Company: RSI
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001793659-25-000193
Chunk: 37

Company: Rush Street Interactive, Inc.
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 1
Chunk 37
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 tax assets subject to the TRA. As of September 30, 2025 and December 31, 2024, the Company recognized a TRA liability of $124.0 million (including $1.1 million classified as current liability) and $0.7 million, respectively, based on tax benefits realized in the current and prior tax year. Additional unrecognized TRA liability as of September 30, 2025 and December 31, 2024 was nil and $104.3 million, respectively. The recognition of the TRA liability resulted in tax receivable agreement expense of nil and $113.0 million during the three and nine months ended September 30, 2025, respectively. The increase in the liability is primarily due to the issuance of Class A Common Stock upon RSILP Unit exchanges.

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Table of ContentsRUSH STREET INTERACTIVE, INC.NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

10.    Earnings Per Share

The basic and diluted earnings per share for the three and nine months ended September 30, 2025 and 2024 were as follows (amounts in thousands, except for share and per share amounts):Three Months EndedSeptember 30,Nine Months EndedSeptember 30,2025202420252024Numerator:Net income$14,846 $3,239 $54,887 $748 Less: Net income attributable to non-controlling interests8,791 2,049 26,825 385 Net income attributable to Rush Street Interactive, Inc. – basic$6,055 $1,190 $28,062 $363 Effect of dilutive securities:Increase to net income attributable to non-controlling interests8,791 2,049 26,825 385 Net income attributable to Rush Street Interactive, Inc. – diluted$14,846 $3,239 $54,887 $748 Denominator:Weighted-average common shares outstanding – basic96,223,133 82,847,325 95,051,128 79,652,992 Adjustments:Conversion of Weighted Average RSILP units to Class A Common Shares132,280,716 142,687,546 133,206,990 144,940,579 Incremental shares from assumed conversion of stock options and restricted stock units7,869,982 7,583,799 6