, including Average Revenue Per Monthly Active User, First Time Depositor, Gross Gaming Revenue, Lifetime Value and Monthly Active Users, each of which is defined below. Average Revenue Per Monthly
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