Company: RSI
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001793659-25-000111
Chunk: 22

Company: Rush Street Interactive, Inc.
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 1
Chunk 22
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 Company has a single performance obligation associated with social gaming services to provide social gaming services to users upon the redemption of virtual credits. Deferred revenue is recorded when users purchase virtual credits and revenue is recognized when the virtual credits are redeemed, and the Company’s performance obligation has been fulfilled.Disaggregation of revenue for the three months ended March 31, 2025 and 2024, was as follows:Three Months EndedMarch 31,($ in thousands)20252024Online casino and online sports betting$260,881 $215,622 Retail sports betting327 708 Social gaming1,199 1,098 Total revenue$262,407 $217,428 Revenue by geographic region for the three months ended March 31, 2025 and 2024, was as follows:Three Months EndedMarch 31,($ in thousands)20252024United States and Canada$224,862 $188,537 Latin America, including Mexico37,545 28,891 Total revenue$262,407 $217,428 Deferred revenue associated with online casino and online sports betting revenue and retail sports betting revenue includes unsettled customer bets and is included within players’ liabilities in the condensed consolidated balance sheets. The deferred revenue balances as of March 31, 2025 and 2024 were as follows:Three Months EndedMarch 31,($ in thousands)20252024Deferred revenue, beginning of period$10,814 $7,013 Deferred revenue, end of period$10,022 $8,275 Revenue recognized during the period from amounts included in deferred revenue at the beginning of the period$9,733 $6,312 

F-11

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

4.Intangible Assets, Net

The Company had the following intangible assets, net as of March 31, 2025 and December 31, 2024:($ in thousands)Weighted-Average Remaining AmortizationPeriod (years)GrossCarryingAmountAccumulatedAmortizationNetLicense FeesMarch 31, 20256.34$55,424 $(24,615)$30,809December 31, 20246.85$52,933 $(22,491)$30,442Internally Developed SoftwareMarch 31, 20252.15$74,852 $(34,907