Earnings Per Share

The basic and diluted earnings per share for the three and six months ended June 30, 2026 and 2025 were as follows (amounts in thousands, except for share and per share amounts):


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Numerator:
Net income	$	29,295	$	28,830	$	55,506	$	40,041
Less: Net income attributable to non-controlling interests	17,749		12,142		34,890		18,034
Net income attributable to Rush Street Interactive, Inc. – basic	$	11,546	$	16,688	$	20,616	$	22,007

Effect of dilutive securities:
Increase to net income attributable to non-controlling interests	—		12,142		—		18,034
Net income attributable to Rush Street Interactive, Inc. – diluted	$	11,546	$	28,830	$	20,616	$	40,041

Denominator:
Weighted-average common shares outstanding – basic	110,930,443		95,053,473		106,581,990		94,455,413

Adjustments:
Incremental shares from assumed conversion of stock options and restricted stock units	4,996,726		6,163,100		4,577,320		6,272,617
Conversion of Weighted Average RSILP units to Class A Common Shares	—		133,294,736		—		133,677,803
Weighted-average common shares outstanding – diluted	115,927,169		234,511,309		111,159,310		234,405,833

Earnings per Class A Common Share - basic	$	0.10	$	0.18	$	0.19	$	0.23
Earnings per Class A Common Share - diluted	$	0.10	$	0.12	$	0.19	$	0.17

The Company’s Class V Common Stock does not participate in the Company’s earnings or losses and is therefore not a participating security. As such, separate presentation of basic and diluted earnings per share of Class V Common Stock under the two-class method has not been presented.

The Company excluded the following securities from its computation of diluted shares outstanding for the three and six months ended June 30, 2026 and 2025 as their effect would have been anti-dilutive:


	Three Months Ended June 30,		Six Months Ended June 30,
	2026	2025	2026	2025
RSILP Units(1)	121,081,672	—	125,108,251	—
Unvested RSUs	513,369	569,252	513,369	1,101,085
Outstanding Stock Options	—	441,218	—	441,218

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(1)RSILP Units that are held by non-controlling interest holders and may be exchanged, subject to certain restrictions, for Class A Common Stock. Upon exchange of an RSILP Unit, a share of Class V Common Stock is canceled.