Revenue growth remains robust at 41.1% year-over-year as of 2026Q1, while the company maintains a stable gross margin profile consistently between 34% and 36%.
| Sales/Revenue | 1.24B | 1.13B | 924.08M | 691.16M | 592.21M | 488.11M | 278.5M | 63.67M | 18.23M |
| Revenue Growth % | 28.2% | 22.76% | 33.7% | 16.71% | 21.33% | 75.26% | 337.43% | 249.32% | - |
| Cost of Goods Sold | 808.98M | 741.66M | 602.04M | 465.01M | 414.66M | 332.14M | 190.87M | 32.89M | 10.71M |
| COGS % of Revenue | - | 65.38% | 65.15% | 67.28% | 70.02% | 68.05% | 68.54% | 51.66% | 58.76% |
| Gross Profit | 433.4M | 392.76M | 322.05M | 226.15M | 177.55M | 155.96M | 87.63M | 30.77M | 7.52M |
| Gross Margin % | 34.88% | 34.62% | 34.85% | 32.72% | 29.98% | 31.95% | 31.46% | 48.34% | 41.24% |
| Gross Profit Growth % | - | 21.96% | 42.41% | 27.37% | 13.84% | 77.98% | 184.74% | 309.39% | - |
| Operating Expenses | 318.13M | 305.34M | 297.74M | 277.76M | 302.35M | 250.24M | 221.05M | 53.1M | 18.21M |
| OpEx % of Revenue | - | 26.92% | 32.22% | 40.19% | 51.05% | 51.27% | 79.37% | 83.4% | 99.91% |
| Selling, General & Admin | 276.92M | 265.37M | 265.54M | 248M | 288.02M | 245.99M | 218.96M | 51.96M | 17.31M |
| SG&A % of Revenue | - | 23.39% | 28.73% | 35.88% | 48.63% | 50.4% | 78.62% | 81.62% | 94.99% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 4M | 39.97M | 32.2M | 29.76M | 14.32M | 4.25M | 2.08M | 1.14M | 0 |
| Operating Income | 115.28M | 87.42M | 24.31M | -51.61M | -124.8M | -94.28M | -133.42M | -22.33M | -10.69M |
| Operating Margin % | 9.28% | 7.71% | 2.63% | -7.47% | -21.07% | -19.32% | -47.91% | -35.07% | -58.67% |
| Operating Income Growth % | - | 259.64% | 147.1% | 58.64% | -32.37% | 29.34% | -497.57% | -108.8% | - |
| EBITDA | 156.49M | 127.39M | 56.51M | -21.85M | -110.47M | -90.03M | -131.34M | -21.19M | -9.79M |
| EBITDA Margin % | 12.6% | 11.23% | 6.12% | -3.16% | -18.65% | -18.45% | -47.16% | -33.28% | -53.74% |
| EBITDA Growth % | 117.5% | 125.43% | 358.61% | 80.22% | -22.7% | 31.45% | -519.87% | -116.31% | - |
| D&A (Non-Cash Add-back) | 41.21M | 39.97M | 32.2M | 29.76M | 14.32M | 4.25M | 2.08M | 1.14M | 898K |
| EBIT | 117.83M | 87.42M | 24.31M | -51.61M | -124.8M | -94.28M | -128.59M | -22.33M | -10.69M |
| Net Interest Income | 10.57M | 9.27M | 7.49M | 2.77M | -573K | -187K | -135K | -123K | 0 |
| Interest Income | 10.57M | 9.27M | 8.45M | 2.77M | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 0 | 0 | 957K | 0 | 573K | 187K | 135K | 123K | 0 |
| Other Income/Expense | -96.86M | -98.5M | 7.49M | 2.77M | -573K | 27.88M | 4.69M | -123K | -42K |
| Pretax Income | 18.42M | -11.08M | 31.8M | -48.85M | -125.37M | -66.4M | -128.73M | -22.45M | -10.73M |
| Pretax Margin % | 1.48% | -0.98% | 3.44% | -7.07% | -21.17% | -13.6% | -46.22% | -35.26% | -58.9% |
| Income Tax | -70.61M | -85.11M | 24.57M | 11.21M | 8.96M | 4.69M | 2.92M | 0 | 0 |
| Effective Tax Rate % | -383.28% | 768.19% | 77.25% | -22.95% | -7.15% | -7.06% | -2.27% | 0% | 0% |
| Net Income | 37.06M | 33.31M | 2.39M | -18.3M | -38.63M | -29.06M | 1.08M | -22.45M | -10.73M |
| Net Margin % | 2.98% | 2.94% | 0.26% | -2.65% | -6.52% | -5.95% | 0.39% | -35.26% | -58.9% |
| Net Income Growth % | 339.4% | 1294.81% | 113.05% | 52.62% | -32.94% | -2788.07% | 104.82% | -109.13% | - |
| Net Income (Continuing) | 89.03M | 74.03M | 7.24M | -60.05M | -134.33M | -71.09M | -131.65M | -22.45M | -10.73M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 159.43M | 156.26M | 119.64M | 112.36M | 134.83M | 222.26M | -205.55M | 0 | 0 |
| EPS (Diluted) | 0.35 | 0.14 | 0.03 | -0.27 | -0.61 | -0.51 | -0.01 | -0.82 | -0.37 |
| EPS Growth % | 350.91% | 418.52% | 110% | 55.74% | -19.61% | -5000% | 98.78% | -121.62% | - |
| EPS (Basic) | - | 0.35 | 0.03 | -0.27 | -0.61 | -0.35 | 0.02 | -0.82 | -0.37 |
| Diluted Shares Outstanding | 106.85M | 236.12M | 88.42M | 68.51M | 63.53M | 57.43M | 52.24M | 28.75M | 28.75M |
| Basic Shares Outstanding | 102.19M | 95.83M | 81.78M | 68.51M | 63.53M | 56.27M | 43.58M | 28.75M | 28.75M |
| Dividend Payout Ratio | - | - | - | - | - | - | 480.3% | - | - |
Regulatory tax rate volatility
According to the most recent quarterly financial data, RSI achieved a 41.1% year-over-year revenue growth rate in 2026Q1, signaling that the company's strategic focus on iGaming and international expansion is successfully capturing market share despite a highly competitive and saturated digital gaming landscape.
The acceleration in top-line growth suggests that the company's proprietary platform is resonating with users, effectively converting marketing spend into active wagering volume. This trend warrants further investigation into whether the growth is driven by new market entries or deeper penetration within existing, high-tax jurisdictions.
As reported in the latest income statement, RSI's operating income reached $42.8 million in 2026Q1, demonstrating significant operating leverage as the company scales its revenue base while maintaining disciplined control over its SG&A expenses relative to the rapid expansion of its gross profit margins.
The ability to grow operating income faster than revenue indicates that the company has moved past its initial heavy investment phase and is now benefiting from fixed-cost absorption. Investors should monitor if this efficiency can be sustained if competitive pressures necessitate a return to more aggressive promotional spending.
Based on the provided financial figures, RSI has maintained a relatively stable gross margin profile, hovering around 34% to 35% over the last ten quarters, which suggests a consistent ability to manage jurisdictional tax burdens and third-party content royalties in a volatile industry environment.
This margin stability appears to be a result of a balanced product mix and disciplined promotional activity, distinguishing the firm from peers who often sacrifice margins for rapid top-line growth. However, the structural cap imposed by state-level gaming taxes remains a primary constraint on further margin expansion.
Financial statements indicate that RSI has successfully transitioned to consistent net profitability, with net income reaching $9.1 million in 2026Q1, a notable improvement from the losses observed in early 2024, suggesting that the underlying business model is now generating genuine, sustainable bottom-line value.
The reduction in volatility of net income, coupled with the moderation of stock-based compensation impacts, suggests a maturing financial profile that is less reliant on external capital. Analysts should continue to scrutinize the tax rate and non-operating items to ensure that this profitability remains rooted in core operational performance.
While the company shows strong growth, the potential for increased gaming taxes in key markets like Illinois, as noted in recent industry context, poses a significant risk that could compress margins and challenge the current narrative of sustained, profitable expansion for the firm.
Short-term margin gains may be vulnerable to legislative shifts that prioritize state budget needs over operator profitability. Investors should remain cautious, as any sudden increase in tax rates could force a downward revision of long-term earnings expectations regardless of current operational success.
Quick answers to the most common questions about buying RSI stock.
For fiscal year 2025, Rush Street Interactive, Inc. (RSI) reported total revenue of $1.13B. This represents a 6124.2% increase compared to $18.2M in 2018.
Rush Street Interactive, Inc. (RSI) is profitable, generating $33.3M in net income for the fiscal year ending 2025 with a net profit margin of 2.9%.
Rush Street Interactive, Inc. (RSI) reported an operating income of $87.4M, resulting in an operating profit margin of 7.7%. This margin reflects the operational efficiency of the business before interest and taxes.
Rush Street Interactive, Inc. (RSI) generated $392.8M in gross profit for the year, representing a gross profit margin of 34.6%. This demonstrates the company's core pricing power and production efficiency.