Rush Street Interactive RSI

NYSE · Services-Miscellaneous Amusement & Recreation · $2.9B

$11.90−3.64%Nov 5 close · Databento

Every report since 2023 →

🔒 Click to interact · scroll moves the page

RSI Wire Story Reactions & EOD Technical StudyDaily closes (Databento EOD) pinned with every AlgoThesis Wire story (dot colour = next trading day close) and SEC filing

Nov 5, 2026CLOSE $11.901D −3.64%3M −51.86%SMA20 $15.92SMA50 $20.39RSI(14) 22.0

11.90

RSI (14, Wilder EOD) · 70 Overbought / 30 OversoldRSI 22.0

Data provided by Databento (end of day). Next close = the first close after a story against the close before it; official daily closes only, not a call, not advice.

The numbers

fiscal 2025, as filed with the SEC · 66-metric EOD snapshot via Databento

Market cap$2.9B

EV / True FCF18.7x

Revenue$1.1B +22.8%

True FCF (ex-SBC)$138.0M +55.6%

Rule of 4037.3%

Operating margin7.7%

True FCF Yield4.7%

EPS, diluted$0.31 +933.3%

Modern Valuation (EOD)

Market Cap$2.9B

Enterprise Value$2.6B

EV / True FCF18.67

EV / FCF15.68

EV / Gross Profit—

EV / EBIT29.46

EV / Sales2.27

P / E (GAAP)87.55

P / FCF17.76

P / Oper. CF17.67

P / Book9.61

Owner & Cash Yields

True FCF Yield4.7%

FCF Yield5.6%

Owner Earn. Yield1.6%

Earnings Yield1.1%

Shareholder Yield−0.6%

Buyback Yield0.3%

Dividend Yield—

Dividend / sh—

Payout Ratio—

FCF / sh—

EPS (diluted)$0.31

Compounder & Returns

Rule of 4037.3%

ROIC—

Cash ROIC (CROIC)—

GP / Assets—

ROE11.0%

ROA5.1%

Gross Margin—

Oper. Margin7.7%

Net Margin2.9%

FCF Margin14.5%

True FCF Margin12.2%

Quality & Dilution

Cash Conversion493%

Accrual Ratio−20.0%

SBC % of FCF16.0%

SBC % of Rev2.3%

Reinvest. Rate1%

Sales Growth Y/Y+22.8%

Sales 3Y CAGR+24.2%

EPS Growth Y/Y+933.3%

FCF Growth Y/Y+55.6%

FCF 3Y CAGR—

Share Change Y/Y+167.1%

Balance Sheet & Scale

Revenue (FY)$1.1B

Gross Profit (FY)—

Oper. Income (FY)$87.4M

GAAP Net Income$33.3M

True FCF (ex-SBC)$138.0M

Cash & Equiv$340.5M

Total Debt—

Net Cash (Debt)$340.5M

Net Cash % MCap+11.7%

Debt / FCF (yrs)—

Current Ratio1.93

Price & Technicals (EOD)

Perf Week−12.63%

Perf Month−41.21%

Perf Quarter−52.17%

Perf Half Y−57.35%

Perf YTD−48.19%

SMA 20 Dist−25.24%$15.92

SMA 50 Dist−41.65%$20.39

SMA 100 Dist−52.07%$24.83

Window High−65.53%$34.52

Window Low+4.39%$11.40

RSI (14) · Vol22.075%v

Income Distribution & Cash Flow ConversionHow every dollar of RSI revenue flows through cost of goods, operating expenses, taxes, GAAP net income, and dilution-adjusted free cash flow

Where Every $100 of Revenue Goes (FY2025)

Cost of Revenue (COGS)$741.7M ($65.4 / $100)

Operating Expenses$305.3M ($26.9 / $100)

Tax & Non-Operating$54.1M ($4.8 / $100)

Net Profit Kept$33.3M ($2.9 / $100)

Earnings Quality: GAAP Profit → True Owner Cash (FY2025)

GAAP Net Income$33.3M (2.9% margin)

Operating Cash Flow (OCF)$165.0M(14.5% of rev)

Less: Capital Expenditures−$767,000(0.1% of rev)

Standard Free Cash Flow (FCF)$164.2M(14.5% margin)

Less: Stock-Based Comp (SBC)−$26.3M(16.0% of FCF)

True FCF (Owner Cash ex-SBC)$138.0M(12.2% of rev)

Revenue by fiscal year

Operating leverage — margins

GrossOperatingNet

Line Item (USD)	FY2021	FY2022	FY2023	FY2024	FY2025	YoY Δ	4Y CAGR
Income Statement
Revenue	$488.1M	$592.2M	$691.2M	$924.1M	$1.1B	+22.8%	+23.5%
Cost of Revenue (COGS)	$332.1M	$414.7M	$465.0M	$602.0M	$741.7M	+23.2%	+22.2%
Operating Income (EBIT)	$-94.3M	$-124.8M	$-51.6M	$25.0M	$87.4M	+249.0%	—
Interest Expense	$187,000	$573,000	—	—	$573,000	—	+32.3%
Income Tax Expense	$4.7M	$9.0M	$11.2M	$24.6M	$-85.1M	−446.4%	—
GAAP Net Income	$-19.5M	$-38.6M	$-18.3M	$2.4M	$33.3M	+1294.8%	—
Diluted EPS	$-0.51	$-0.61	$-0.27	$0.03	$0.31	+933.3%	—
Diluted Shares	57.4M	63.5M	68.5M	88.4M	236.1M	+167.1%	+42.4%
Balance Sheet
Cash & Equivalents	$300.3M	$206.1M	$171.0M	$232.8M	$340.5M	+46.3%	+3.2%
Total Current Assets	$341.8M	$264.5M	$228.6M	$285.0M	$406.8M	+42.7%	+4.5%
Total Assets	$408.7M	$350.3M	$318.6M	$379.5M	$658.5M	+73.5%	+12.7%
Total Current Liabilities	$83.9M	$143.9M	$137.7M	$163.1M	$210.3M	+28.9%	+25.8%
Total Liabilities	$101.0M	$159.5M	$152.5M	$181.2M	$355.0M	+96.0%	+36.9%
Stockholders' Equity	$307.7M	$190.9M	$166.1M	$198.3M	$303.5M	+53.0%	−0.3%
Net Cash / (Net Debt)	$300.3M	$206.1M	$171.0M	$232.8M	$340.5M	+46.3%	+3.2%
Invested Capital	$7.4M	$-15.2M	$-4.8M	$-34.4M	$-37.0M	−7.5%	—
Cash Flow & Capital Allocation
Operating Cash Flow (OCF)	$-48.2M	$-60.3M	$-5.9M	$106.4M	$165.0M	+55.0%	—
Depreciation & Amortization (D&A)	$4.2M	$14.3M	$29.8M	$32.2M	$40.0M	+24.1%	+75.2%
Stock-Based Compensation (SBC)	$24.9M	$18.7M	$30.0M	$35.3M	$26.3M	−25.6%	+1.3%
Capital Expenditures (CapEx)	$3.8M	$4.2M	$1.3M	$925,000	$767,000	−17.1%	−33.2%
Free Cash Flow (FCF)	$-52.0M	$-64.5M	$-7.2M	$105.5M	$164.2M	+55.6%	—
True FCF (ex-SBC Owner Cash)	$-76.9M	$-83.2M	$-37.2M	$70.2M	$138.0M	+96.4%	—
Share Repurchases (Buybacks)	$3.5M	$0	$0	$0	$7.6M	—	+21.8%

Fundamentals, income distribution and multi-year statements from SEC EDGAR filings (public domain). Valuation multiples, performance and technicals computed from Databento 1D EOD closes. For information only, not investment advice.

On the Wire

what RSI did at the next close after each story

No Wire story has named RSI yet.

What happened · big days

22 big days in a year, and what we hold on each

A big day is a close more than 5.08% from the one before, three times RSI’s median day (1.69%). On 2 of the 22, its peer group moved the same way at least half as far. We show what we hold. We never name a cause.

every other trading daya big day, numbered in the list below±5.08%Hover a bar for its day. Click a big day to open it.

Shaded: since our stories began, Jun 10. Tap a bar for its day.

#DayRSIWhat we hold that dayGroup (median of 4) · each

1 Jan 29, 2026+6.15%
Before our storiesgroup −0.6%, did not move with it
1Jan 29, 2026+6.15%
Before our stories
−0.6% did not move with itDIS +1.8 · DKNG −0.6 · MTN −1.1
2 Feb 6, 2026+5.37%
Before our storiesgroup +3.5%, moved with RSI
2Feb 6, 2026+5.37%
Before our stories
+3.5% moved with RSIDKNG +4.3 · DIS +3.5 · MTN +1.5
3 Feb 12, 2026−7.08%
Before our storiesgroup −4.3%, moved with RSI
3Feb 12, 2026−7.08%
Before our stories
−4.3% moved with RSIDIS −5.3 · DKNG −4.3 · MTN −2.2
4 Feb 17, 2026+5.68%
Before our storiesgroup +2.5%, did not move with it
4Feb 17, 2026+5.68%
Before our stories
+2.5% did not move with itDKNG +3.8 · MTN +2.5 · DIS −0.0
5 Feb 18, 2026+7.32%
Resultsgroup +2.7%, did not move with it
5Feb 18, 2026+7.32%
ResultsFirst close after the Feb 17 results filing
+2.7% did not move with itMTN +3.1 · DKNG +2.7 · DIS +1.6
6 Apr 29, 2026+16.58%
Resultsgroup −1.1%, did not move with it
6Apr 29, 2026+16.58%
ResultsFirst close after the Apr 28 results filing
−1.1% did not move with itDIS −0.2 · DKNG −1.1 · MTN −3.5
7 May 5, 2026+5.12%
Before our storiesgroup −0.3%, did not move with it
7May 5, 2026+5.12%
Before our stories
−0.3% did not move with itDKNG +2.5 · MTN −0.3 · DIS −0.8
8 Jun 9, 2026+5.55%
Before our storiesgroup +0.5%, did not move with it
8Jun 9, 2026+5.55%
Before our stories
+0.5% did not move with itDKNG +11.3 · DIS +0.5 · MTN −4.3
9 Jul 1, 2026+5.11%
Nothing on RSIgroup +0.1%, did not move with it
9Jul 1, 2026+5.11%
Nothing on RSINo RSI story, brief or results filing in our record that day
+0.1% did not move with itDKNG +2.0 · MTN +0.1 · DIS −0.6
10 Jul 20, 2026+6.22%
Nothing on RSIgroup −1.3%, did not move with it
10Jul 20, 2026+6.22%
Nothing on RSINo RSI story, brief or results filing in our record that day
−1.3% did not move with itMTN −1.2 · DIS −1.3 · DKNG −2.5
11 Jul 22, 2026−7.25%
Nothing on RSIgroup −1.7%, did not move with it
11Jul 22, 2026−7.25%
Nothing on RSINo RSI story, brief or results filing in our record that day
−1.7% did not move with itDKNG −4.3 · MTN −1.7 · DIS −0.3
12 Jul 30, 2026−13.03%
Resultsgroup −3.4%, did not move with it
12Jul 30, 2026−13.03%
ResultsFirst close after the Jul 29 results filing
−3.4% did not move with itMTN −4.5 · DKNG −3.4 · DIS −2.4
13 Aug 5, 2026−8.70%
Nothing on RSIgroup +1.1%, did not move with it
13Aug 5, 2026−8.70%
Nothing on RSINo RSI story, brief or results filing in our record that day
+1.1% did not move with itDKNG −7.8 · MTN +1.1 · DIS +3.6
14 Sep 18, 2026−7.72%
Nothing on RSIgroup −2.5%, did not move with it
14Sep 18, 2026−7.72%
Nothing on RSINo RSI story, brief or results filing in our record that day
−2.5% did not move with itDKNG −3.2 · DIS −2.5 · MTN +1.5
15 Sep 21, 2026−7.42%
Nothing on RSIgroup +1.0%, did not move with it
15Sep 21, 2026−7.42%
Nothing on RSINo RSI story, brief or results filing in our record that day
+1.0% did not move with itMTN +0.5 · DKNG +1.0 · DIS +1.5
16 Oct 9, 2026−6.99%
Nothing on RSIgroup −0.0%, did not move with it
16Oct 9, 2026−6.99%
Nothing on RSINo RSI story, brief or results filing in our record that day
−0.0% did not move with itDKNG −1.5 · MTN −0.0 · DIS +1.0
17 Oct 21, 2026−5.55%
Nothing on RSIgroup +0.1%, did not move with it
17Oct 21, 2026−5.55%
Nothing on RSINo RSI story, brief or results filing in our record that day
+0.1% did not move with itMTN −2.9 · DIS +0.1 · DKNG +0.2
18 Oct 27, 2026−5.46%
Nothing on RSIgroup −0.1%, did not move with it
18Oct 27, 2026−5.46%
Nothing on RSINo RSI story, brief or results filing in our record that day
−0.1% did not move with itDKNG −2.1 · DIS −0.1 · MTN +1.4
19 Oct 29, 2026−9.98%
Resultsgroup +1.9%, did not move with it
19Oct 29, 2026−9.98%
ResultsFirst close after the Oct 28 results filing
+1.9% did not move with itMTN +1.7 · DIS +1.7 · DKNG +2.1 · MSGK +3.3
20 Oct 30, 2026−11.01%
Nothing on RSIgroup +0.5%, did not move with it
20Oct 30, 2026−11.01%
Nothing on RSINo RSI story, brief or results filing in our record that day
+0.5% did not move with itMTN −1.8 · DIS +0.0 · MSGK +0.9 · DKNG +0.9
21 Nov 2, 2026−5.94%
Nothing on RSIgroup +2.0%, did not move with it
21Nov 2, 2026−5.94%
Nothing on RSINo RSI story, brief or results filing in our record that day
+2.0% did not move with itMSGK −0.9 · DIS +2.0 · MTN +2.0 · DKNG +4.3
22 Nov 3, 2026+9.91%
Nothing on RSIgroup +0.8%, did not move with it
22Nov 3, 2026+9.91%
Nothing on RSINo RSI story, brief or results filing in our record that day
+0.8% did not move with itMSGK +1.5 · DIS +0.9 · DKNG +0.6 · MTN −0.9

A story on the same day is not a cause, and a group move is not proof either. Group: the median of DIS, DKNG, MSGK and MTN that day, the largest companies in RSI’s SEC industry; “moved with RSI” means the same direction and at least half the size.

What’s next · results

Before the next report: what the first day after the last four did

Six trading days after each results filing (SEC 8-K, Item 2.02). RSI reports after the close, so day 1 is the next close. Each time, day 6 ended on the same side as day 1.

Reported Feb 17, 2026

day 1+7.32%day 6+12.75%

Reported Apr 28, 2026

day 1+16.58%day 6+16.08%

Reported Jul 29, 2026

day 1−13.03%day 6−18.49%

Reported Oct 28, 2026

day 1−9.98%day 6−21.35%

Next report: expected late January to mid FebruaryEstimated from the dates of its last four results filings. Not announced. Since the Oct 28 report: −21.35%. Four reports is a small sample.

Every report since 2023 →

Each line is RSI’s close against its close before the filing, on licensed end-of-day closes. What happened after each report, not a forecast; a move on the day is not a cause.

Same industry

RSI against four same-industry peers, a year at 100

RSI is down 28.4% in a year. Madison Square Garden Entertainment is up 62.1%, Vail Resorts 7.5%, Disney 7.4% and DraftKings is down 22.6%. All four did more. Weekly closes, Nov 7, 2025 = 100, on a log scale, so the same percentage move is the same height on every line.

Share this chart

RSI −28.4%. Madison Square Garden Entertainment +62.1%, Vail Resorts +7.5%, Disney +7.4%, DraftKings −22.6%. Weekly closes, Nov 7, 2025 = 100, log scale.

Share this chart

End-of-day closes (Databento EOD), the last close of each week. The four peers are the largest US-listed companies by market value in RSI’s SEC industry (Services-Miscellaneous Amusement & Recreation) with a year of closes. It shows what the closes did; a move here is not a cause, a forecast or a call.

The Wire at 7 AM ET, free. Top stories with a bull and a bear case on each, every morning. No account needed.

DIS	Disney	$205.4B	−1.45%
DKNG	DraftKings	$11.5B	+1.77%
MSGK	MSG Knickerbockers	$7.8B	−2.35%
MTN	Vail Resorts	$5.7B	−1.58%
MSGE	Madison Square Garden Entertainment	$3.8B	−4.23%
STUB	StubHub Holdings	$2.1B	−4.70%
BRSL	Brightstar Lottery	$1.9B	−0.99%
GENI	Genius Sports	$1.8B	−15.55%