Rivalry Corp., based in Toronto, published its financial results for Q1 2025 (which concluded on March 31, 2025), highlighting what the company describes as the newly discovered advantages of its revised 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 reached CA$1.3 million, while operating expenses fell by 58% year over year to CA$4 million in the first quarter of 2025. Net loss decreased by 43% to CA$3 million, down from CA$5.2 million in Q1 2024.
More Compact Corporate Structure Reduces Expenses
The organization finished a revamp of its product, brand, and marketing as it approaches 2025. This encompassed a crypto-centric approach along with an enhanced emphasis on top-tier players.
Rivalry launched an updated registration process, login system, sportsbook, a cryptocurrency-focused cashier, reimagined casino selection, and an extensive VIP rewards program.
The majority of the adjustments have been carried out. In a statement, the company mentioned that these involve a more streamlined operating model with breakeven net revenue set at US$600K monthly, reduced from US$2 million monthly one year prior.
Job cuts in 2024
In 2024, the company executed staffing layoffs, releasing 28 employees in October, following a reduction of 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 Increased in Q2 2025
Key KPIs for Q2 2025 show a 49% rise in net revenue per player compared to Q1 2025, while wagers per player increased by 7% sequentially, and average monthly deposits per player in Q1 2025 exceeded the historical average by over 175%. In the second quarter of 2025, that rose an additional 28%.
The monthly deposit frequency per player in Q1 2025 increased by 115% compared to the historical average, and saw an additional rise of 22% in Q2 2025.
