Rush Street Interactive, Inc. Q2 2026 Earnings Recap

Shares dropped 12.8% following the earnings report as disappointing forward-looking signals emerged despite solid top-line growth, with cautious remarks on regulatory uncertainties and no upward revision to full-year guidance weighing on investor sentiment.

Key Takeaways

• Revenue grew 46% year over year to $394 million, driven primarily by online casino, which accounted for 72% of total revenue.
• Adjusted EBITDA increased 61% year over year to $64.6 million, reflecting operational leverage.
• Monthly active users grew 51% in North America and 62% in Latin America, with World Cup-related user engagement particularly strong in Latin America (+80% MAUs post-World Cup).
• Highest sports hold ever recorded in Colombia and North America during Q2, boosted by the World Cup and NBA playoffs.
• Management maintained full-year guidance assuming a 16% GGR tax in Colombia, signaling no easing of regulatory headwinds; uncertainty around tax and budgetary reviews clouds outlook.