Rush Street Interactive, Inc. RSI shares are surging today after the company reported better-than-expected fourth-quarter financial results and issued 2024 revenue guidance above estimates.
Revenue of $193.85 million (+17% Y/Y) came above the estimates of $178.83 million.
Adjusted EBITDA came in at $11.5 million vs. a loss of $(17.3) million prior year quarter.
Monthly Active Users (MAU) in the U.S. and Canada rose 7% Y/Y to 160,000, and Latin America (including Mexico) grew 33% Y/Y to 204,000.
Average Revenue per Monthly Active User (ARPMAU) in the U.S. and Canada was up 5% Y/Y to $345, and in Latin America was $42 (up 28% Y/Y).
Adjusted EPS of $0.01 beat the consensus for EPS loss of $0.03.
As of December 31, 2023, the company had unrestricted cash and cash equivalents of $168 million.
Related: Rush Street Interactive Analysts Raise Their Forecasts After Upbeat Results
Outlook: Rush Street sees 2024 revenue of $770 million-$830 million, versus estimates of $759.25 million.
The company expects adjusted EBITDA of $35 million-$45 million for FY24.
Richard Schwartz, Chief Executive Officer, said, “These results and the ensuing momentum have carried into strong guidance for the new year, reflecting our longstanding customer-centric principles and obsession with developing innovative and differentiated user experiences.”
Price Action: RSI shares are up 12% at $6.04 on the last check Thursday.
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