Rush Street Interactive, Inc. · NYSE:RSI
Rush Street Interactive — Q4 2022 Earnings Presentation
27 slides from Rush Street Interactive's earnings presentation, Mar 1, 2023
Slide 1: Investor Presentation March 2023
Investor Presentation March 2023
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, financial
Slide 3: Company Highlights
Company Highlights Financial Highlights Business Highlights Grew revenue sequentially and up 27% Y‐o‐Y to a BetRivers live with online sportsbook in Maryland in 1 record $166MM in 4Q22 1 November and in Ohio on New Year’s Day 2023 Revenue growth of 95% in Latin America and North Enhanced technology
Slide 4: The State of Play
The State of Play Markets Online Casino Online Sports Betting Retail Sports Betting Domestic: Market Market Opportunities Opportunities Arizona Market access partner of choice Colorado Connecticut Illinois Demonstrated record of success Indiana obtaining market access, with Iow
Slide 5: Growing Latin American Presence
Growing Latin American Presence Current Countries Colombia Mexico • Launched RushBet OSB in June 2018, followed • Launched online sportsbook and casino in June in by iCasino in May 2019 conjunction with our partner Grupo Multimedios • Access to population of over 50 million • Access to population of
Slide 6: Proprietary Platform and Differentiation
Proprietary Platform and Differentiation RSI’s proprietary platform has allowed it to establish a market leading position via its speed to market and differentiated user experience Online Platform Quick Deposits & Withdrawals RSI has developed a sophisticated customer facing platform Our self‐develo
Slide 7: Online Casino Differentiation
Online Casino Differentiation Frequently first to market with new content and the RSI platform offers one of the Breadth & Depth of Content largest game libraries in the industry Premium Games Live Dealers, progressive jackpots & exclusive content Bonusing Engine Real‐time algorithmic bonusing impro
Slide 8: Exclusive Differentiated Retention Tools for Casino Players
Exclusive Differentiated Retention Tools for Casino Players CUSTOMER ACQUISITION IS IMPORTANT FOR GROWTH BUT RETENTION IS KEY TO PROFITABILITY Our exclusive and internally‐developed seasonal promo games keep our customers excited, engaged and entertained. During the holiday season, we offered an exc
Slide 9: Exclusive Differentiated Retention and Revenue Tools for Sportsbook Bettors
Exclusive Differentiated Retention and Revenue Tools for Sportsbook Bettors BASKETBALL SQUARES PROMO GAME EXTENDS SUCCESSFUL ENGAGEMENT TOOL TO NEXT SPORTS SEASON Building on the successful results from football season, we have continued to innovate on our proprietary Squares/Box Pool game to engage
Slide 10: Online Casino: Well-Rounded Demographics and Strong Economics
Online Casino: Well‐Rounded Demographics and Strong Economics1 Demographics Better Monetization Well Positioned Online casino customers skew more towards The average online sports Online casino has generated more female and are typically older than online betting and casino revenue than online sport
Slide 11: Team Partnerships and Recent Highlights
Team Partnerships and Recent Highlights Partnerships are formed across platforms to create marketing synergies, activations, and maximize value Expanded existing partnership to include incremental marketing assets and the development of a courtside BetRivers betting and guest lounge Extended our exc
Slide 12: BetRivers Network – Media Production
BetRivers Network – Media Production RSI’s in‐house media outlet produces custom audio and visual content for bettors Creating custom betting content, including sports news, trending odds and tips, and local team/player insights BetRivers Network sports media personalities such as Mike Francesca (NY
Slide 13: Efficient Promotional Programs
Efficient Promotional Programs 3Q22 US Promotional Credits as a % of Gross Revenue 33.7% 22.2% Largest 4 Competitors 1 TTM US Promotional Credits as a % of Gross Revenue 37.1% 26.2% Largest 4 Competitors 1 13 1. Source: Estimates based on state reported data, publicly available data, analyst reports
Slide 14: Strong Player Value & Retention
Strong Player Value & Retention Increasing player value over time – Over $6k per player for older cohorts1 Strong retention and new markets expected to drive continued revenue growth Avg LTV for All US & Ontario Cohorts Since Quarterly Net Revenue by Yearly Cohort ($MM) 2 Inception1 Launches WV(s) $
Slide 15: Customer Feedback & App Ratings
Customer Feedback & App Ratings “Simply marvelous. I think it’s a very good “I couldn't believe at how fast I was able to App and I was waiting for it because now I deposit and verify my account. The process of “Excellent App. Very log in in using fingerprint. It's superb, I sending documents is ver
Slide 16: Strong US & Canadian Growth
Strong US & Canadian Growth RSI has consistently grown its user base while simultaneously growing revenue per user Average Revenue Per Monthly Active User (“ARPMAU”) MAUs grew 22% in 4Q22 over 4Q211 $345 $327 $325 ARPMAU of $327 during 4Q22 was flat compared to $265 4Q211 RSI’s focus on constantly i
Slide 17: Financial Overview
USH I N T E R A C T I Financial Overview Bee fe SUGAR omen RUSH Giga re fo HOUSE stu etal dts NTERACTI : rsosnanousacen
Slide 18: Recent Performance
Recent Performance RSI has generated record levels of revenue for 15 consecutive quarters Total revenue grew sequentially from 3Q22 to 4Q22 Initiated FY23 revenue guidance of $630MM – $700MM RSI Consolidated Revenue, 2Q19 – 4Q22 Revenue (amount in USD millions) Growth Rate CAGR (2Q19 to 4Q22) 165.5
Slide 19: Statements of Operations
Statements of Operations Three Months Ended Twelve Months Ended Amounts in USD $000’s (except for shares and per share data) December 31, December 31, 2022 2021 2022 2021 (UNAUDITED) (UNAUDITED) Revenue 164,534 130,565 592,212 488,105 Operating costs and expenses Costs of revenue 106,603 86,477 414,
Slide 20: Statements of Comprehensive Loss
Statements of Comprehensive Loss Amounts in USD $000's Three Months Ended Twelve Months Ended December 31, December 31, 2022 2021 2022 2021 (Unaudited) (Unaudited) Net loss $ (31,059) $ (38,123) $ (134,332) $ (71,092) Other comprehensive loss Foreign currency translation adjustment (2,109) (1,051) (
Slide 21: Appendix
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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 Loss, Adjusted Net Loss Per Share and Adjusted Weighted Average Common Shares Outstanding, each of which is defined below: Adjust
Slide 23: Non-GAAP Measures: Adjusted EBITDA
Non‐GAAP Measures: Adjusted EBITDA Amounts in USD $000's Three Months Ended Twelve Months Ended December 31, December 31, 2022 2021 2022 2021 (Unaudited) (Unaudited) (Unaudited) (Unaudited) Net loss $ (31,059) $ (38,123) $ (134,332) $ (71,092) (‐/+) Interest (income) expense, net (91) 146 573 187 (+
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 Twelve Months Ended December 31, December 31, 2022 2021 2022 2021 (Unaudited) (Unaudited) (Unaudited) (Unaudited) GAAP operating costs and expenses: Costs of revenue $ 106,603 $ 86,477 $ 414,664 $ 332,1
Slide 25: Non-GAAP measures: Adjusted Net Loss and Adjusted Net Loss Per Share
Non‐GAAP measures: Adjusted Net Loss; Adjusted Weighted Average Common Shares Outstanding; Adjusted Net Loss Per Share Amounts in USD $000's ( except for shares and per share data) Three Months Ended Twelve Months Ended December 31, December 31, 2022 2021 2022 2021 Adjusted net loss: Net loss attrib
Slide 26: Capitalization
Capitalization Common Stock Type of Outstanding Equity as of December 31, 2022 Outstanding Class V Common Stock 155,955,584 Class A Common Stock 65,111,616 Total Outstanding 221,067,200 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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