Rivalry (RVLY) Q4 2024 earnings summary

Executive summary

• Operating expenses reduced by 17% in 2024, with net loss narrowing to $22.4 million from $23.8 million year-over-year.

• Foundational restructuring in late 2024 led to a leaner, more efficient organization entering 2025.

• Early 2025 shows improved player retention, monetization, and record net revenue per active user.

• Strategic turnaround initiatives are driving operational discipline and revenue efficiency.

Financial highlights

• Net revenue for 2024 was $13.6 million, down from $16.2 million in 2023.

• Operating expenses decreased to $32.2 million from $38.8 million year-over-year.

• Deferred revenue of $4.1 million from pre-sales of on-platform crypto token.

• Year-end cash position at $2.7 million, with lower run-rate expenses entering 2025.

Outlook and guidance

• Entering H2 2025 with a leaner cost structure and renewed operational focus.

• Additional updates expected with Q1 2025 results release by July 14, 2025.

• Strategic review of alternatives ongoing, with no assurance on timing or outcome.