Bitcoin RSI 'nearly perfectly' copying end of 2022 bear market: Analysis

Rush Street Interactive Inc (RSI) posted Q2 2025 earnings of $0.11 per share, surpassing forecasts by 83.33%. Revenue came in at $269 million, a 22% increase year-over-year. Adjusted EBITDA reached a record $40.2 million, up 88% compared to the previous year.

The company also raised its 2025 revenue guidance to a range of $1.05 billion to $1.1 billion, projecting 16% growth YoY. It also expects adjusted EBITDA to range between $133 million to $147 million, reflecting a 51% growth. These results indicate a strong performance driven by the iCasino market.

RSI's stock price rose 2.75% after-hours to $15.95 following the earnings report. Institutional investors, including JPMorgan Chase & Co., have increased their stakes in RSI, indicating growing confidence in the company's financial performance.

Why Did Institutional Investors Increase Their Holdings?

JPMorgan Chase & Co. raised its stake in RSI by 57.0% in the third quarter, according to the latest SEC disclosure. The institutional investor now owns 213,943 shares of the company's stock, valued at $4,382,000. This reflects broader institutional interest in RSI.

Other hedge funds and institutional investors also recently modified their holdings. For example, Osaic Holdings Inc. increased its stake in RSI by 62.2% in the second quarter, and Pacer Advisors Inc. increased its stake by 57.2% in the third quarter.

What Are the Growth Drivers for Rush Street Interactive?

Rush Street Interactive's strong performance is being driven by its iCasino market operations. The company has outlined plans to expand into new regions, including Alberta by 2026, and to focus on Latin American expansion as a key growth driver.

The CEO emphasized the strong growth in iCasino and the importance of new market launches. This strategy supports the company's broader financial goals, including reaching adjusted EBITDA of $133 million to $147 million for the year.

How Did the Stock React After the Earnings Report?

Following the release of its Q2 2025 earnings, RSI's stock rose 2.75% after-hours to $15.95. This positive reaction was driven by the company's beat on earnings and revenue expectations. Additionally, the strong iCasino performance and clear growth strategy reinforced investor confidence.

The stock's after-hours performance suggests continued interest in RSI as an investment. The company's projected 2025 revenue growth of 16% and adjusted EBITDA growth of 51% also support this optimism.