- Rivalry Corp (TSXV: RVLY) reduced operating expenses by 17% to $32.2 million in 2024.
- The company narrowed its net loss to $22.4 million from $23.8 million in the previous year.
- First-time depositors increased by 40% since January 2025.
Rivalry Corp (RVLY), the sports betting and media company, announced its financial results for the year ending December 31, 2024. Despite a drop in net revenue to $13.6 million from $16.2 million in 2023, the company reported a narrowing of its net loss to $22.4 million from $23.8 million. This improvement is largely attributed to a strategic turnaround that saw a 17% reduction in operating expenses, totaling $32.2 million.
With a comprehensive operational overhaul, Rivalry successfully reduced its monthly breakeven revenue requirement to $600,000 USD from a previous $2 million. Early 2025 metrics indicate a promising shift with a 40% growth in first-time depositors since January 2025, and an enhanced customer acquisition efficiency with a payback period of 1.5 months for new cohorts.
The company secured a US$475,000 unsecured loan at a 10% interest rate, maturing on September 30, 2025. This loan supports Rivalry’s ongoing strategic review aimed at maximizing shareholder value. Meanwhile, Rivalry's year-end cash position stood at $2.7 million, with further cost reductions planned to improve financial stability.
