Company: RSI
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0001793659-25-000047
Chunk: 213

Company: Rush Street Interactive, Inc.
Filing Date: 2025-02-28
Form: 10-K
Item: Item 7
Chunk 213
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 significant benefit to having a flexible approach to advertising spending as we can quickly redirect our advertising spending based on dynamic testing of our advertising methods and channels.

General and Administrative. General and administrative expenses consist primarily of administrative personnel costs, including salaries, bonuses and benefits, share-based compensation expense for dedicated personnel, professional fees related to legal, compliance, audit and consulting services, rent, insurance costs, technology and foreign exchange gains or losses. 

Depreciation and Amortization. Depreciation and amortization expense consists of depreciation on our property and equipment and amortization of intangible assets (including market access licenses, gaming jurisdictional licenses, internally developed software, trademark, developed technology and other intangibles) and finance lease right-of-use assets over their useful lives. See Notes 2, 4, 5 and 13 to our consolidated financial statements, included elsewhere in this Annual Report.

Results of Operations

The following table sets forth a summary of our consolidated results of operations for the years indicated, and the changes between periods. We have derived this data from our consolidated financial statements included elsewhere in this Annual Report. This information should be read in conjunction with our consolidated financial statements and related notes 

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included elsewhere in this Annual Report. The results of historical periods are not necessarily indicative of the results of operations for any future period.

Comparison of the Years Ended December 31, 2024 and 2023

Years Ended December 31,Change($ in thousands)20242023$%Revenue$924,083 $691,161 $232,922 34 %Costs of revenue602,036 465,014 137,022 29 %Advertising and promotions158,590 160,650 (2,060)(1)%General and administrative106,945 87,349 19,596 22 %Depreciation and amortization32,203 29,759 2,444 8 %Income (loss) from operations24,309 (51,611)75,920 147 %Interest income, net7,493 2,765 4,728 171 %Income (loss) before income taxes31,802 (48,846)80,648 165 %Income tax expense24,566 11,209 13,357 119 %Net income (loss)$7,236 $(60,055)$67,291 112 %

Revenue. Revenue increased by $232.9 million, or