Rivalry revealed record revenue of CA$12m in Q1 2023, the figure growing 151 per cent year-on-year.
Betting handle of $120.2m was also a record high, up 199 per cent from Q1 2022’s efforts.
Gross profit for the group grew to $5.4m, up 698 per cent year-on-year.
The group said registrations doubled year-on-year to 1.5 million users, with millennials and Gen Z players accounting for 97 per cent of active users.
Net loss was $3.3m, a 50 per cent drop from the $6.6m posted in Q1 2022 and the fifth successive fall in net loss.
Steven Salz, co-founder and CEO of Rivalry, said: “Our position at the intersection of esports and entertainment continues to create operating leverage in the business and drive organic growth as seen in our most impressive quarterly results to date.”
He added: “Building innovative products, which add to an overall unique and interactive betting experience on Rivalry, will remain a strategic focus in 2023.
“The competitive advantage of engaging and fun products is increased user activity and satisfaction, and when combined with a profitable acquisition strategy, creates a flywheel effect in the business generating consistent organic momentum and enhancing our operational efficiency.”
