https://staging.twogpedia.com/index.php?action=history&feed=atom&title=News%2FRivalry_Reveals_Q2_2023_Financial_Results 2026-07-09T17:04:05Z Revision history for this page on the wiki MediaWiki 1.45.1 https://staging.twogpedia.com/index.php?title=News/Rivalry_Reveals_Q2_2023_Financial_Results&diff=5843&oldid=prev 2023-08-31T10:57:10Z

<p>Created page with &quot;{{News |seo_title=Rivalry Reveals Q2 2023 Financial Results |seo_keywords=Rivalry |seo_description=Rivalry Reveals Q2 2023 Financial Results |image=Gaming.png |tags=Rivalry |date=2023-08-31T09:18:33.000Z |sources={{NewsSource |source=Intrado Globenewswire |url=https://www.globenewswire.com/news-release/2023/08/29/2733234/0/en/Rivalry-Reports-192-Growth-in-Handle-and-60-Growth-in-Revenue-for-Q2-2023-Projects-Profitability-in-H1-2024.html |article=Rivalry Reveals Q2 2023 F...&quot;</p> <p><b>New page</b></p><div>{{News<br /> |seo_title=Rivalry Reveals Q2 2023 Financial Results<br /> |seo_keywords=Rivalry<br /> |seo_description=Rivalry Reveals Q2 2023 Financial Results<br /> |image=Gaming.png<br /> |tags=Rivalry<br /> |date=2023-08-31T09:18:33.000Z<br /> |sources={{NewsSource<br /> |source=Intrado Globenewswire<br /> |url=https://www.globenewswire.com/news-release/2023/08/29/2733234/0/en/Rivalry-Reports-192-Growth-in-Handle-and-60-Growth-in-Revenue-for-Q2-2023-Projects-Profitability-in-H1-2024.html<br /> |article=Rivalry Reveals Q2 2023 Financial Results<br /> }}<br /> |author=Andura<br /> |category=Business,Companies<br /> |content=Rivalry revealed its Q2 2023 financial results. The company reported,<br /> <br /> * 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.<br /> * 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.<br /> * 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.<br /> * 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.<br /> * 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.<br /> }}</div>

Andura