Company: RSI
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001793659-25-000193
Chunk: 58

Company: Rush Street Interactive, Inc.
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 1
Chunk 58
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 likelihood of future claims is expected to be remote.

Debt and Letters of Credit

As of September 30, 2025 and December 31, 2024, we had no outstanding debt. 

As of September 30, 2025 and December 31, 2024, we had an outstanding letter of credit for $6.0 million and $4.3 million, respectively, in connection with our operations in Colombia, for which no amounts had been drawn. 

Stock Repurchase Program

On October 24, 2024, our Board of Directors authorized the repurchase of an aggregate of up to $50 million of our Class A Common Stock through open market purchases, privately negotiated transactions or other transactions in accordance with applicable securities laws.

During the three and nine months ended September 30, 2025, we repurchased nil and 733,019 shares, respectively, of Class A Common Stock pursuant to the Stock Repurchase Program. The aggregate purchase price was approximately $7.6 million during the nine months ended September 30, 2025 at average prices of $10.41. 

Cash Flows

The following table shows our cash flows from operating activities, investing activities and financing activities for the nine months ended September 30, 2025 and 2024:

Nine Months EndedSeptember 30,($ in thousands)20252024Net cash provided by operating activities$95,915 $80,553 Net cash used in investing activities(28,867)(26,215)Net cash used in financing activities(34,403)(682)Effect of exchange rate changes on cash, cash equivalents and restricted cash12,152 (4,274)Net change in cash, cash equivalents and restricted cash$44,797 $49,382 

Operating activities. Net cash provided by operating activities for the nine months ended September 30, 2025 increased by $15.4 million to $95.9 million, as compared to $80.5 million during the same period in 2024. The increase was primarily brought by higher period-over-period net income totaling $54.1 million, which was partially offset by changes in operating assets and liabilities of $31.3 million and decreased non-cash expenses of $7.4 million. The decrease in non-cash expenses was driven primarily by deferred income tax benefit and decrease in share-based compensation expense totaling $121.6 million and $5.3 million, respectively, which was partially offset by