Rivalry Reports Q2 2025 Results Highlighting Record Unit Economics, Structural Efficiency, and Strategic Progress
Rivalry Corp (TSXV: RVLY) released its Q2 2025 financial results, showcasing significant improvements under its restructured business model implemented in late 2024. The company reported net revenue of $1.6 million, a 24% sequential increase from Q1 2025.
Key financial metrics include a 62% year-over-year reduction in operating expenses to $3.6 million and a 59% narrowed net loss to $2.19 million. The company achieved record player economics with net revenue per player increasing 49% quarter-over-quarter and 210% higher than pre-transformation levels. Customer Acquisition Cost payback averaged approximately 1.5 months during H1 2025.
The company's ongoing Strategic Review focuses on normalizing costs, implementing controlled growth strategies, and exploring additional cost optimizations for H2 2025.
Rivalry Corp (TSXV: RVLY) ha pubblicato i risultati finanziari del secondo trimestre 2025, evidenziando miglioramenti significativi grazie al modello operativo ristrutturato introdotto a fine 2024. La societ脿 ha registrato ricavi netti per 1,6 milioni di dollari, con un aumento sequenziale del 24% rispetto al primo trimestre 2025.
I principali indicatori finanziari mostrano una riduzione delle spese operative del 62% su base annua, scese a 3,6 milioni di dollari, e una perdita netta ridotta del 59%, pari a 2,19 milioni di dollari. L'azienda ha raggiunto risultati record in termini di economics per giocatore, con il ricavo netto per giocatore in aumento del 49% trimestre su trimestre e del 210% rispetto ai livelli pre-trasformazione. Il periodo di recupero del Customer Acquisition Cost 猫 stato in media di circa 1,5 mesi nel primo semestre 2025.
La Revisione Strategica in corso si concentra sulla normalizzazione dei costi, sull'implementazione di strategie di crescita controllata e sull'esplorazione di ulteriori ottimizzazioni dei costi per la seconda met脿 del 2025.
Rivalry Corp (TSXV: RVLY) public贸 sus resultados financieros del segundo trimestre de 2025, mostrando mejoras significativas tras el modelo de negocio reestructurado implementado a finales de 2024. La compa帽铆a report贸 ingresos netos de 1,6 millones de d贸lares, un aumento secuencial del 24% respecto al primer trimestre de 2025.
Las m茅tricas financieras clave incluyen una reducci贸n del 62% interanual en gastos operativos, hasta 3,6 millones de d贸lares, y una p茅rdida neta acortada en un 59%, hasta 2,19 millones de d贸lares. La empresa logr贸 cifras r茅cord en la econom铆a por jugador, con ingresos netos por jugador que aumentaron un 49% trimestre a trimestre y un 210% por encima de los niveles previos a la transformaci贸n. El payback del Coste de Adquisici贸n de Clientes promedi贸 aproximadamente 1,5 meses durante el primer semestre de 2025.
La Revisi贸n Estrat茅gica en curso se centra en normalizar costos, aplicar estrategias de crecimiento controlado y explorar optimizaciones adicionales de costes para la segunda mitad de 2025.
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Rivalry Corp (TSXV: RVLY) a publi茅 ses r茅sultats du deuxi猫me trimestre 2025, montrant des am茅liorations significatives suite au mod猫le d'entreprise restructur茅 mis en place fin 2024. La soci茅t茅 a d茅clar茅 un chiffre d'affaires net de 1,6 million de dollars, en hausse s茅quentielle de 24% par rapport au T1 2025.
Les principales mesures financi猫res indiquent une r茅duction des d茅penses d'exploitation de 62% en glissement annuel 脿 3,6 millions de dollars et une perte nette r茅duite de 59%, 脿 2,19 millions de dollars. L'entreprise a atteint des performances record par joueur, avec un chiffre d'affaires net par joueur en hausse de 49% trimestre sur trimestre et 210% sup茅rieur aux niveaux avant la transformation. Le d茅lai de r茅cup茅ration du co没t d'acquisition client s'est 茅lev茅 en moyenne 脿 environ 1,5 mois au cours du premier semestre 2025.
La revue strat茅gique en cours vise 脿 normaliser les co没ts, mettre en 艙uvre des strat茅gies de croissance contr么l茅e et explorer des optimisations de co没ts suppl茅mentaires pour le second semestre 2025.
Rivalry Corp (TSXV: RVLY) ver枚ffentlichte seine Finanzergebnisse f眉r Q2 2025 und zeigte damit deutliche Verbesserungen durch das Ende 2024 eingef眉hrte restrukturierte Gesch盲ftsmodell. Das Unternehmen meldete Nettoerl枚se von 1,6 Mio. USD, ein sequenzieller Anstieg von 24% gegen眉ber Q1 2025.
Zu den wichtigsten Kennzahlen z盲hlen eine j盲hrliche Reduktion der Betriebskosten um 62% auf 3,6 Mio. USD und ein um 59% verringerter Nettoverlust von 2,19 Mio. USD. Das Unternehmen erzielte Rekordkennzahlen pro Spieler: Nettoerl枚s pro Spieler stieg viertelj盲hrlich um 49% und liegt 210% 眉ber dem Niveau vor der Transformation. Die Amortisierungszeit der Customer-Acquisition-Costs lag im ersten Halbjahr 2025 im Mittel bei etwa 1,5 Monaten.
Die laufende Strategische 脺berpr眉fung konzentriert sich auf die Normalisierung der Kosten, die Umsetzung kontrollierter Wachstumsstrategien und die Pr眉fung weiterer Kostenoptimierungen f眉r H2 2025.
- Net revenue increased 24% quarter-over-quarter to $1.6 million
- Operating expenses reduced 62% year-over-year to $3.6 million
- Net loss narrowed 59% year-over-year to $2.19 million
- Net revenue per player increased 49% quarter-over-quarter and 210% above historical average
- Customer Acquisition Cost payback improved to 1.5 months
- Wagers per player rose 7% quarter-over-quarter and 300% above pre-rebuild average
- Company still operating at a net loss of $2.19 million
- Significant portion of Q2 expenses were non-recurring or non-operational
- Strategic Review outcome remains uncertain with no assurance on timing or results
Operating expenses reduced
TORONTO, Aug. 29, 2025 (GLOBE NEWSWIRE) -- Rivalry Corp. (the 鈥淐ompany鈥� or 鈥淩ivalry鈥�) (TSXV: RVLY), an internationally regulated sports betting and media company, today announced financial results for the three and six-month period ended June 30, 2025 (鈥淨2 2025鈥�). All dollar figures are quoted in Canadian dollars unless otherwise noted.
Q2 2025 marks Rivalry鈥檚 second full quarter operating under its restructured business model initiated in late 2024, centered on efficiency, improved player monetization, and deeper operational discipline. The Company鈥檚 results continue to demonstrate the impact of this shift, with record net revenue per player, reduced expenses, and a significantly narrowed net loss.
鈥淲e鈥檝e rebuilt Rivalry into a lean, high-performance engine,鈥� said Steven Salz, Co-Founder and CEO of Rivalry. 鈥淧layer monetization is at all-time highs, the product is stronger than ever, and we鈥檙e doing more with less.鈥�
Key Highlights
- Net revenue in Q2 2025 increased
24% sequentially to$1.6 million , up from$1.3 million in Q1 2025, despite a declining expense base and completely flat marketing spend. - Operating expenses declined
62% YoY to$3.6 million , down from$9.5 million in Q2 2024, reflecting substantial cost reductions and improved operational focus. - Net loss narrowed
59% YoY to$2.19 million , down from$5.37 million in Q2 2024, and improved sequentially from$2.99 million in Q1 2025. - Average Customer Acquisition Cost payback across H1 2025 was approximately 1.5 months, reflecting improved funnel conversion, higher player value, and stronger retention - all achieved under constrained spend conditions.
- Run-rate monthly operating expenses remain approximately
$600,000 USD, consistent with the Q1 2025 press release.
Adjusted Operating Metrics
As with Q1 2025, a meaningful portion of Q2 2025 expenses were non-recurring or non-operational, including annual audit costs, regulatory fees, and legacy vendor payments from prior periods. On a run-rate basis:
- Adjusted G&A expense1 was
$1.7 million , compared to the reported$2.5 million . - Adjusted Technology and Content expense1 was approximately
$440,000 , versus$854,000 reported.
These adjustments reinforce that Rivalry is operating increasingly closer to breakeven on a structural basis, with the Q2 2025 reported net loss largely a function of historical payables and costs from prior quarters.
Record Player Economics
Performance improvements continued in Q2 2025, with record-high player monetization across multiple dimensions. These gains were driven by an improving product, high value player segmentation, enhanced onboarding, retention, and engagement improvements across the platform.
- Net revenue per player increased
49% quarter-over-quarter, and was210% higher than the historical average prior to the Q4 2024 transformation. - Wagers per player rose
7% quarter-over-quarter, and nearly300% above the pre-rebuild average. - Average monthly deposits per player increased
28% quarter-over-quarter, following a175% increase in Q1 from historical levels. - Deposit frequency per player climbed
22% quarter-over-quarter, compounding earlier gains, up115% from historical levels in Q1.
Strategic Review and Operational Focus
Rivalry鈥檚 previously announced evaluation of strategic alternatives (the 鈥淪trategic Review鈥�) remains ongoing. The Company continues to explore a range of potential outcomes aimed at maximizing shareholder value. There is no assurance regarding the timing or results of the Strategic Review.
As part of the Strategic Review, Rivalry is focused on:
- Normalizing the cost base to the aforementioned run rate by resolving non-recurring liabilities and payables from prior periods.
- Activating a controlled growth strategy, supported by high marketing efficiency and a 1.5-month Customer Acquisition Cost payback average observed throughout 2025.
- Targeted cost optimization, with additional reductions being assessed for H2 2025.
鈥淭his Strategic Review is about enabling growth from a fundamentally stronger base,鈥� said Salz. 鈥淲e鈥檝e rebuilt the engine. Now we鈥檙e focused on unlocking its full potential.鈥�
About Rivalry
Rivalry Corp. wholly owns and operates Rivalry Limited, a leading sports betting and media company offering fully regulated online wagering on esports, traditional sports, and casino for the digital generation. Based in Toronto, Rivalry operates a global team in more than 20 countries and growing. Rivalry Limited has held an Isle of Man license since 2018, considered one of the premier online gambling jurisdictions, as well as an internet gaming registration in Ontario, and is currently in the process of obtaining additional country licenses. With world class creative execution and brand positioning in online culture, a native crypto token, and demonstrated market leadership among digital-first users Rivalry is shaping the future of online gambling for a generation born on the internet.
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
Company Contact:
Steven Salz, Co-founder & CEO
Investor Contact:
Non-IFRS Measures
Adjusted General and Administration expense and Adjusted Technology and Content expense, as reported in this news release, are non-IFRS financial measures that the Company uses to assess its operating performance. Adjusted General and Administration expense is defined as General and Administration expense adjusted for one-time or non-recurring expenses. Adjusted Technology and Content expense is defined as Technology and Content expense adjusted for one-time or non-recurring expenses. This data is furnished to provide additional information and represents non-IFRS measures that do not have any standardized meaning prescribed by IFRS. The Company uses these non IFRS measures to provide shareholders and others with supplemental measures of its operating performance. As other companies may calculate these non-IFRS measure differently than the Company, these metric may not be comparable to similarly titled measures reported by other companies.
Cautionary Note Regarding Forward-Looking Information and Statements
This news release contains certain forward-looking information within the meaning of applicable Canadian securities laws (鈥渇orward-looking statements鈥�). All statements other than statements of present or historical fact are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as 鈥渁nticipate鈥�, 鈥渁chieve鈥�, 鈥渃ould鈥�, 鈥渂elieve鈥�, 鈥減lan鈥�, 鈥渋ntend鈥�, 鈥渙bjective鈥�, 鈥渃ontinuous鈥�, 鈥渙ngoing鈥�, 鈥渆stimate鈥�, 鈥渙utlook鈥�, 鈥渆xpect鈥�, 鈥減roject鈥� and similar words, including negatives thereof, suggesting future outcomes or that certain events or conditions 鈥渕ay鈥� or 鈥渨ill鈥� occur. These statements are only predictions. Forward-looking statements in this news release include, but are not limited to, Rivalry operating on a cash flow positive basis in future financial periods, cost optimizations to be implemented in H2 2025 and the results of the Company鈥檚 ongoing Strategic Review.
Forward-looking statements are based on the opinions and estimates of management of the Company at the date the statements are made based on information then available to the Company. Various factors and assumptions are applied in drawing conclusions or making the forecasts or projections set out in forward-looking statements. Forward-looking statements are subject to and involve a number of known and unknown, variables, risks and uncertainties, many of which are beyond the control of the Company, which may cause the Company鈥檚 actual performance and results to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. Such factors, among other things, include regulatory or political change such as changes in applicable laws and regulations; the ability to obtain and maintain required licenses; the esports and sports betting industry being a heavily regulated industry; the complex and evolving regulatory environment for the online gaming and online gambling industry; the success of esports and other betting products are not guaranteed; changes in public perception of the esports and online gambling industry; failure to retain or add customers; the Company having a limited operating history; negative cash flow from operations and the Company鈥檚 ability to operate as a going concern; operational risks; cybersecurity risks; reliance on management; reliance on third parties and third-party networks; exchange rate risks; risks related to cryptocurrency transactions; risk of intellectual property infringement or invalid claims; the effect of capital market conditions and other factors on capital availability; competition, including from more established or better financed competitors; and general economic, market and business conditions. For additional risks, please see the Company鈥檚 management鈥檚 discussion and analysis for the 12 months ended December 31, 2024 under the heading 鈥淩isk Factors鈥�, and other disclosure documents available on the Company鈥檚 SEDAR+ profile at .
No assurance can be given that the expectations reflected in forward-looking statements will prove to be correct. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Readers should not place undue reliance on the forward-looking statements and information contained in this news release. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws.
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1 Please see 鈥淣on-IFRS Measures鈥�
FAQ
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