Rush Street Interactive (RSI) Q3 2026 earnings summary

Executive summary

• Q3 revenue was $385.851 million, up 39% YoY; net income was $28.672 million, up 93%, and Adjusted EBITDA was $62.216 million, up 73%.

• Record North American MAUs and strong Latin American growth accompanied continued investment in marketing and operating leverage.

Financial highlights

• Q3 operating income was $42.653 million versus $19.468 million; nine-month revenue was $1,149.988 million versus $809.535 million.

• Nine-month Adjusted EBITDA was $187.032 million versus $109.510 million; nine-month net income was $84.2 million versus $54.9 million.

• Q3 gross margin was 36.4%, up 240 bps YoY and over 90 bps QoQ.

• Q3 net income attributable to shareholders was $11.8 million versus $6.1 million; diluted EPS was $0.10 versus $0.06.

• Nine-month operating cash flow was $143.334 million versus $95.915 million.

Outlook and guidance

• FY26 revenue guidance was reiterated at $1.56 billion-$1.60 billion, implying 38%-41% YoY growth; October trends pointed toward the low end.

• FY26 Adjusted EBITDA guidance remained $245 million-$265 million, implying 59%-72% YoY growth; October trends pointed near the midpoint.

• Guidance assumes current operating jurisdictions and similar tax structures, including Colombia’s temporary 16% emergency tax through year-end 2026.

• For 2027, marketing spend growth is expected to be lower than in 2026, with operating leverage over marketing costs and North American growth relying more on player counts than average player value.

• Management expects gross margin improvement and continued operating leverage in 2027, alongside investment in G&A and growth initiatives.