Company: RSI
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0001793659-25-000047
Chunk: 32

Company: Rush Street Interactive, Inc.
Filing Date: 2025-02-28
Form: 10-K
Item: Item 15
Chunk 32
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start Our Business Startups Act of 2012 (the “JOBS Act”). However, based on the market value of the Company’s Class A Common Stock held by non-affiliates as of June 28, 2024 (the last business day of the most recently completed second fiscal quarter), the Company became a large-accelerated filer and thus ceased to qualify as an EGC as of December 31, 2024. As a result, the Company is now required to adopt new or revised accounting standards as required for public companies, including those standards which the Company had previously deferred pursuant to the JOBS Act. Additionally, the Company is no longer able to take advantage of the reduced regulatory and reporting requirements of EGCs.ReclassificationsCertain prior year amounts have been reclassified to conform to the current year presentation. Such reclassifications had no impact on the Company’s reported total revenues, expenses, net loss, current assets, total assets, current liabilities, total liabilities, stockholders’ equity, non-controlling interests or cash flows. No reclassifications of prior period balances were material to the consolidated financial statements.Liquidity and Capital ResourcesThe Company currently expects that its cash and positive operating cash flows will be sufficient to fund its operating expenses and capital expenditure requirements for at least 12 months from the date of issuance of this report based on future spend assumptions. The Company generated cash inflows from operations of $106.4 million for the year ended December 31, 2024, and experienced cash outflows from operations of $5.9 million and $60.3 million for the years ended December 31, 2023 and 2022, respectively. The Company had working capital totaling $121.9 million as of December 31, 2024.

F-12

Table of ContentsRUSH STREET INTERACTIVE, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Use of EstimatesThe preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates. Significant estimates and assumptions reflected in the consolidated financial statements relate to and include, but are not limited to, the valuation of share-based awards and acquired intangibles; internally developed software; long-lived assets and investments in equity; the estimated useful lives