Rush Street Interactive Reports 10th Straight Quarter of Growth with Strong Q3 Results
Rush Street Interactive (RSI), a leading name in the online gaming and betting industry, has released its financial results for the third quarter ending September 30, 2025. The company announced record-breaking revenue figures that have led to an upward revision of its full-year financial outlook.
RSI Sees Significant Revenue Growth in Q3
For Q3 2025, RSI reported revenue of $277.9 million, a 20% increase from the $232.1 million earned during the same period last year. This milestone sets a new quarterly revenue record for the company, highlighting its strong market position.
Net income also saw a substantial increase, climbing to $14.8 million in Q3 2025 compared to $3.2 million in Q3 2024. This represents a marked improvement in profitability.
The company’s adjusted EBITDA rose sharply to $36 million, up 54% from the $23.4 million reported in the third quarter of the previous year. This growth illustrates the company’s ability to improve earnings efficiently.
RSI managed its expenses prudently, with adjusted sales and marketing costs dropping slightly by 1% to $38.1 million. This means the record revenues were achieved without increasing spending in these areas.
The surge in revenue was driven by a 34% year-on-year increase in total monthly active users across the US and Canada, with a notable 46% growth in iGaming markets, reaching 225,000 users. In Latin America, active users also grew by 30%, totaling 415,000.
Average quarterly spend per active user was $365 in North America, whereas users in Latin America averaged $27 during the quarter.
RSI Upgrades Full-Year Financial Expectations
Encouraged by its Q3 performance, RSI raised its fiscal year 2025 revenue forecast to a range between $1.1 billion and $1.12 billion. If the company hits the midpoint of this estimate, $1.11 billion, it would represent a 20% increase over its 2024 revenues of $924 million.
The adjusted EBITDA forecast was also revised upward to a range of $147 million to $153 million, with a midpoint of $150 million. Achieving this target would mark a remarkable 62% growth compared to the $92.5 million adjusted EBITDA recorded in 2024.
Focus on Long-Term Growth and Player Experience
CEO Richard Schwartz expressed satisfaction with the team’s achievements, attributing the ongoing success to RSI’s commitment to a player-first philosophy and strong expansion in key markets.
Notably, Q3 2025 marks the 10th consecutive quarter in which RSI has experienced sequential revenue growth. Schwartz praised the team’s success in North America and their effectiveness in attracting new users.
“Looking forward, we remain dedicated to our player-first approach, delivering outstanding experiences and driving engagement through innovation. This positions us well for sustained momentum and long-term success,” said Richard Schwartz, CEO of RSI.
This year, RSI adapted to changes in Illinois’ tax regulations by introducing a minimum bet size of $1, enabling the company to adjust to the new environment without imposing additional surcharges like some competitors.
