RSI // Rush Street Interactive Inc.

DES <GO> NYSE CIK 0001793659 ↗

Consumer Discretionary • Services-Misc. Amusement & Recreation

$13.62 ▼ -1.51 (-9.98%)

MKT CAP: $3.16B • VOL: 10.43M

52W L $12 52W H $35

ALTMAN Z

7.64 SAFE

PIOTROSKI

8 / 9

RSI // ROARABLE RATING & 5-PILLAR RQD CONFIDENCE 02:00 EST DETERMINISTIC ENGINE

PRIOR: RQD 67/100 [C+] (+0 PT) • UNCHANGED AS OF 2026-11-01

ROARABLE C+

RQD CONFIDENCE

67 / 100 +0D

5 X 20-PT QUANT PILLARS

E 0 D 35 C 59 B 70 A 86+

Roarable Hold — Upper Neutral / Watch for Breakout

01 MASSIVE / SEC XBRL

Forensic Fundamentals

17 / 20

STRONG

FCF +55.6% vs NI +200% • ROIC-WACC +19.6% • Z 7.64

02 OPRA GEX + SEC 13F

Whale & Options Flow

[LOCKED] FLAGGED

UNLOCK BELOW TO REVEAL

03 SEC FORM 4 (90D)

Insider Conviction

[LOCKED] FLAGGED

UNLOCK BELOW TO REVEAL

04 FRED 90D r-MATRIX

Macro Regime Fit

13 / 20

SOLID

TAILWIND • r(10Y)=+0.00 (+23bp) • r(OAS)=+0.00

05 10-K REDLINE AUDIT

Forensic 10-K Risk

16 / 20

STRONG

20 BASE - 4 DEDUCT • 0 CRIT / 0 MED • STABLE

ALERT

Why did RSI's Whale & Options Flow & Insider Conviction sub-score just flash a warning? Enter your email to unlock the full 5-Pillar Rating Breakdown + get instant alerts whenever RSI is Upgraded or Downgraded.

SIG <GO> CROSS-FEED TRIANGULATION // PROPRIETARY ANOMALY ENGINE (1 ACTIVE ON RSI)

STAGE 2 DETERMINISTIC Z-SCORE + STAGE 3 GEEK DESK BRIEF ALL MARKET ANOMALIES <SIG>

▼ BEARISH // F-RATED EARNINGS MIRAGE // ACCRUAL WATCHSIFTER 02 // ACCRUAL & RECEIVABLES FORENSICS

SEVERITY: 85/100 Z-SCORE: +2.59σ

RSI Accounting Gap: Net Income (+220%) Outpaced OCF (+55%) With +3.5% Working-Capital Build

CASH CONVERSION GAP

+165.0% (NI vs OCF)

RECEIVABLES / WC BLOAT

+3.5% VS REV

60D C-SUITE FORM 4 SALES

0 OPEN-MKT DUMPS

[GEEK DESK FORENSIC NOTE // SEC XBRL × FORM 4 CROSS-CHECK]

SEC EDGAR XBRL CompanyFacts10-K/10-Q Working Capital ScheduleSEC Form 4 Executive Sales

SEC EDGAR XBRL triangulation on Rush Street Interactive Inc. (RSI) exposes a +165.0% Cash Conversion Gap as YoY Net Income growth (+220.0%) diverged from Operating Cash Flow growth (+55.0%). Non-cash current assets and receivables expanded +3.5% relative to top-line revenue growth. Monitor upcoming 10-Q cash realization closely for accrual mean-reversion.

RSI // CANDLESTICK & AUTO-TRENDLINE WORKSTATION6M: -56.87%▼ SUPPORT BREAKDOWN

2026-10-30O $13.34H $13.36L $11.88C $12.12VOL 13.22M

RES: $42.10SUP: $14.70SMA50: $21.52SMA200: $23.83

RSI // INSTITUTIONAL BULL VS. BEAR FORENSIC DEBATE

NEUTRAL / PAIR TRADE CONVICTION: 48/100

BEAR 0

100 BULL

Rush Street Interactive Inc. (RSI) exhibits 34.6% gross margins and 27.3% return on invested capital within Consumer Discretionary (Services-Misc. Amusement & Recreation), balanced against a 33.7x enterprise multiple and 7.2% implied options volatility.

▲ INSTITUTIONAL BULL THESIS (LONG)

01. Operating Leverage & Capital Efficiency Moat

Sustained 34.6% gross profitability converts into 7.7% operating margin and 27.3% ROIC, outpacing sector cost of capital.

ROIC: 27.3% // GM: 34.6%

02. Top-Line Expansion & Cash Conversion

YoY revenue trajectory of +22.8% paired with 5.20% free cash flow yield supports self-funded R&D and capital return.

REV YOY: +22.8% // FCF YLD: 5.20%

03. Balance Sheet Solvency & Forensic Quality

Altman Z-Score of 7.64 and Piotroski F-Score of 8/9 indicate low near-term refinancing stress.

ALTMAN Z: 7.64 // F-SCORE: 8/9

▼ INSTITUTIONAL BEAR THESIS (SHORT / RISK)

01. Multiple Compression & Duration Sensitivity

Trading at 94.8x trailing P/E (79.6x Fwd P/E) leaves valuation vulnerable if real 10Y TIPS yields spike.

P/E: 94.8x // EV/EBITDA: 33.7x

02. Options Skew & Event Volatility Risk

Options market prices a ±7.2% implied move with a 1.33 put/call ratio around $13.00 max pain.

IMPL MOVE: ±7.2% // P/C: 1.33

03. Competitive Margin & CapEx Cycle Pressure

Elevated industry capital intensity and customer concentration in Services-Misc. Amusement & Recreation require continuous execution to defend 2.9% net margins.

NET MARGIN: 2.9% // D/E: 1.01x

KEY CATALYST // Upcoming 10-Q/10-K XBRL margin progression, guidance revision vs 79.6x forward consensus, and institutional 13F positioning.

MACRO REGIME // Monitor US 10Y Real Yields (DFII10) and High-Yield Credit Spreads (OAS) for beta-adjusted multiple impact (Beta 1.10).

FORM 4 & 13F FLOW OPEN OWN <GO>

FILER	SIDE	$ VALUE
INSPECT FULL OWNERSHIP LEDGER IN OWN <GO>

UNUSUAL OPTIONS TAPE OPEN OPT <GO>

STRIKE / EXP	TYPE	PREMIUM
INSPECT GEX & CHAIN IN OPT <GO>

KEY VALUATION & PROFITABILITY RATIOS XBRL FA <GO>

TRAILING P/E 94.8x

FORWARD P/E 79.6x

EV / EBITDA 33.7x

FCF YIELD 5.20%

GROSS MARGIN 34.6%

OPERATING MARGIN 7.7%

NET MARGIN 2.9%

ROIC % 27.3%

REV GROWTH YOY +22.8%

DILUTED EPS TTM $0.14

DEBT / EQUITY 1.01x

DIVIDEND YIELD 0.00%

RSI-14 MOMENTUM 14.7

5Y EQUITY BETA 1.10

FRED MACRO SENSITIVITY (PEARSON r) ECST <GO>

MACRO CORRELATION CALIBRATION ACTIVE BELOW.

FRED MACRO REGIME STRESS-TEST SIMULATOR // RSIPEARSON R VARIANCE ENGINE

01 // SELECT FEDERAL RESERVE & CREDIT SHOCK SCENARIO

02 // POSITION NOTIONAL EXPOSURE

HEADLINE STRESS SCORE

75/100SEVERE DRAWDOWN PRESSURE

PRIMARY FACTOR EXPOSURE

DFII10 // -0.61 r

Latest: 2.08%

EST. DIRECTIONAL MOVE

-8.50%

Implied Px: $12.46

EST. DOLLAR VARIANCE

-$4,248

On $50,000 Notional

[LOCKED // MULTI-FACTOR DRAWDOWN HEDGE & MACRO TRIGGER ALERT]

Unblur the exact $50,000 delta-adjusted ETF/options hedge ratio for RSI & activate live FRED threshold breach alerts.

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