05:19 PM EDT, 08/29/2025 (MT Newswires) -- Rivalry Corp ( RVLCF ) , an internationally regulated sports betting and media company, after trade Friday said its net loss had more than halved in the second quarter compared to a year earlier, while adding its strategic review "remains ongoing".

Net loss shrunk by near 60% to C$2.19 million for the quarter from a loss of $5.37 million last year.

The company recorded net revenues of $1.6 million, up 24% from $1.3 million for Q1 2025, despite a declining expense base and completely flat marketing spend.

Among other highlights, player monetization was at all-time highs, while operating expenses declined 62% YoY to $3.6 million, down from $9.5 million in Q2 2024, reflecting substantial cost reductions and improved operational focus.

Rivalry noted Q2 2025 marked its' second full quarter operating under its restructured business model initiated in late 2024, "centered on efficiency, improved player monetization, and deeper operational discipline". The company said results demonstrate the impact of this shift, with record net revenue per player, reduced expenses, and a significantly narrowed net loss. "We've rebuilt Rivalry into a lean, high-performance engine," said Steven Salz, Co-Founder and CEO. "Player monetization is at all-time highs, the product is stronger than ever, and we're doing more with less."

On its strategic review, Rivalry continues to explore a range of potential outcomes "aimed at maximizing shareholder value". It added there is no assurance regarding the timing or results from the review.

Rivalry Corp ( RVLCF ) shares were last seen trading at $0.04 on the TSX Venture Exchange.