Rivalry has dropped its Q1 2025 numbers, and there’s a lot to unpack. The Toronto-based betting and media firm has been busy reshaping its business into a leaner, sharper machine. With the new approach paying off, Rivalry Q1 2025 results reveal how the company is pushing for long-term scale and stronger unit economics.

• Rivalry Q1 2025 results show net revenue of $1.3 million, in line with earlier updates. The company points to temporary sportsbook margin swings as a topline drag but highlights better underlying KPIs. CEO Steven Salz said Rivalry is “a fundamentally different company built for scalability.”

• Operating expenses in Q1 2025 dropped 58% year-over-year to $4 million from $9.6 million. Rivalry also trimmed its net loss by 43% to $3 million compared to $5.2 million a year ago. Much of the quarter’s spending was tied to non-recurring items like audit fees and older payables.

• The average Customer Acquisition Cost payback was around 1.5 months in H1 2025. Rivalry credits this to better funnel conversion and stronger retention even under tight budgets. Adjusted marketing spend in Q1 was roughly $175,000, showing a disciplined approach.

• In Q2 2025, Rivalry set new highs in user economics. Net revenue per player jumped 49% quarter-over-quarter and was 210% above pre-rebuild averages. Wagers per player rose 7% versus Q1 and nearly 300% compared to old levels.

• Average monthly deposits per player in Q1 were 175% higher than historical figures, increasing another 28% in Q2. Deposit frequency per player in Q1 was up 115% versus the old average and rose another 22% in Q2. The company’s Business Intelligence and CRM tools played a big role in this shift.

• Rivalry Q1 2025 results also highlighted a lower breakeven net revenue of about $600,000 USD per month, down from over $2 million a year ago. Additional cost cuts are on deck for Q3 to push this further. Salz noted that Rivalry is now “high-leverage” and “operating on a structurally lower fixed-cost base.”

• The company is reviewing strategic options to boost shareholder value, including non-dilutive capital moves. Rivalry wants to accelerate growth while keeping capital deployment tight. Planned new initiatives include a promo engine, new casino engagement features, and geo-focused reactivations.

• Rivalry plans to double down on VIP segmentation and lifecycle engagement. The new CRM and promo tools are expected to help unlock further player value. The company also holds strong licenses in Ontario and the Isle of Man, supporting its international ambitions.

• Looking at H2 2025, Rivalry is gearing up for cost optimizations and new marketing activations. The company’s transformation has created a strong base for scale, underpinned by a unified team and proprietary tech. Rivalry aims to stay on track with its vision of becoming a differentiated global operator.

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