Rivalry Cuts Losses and Lifts Revenue in Q2 2025

Rivalry has reported its second quarter 2025 results, showing progress under its restructured business model. The operator lifted revenue and significantly narrowed losses, with management emphasizing a sharper focus on efficiency and player value.

Good to Know

• Net revenue rose 24% year-over-year to $1.2 million.
• Net loss narrowed 59% year-over-year to $1.6 million.
• Operating expenses dropped 62%, totaling $2.6 million.

For Q2 2025, Rivalry generated $1.2 million in net revenue, up from the same period last year. At the same time, net loss fell to $1.6 million, down 59% year-over-year. The company credited its turnaround to a more disciplined operating model introduced earlier this year.

Co-Founder and CEO Steven Salz said:

“We’ve rebuilt Rivalry into a lean, high-performance engine. Player monetization is at all-time highs, the product is stronger than ever, and we’re doing more with less.”

Operating expenses totaled $2.6 million in the quarter, representing a 62% decline compared to Q2 2024. Rivalry said the reductions reflect cost controls and operational focus, with no increase in marketing spend.

Rivalry reported improvements in multiple player metrics. Wagers per customer were up 7% compared to Q1 2025. Average monthly deposits grew 28% quarter-over-quarter, while deposit frequency rose 22%.

The operator also highlighted an average customer acquisition cost payback of 45 days in the first half of 2025, showcasing stronger conversion, retention, and player lifetime value.

Rivalry’s run-rate monthly operating expenses remained at $600,000, in line with its Q1 2025 figures. Adjusted general and administrative expenses for Q2 came in at $1.2 million, while adjusted technology and content costs totaled $320,276.

Management said the combination of lower costs and stronger monetization is laying the foundation for sustainable growth through the rest of 2025.

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