Rush Street Interactive(RSI) - 2023 Q4 - Annual Results

Revenue Performance - Q4 2023 revenue was $193.9 million, a 17% increase compared to$ 165.5 million in Q4 2022[5] - Full year 2023 revenue reached $691.2 million, up 17% from$ 592.2 million in 2022[5] - Revenue for Q4 2023 increased to $193.851 million, up 17.1% from$ 165.534 million in Q4 2022[24] - Full-year revenue for 2023 reached $691.161 million, a 16.7% increase from$ 592.212 million in 2022[24] - Latin America revenue increased over 50% for the full year 2023[5] Net Loss and Profitability - Q4 2023 net loss was $5.5 million, significantly improved from a net loss of$ 31.1 million in Q4 2022[5] - Full year 2023 net loss was $60.1 million, compared to a net loss of$ 134.3 million in 2022[5] - Net loss for Q4 2023 improved to $5.455 million, compared to a net loss of$ 31.059 million in Q4 2022[24] - Comprehensive loss attributable to Rush Street Interactive, Inc. for Q4 2023 was $1.140 million, improved from$ 9.604 million in Q4 2022[27] Adjusted EBITDA - Q4 2023 Adjusted EBITDA was $11.5 million, a$ 28.8 million improvement from an Adjusted EBITDA loss of $17.3 million in Q4 2022[5] - Adjusted EBITDA for Q4 2023 was$ 11.513 million, a significant improvement from a loss of $17.316 million in Q4 2022[29] User Metrics - Monthly Active Users (MAUs) in the U.S. and Canada were approximately 160,000, up 7% year-over-year, while MAUs in Latin America reached 204,000, up 33% year-over-year[5] - Average Revenue per Monthly Active User (ARPMAU) in the U.S. and Canada was$ 345, up 5% year-over-year, and $42 in Latin America, up 28% year-over-year[5] Financial Guidance - Full year 2024 revenue guidance is projected between$ 770 million and $830 million, representing 16% year-over-year growth at the midpoint[11] - Full year 2024 Adjusted EBITDA guidance is expected to be between$ 35 million and $45 million, reflecting over 390% year-over-year growth at the midpoint[11] Expenses and Compensation - Advertising and promotions expenses decreased to$ 35.125 million in Q4 2023, down 44.8% from $63.666 million in Q4 2022[24] - Share-based compensation expense for Q4 2023 was$ 7.425 million, up 9.4% from $6.790 million in Q4 2022[29] Adjusted Net Income and Earnings Per Share - Adjusted net income for Q4 2023 was$ 1.970 million, compared to an adjusted net loss of $24.269 million in Q4 2022[33] - Adjusted earnings per share for Q4 2023 was$ 0.01, compared to an adjusted loss per share of $0.11 in Q4 2022[33] Share Metrics - Weighted average common shares outstanding increased to 71.601 million in Q4 2023, up 11.4% from 64.273 million in Q4 2022[24]