Rush Street Interactive Inc
For the period ended Dec 31, 2023. Filed Mar 7, 2024.
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FY2023 · Filed Mar 7, 2024
RSI$11.97-1.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
(Amounts in thousands)
| December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Cash flows from operating activities | |||
| Net loss | $(60,055) | $(134,332) | $(71,092) |
| Adjustments to reconcile net loss to net cash used in operating activities | |||
| Share-based compensation expense | 30,020 | 18,691 | 24,912 |
| Depreciation and amortization expense | 29,759 | 14,325 | 4,245 |
| Deferred income tax | (255) | (50) | 64 |
| Noncash lease expense | 697 | 616 | 355 |
| Long-lived assets write off | 683 | — | — |
| Change in fair value of earnout interests liability | — | — | 13,740 |
| Change in fair value of warrant liabilities | — | — | (41,802) |
| Changes in assets and liabilities: | |||
| Players’ receivables | 658 | (5,345) | (5,050) |
| Due from affiliates | 2,433 | (7,745) | 605 |
| Prepaid expenses and other current assets | 722 | (3,879) | (4,562) |
| Other assets | (950) | 312 | (1,406) |
| Accounts payable | 1,806 | 23,331 | (5,546) |
| Accrued expenses and other current liabilities | (8,816) | 17,472 | 22,077 |
| Players’ liabilities | (377) | 18,352 | 15,660 |
| Deferred royalty liabilities | (1,525) | (1,416) | (30) |
| Operating lease liabilities | (732) | (653) | (356) |
| Net cash used in operating activities | (5,932) | (60,321) | (48,186) |
| Cash flows from investing activities | |||
| Purchases of property and equipment | (1,291) | (4,157) | (3,847) |
| Acquisition of gaming licenses | (7,279) | (5,484) | (23,535) |
| Internally developed software costs | (22,619) | (16,770) | (4,091) |
| Media content production costs | (765) | — | — |
| Investments in equity securities | (470) | — | (1,500) |
| Short-term investments | (3,061) | — | — |
| Proceeds from (investment in) long-term time deposits | 1,705 | (689) | (748) |
| Acquisition of trademark intangible asset, net of cash acquired | — | (1,890) | — |
| Acquisition of developed technology intangible assets | — | — | (3,281) |
| Net cash used in investing activities | (33,780) | (28,990) | (37,002) |
| Cash flows from financing activities | |||
| Proceeds from shares issued for warrants | — | — | 131,588 |
| Repurchase of common stock | — | — | (3,465) |
| Principal payments of finance lease liabilities | (518) | (1,216) | (2,142) |
| Distributions paid to non-controlling interest holders | — | — | (397) |
| Net cash (used in) provided by financing activities | (518) | (1,216) | 125,584 |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | 5,126 | (3,721) | (2,132) |
| Net change in cash, cash equivalents and restricted cash | (35,104) | (94,248) | 38,264 |
| Cash, cash equivalents and restricted cash, at the beginning of the year | 206,081 | 300,329 | 262,065 |
| Cash, cash equivalents and restricted cash, at the end of the year | $170,977 | $206,081 | $300,329 |
| December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Supplemental disclosure of noncash investing and financing activities: | |||
| Right-of-use assets obtained in exchange for new or modified operating lease liabilities | $210 | $965 | $810 |
| Right-of-use assets obtained in exchange for new or modified finance lease liabilities | 2,423 | 1,124 | 2,547 |
| Non-cash redemption of Private Placement and Working Capital Warrants | — | — | 50,798 |
| Non-cash settlement of Public Warrants | — | — | 77,509 |
| Non-cash settlement of Earnout Interests Liability | — | — | 364,788 |
| Reissuance of treasury stock | — | — | 850 |
| Class A shares issued to acquire developed technology intangible assets | — | — | 2,500 |
| Acquisition of gaming licenses in exchange for future minimum market access fees | — | — | 13,070 |
| Allocation of equity and non-controlling interests upon changes in RSILP ownership | 4,988 | 4,140 | 11,288 |
| Class V Common stock issued to acquire trademark intangible asset | — | 2,400 | — |
| Class A Common stock issued to acquire trademark intangible asset | — | 300 | — |
| Property and equipment purchases in Accounts payable and Accrued Expenses | 212 | (29) | 53 |
| Capitalized intangible assets in Accounts payable and Accrued Expenses | 609 | — | — |
| Supplemental disclosure of cash flow information: | |||
| Cash paid for income taxes | $7,385 | $6,795 | $3,541 |
| Cash paid for interest | 938 | 937 | 123 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.