Company: RSI
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0001793659-25-000168
Chunk: 51

Company: Rush Street Interactive, Inc.
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 1
Chunk 51
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 $4.2 million and $4.2 million, respectively, to the period-over-period increase in costs of revenue. Personnel costs contributed to the remainder of the period-over-period increase. Costs of revenue as a percentage of revenue decreased to 65% for the three months ended June 30, 2025 as compared to 66% for the same period in 2024.

Sales and Marketing. Sales and marketing expense increased by $0.2 million, or 1%, to $37.1 million for the three months ended June 30, 2025 as compared to $36.9 million for the same period in 2024. The increase was primarily driven by higher marketing personnel costs and share-based compensation expense, which was partially offset by reduced marketing spend resulting from management’s strategy to rationalize marketing spend as the North American and Latin American online gaming industries continue to mature. Sales and marketing expense as a percentage of revenue decreased to 14% for the three months ended June 30, 2025 as compared to 17% for the same period in 2024.

General and Administrative. General and administrative expense decreased by $3.4 million, or 13%, to $23.8 million for the three months ended June 30, 2025 as compared to $27.2 million for the same period in 2024. The decrease was primarily due to lower share-based compensation expense and other administrative costs. General and administrative expense as a percentage of revenue decreased to 9% for the three months ended June 30, 2025 as compared to 12% for the same period in 2024.

Depreciation and Amortization. Depreciation and amortization expense increased by $2.3 million, or 30%, to $9.8 million for the three months ended June 30, 2025 as compared to $7.6 million for the same period in 2024. The increase was mainly due to additional costs to acquire internally developed software and other definite-lived intangible assets. Depreciation and amortization expense as a percentage of revenue increased to 4% for the three months ended June 30, 2025 as compared to 3% for the same period in 2024.

Tax Receivable Agreement Expense. Tax receivable agreement expenses increased by $112.7 million for the three months ended June 30, 2025 as compared to nil for the same period in 2024. The