Rivalry Points to New-Found Operational Efficiencies With Q1 2025 Financial Statement
In its financial results for the first quarter of 2025 (ending March 31, 2025), Toronto-based Rivalry Corp. highlighted what it claims are the new advantages of its new organizational 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.”
In Q1 2025, operating expenses dropped 58% year over year to CA$4 million, while net revenue was CA$1.3 million. The net loss decreased from CA$5.2 million in Q1 2024 to CA$3 million, a 43% decrease.
Reduced Costs Due to Tighter Corporate Structure
By 2025, the business had completely revamped its marketing, brand, and product offerings. This featured a fresh emphasis on high-value athletes and a crypto-first approach.
Rivalry debuted a new crypto-first cashier, a revised casino offering, a sportsbook, a VIP rewards program, and an updated signup process and login.
The majority of the modifications have been put into effect. A leaner operating model with breakeven net sales of US$600K per month, compared to US$2 million per month a year ago, is one of those, the company stated in a statement.
2024 layoffs
In 2024, the organization initiated staffing cuts, firing 29 employees in July and then 28 employees in October.
“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.”
Q2 2025 Net Revenue Increase
A number of important KPIs for Q2 2025 include a 49% rise in net revenue per player compared to Q1 2025, a 7% quarter-over-quarter increase in wagers per player, and average monthly deposits per player in Q1 2025 that were more than 175% greater than the historical norm. In Q2 2025, it grew by an additional 28%.
Compared to the historical average, the monthly deposit frequency per player increased by 115% in Q1 2025 and by another 22% in Q2 2025.
