Revenue growth of 39% YoY is strong, but the slight revenue miss versus consensus and the EPS miss (GAAP $0.10 vs $0.13 consensus) may weigh on the stock near-term. The activist presence (Neil Bluhm SC 13D/A) adds pressure for operational improvements or strategic alternatives. Watch for any activist-driven changes or capital allocation shifts.
Price Chart
Executive Summary
Rush Street Interactive reported Q3 2026 revenue of $385.9M, up 39% YoY, and net income of $28.7M, up 93% YoY. Adjusted EBITDA was $62.2M, up 73% YoY. The company reiterated full-year 2026 revenue guidance of $1.56B-$1.60B and Adjusted EBITDA guidance of $245M-$265M. Results were strong but slightly below consensus revenue estimates, and the company faces activist investor scrutiny from a recent SC 13D/A filing.
Key Financial Metrics
Key Facts
- Q3 2026 revenue of $385.9M, up 39% YoY from $277.9M
- Q3 2026 net income of $28.7M, up 93% YoY from $14.8M
- Q3 2026 Adjusted EBITDA of $62.2M, up 73% YoY from $36.0M
- Monthly Active Users (MAU) totaled 907,881, up 42% YoY
- North America MAU reached a record 300,572, up 34% YoY
- Latin America MAU was 607,308, up 46% YoY
- Full-year 2026 revenue guidance reiterated at $1.56B-$1.60B (38%-41% YoY growth)
- Full-year 2026 Adjusted EBITDA guidance reiterated at $245M-$265M (59%-72% YoY growth)
- GAAP diluted EPS attributable to RSI was $0.10, up from $0.06 in Q3 2025
- Adjusted EPS was $0.15, up from $0.09 in Q3 2025
- Activist investor Neil Bluhm filed a Schedule 13D/A on August 4, 2026, indicating activist pressure
Financial Impact
Revenue $385.9M vs consensus $388.0M (slight miss); GAAP EPS $0.10 vs consensus $0.13 (miss); Adjusted EBITDA $62.2M, up 73% YoY
Segment Breakdown
| Segment |
|---|
| North America |
| Latin America |
Risk Factors
- Revenue and EPS missed consensus estimates, which could lead to negative market reaction
- Activist investor Neil Bluhm filed a Schedule 13D/A in August 2026, potentially pushing for strategic changes
- Full-year guidance was reiterated, not raised, despite strong Q3 results, suggesting caution on H2 2026
- Competition in online gaming and sports betting remains intense, particularly in North America
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001793659-26-000050 |
| Document: 0001793659-26-000050-index.html | 0001793659-26-000050 |
| Document: 0001793659-26-000050.txt | 0001793659-26-000050 |
| 8-K Data (Synthetic) | 0001793659-26-000050 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 28, 2026 2d ago | 8-K | No price | awaiting T+5 | awaiting T+5 | No price |
Oct 28, 2026 2d ago | Press Release | $13.62 | awaiting T+5 | awaiting T+5 | $12.12 (−11.01%) |
Oct 5, 2026 25d ago | Insider Cluster | $20.56 $19.07 | ▲ +7.25% | ▲ +7.11% | $12.12 (+41.05%) |
Oct 5, 2026 25d ago | 144 | $20.99 $18.71 | ▼ −10.86% | ▼ −11.28% | $12.12 (−42.26%) |
Sep 3, 2026 8w ago | Insider Cluster | $26.68 $26.22 | ▼ −1.72% | ▼ −0.52% | $12.12 (−54.57%) |
Sep 3, 2026 8w ago | 144 | $26.77 $26.43 | ▼ −1.27% | ▼ −0.12% | $12.12 (−54.73%) |
Aug 5, 2026 12w ago | Insider Cluster | $25.08 $24.61 | ▼ −1.87% | ▼ −3.09% | $12.12 (−51.67%) |
Jul 8, 2026 16w ago | Insider Cluster | $32.63 $32.80 | ▲ +0.52% | ▲ +0.65% | $12.12 (−62.86%) |
Jul 8, 2026 16w ago | Press Release | $32.63 $32.80 | ▲ +0.52% | ▲ +0.65% | $12.12 (−62.86%) |
Jul 6, 2026 16w ago | 144 | $32.22 $33.40 | ▲ +3.66% | ▲ +3.17% | $12.12 (−62.38%) |
US Market Status
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