2022 Q2 Form 10-Q Financial Statement

#000179365922000053 Filed on August 05, 2022

View on sec.gov

Income Statement

Concept 2022 Q2 2021 Q4 2021 Q2
Revenue $143.7M $130.6M $122.8M
YoY Change 17.05% 30.57% 88.81%
Cost Of Revenue $104.9M $86.48M $84.76M
YoY Change 23.74% 19.94%
Gross Profit $38.85M $44.09M $38.04M
YoY Change 2.14% 58.02%
Gross Profit Margin 27.03% 33.77% 30.98%
Selling, General & Admin $61.35M $79.51M $49.31M
YoY Change 24.42% 12.46%
% of Gross Profit 157.9% 180.34% 129.63%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $3.290M $1.650M $914.0K
YoY Change 259.96% 132.39% 100.0%
% of Gross Profit 8.47% 3.74% 2.4%
Operating Expenses $64.64M $81.16M $135.0M
YoY Change -52.11% 13.67% 16.78%
Operating Profit -$25.79M -$37.07M -$12.19M
YoY Change 111.64% -14.78% -75.9%
Interest Expense $223.0K -$146.0K $17.00K
YoY Change 1211.76% -102.06% -57.5%
% of Operating Profit
Other Income/Expense, Net -$223.0K $0.00 -$17.00K
YoY Change 1211.76% -100.0% -57.5%
Pretax Income -$26.01M -$37.22M -$12.20M
YoY Change 113.17% -3.83% -75.88%
Income Tax $2.300M $907.0K $1.800M
% Of Pretax Income
Net Earnings -$8.332M -$10.41M -$3.767M
YoY Change 121.18% -111.42% -92.55%
Net Earnings / Revenue -5.8% -7.97% -3.07%
Basic Earnings Per Share -$0.13 -$0.06
Diluted Earnings Per Share -$0.13 -$174.5K -$0.06
COMMON SHARES
Basic Shares Outstanding 63.98M shares 59.16M shares
Diluted Shares Outstanding 63.98M shares 59.16M shares

Balance Sheet

Concept 2022 Q2 2021 Q4 2021 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $201.7M $281.0M $360.8M
YoY Change -44.1% 9.95%
Cash & Equivalents $201.7M $281.0M $360.8M
Short-Term Investments
Other Short-Term Assets $37.76M $26.73M $14.62M
YoY Change 158.21% 187.44%
Inventory
Prepaid Expenses
Receivables $7.153M $5.829M $4.710M
Other Receivables $25.46M $28.16M $14.63M
Total Short-Term Assets $272.1M $341.8M $394.8M
YoY Change -31.08% 16.05% 30934.59%
LONG-TERM ASSETS
Property, Plant & Equipment $8.299M $7.232M $3.290M
YoY Change 152.25% 258.73%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $4.600M $4.807M $2.393M
YoY Change 92.23% 295.64%
Total Long-Term Assets $74.54M $66.98M $19.93M
YoY Change 273.96% 375.68% -91.36%
TOTAL ASSETS
Total Short-Term Assets $272.1M $341.8M $394.8M
Total Long-Term Assets $74.54M $66.98M $19.93M
Total Assets $346.6M $408.7M $414.7M
YoY Change -16.42% 32.46% 78.82%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.539M $6.501M $5.318M
YoY Change -33.45% -45.8% 3816.72%
Accrued Expenses $54.22M $48.29M $30.93M
YoY Change 75.31% 78.56% 9603.56%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $93.36M $83.93M $54.75M
YoY Change 70.51% -79.07% 8089.99%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $266.0K $315.0K $372.0K
YoY Change -28.49%
Total Long-Term Liabilities $266.0K $315.0K $372.0K
YoY Change -28.49%
TOTAL LIABILITIES
Total Short-Term Liabilities $93.36M $83.93M $54.75M
Total Long-Term Liabilities $266.0K $315.0K $372.0K
Total Liabilities $109.4M $101.0M $59.83M
YoY Change 82.84% -82.46% 586.28%
SHAREHOLDERS EQUITY
Retained Earnings -$104.4M -$81.38M -$47.27M
YoY Change 120.86% 31.49% 33579.34%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $850.0K
YoY Change
Treasury Stock Shares 0.000 shares 0.000 shares $218.6K
Shareholders Equity $68.72M $85.44M $95.91M
YoY Change
Total Liabilities & Shareholders Equity $346.6M $408.7M $414.7M
YoY Change -16.42% 32.46% 78.82%

Cashflow Statement

Concept 2022 Q2 2021 Q4 2021 Q2
OPERATING ACTIVITIES
Net Income -$8.332M -$10.41M -$3.767M
YoY Change 121.18% -111.42% -92.55%
Depreciation, Depletion And Amortization $3.290M $1.650M $914.0K
YoY Change 259.96% 132.39% 100.0%
Cash From Operating Activities -$24.26M -$31.51M $807.0K
YoY Change -3105.82% -331.34%
INVESTING ACTIVITIES
Capital Expenditures -$824.0K -$21.92M -$1.293M
YoY Change -36.27% 763.11%
Acquisitions
YoY Change
Other Investing Activities -$5.718M -$4.136M -$910.0K
YoY Change 528.35%
Cash From Investing Activities -$6.542M -$26.06M -$2.203M
YoY Change 196.96% 1592.14%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -23.00K -1.332M -651.0K
YoY Change -96.47% -100.57%
NET CHANGE
Cash From Operating Activities -24.26M -31.51M 807.0K
Cash From Investing Activities -6.542M -26.06M -2.203M
Cash From Financing Activities -23.00K -1.332M -651.0K
Net Change In Cash -30.82M -58.90M -2.047M
YoY Change 1405.72% -123.94%
FREE CASH FLOW
Cash From Operating Activities -$24.26M -$31.51M $807.0K
Capital Expenditures -$824.0K -$21.92M -$1.293M
Free Cash Flow -$23.43M -$9.586M $2.100M
YoY Change -1215.86% -159.32%

Facts In Submission

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CY2022Q2 rsi Adjustments To Additional Paid In Capital Equity Recapitalization
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CY2022Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2021Q1 us-gaap Stock Issued During Period Value New Issues
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CY2021Q1 rsi Adjustments To Additional Paid In Capital Settlement Of Earnout Interest Liability
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CY2021Q1 us-gaap Profit Loss
ProfitLoss
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CY2021Q1 rsi Adjustments To Additional Paid In Capital Equity Recapitalization
AdjustmentsToAdditionalPaidInCapitalEquityRecapitalization
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CY2021Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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CY2021Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
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CY2021Q2 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
337000 usd
CY2021Q2 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
337000 usd
CY2021Q2 us-gaap Profit Loss
ProfitLoss
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CY2021Q2 rsi Adjustments To Additional Paid In Capital Equity Recapitalization
AdjustmentsToAdditionalPaidInCapitalEquityRecapitalization
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CY2021Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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us-gaap Profit Loss
ProfitLoss
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us-gaap Profit Loss
ProfitLoss
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us-gaap Share Based Compensation
ShareBasedCompensation
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us-gaap Share Based Compensation
ShareBasedCompensation
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us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
6027000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1588000 usd
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
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us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
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rsi Non Cash Operating Lease Costs
NonCashOperatingLeaseCosts
241000 usd
rsi Non Cash Operating Lease Costs
NonCashOperatingLeaseCosts
139000 usd
rsi Fair Value Adjustment Of Earnout Interests Liability
FairValueAdjustmentOfEarnoutInterestsLiability
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rsi Fair Value Adjustment Of Earnout Interests Liability
FairValueAdjustmentOfEarnoutInterestsLiability
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us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
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us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
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us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
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us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
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us-gaap Increase Decrease Due From Affiliates
IncreaseDecreaseDueFromAffiliates
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us-gaap Increase Decrease Due From Affiliates
IncreaseDecreaseDueFromAffiliates
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us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
3700000 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
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us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
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us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
491000 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
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us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
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rsi Increase Decrease In Accrued Liabilities And Other Current Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherCurrentLiabilities
4008000 usd
rsi Increase Decrease In Accrued Liabilities And Other Current Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherCurrentLiabilities
3521000 usd
rsi Increase Decrease In Players Liabilities
IncreaseDecreaseInPlayersLiabilities
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rsi Increase Decrease In Players Liabilities
IncreaseDecreaseInPlayersLiabilities
7310000 usd
rsi Increase Decrease In Deferred Royalties
IncreaseDecreaseInDeferredRoyalties
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rsi Increase Decrease In Deferred Royalties
IncreaseDecreaseInDeferredRoyalties
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rsi Increase Decrease In Lease Liabilities
IncreaseDecreaseInLeaseLiabilities
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rsi Increase Decrease In Lease Liabilities
IncreaseDecreaseInLeaseLiabilities
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
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us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
844000 usd
rsi Payments To Acquire Gaming Licenses
PaymentsToAcquireGamingLicenses
1027000 usd
rsi Payments To Acquire Gaming Licenses
PaymentsToAcquireGamingLicenses
2349000 usd
us-gaap Payments To Develop Software
PaymentsToDevelopSoftware
5578000 usd
us-gaap Payments To Develop Software
PaymentsToDevelopSoftware
1820000 usd
us-gaap Payments To Acquire Longterm Investments
PaymentsToAcquireLongtermInvestments
0 usd
us-gaap Payments To Acquire Longterm Investments
PaymentsToAcquireLongtermInvestments
250000 usd
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
1540000 usd
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
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us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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us-gaap Proceeds From Issuance Of Warrants
ProceedsFromIssuanceOfWarrants
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us-gaap Proceeds From Issuance Of Warrants
ProceedsFromIssuanceOfWarrants
131588000 usd
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PaymentsForRepurchaseOfCommonStock
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us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
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us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
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us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
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us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
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us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
337000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
110755000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
300329000 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
262065000 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
228307000 usd
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
372820000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
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us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
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us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
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us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
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rsi Non Cash Redemption Of Private Placement And Working Capital Warrants
NonCashRedemptionOfPrivatePlacementAndWorkingCapitalWarrants
0 usd
rsi Non Cash Redemption Of Private Placement And Working Capital Warrants
NonCashRedemptionOfPrivatePlacementAndWorkingCapitalWarrants
50798000 usd
rsi Non Cash Settlement Of Public Warrants
NonCashSettlementOfPublicWarrants
0 usd
CY2021Q1 rsi Number Of Trading Days To Calculate Volume Weighted Average Share Prices
NumberOfTradingDaysToCalculateVolumeWeightedAverageSharePrices
P10D
rsi Non Cash Settlement Of Earnout Interests Liability
NonCashSettlementOfEarnoutInterestsLiability
364788000 usd
rsi Non Cash Settlement Of Public Warrants
NonCashSettlementOfPublicWarrants
77509000 usd
rsi Non Cash Settlement Of Earnout Interests Liability
NonCashSettlementOfEarnoutInterestsLiability
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rsi Noncash Or Part Noncash Acquisition Reverse Recapitalization
NoncashOrPartNoncashAcquisitionReverseRecapitalization
3386000 usd
rsi Noncash Or Part Noncash Acquisition Reverse Recapitalization
NoncashOrPartNoncashAcquisitionReverseRecapitalization
8793000 usd
us-gaap Stock Issued1
StockIssued1
2400000 usd
us-gaap Stock Issued1
StockIssued1
0 usd
rsi Restricted Stock Units Issued For Asset Acquisition
RestrictedStockUnitsIssuedForAssetAcquisition
300000 usd
rsi Restricted Stock Units Issued For Asset Acquisition
RestrictedStockUnitsIssuedForAssetAcquisition
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rsi Changes In Accounts Payable For Property And Equipment
ChangesInAccountsPayableForPropertyAndEquipment
87000 usd
rsi Changes In Accounts Payable For Property And Equipment
ChangesInAccountsPayableForPropertyAndEquipment
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us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
5025000 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
2313000 usd
us-gaap Interest Paid Net
InterestPaidNet
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us-gaap Interest Paid Net
InterestPaidNet
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us-gaap Nature Of Operations
NatureOfOperations
Description of Business<div style="margin-top:10pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Rush Street Interactive, Inc. is a holding company organized under the laws of the State of Delaware and, through its main operating subsidiary, Rush Street Interactive, LP and its subsidiaries (collectively, “RSILP”), is a leading online gaming company that provides online casino and sports betting in the U.S., Canadian and Latin American markets. Rush Street Interactive, Inc. and its subsidiaries (including RSILP) are collectively referred to as “RSI” or the “Company.” The Company is headquartered in Chicago, IL.</span></div><div style="margin-top:10pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Impact of COVID-19</span></div><div style="margin-top:10pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The COVID-19 pandemic has adversely impacted global commercial activity, disrupted supply chains and contributed to significant volatility in financial markets. The ongoing COVID-19 pandemic could have a continued material adverse impact on economic and market conditions and trigger a period of global economic slowdown such as a recession. The COVID-19 pandemic therefore presents material uncertainty and risk with respect to the Company and its performance and could affect its financial results in a materially adverse way.</span></div><div style="margin-top:10pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">The COVID-19 pandemic has significantly impacted RSI. Beyond disruptions in normal business operations, the COVID-19 pandemic has had a continued impact on consumer habits and preferences, with many consumers opting to avoid crowded public places such as land-based casinos. COVID-19 has also impacted sports betting due to the rescheduling, reconfiguring, suspension, postponement and cancellation of sports seasons and sporting events or exclusion of certain players or teams from sporting events, which has tended to reduce customers’ use of, and spending on, our sports betting offerings. </span></div><div style="margin-top:10pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Most major professional sports leagues have largely resumed their activities in accordance with their planned schedules. The continued return of major sports and sporting events has generated significant interest and user activity in our sports betting product offerings. However, the possibility remains that sports seasons and sporting events may be rescheduled, reconfigured, suspended, postponed and/or cancelled due to COVID-19 outbreaks.</span></div><div style="text-indent:18pt"><span><br/></span></div><div style="text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:107%">The Company’s revenues vary based on sports seasons and sporting events, among other factors, and cancellations, suspensions or alterations resulting from COVID-19 may adversely affect the Company’s revenue, possibly materially. However, the Company’s online casino offerings do not rely on sports seasons and sporting events, thus, they may partially offset this adverse impact on revenue.</span></div><div style="margin-top:10pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The future effects of COVID-19 and the related impacts on consumer behavior is currently unknown. A significant or prolonged decrease in consumer spending on entertainment or leisure activities would likely have an adverse effect on demand for RSI offerings, reducing cash flows and revenues, thus materially harming the business, financial condition and results of operations. In addition, a significant uptick in COVID-19 cases or an emergence of additional variants or strains could cause other widespread or more severe impacts depending on where infection rates are highest. As steps taken to mitigate the spread of COVID-19 have necessitated a shift away from a traditional office environment for many employees, the Company has implemented business continuity programs to help ensure that our personnel were safe and that the business continues to function with minimal disruptions to normal work operations while personnel worked remotely. The Company will continue to monitor developments relating to disruptions and uncertainties caused by COVID-19.</span></div>
CY2021Q1 rsi Number Of Consecutive Trading Days To Calculate Volume Weighted Average Share Prices
NumberOfConsecutiveTradingDaysToCalculateVolumeWeightedAverageSharePrices
P20D
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="margin-top:10pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Reclassifications</span></div><div style="margin-top:12pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">Certain prior year amounts have been reclassified to conform to the current year presentation. Such reclassifications had no impact on the Company’s reported total revenues, expenses, net loss, current assets, total assets, current liabilities, total liabilities, stockholders’ equity, non-controlling interests or cash flows. No reclassifications of prior period balances were material to the condensed consolidated financial statements.</span></div>
us-gaap Use Of Estimates
UseOfEstimates
Use of EstimatesThe preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates. Significant estimates and assumptions reflected in the condensed consolidated financial statements relate to and include, but are not limited to: the valuation of share-based awards; long-lived assets and investments in equity; the estimated useful lives of property, equipment, and intangible assets; redemption rate assumptions associated with the Company’s player loyalty program and other discretionary player bonuses; deferred revenue relating to the Company’s social gaming revenue stream; accrued expenses; determination of the incremental borrowing rate to calculate operating lease liabilities and finance lease liabilities; valuation of the earnout interests liability; valuation of the warrant liabilities; and deferred taxes and amounts associated with the tax receivable agreement (the “Tax Receivable Agreement”) entered into in connection with the closing on December 29, 2020 of the transactions contemplated in the Business Combination Agreement (the “Closing”).
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OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
500000 usd
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
600000 usd
CY2021Q2 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
100000 usd
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
100000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
278674000 usd
CY2022Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
143736000 usd
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RevenueFromContractWithCustomerExcludingAssessedTax
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
278674000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
234620000 usd
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RevenueFromContractWithCustomerExcludingAssessedTax
143736000 usd
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RevenueFromContractWithCustomerExcludingAssessedTax
122800000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
234620000 usd
CY2021Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
4637000 usd
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ContractWithCustomerLiability
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us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
4637000 usd
CY2022Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
2800000 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
5000000 usd
CY2021Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
600000 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1100000 usd
CY2022Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
938000 usd
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OtherAccruedLiabilitiesCurrent
1588000 usd
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AccruedLiabilitiesCurrent
54222000 usd
CY2021Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
48287000 usd
CY2022Q2 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
5517000 usd
CY2021Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
6038000 usd
CY2022Q2 rsi Accrued Operating Expenses Current
AccruedOperatingExpensesCurrent
21477000 usd
CY2021Q4 rsi Accrued Operating Expenses Current
AccruedOperatingExpensesCurrent
15955000 usd
CY2022Q2 us-gaap Accrued Marketing Costs Current
AccruedMarketingCostsCurrent
23993000 usd
CY2021Q4 us-gaap Accrued Marketing Costs Current
AccruedMarketingCostsCurrent
21948000 usd
CY2022Q2 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
1657000 usd
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AccruedProfessionalFeesCurrent
1753000 usd
CY2022Q2 us-gaap Due To Affiliate Current
DueToAffiliateCurrent
640000 usd
CY2021Q4 us-gaap Due To Affiliate Current
DueToAffiliateCurrent
1005000 usd
CY2021Q1 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-41800000 usd
CY2020Q4 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
170109000 usd
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
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rsi Warrants And Rights Redemption Value
WarrantsAndRightsRedemptionValue
128307000 usd
CY2021Q2 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
0 usd
rsi Warrants And Rights Outstanding Transaction Costs
WarrantsAndRightsOutstandingTransactionCosts
4000000 usd
CY2021Q1 rsi Volume Weighted Average Share Price
VolumeWeightedAverageSharePrice
14.00
CY2021Q1 rsi Fair Value Adjustment Of Earnout Interests Liability
FairValueAdjustmentOfEarnoutInterestsLiability
13700000 usd
CY2020Q4 rsi Earnout Interests Liability
EarnoutInterestsLiability
351048000 usd
rsi Fair Value Adjustment Of Earnout Interests Liability
FairValueAdjustmentOfEarnoutInterestsLiability
13740000 usd
rsi Earnout Interests Liability Settlements
EarnoutInterestsLiabilitySettlements
364788000 usd
CY2021Q2 rsi Earnout Interests Liability
EarnoutInterestsLiability
0 usd
CY2021Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
0 shares
CY2022Q2 us-gaap Treasury Stock Shares
TreasuryStockShares
0 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
130565 shares
CY2022Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2300000 usd
CY2021Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
96827 shares
CY2021Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
7.41
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
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us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares
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us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Weighted Average Grant Date Fair Value
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us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Options Forfeited Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedNumberOfShares
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us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Options Forfeited Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedWeightedAverageGrantDateFairValue
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CY2022Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
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CY2022Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
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CY2020Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
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CY2020Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
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us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
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us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Weighted Average Grant Date Fair Value
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us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Options Forfeited Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedNumberOfShares
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us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Options Forfeited Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedWeightedAverageGrantDateFairValue
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CY2021Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
130565 shares
CY2021Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
7.41
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
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CY2022Q2 us-gaap Allocated Share Based Compensation Expense
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CY2021Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4661000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
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us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
16237000 usd
CY2022Q2 us-gaap Income Tax Expense Benefit
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2335000 usd
CY2021Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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us-gaap Income Tax Expense Benefit
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us-gaap Income Tax Expense Benefit
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us-gaap Income Tax Expense Benefit
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CY2021Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2600000 usd
CY2022Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
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us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
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CY2021Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
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us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.2228
CY2022Q2 rsi Tax Receivable Agreement Liability
TaxReceivableAgreementLiability
52600000 usd
CY2021Q4 rsi Tax Receivable Agreement Liability
TaxReceivableAgreementLiability
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CY2022Q2 us-gaap Profit Loss
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-28346000 usd
CY2021Q2 us-gaap Profit Loss
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-13954000 usd
us-gaap Profit Loss
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us-gaap Profit Loss
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CY2022Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-20014000 usd
CY2021Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
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us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
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us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-10246000 usd
CY2022Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-8332000 usd
CY2021Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-3767000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
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us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
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CY2022Q2 rsi Warrants Net Of Amounts Attributable To Noncontrolling Interest
WarrantsNetOfAmountsAttributableToNoncontrollingInterest
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CY2021Q2 rsi Warrants Net Of Amounts Attributable To Noncontrolling Interest
WarrantsNetOfAmountsAttributableToNoncontrollingInterest
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rsi Warrants Net Of Amounts Attributable To Noncontrolling Interest
WarrantsNetOfAmountsAttributableToNoncontrollingInterest
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rsi Warrants Net Of Amounts Attributable To Noncontrolling Interest
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CY2022Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
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CY2021Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
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us-gaap Net Income Loss Available To Common Stockholders Diluted
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us-gaap Net Income Loss Available To Common Stockholders Diluted
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CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
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63976146 shares
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
59163547 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
62889746 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2022Q2 rsi Incremental Common Shares Attributable To Dilutive Effect Of Public Warrants
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0 shares
CY2021Q2 rsi Incremental Common Shares Attributable To Dilutive Effect Of Public Warrants
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0 shares
rsi Incremental Common Shares Attributable To Dilutive Effect Of Public Warrants
IncrementalCommonSharesAttributableToDilutiveEffectOfPublicWarrants
0 shares
rsi Incremental Common Shares Attributable To Dilutive Effect Of Public Warrants
IncrementalCommonSharesAttributableToDilutiveEffectOfPublicWarrants
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CY2022Q2 rsi Incremental Common Shares Attributable To Dilutive Effect Of Private Placement And Working Capital Warrants
IncrementalCommonSharesAttributableToDilutiveEffectOfPrivatePlacementAndWorkingCapitalWarrants
0 shares
CY2021Q2 rsi Incremental Common Shares Attributable To Dilutive Effect Of Private Placement And Working Capital Warrants
IncrementalCommonSharesAttributableToDilutiveEffectOfPrivatePlacementAndWorkingCapitalWarrants
0 shares
rsi Incremental Common Shares Attributable To Dilutive Effect Of Private Placement And Working Capital Warrants
IncrementalCommonSharesAttributableToDilutiveEffectOfPrivatePlacementAndWorkingCapitalWarrants
0 shares
rsi Incremental Common Shares Attributable To Dilutive Effect Of Private Placement And Working Capital Warrants
IncrementalCommonSharesAttributableToDilutiveEffectOfPrivatePlacementAndWorkingCapitalWarrants
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CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
63976146 shares
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
59163547 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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CY2022Q2 us-gaap Contractual Obligation Due In Second Year
ContractualObligationDueInSecondYear
6738000 usd
CY2022Q2 us-gaap Contractual Obligation Due In Third Year
ContractualObligationDueInThirdYear
8832000 usd
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.13
CY2021Q2 us-gaap Earnings Per Share Basic
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us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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us-gaap Earnings Per Share Basic
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CY2022Q2 us-gaap Earnings Per Share Diluted
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CY2021Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.06
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.37
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.24
CY2022Q2 us-gaap Contractual Obligation Future Minimum Payments Due Remainder Of Fiscal Year
ContractualObligationFutureMinimumPaymentsDueRemainderOfFiscalYear
15630000 usd
CY2022Q2 us-gaap Contractual Obligation Due In Next Twelve Months
ContractualObligationDueInNextTwelveMonths
16399000 usd
CY2022Q2 us-gaap Contractual Obligation Due In Fourth Year
ContractualObligationDueInFourthYear
3924000 usd
CY2022Q2 rsi Purchase Obligation To Be Paid After Year Four
PurchaseObligationToBePaidAfterYearFour
25074000 usd
CY2022Q2 us-gaap Contractual Obligation
ContractualObligation
76597000 usd

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