Rivalry Points to New-Found Operational Efficiencies With Q1 2025 Financial Statement
Posted on: July 16, 2025, 02:16h.
Last updated on: July 16, 2025, 03:12h.
- Company implemented fundamental changes at end of 2024
- 58% year-over-year decrease in operating expenses
- Rivalry says KPIs in Q2 2025 show company is on the right path after restructuring
Toronto-based Rivalry Corp. released its Q1 2025 (ended March 31, 2025) financial results, pointing to what the company says are the new-found benefits of its new operating structure.
“Rivalry today is a high-performance engine – structurally rebuilt, road-tested, and positioned to scale,” said Steven Salz, the company’s co-founder and CEO. “We’re focused on unlocking the next chapter of growth, and the strategic review process is designed to support that path.”
Net revenue was CA$1.3 million, and operating expenses decreased 58% year over year to CA$4 million in Q1 2025. Net loss reduced by 43% to CA$3 million, from CA$5.2 million in Q1 2024.
Tighter Corporate Structure Brings Costs Down
The company completed a product, brand, and marketing overhaul going into 2025. That included a crypto-first strategy plus a renewed focus on high-value players.
Rivalry introduced a revamped registration flow, login, sportsbook, new crypto-first cashier, redesigned casino offering, and a comprehensive VIP rewards program.
Most of the changes have been implemented. In a statement, the company said those include a leaner operating model with breakeven net revenue at US$600K per month, down from US$2 million per month a year ago.
Layoffs in 2024
The company implemented staffing layoffs in 2024, letting go of 28 employees in October, after laying off 29 people in July.
“This quarter marks the full emergence of Rivalry 2.0 – leaner, sharper, and structurally stronger,” said Salz. “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.”
Net Revenue Up in Q2 2025
Several key KPIs in Q2 2025 include a net revenue per player increase of 49% versus Q1 2025 while wagers per player rose 7% quarter over quarter, and average monthly deposits per player in Q1 2025 were over 175% higher than the historical average. In Q2 2025, that increased a further 28%.
Monthly deposit frequency per player in Q1 2025 was up 115% over the historical average, and was up another 22% in Q2 2025.
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