Company: RSI
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001793659-25-000111
Chunk: 32

Company: Rush Street Interactive, Inc.
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 1
Chunk 32
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rolling interest holders and may be exchanged, subject to certain restrictions, for Class A Common Stock. Upon exchange of an RSILP Unit, a share of Class V Common Stock is cancelled.(2)    RSUs that vested but the resulting shares of Class A Common Stock have not yet been issued.

11.    Segment Reporting

An operating segment is a component of an entity that (i) engages in business activities from which it may earn revenues and incur expenses; (ii) has discrete financial information available; and (iii) is regularly reviewed by the entity’s chief operating decision maker (“CODM”) for purposes of performance assessment and resource allocation.The Company’s CODM is its chief executive officer. The Company manages its operations as a single operating segment that engages in online gaming and retail sports betting business activities. The Company derives its revenues from its gaming offerings such as real-money online casino, online sports betting and retail sports betting (i.e., sports betting services provided at bricks-and-mortar locations), as well as social gaming, which involves free-to-play games using virtual credits that user can earn or purchase. The accounting policies for this segment are consistent with those described in the summary of significant accounting policies. The measure of segment assets is reported on the condensed consolidated balance sheets as total consolidated assets.The Company’s revenue, significant expenses and net income (loss) for its consolidated segment are as follows:Three Months EndedMarch 31,($ in thousands)20252024Revenue$262,407 $217,428 Less:Costs of revenue(1)170,820 144,253 Sales and marketing(1)38,815 37,834 General and administrative(1)19,546 18,283 Interest income(1,935)(2,497)Interest expense236 938 Depreciation and amortization9,491 7,101 Income tax expense5,065 5,300 Other segment items(2)9,158 8,425 Consolidated net income (loss)$11,211 $(2,209)_____________________________________(1)    Excludes share-based compensation expense and tax receivable agreement expense.(2)    Other segment items includes share-based compensation expense and tax receivable agreement expense.

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

12.    Related Parties

Affiliated Land-Based CasinosNeil Bluh