RUSHNasdaq HelsinkiSpecialty Business ServicesIFRS · EUR

Rush Factory Oyj

Rush Factory Oyj is a Finnish event company built around branded mass-participation experiences, centered on obstacle-course running and fitness events. Its core concepts combine inflatable obstacles, music, color stations, and timed ticket sales, with events staged in multiple countries through a touring format.

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Revenue0.8m EUR
−36.7 %y/y
Net income-1.1m EUR
−1,464.5 %y/y

Fiscal year 2024 · change from previous year

Development 2022–2024

-1.0-0.50.00.51.01.5m EUR20222023: 1.3 m EUR2023: EBIT -0.63 m EUR20232024: 0.83 m EUR20240.83
RevenueOperating profit (EBIT)
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Business

Share of revenue
Color Obstacle Rush events70 %

5 km color-run style obstacle events with inflatable obstacles, foam, music, and color stations.

Rush Workout events20 %

Shorter fitness-format events using the same inflatable obstacle equipment and coaching.

Event ticketing and registration10 %

Advance ticket sales sold in price tiers before each event weekend.

Customers

The company sells primarily to individual participants who buy tickets for recreational, low-threshold fitness and entertainment events. Its audience includes casual runners, families, groups of friends, and participants who want a fun physical activity rather than a competitive race. The business also depends on local event attendees in each host market and on repeat participation in established event concepts.

Individual event participants

Buy tickets to join Color Obstacle Rush or Rush Workout for recreation, exercise, and entertainment.

Social groups and friends

Purchase tickets together for a shared weekend activity and branded experience.

Families and mixed-ability attendees

Choose the events because obstacles can be walked around and intensity is self-paced.

Repeat participants

Return for familiar event formats, seasonal tours, and the established Color Obstacle Rush brand.

Strategy

The company’s strategy is built around scaling recognizable event concepts that can be repeated across countries with shared equipment and a common operating model. It also uses advance, tiered ticket sales to lock in demand before event weekends and to support planning for touring logistics.

Grow touring event sales across core European marketsMedium term

The business depends on filling event weekends in each host country.

Leverage shared event infrastructureShort term

Using the same equipment across concepts lowers operational duplication.

Increase advance ticket conversionShort term

Early sales improve visibility on attendance and event planning.

Geography

Rush Factory operates a touring event model across multiple countries, with reports specifically mentioning Finland, Germany, England, and Sweden. Geography matters because ticket demand, local event execution, and pre-sales can vary materially by market, and the company must coordinate equipment, staffing, and permits across host countries.

Risks

Rush Factory faces execution risk because its business depends on successful event delivery, ticket pre-sales, and reliable touring logistics across countries. The reports also highlight company-specific concerns around intellectual property, brand and reputation, IT systems, insurance coverage, and going-concern uncertainty, all of which can materially affect operations and financing.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Going-concern and financing risk1Demand volatility across event markets2Brand and reputation damage3
Impact is the risk’s severity and likelihood how probable it is over the next few years, both assessed from the company’s reports. Numbers match the list.
  1. Going-concern and financing riskImpact: CriticalLikelihood: High

    The audit report highlighted material uncertainty about continued operations.

    Exposure: Group liquidity and capital structure

  2. Demand volatility across event marketsImpact: HighLikelihood: High

    Ticket sales depend on consumer interest in each host country and event season.

    ExposureGermanyEnglandSwedenFinland
  3. Brand and reputation damageImpact: HighLikelihood: High

    The company sells experience-based events where trust and excitement drive purchases.

    Exposure: Color Obstacle Rush and Rush Workout brands

  4. IT and ticketing system disruptionImpact: Medium

    Software problems can affect sales, event administration, and customer experience.

    Exposure: Ticketing and event operations

  5. Intellectual property riskImpact: Medium

    The company relies on proprietary event concepts and branded formats.

    Exposure: Event concepts and brand assets

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Accounting

Judgemental items
Going-concern assessment

The auditor highlighted material uncertainty about continued operations.

Impact: Affects asset valuation, liability classification, and disclosure

Revenue recognition for advance ticket sales

Tickets are sold months before events, so revenue timing depends on event delivery.

Impact: Can shift reported revenue between quarters

Seasonality and event timing

Weekend event schedules and touring calendars create uneven quarterly results.

Impact: Affects comparability across reporting periods

Provisions and contingencies

Event operations can involve permits, fines, insurance claims, and legal matters.

Impact: May affect expenses and liabilities

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Last updated: 24/09/2026