Slide 1: Investor Presentation May 2021
Investor Presentation May 2021
Slide 2: Disclaimer
Disclaimer 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 and financ
Slide 3: Disclaimer (cont'd)
Disclaimer (cont’d) Use of Projections This presentation contains financial forecasts. RSI’s independent auditors have not studied, reviewed, compiled or performed any procedures with respect to the projections for the purpose of their inclusion in this presentation, and accordingly, neither of them
Slide 4: Highlights
Highlights 1 Grew revenue by 218% Y-o-Y to $112MM in 1Q21 2 Increased our FY2021 revenue guidance to $440MM-480MM 3 MAUs grew 166% in 1Q21 over 1Q20 to 115k1 4 ARPMAUs grew 21% in 1Q21 over 1Q20 to $3022 Launched online casino and sportsbook in Michigan, online sportsbook in Virginia and Iowa, onlin
Slide 5: The State of Play
The State of Play U.S. Today NJ IA PA CO IN 1 IL NY1 wv VA MI Combined Market Size3 ~$10bn 2 Future LATAM: Online Casino & Online Sports Betting Colombia Online Sports Betting RSI Market Access Agreements in Place Online Casino Estimated U.S. Market Size3 Authorized Sports Betting, Not yet operation
Slide 6: Online Casino - Well-Rounded Demographics and Stronger Economics than Sports Betting
Online Casino - Well-Rounded Demographics and Stronger Economics than Sports Betting…1 Average Time Spent Demographics Better Monetization Online casino customers are split approximately The average online sports betting and Online casino customers spend 1.9x more equally between male and female but
Slide 7: Online Casino Revenue Proving 3x Larger Than Online Sports Betting
Online Casino Revenue Proving 3x Larger Than Online Sports Betting Online casino generated more revenue than online sports betting in MI, NJ and PA during the trailing twelve months We believe the catalysts for the expansion of online casino in the US include: • States need new tax revenue due to CO
Slide 8: Efficient Operating Model
RUSH N T E R A C T Efficient Operating Model SUGAR HOUSE PLAYSUGARHOUSE CoM BETRIVERS.COM SPORTSBOOK | CASIN
Slide 9: Strong US Growth
Strong US Growth RSI has consistently grown its user base while simultaneously growing revenue per user • RSI’s focus on constantly improving the quality of the customer 1Q21 1Q20 experience has resulted in growth in ARPMAU • MAUs grew 166% in 1Q21 over 1Q201 ARPMAU $302 $249 • ARPMAUs grew 21% in 1
Slide 10: Returns Drive Marketing
Returns Drive Marketing Approach to Marketing Select Partnerships in Key Markets • Local, building consumer trust through well-known brands, Local Targeted Multi-Channel personalities, and businesses • Targeted, emphasis on the quality of a partner’s database, audience and reach factoring in likelih
Slide 11: Strong Return on Marketing Spend
Strong Return on Marketing Spend On average, all U.S. RSI cohorts since Promotional Credits as a % of Online Slot Machine Gross Revenue Jan-17 have paid back in their 6th month Pennsylvania, TTM 29.3% 18.2% RSI US LTV / CAC 5.6x Rest of Market1 3.9x 3.5x Promotional Credits as a % of Online Sports B
Slide 12: Strategic Social Casino Offering
Strategic Social Casino Offering Soon-To-Be-Regulated • Same platform as RMG platform, offering an authentic online casino Live States States experience • Social casino players are converted to RMG at very low CACs Social Casino Registrations • Consistent revenue growth with trailing 12 months ARPDA
Slide 13: Leading iGaming Platform and Market Position
Leading iGaming Product Leading iCasino Product Proprietary RSI Leading Online Sportsbook Product Platform Full suite of game offerings Premier in-game offering and live event streaming Engaging design & unique features drive customer Social Casino Upgraded iOS App and launched Android App on retent
Slide 14: iGaming Platform and Market Position
iGaming Platform and Market Position RSI’s proprietary iGaming platform has allowed it to establish a market leading position via its speed to market and proven platform iGaming Platform Leading Market Position Early to launch online gaming RSI provides a customer facing platform and support service
Slide 15: Financial Overview
RUSH N T E R A C T Financial Overview SUGAR HOUSE PLAYSUGARHOUSE COM BETRIVERS.COM SPORTSBOOK
Slide 16: Recent Performance
Recent Performance RSI Consolidated Revenue, 2Q19 – 1Q21 Y-o-Y Growth Rate Revenue (amount in USD millions) (1Q20 to 1Q21) 218% RSI has generated record levels of revenue every $112 quarter since 2Q191 $100 $78 Online casino excelled in 2020 and 1Q21 and is expected to continue to be a strong perfor
Slide 17: Statements of Operations
Statements of Operations Amounts in USD $000’s Three months ended March 31, 2021 2020 (Unaudited) (Unaudited) Revenue $111,820 $35,177 Costs of revenue 79,687 22,380 Advertising and promotions 42,216 8,470 General administration and other 16,564 16,766 Depreciation and amortization 674 459 Total ope
Slide 18: Statements of Comprehensive Loss
Statements of Comprehensive Loss Amounts in USD $000’s Three months ended March 31, 2021 2020 (Unaudited) (Unaudited) Net loss $(76) $(12,943) Other comprehensive income (loss) Foreign currency translation adjustment (624) (364) Comprehensive loss (700) (13,307) Comprehensive loss attributable to no
Slide 19: Appendix
RUSH N T E R A C T Appendix SUGAR HOUSE PLAYSUGARHOUSE COM BETRIVERS.COM SPORTSBOOK
Slide 20: Rush Street Interactive Management Team
Rush Street Interactive (“RSI”) Management Team NEIL BLUHM GREG CARLIN RICHARD SCHWARTZ KYLE SAUERS EINAR ROOSILEHT MATTIAS STETZ Chairman & Co-Founder CEO & Co-Founder President & Co-Founder CFO CIO COO Previous Experience • Co-founder of Rush Street • Co-founder of Rush Street • A leader and innov
Slide 21: 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 Loss, Adjusted Net Loss Per Share and Adjusted Weighted Average Common Stock Outstanding, each of which is defined below: Adjuste
Slide 22: Non-GAAP measures: Adjusted EBITDA
Non-GAAP measures: Adjusted EBITDA Three months ended March 31, Amounts in USD $000’s 2021 2020 (Unaudited) (Unaudited) Net loss $ (76) $ (12,943) (+) Depreciation and amortization 674 459 (+) Interest expense, net 13 45 (+) Income tax expense 804 - (-) Change in fair value of warrant liabilities (4
Slide 23: Non-GAAP measures: Adjusted Operating Costs and Expenses
Non-GAAP measures: Adjusted Operating Costs and Expenses Three months ended March 31, Amounts in USD $000’s 2021 2020 GAAP Operating Costs and Expenses: Costs of revenue $ 79,687 $ 22,380 Advertising and promotions 42,216 8,470 General administration and other 16,564 16,766 Depreciation and amortiza
Slide 24: Non-GAAP measures: Adjusted Net Loss
Non-GAAP measures: Adjusted Net Loss; Adjusted Weighted Average Common Shares Outstanding; Adjusted Net Loss Per Share Three months ended Amounts in USD $000’s (except for shares and per share data) March 31, 2021 Adjusted Net Loss: Net loss attributable to Rush Street Interactive, Inc. – diluted(1)
Slide 25: Capitalization
Capitalization Fully Diluted Class Type of Outstanding Equity as of March 31, 2021 A Common Stock Class V Common Stock 160,000,000 Class A Common Stock 59,159,364 Total Outstanding(1) 219,159,364 (1) As of March 31, 2021, all of the private placement warrants, working capital warrants and public war
Slide 26: Key Metrics and Other Information
Key Metrics and Other Information This presentation includes certain key metrics and other information, including Average Revenue Per Daily Active User, Average Revenue Per Monthly Active User, Customer Acquisition Costs, First-Time Depositor, Gross Gaming Revenue, Lifetime Value and Monthly Active