Company: RSI
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0001793659-25-000168
Chunk: 37

Company: Rush Street Interactive, Inc.
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 1
Chunk 37
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 earnings, management has determined that it is more likely than not that the Company will be able to utilize its deferred tax assets subject to the TRA. As of June 30, 2025 and December 31, 2024, the Company recognized a TRA liability of $113.8 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 December 31, 2024 was $104.3 million. The recognition of the TRA liability resulted in tax receivable agreement expense of $112.7 million and $113.0 million during the three and six months ended June 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 (Loss) Per Share

The basic and diluted earnings (loss) per share for the three and six months ended June 30, 2025 and 2024 were as follows (amounts in thousands, except for share and per share amounts):Three Months EndedJune 30,Six Months EndedJune 30,2025202420252024Numerator:Net income (loss)$28,830 $(282)$40,041 $(2,491)Less: Net income (loss) attributable to non-controlling interests12,142 (182)18,034 (1,664)Net income (loss) attributable to Rush Street Interactive, Inc. – basic$16,688 $(100)$22,007 $(827)Effect of dilutive securities:Increase to net income attributable to non-controlling interests12,142 — 18,034 — Net income (loss) attributable to Rush Street Interactive, Inc. – diluted$28,830 $(100)$40,041 $(827)Denominator:Weighted-average common shares outstanding – basic95,053,473 80,049,123 94,455,413 78,038,275 Adjustments:Conversion of Weighted Average RSILP units to Class A Common Shares133,294,736 — 133,677,803 — Incremental shares from assumed conversion of stock options and