Rivalry reports Q1 2025 revenue of $948.7k, net loss decreases by 43%

Rivalry Corporation has released its financial results for the first quarter of 2025, including a net revenue decrease of 71.1% year-over-year to CA$1.3m (US$948.7k), even as operating expenses fell by 58% from the prior year period for a total of $2.9m. 

“This quarter marks the full emergence of Rivalry 2.0 – leaner, sharper and structurally stronger,” Rivalry Co-Founder and CEO Steven Salz said. 

“We’ve rebuilt the foundation of the business around high-efficiency acquisition, high-value users and a proprietary product – and we’re already seeing the impact. Rivalry today is not just a leaner version of itself – it’s a fundamentally different company built for scalability.”

The sportsbook and iGaming operator revealed that its betting handle in Q1 2025 was $41.9m, “amplified by the company’s strategic pivot toward high-value and VIP players” throughout the period. 

Rivalry also managed to decrease its net loss by 43% from the prior year period for a total of $2.2m in Q1 2025, as a “meaningful” portion of the period’s expenses were non-recurring or non-operational, including audit costs and regulatory fees. 

“We’ve created an operating model that is not only lean and disciplined, but also high-leverage,” Salz said. 

“This is a structurally better business than it was a year ago. The team is tighter, the product is stronger and the KPIs are outperforming – all with limited capital deployment. The engine is rebuilt.”

Good to know: Rivalry added US President-elect Donald Trump’s official Solana cryptocurrency $TRUMP on January 20, ahead of President Trump’s inauguration date

According to the operator, Q2 2025 results have also produced record-highs in net revenue per player, which increased by 49% from the first quarter of 2025, wagers per player, average monthly deposits and monthly deposit frequency. 

Average monthly deposits per player were 175% higher than Rivalry’s historical average throughout Q1 2025, increasing by an additional 28% in the following quarter. Monthly deposit frequency rose by 115% over historical average in the first quarter of 2025, increasing by 22% for Q2 2025. 

The company reported a ‘breakeven’ net revenue of $600k, down from the Q1 2024 total of $2m with further cost optimization initiatives set to take place throughout Q3 2025.

Heading into the second half of 2025, Rivalry will reportedly maintain a focus on the deployment of a new promotional engine, casino-led engagement mechanics, geographic reactivations and additional cost reduction.

Kirk Geller

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