Rivalry Reveals Q2 2023 Financial Results

Business Companies

31 August 2023 09:18

Rivalry revealed its Q2 2023 financial results. The company reported,

Betting handle for the three-month period ended June 30, 2023 was $112.2 million, an increase of $73.8 million or 192% from $38.4 million in Q2 2022, while reducing marketing spend 6% year-over-year.
Casino has helped offset historical esports seasonality slowdown in Q2, contributing toward revenue diversity and growth, adding $57.5 million in handle during the second quarter.
Revenue was $8.5 million in Q2 2023, a record result for a second quarter, representing an increase of $3.2 million or 60% from $5.3 million of revenue in Q2 2022.
Gross profit was $3.8 million in Q2 2023, an increase of $1.8 million or 86% from $2.1 million of gross profit in Q2 2022.
Net loss was $6.3 million for Q2 2023, a 1% increase from the net loss of $6.2 million in Q2 2022. A select number of low probability esports and sports outcomes, alongside unique behavioral betting habits from Gen Z users, caused increased margin volatility and negatively impacted revenue, which combined with several one-time expenses expanded the Company’s net loss.

Tags: Rivalry

Share:

Sources:

Report mistake Submit news

Rivalry has announced a partnership with former CS: GO pro Mohan “Launders” Govindasamy, to present the Launders LAN tournament. This...

Uncategorized

Feb 27, 2024

Rivalry, has joined forces with Filipe ‘Ranger’ Brombilla de Barrios, a former professional League of Legends player and content creator,...

Business

Feb 06, 2024

Grant Flannery joined Rivalry. He is named as the Global Head of Marketing. Flannery previously worked as VP of Brand...

Hires

Sep 08, 2023

TL;DR * Microsoft's Q3 FY2026 earnings report shows Xbox revenue at $5.34 billion, down 10.4% from $5.96 billion the previous...

Business

Apr 30, 2026

TL;DR * BNK FearX's 18-year-old mid laner Diable was demoted to the youth roster on April 28 following a missed...

Business

Apr 29, 2026

Rivalry Reveals Q2 2023 Financial Results

Business Companies

31 August 2023 09:18

Tags: Rivalry

Rivalry revealed its Q2 2023 financial results. The company reported,

Betting handle for the three-month period ended June 30, 2023 was $112.2 million, an increase of $73.8 million or 192% from $38.4 million in Q2 2022, while reducing marketing spend 6% year-over-year.
Casino has helped offset historical esports seasonality slowdown in Q2, contributing toward revenue diversity and growth, adding $57.5 million in handle during the second quarter.
Revenue was $8.5 million in Q2 2023, a record result for a second quarter, representing an increase of $3.2 million or 60% from $5.3 million of revenue in Q2 2022.
Gross profit was $3.8 million in Q2 2023, an increase of $1.8 million or 86% from $2.1 million of gross profit in Q2 2022.
Net loss was $6.3 million for Q2 2023, a 1% increase from the net loss of $6.2 million in Q2 2022. A select number of low probability esports and sports outcomes, alongside unique behavioral betting habits from Gen Z users, caused increased margin volatility and negatively impacted revenue, which combined with several one-time expenses expanded the Company’s net loss.

Share:

Sources:

Report mistake Submit news