NYSE:ROLR
High Roller Technologies Announces Financial Results for the Three Months Ended September 30, 2024
-Company Delivers 30% Quarter-Over-Quarter Revenue Growth
-Filing Follows High Roller’s Recent IPO on NYSE in October 2024 Raising Gross Proceeds of $10 Million
Las Vegas, Nevada, Dec. 04, 2024 (GLOBE NEWSWIRE) — High Roller Technologies, Inc. (“High Roller” and the “Company”) (NYSE American: ROLR), operator of www.HighRoller.com and www.Fruta.com, each a premium brand in online gaming and a destination for high rollers, announced today that it has filed its financial results for the three months ended September 30, 2024.
Third Quarter 2024 Summary
- Company reported total revenue of $7.5 million for the three months ended September 30, 2024, consisting of net gaming revenue and services generated through intra-group arrangements
- 30% increase in quarter-over-quarter revenue resulting from the Company’s continued focus on marketing efficiencies and cost optimization
- Net loss per share of ($0.07) for the three months ended September 30, 2024, compared to net loss per share of ($0.03) for the three months ended September 30, 2023
- Company ended the quarter with cash, cash equivalents of $2.9 million, inclusive of restricted cash
- Achieved positive Adjusted EBITDA for the three months ended September 30, 2024 of $40 thousand, marking a significant improvement from the negative EBITDA of ($1.0 million) reported in the three months ended June 30, 2024
Third Quarter 2024 Financial Summary
The Company reported revenue from operations of $7.5 million for the third quarter ending September 30, 2024, reflecting a 30% increase over the previous quarter’s revenue of $5.8 million.
Revenue from operations for the three months ended September 30, 2024 was $7.5 million, compared to $7.6 million for the three months ended September 30, 2023, representing a slight decrease of less than 1%. Growth in primary gaming markets offset the impact of High Roller’s exit from a jurisdiction due to regulatory changes in late 2023.
Operating expenses for the three months periods ended June 30, 2024 and September 30, 2024 were $7.3 million and $8.0 million respectively and were $7.8 million for the three months ended September 30, 2023 driven by increased investment into advertising and promotional costs in key markets to increase player acquisition.
For the three months ended September 30, 2024, the Company recorded a GAAP net loss of $(0.5 million) as compared to a GAAP net loss of $(0.2 million) for the three months ended September 30, 2023. Sequentially, the Company reported a GAAP net loss of $(1.5 million) in the three months ended June 30, 2024. During the three months ended September 30, 2024, the Company achieved Adjusted EBITDA of $40 thousand, marking an improvement from ($1.0 million) in Adjusted EBITDA deficit reported in three months ended June 30, 2024. Additionally, as compared to the three months ended June 30, 2023, the Company reported Adjusted EBITDA of $0.2 million in the three months ended June 30, 2024. This improvement over consecutive quarters was driven by cost optimization efforts and disciplined operational execution.
The Company reported a net loss per share of ($0.07) in three months ended September 30, 2024, compared to a net loss per share of ($0.03) in the three months ended September 30, 2023.
At the close of September 30, 2024, the Company reported $2.9 million in cash and cash equivalents, including restricted cash. This amount does not give effect to proceeds received by the Company from its IPO that closed in October 2024 and that raised gross proceeds of $10 million to support strategic growth initiatives.
Ben Clemes, Chief Executive Officer at High Roller Technologies, commented, “We’re extremely proud to have completed our recent IPO on the NYSE, a milestone that reflects the confidence and trust of our shareholders. We sincerely thank our investors for their support as we move into this exciting new chapter. We believe that our quarter-over-quarter most accurately reflects the direction of our Company as we focused on optimizing costs and creating more efficient and effective marketing efforts to grow our user base. Looking ahead, we remain committed to executing our growth strategy, delivering value to our stakeholders, and driving innovation in the gaming industry.’”
Financial Results
Additional information with respect to the Company’s business, operations and financial condition as of and for the three months and nine months ended September 30, 2023 is contained in the Company’s Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2024, which has been filed with the U.S. Securities and Exchange Commission (the “SEC”) at www.sec.gov.
About High Roller Technologies, Inc.
High Roller Technologies, Inc. operates as a global online gaming operator. The Company offers a compelling real money online casino platform with enhanced search engine optimization, direct API integrations, faster load times, and better scalability. High Roller Technologies has a global customer base.
Forward Looking Statements
Certain statements in this press release constitute “forward-looking statements” within the meaning of the federal securities laws. Words such as “may,” “might,” “will,” “should,” “believe,” “expect,” “anticipate,” “estimate,” “continue,” “predict,” “forecast,” “project,” “plan,” “intend” or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company’s filings with the SEC, not limited to Risk Factors relating to its business contained therein. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.
Use of Non-GAAP Financial Measures
To supplement the Company’s consolidated financial statements presented in accordance with GAAP, High Roller Technologies uses non-GAAP measures of certain components of financial performance. These non-GAAP measures include non-GAAP adjusted EBITDA. Reconciliations to the nearest GAAP measures of all non-GAAP measures included in this press release can be found in the tables below.
Non-GAAP measures are provided to enhance investors’ overall understanding of the Company’s current financial performance, prospects for the future and as a means to evaluate period-to-period comparisons. The Company believes that “Adjusted EBITDA,” a “non-GAAP financial measure,” as such term is defined under the rules of the U.S. Securities and Exchange Commission (the “SEC”), is useful in evaluating our operating performance. Adjusted EBITDA is used to evaluate the Company’s ongoing operations and for internal planning and forecasting purposes. Adjusted EBITDA is presented for supplemental informational purposes only, has limitations as an analytical tool, and should not be considered in isolation or as a substitute for financial information presented in accordance with GAAP. In addition, other companies, including companies in our industry, may calculate similarly titled non-GAAP measures differently or may use other measures to evaluate their performance, all of which could reduce the usefulness of our non-GAAP financial measures as tools for comparison. Investors are encouraged to review the related GAAP financial measures and the reconciliation of these non-GAAP financial measures to their most directly comparable GAAP financial measures, and not to rely on any single financial measure to evaluate our business.
We reconcile our non-GAAP financial measure of Adjusted EBITDA to our net income (loss), adjusted to exclude interest expense, provision for (benefit from) income taxes, share-based compensation, foreign exchange loss (gain), depreciation and amortization, impairment, and certain charges or gains resulting from non-recurring or irregular events, if any. For the periods presented we did not have any such non-recurring events.
Contact:
[email protected]
800-460-1039
HIGH ROLLER TECHNOLOGIES, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)
(Unaudited)
| For the Three Months Ended | For the Nine Months Ended | |||||||||||||||
| September 30, | September 30, | |||||||||||||||
| (in thousands, except shares and per share data) | 2024 | 2023 | 2024 | 2023 | ||||||||||||
| Revenues | $ | 7,516 | $ | 7,569 | $ | 19,826 | $ | 22,484 | ||||||||
| Operating expenses | ||||||||||||||||
| Direct operating costs: | ||||||||||||||||
| Related party | 598 | 1,992 | 2,020 | 3,242 | ||||||||||||
| Other | 2,671 | 1,242 | 7,740 | 6,887 | ||||||||||||
| General and administrative: | ||||||||||||||||
| Related party | 2 | 59 | 167 | 309 | ||||||||||||
| Other | 1,877 | 2,436 | 7,169 | 7,212 | ||||||||||||
| Advertising and promotions: | ||||||||||||||||
| Related party | 194 | 1,222 | 408 | 1,570 | ||||||||||||
| Other | 2,289 | 629 | 5,367 | 3,786 | ||||||||||||
| Product and software development: | ||||||||||||||||
| Related party | 46 | 58 | 193 | 157 | ||||||||||||
| Other | 313 | 116 | 541 | 278 | ||||||||||||
| Total operating expenses | 7,990 | 7,754 | 23,605 | 23,441 | ||||||||||||
| Loss from operations | (474 | ) | (185 | ) | (3,779 | ) | (957 | ) | ||||||||
| Other expenses | ||||||||||||||||
| Interest expense, net | (27 | ) | (29 | ) | (77 | ) | (91 | ) | ||||||||
| Other income (expenses) | — | 15 | 2 | (39 | ) | |||||||||||
| Total other expenses | (27 | ) | (14 | ) | (75 | ) | (130 | ) | ||||||||
| Loss before income taxes | (501 | ) | (199 | ) | (3,854 | ) | (1,087 | ) | ||||||||
| Income tax expense | — | 9 | — | 9 | ||||||||||||
| Net loss | $ | (501 | ) | $ | (208 | ) | $ | (3,854 | ) | $ | (1,096 | ) | ||||
| Other comprehensive income | ||||||||||||||||
| Foreign currency translation adjustment | 145 | (123 | ) | 17 | (121 | ) | ||||||||||
| Comprehensive loss | $ | (356 | ) | $ | (331 | ) | $ | (3,837 | ) | $ | (1,217 | ) | ||||
| Net loss per common share: | ||||||||||||||||
| Net loss per common share – basic and diluted | $ | (0.07 | ) | $ | (0.03 | ) | $ | (0.55 | ) | $ | (0.17 | ) | ||||
| Weighted average common shares outstanding – basic and diluted | 7,013,302 | 6,951,385 | 7,005,541 | 6,533,276 | ||||||||||||
HIGH ROLLER TECHNOLOGIES, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
| As of | As of | |||||||
| September 30, | December 31, | |||||||
| (in thousands, except shares and per share data) | 2024 | 2023 | ||||||
| (Unaudited) | ||||||||
| Assets | ||||||||
| Current assets | ||||||||
| Cash and cash equivalents | $ | 1,329 | $ | 2,087 | ||||
| Restricted cash | 1,592 | 1,958 | ||||||
| Prepaid expenses and other current assets | 977 | 836 | ||||||
| Total current assets | 3,898 | 4,881 | ||||||
| Due from affiliates | 1,227 | 702 | ||||||
| Deferred offering costs | 1,058 | 580 | ||||||
| Property and equipment, net | 399 | 250 | ||||||
| Operating lease right-of-use asset, net | 1,029 | — | ||||||
| Intangible assets, net | 5,235 | 5,117 | ||||||
| Other assets | 45 | 255 | ||||||
| Total assets | $ | 12,891 | $ | 11,785 | ||||
| Liabilities and stockholders’(deficit) equity | ||||||||
| Current liabilities | ||||||||
| Accounts payable | $ | 1,658 | $ | 686 | ||||
| Accrued expenses | 4,522 | 4,300 | ||||||
| Player liabilities | 791 | 499 | ||||||
| Due to affiliates | 5,090 | 3,972 | ||||||
| Short-term unsecured notes payable to stockholders | 500 | — | ||||||
| Operating leases obligation, current | 113 | — | ||||||
| Total current liabilities | 12,674 | 9,457 | ||||||
| Other liabilities | 23 | 23 | ||||||
| Operating lease obligation, noncurrent | 973 | — | ||||||
| Total liabilities | 13,670 | 9,480 | ||||||
| Stockholders’ (deficit) equity | ||||||||
| Preferred stock, $0.001 par value; 10,000,000 shares authorized; none issued and outstanding as of September 30, 2024 and December 31, 2023 | — | — | ||||||
| Common stock, $0.001 par value; 60,000,000 shares authorized; 7,015,017 shares and 6,967,278 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively | 7 | 7 | ||||||
| Additional paid-in capital | 22,805 | 22,052 | ||||||
| Accumulated deficit | (25,074 | ) | (21,220 | ) | ||||
| Accumulated other comprehensive income | 1,483 | 1,466 | ||||||
| Total stockholders’ (deficit) equity | (779 | ) | 2,305 | |||||
| Total liabilities and stockholders’ (deficit) equity | $ | 12,891 | $ | 11,785 | ||||
HIGH ROLLER TECHNOLOGIES, INC. AND SUBSIDIARIES
GAAP NET LOSS TO NON-GAAP ADJUSTED EBITDA
(Unaudited)
| For the Three Months Ended September 30, | ||||||||
| (in thousands) | 2024 | 2023 | ||||||
| Revenues | $ | 7,516 | $ | 7,569 | ||||
| Net loss | (501 | (208 | ) | |||||
| Add back items: | ||||||||
| Stock-based compensation expense | 80 | 60 | ||||||
| Depreciation and amortization | 65 | 2 | ||||||
| Interest expense, net | 27 | 29 | ||||||
| Other income (expense), net | – | 15 | ||||||
| Foreign exchange transaction loss | 369 | 327 | ||||||
| Income tax provision (benefit) | – | 9 | ||||||
| Adjusted EBITDA | $ | 40 | $ | 234 | ||||
| Adjusted EBITDA margin | 1 | % | 3 | % | ||||
| ● | Q2 2025 revenue increased 20% YoY to $6.9 million, H1 2025 revenue increased 11% YoY to $13.7 million | |
| ● | Significant turnaround from Q1 as strategic optimization and realignment initiatives delivered increased revenue, decreased operating costs, and positive Adjusted EBITDA of $362 thousand | |
| ● | Key achievements support positive outlook for Company performance and financial results | |
| ● | Strong tailwinds as Company trends towards H2 2025 launch in Ontario, world’s 6th largest regulated online gambling market |
Las Vegas, Nevada, Aug. 12, 2025 (GLOBE NEWSWIRE) — High Roller Technologies (“High Roller” and the “Company”) (NYSE: ROLR), operator of premium online casino brands High Roller and Fruta, today reported its financial results for the second quarter ended June 30, 2025. High Roller currently offers more than 5,600 games from over 90 game providers, representing one of the widest online casino game portfolios in the world, including video slots, blackjack, roulette, baccarat, craps, video poker, and more.
Ben Clemes, Chief Executive Officer at High Roller Technologies, commented, “High Roller had a solid second quarter, and I am thrilled that our strategic plan is beginning to deliver the intended results. After embarking upon our strategic realignment in Q1, High Roller was able to achieve positive adjusted EBITDA in Q2, underpinned by increased revenue, optimized marketing spend, and the realization of significant cost efficiencies. This tremendous outcome reinforces our belief in the business and its future prospects.”
Throughout Q2, High Roller’s strong execution has led to consistent improvement in key performance indicators across all business operations, most notably in Finland, one of the core markets of focus. Further, the Company continued to significantly strengthen its executive leadership team with experienced key hires as part of laying the groundwork for its long-term, sustainable growth.
“Looking forward, we believe launching in Ontario will be transformative for High Roller, particularly in the context of our partnership with SpikeUp Media,” said Clemes. “We’re also exploring other interesting strategic opportunities for further expansion. The Company is entering a new era, and our confidence in High Roller’s future is at an all-time high.”
Q2 2025 Highlights
| ● | The Company strengthened its leadership team with the hiring of Sarah Stienon (Chief Legal & Compliance Officer), Adam Felman (Chief Financial Officer), Seth Young (Chief Strategy Officer), Sara Nunes (Managing Director & Chief Commercial Officer, Finland), and Carlo Scappaticci (Managing Director, Canada). | |
| ● | Significantly decreased operating expenses and significantly slowed cash burn by optimizing marketing strategies, streamlining operating costs. | |
| ● | Average Revenue Per User (“ARPU”) increased approximately 80% QoQ. | |
| ● | Announced a strategic technology partnership with Playtech to enter Ontario’s regulated online casino market, with launch anticipated H2 2025. | |
| ● | High Roller added 330 new games, bringing its leading portfolio to over 5,600 games from over 90 providers. | |
| ● | Commenced a brand refresh and revitalization of High Roller and Fruta in anticipation of regulated market expansion. | |
| ● | Finalized preparations to launch a third, locally anchored brand in Q3 as part of the Company’s strategic focus. | |
| ● | Re-optimization and reallocation of marketing spend in Q2 generated a 65% YoY increase in Finland Net Gaming Revenue from the previous 6-month corresponding period ending June 30, 2024, leading into a regulated market pre-application process. | |
| ● | Announced the selection of XPoint for geolocation services; Checkin.com for ID Verification services; content partnership with Gaming Realms; and partnership with Kinectify to strengthen AML compliance in Ontario. |
Second Quarter 2025 Financial Summary
| ● | The Company reported total revenue of $6.9 million for the second quarter ended June 30, 2025, an increase of 20%, as compared to $5.8 million during the same quarter that ended June 30, 2024, and an increase of approximately 2% as compared to the first quarter ended March 31, 2025. | |
| ● | The Company reported Adjusted EBITDA of $362 thousand for the three months ended June 30, 2025, compared to an Adjusted EBITDA loss of $931 thousand for the three months ended June 30, 2024, and an Adjusted EBITDA loss of approximately $2.5 million for the three months ended March 31, 2025. | |
| ● | The Company reported adjusted earnings per share of $0.04 for the three months ended June 30, 2025, compared to adjusted loss per share of ($0.13) for the three months ended June 30, 2024, and adjusted loss per share of ($0.30) for the three months ended March 31, 2025. | |
| ● | Cash and cash equivalents totaled approximately $3.6 million, $934 thousand of which is restricted as of June 30, 2025, as compared to $4.5 million, $1.0 million of which was restricted, as of March 31, 2025. |
Financial Results
Additional information with respect to the Company’s business, operations and financial condition as of and for the three months ended June 30, 2025, is contained in the Company’s Quarterly Report on Form 10-Q for the three month period ended June 30, 2025, which has been filed with the U.S. Securities and Exchange Commission (the “SEC”) at www.sec.gov.
About High Roller Technologies, Inc.
High Roller Technologies, Inc. is a leading global online gaming operator known for its innovative casino brands, High Roller and Fruta, listed under the ticker ROLR on the NYSE. The Company delivers a cutting-edge real-money online casino platform that is intuitive and user-friendly. With a diverse portfolio of over 5,600 premium games from more than 90 leading game providers, High Roller Technologies serves a global customer base, offering an immersive and engaging gaming experience in the rapidly expanding multi-billion iGaming industry. The online casino features enhanced search engine optimization, machine learning, seamless direct API integrations, faster load times, and superior scalability.
As an award-winning operator, High Roller Technologies continues to redefine the future of online gaming through innovation, performance, and a commitment to excellence. For more information, please visit the High Roller Technologies, Inc. investor relations website, X, Facebook, and LinkedIn pages.
Forward Looking Statements
Certain statements in this press release constitute “forward-looking statements” within the meaning of the federal securities laws. Words such as “may,” “might,” “will,” “should,” “believe,” “expect,” “anticipate,” “estimate,” “continue,” “predict,” “forecast,” “project,” “plan,” “intend” or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include such factors as discussed throughout Part I, Item 1A. Risk Factors and Part II, Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations of our Annual Report on Form 10-K for the year ended December 31, 2024 and throughout Part I, Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations and in Part II, Item 1A. Risk Factors of our Quarterly Report on Form 10-Q for the quarter ended June 30, 2025. Any forward-looking statement made by us in this press release is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.
Contact:
[email protected]
800-460-1039
HIGH ROLLER TECHNOLOGIES, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)
(Unaudited)
| For the Three Months Ended | For the Six Months Ended | |||||||||||||||
| June 30, | June 30, | |||||||||||||||
| (in thousands, except share and per share data) | 2025 | 2024 | 2025 | 2024 | ||||||||||||
| Revenues, net | $ | 6,936 | $ | 5,803 | $ | 13,707 | $ | 12,310 | ||||||||
| Operating expenses | ||||||||||||||||
| Direct operating costs: | ||||||||||||||||
| Related party | 451 | 670 | 898 | 1,422 | ||||||||||||
| Other | 2,523 | 2,493 | 4,756 | 5,069 | ||||||||||||
| General and administrative: | ||||||||||||||||
| Related party | 1 | 8 | 3 | 25 | ||||||||||||
| Other | 2,335 | 1,918 | 5,135 | 4,607 | ||||||||||||
| Advertising and promotions: | ||||||||||||||||
| Related party | 258 | 162 | 984 | 355 | ||||||||||||
| Other | 1,492 | 1,678 | 4,904 | 3,523 | ||||||||||||
| Product and software development: | ||||||||||||||||
| Related party | — | 57 | — | 147 | ||||||||||||
| Other | 378 | 297 | 741 | 467 | ||||||||||||
| Total operating expenses | 7,438 | 7,283 | 17,421 | 15,615 | ||||||||||||
| Loss from operations | (502 | ) | (1,480 | ) | (3,714 | ) | (3,305 | ) | ||||||||
| Other expenses | ||||||||||||||||
| Interest expense, net | (53 | ) | (24 | ) | (99 | ) | (50 | ) | ||||||||
| Other (expense) income | — | — | (1 | ) | 2 | |||||||||||
| Total other expenses | (53 | ) | (24 | ) | (100 | ) | (48 | ) | ||||||||
| Loss before income taxes | (555 | ) | (1,504 | ) | (3,814 | ) | (3,353 | ) | ||||||||
| Income tax expense | 37 | — | 54 | — | ||||||||||||
| Net loss | $ | (592 | ) | $ | (1,504 | ) | $ | (3,868 | ) | $ | (3,353 | ) | ||||
| Other comprehensive loss | ||||||||||||||||
| Foreign currency translation adjustment | (80 | ) | (40 | ) | (32 | ) | (128 | ) | ||||||||
| Comprehensive loss | $ | (672 | ) | $ | (1,544 | ) | $ | (3,900 | ) | $ | (3,481 | ) | ||||
| Net loss per common share: | ||||||||||||||||
| Net loss per common share – basic and diluted | $ | (0.07 | ) | $ | (0.21 | ) | $ | (0.46 | ) | $ | (0.48 | ) | ||||
| Weighted average common shares outstanding – basic and diluted | 8,408,820 | 7,012,430 | 8,402,945 | 7,001,102 | ||||||||||||
HIGH ROLLER TECHNOLOGIES, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
| As of | As of | |||||||
| June 30, | December 31, | |||||||
| (in thousands, except share and per share data) | 2025 | 2024 | ||||||
| (Unaudited) | ||||||||
| Assets | ||||||||
| Current assets | ||||||||
| Cash and cash equivalents | $ | 2,682 | $ | 6,869 | ||||
| Restricted cash | 934 | 1,085 | ||||||
| Prepaid expenses and other current assets | 239 | 825 | ||||||
| Total current assets | 3,855 | 8,779 | ||||||
| Due from affiliates | 1,331 | 1,624 | ||||||
| Property and equipment, net | 412 | 372 | ||||||
| Operating lease right-of-use asset, net | 931 | 910 | ||||||
| Intangible assets, net | 5,728 | 4,899 | ||||||
| Other assets | 51 | 41 | ||||||
| Total assets | $ | 12,308 | $ | 16,625 | ||||
| Liabilities and stockholders’ equity | ||||||||
| Current liabilities | ||||||||
| Accounts payable | $ | 874 | $ | 1,560 | ||||
| Accrued expenses | 4,390 | 4,307 | ||||||
| Player liabilities | 1,018 | 662 | ||||||
| Due to affiliates | 2,423 | 3,406 | ||||||
| Short-term unsecured notes payable to stockholders | — | 90 | ||||||
| Operating leases obligation, current | 175 | 143 | ||||||
| Total current liabilities | 8,880 | 10,168 | ||||||
| Other liabilities | 61 | 7 | ||||||
| Operating lease obligation, noncurrent | 737 | 729 | ||||||
| Total liabilities | 9,678 | 10,904 | ||||||
| Stockholders’ equity | ||||||||
| Preferred stock, $0.001 par value; 10,000,000 shares authorized; none issued and outstanding as of June 30, 2025 and December 31, 2024 | — | — | ||||||
| Common stock, $0.001 par value; 60,000,000 shares authorized; 8,460,675 shares and 8,350,882 shares issued and outstanding as of June 30, 2025 and December 31, 2024, respectively | 8 | 8 | ||||||
| Additional paid-in capital | 32,366 | 31,557 | ||||||
| Accumulated deficit | (31,011 | ) | (27,143 | ) | ||||
| Accumulated other comprehensive income | 1,267 | 1,299 | ||||||
| Total stockholders’ equity | 2,630 | 5,721 | ||||||
| Total liabilities and stockholders’ equity | $ | 12,308 | $ | 16,625 | ||||
HIGH ROLLER TECHNOLOGIES, INC. AND SUBSIDIARIES
GAAP NET LOSS TO NON-GAAP ADJUSTED EBITDA
Non-GAAP Financial Measures
This Report includes Adjusted EBITDA and Adjusted Earnings (Loss) Per Share, which are non-GAAP financial measures that we use to supplement our results presented in accordance with U.S. GAAP. We believe Adjusted EBITDA and Adjusted Earnings (Loss) Per Share are useful in evaluating our operating performance, similar to measures reported by our publicly-listed U.S. competitors, and regularly used by security analysts, institutional investors and other interested parties in analyzing operating performance and prospects. Adjusted EBITDA and Adjusted Earnings (Loss) Per Share are not intended to be a substitute for any U.S. GAAP financial measure. As calculated, they may not be comparable to other similarly titled measures of performance of other companies in other industries or within the same industry.
We define and calculate Adjusted EBITDA as net income (loss) before the impact of interest income and expense, income tax provision or benefit, and depreciation and amortization, and further adjusted for the following items: stock-based compensation; and other non-recurring and non-operating costs or income, as described in the reconciliation below.
We define and calculate Adjusted Earnings (Loss) Per Share as basic earnings (loss) per share attributable to common stockholders before the impact of amortization of acquired intangible assets; stock-based compensation; and other non-recurring and non-operating costs or income, as described in the reconciliation below.
We include non-GAAP financial measures because they are used by management to evaluate our core operating performance and trends and to make strategic decisions regarding the allocation of capital and new investments. Adjusted EBITDA and Adjusted Earnings (Loss) Per Share exclude certain expenses that are required in accordance with U.S. GAAP because they are non-recurring items (for example, in the case of severance costs), non-cash expenditures (for example, in the case of amortization of acquired intangible assets, depreciation and amortization and stock-based compensation), or non-operating items which are not related to our underlying business performance (for example, in the case of interest expense).
| For the Three Months Ended June 30, | For the Six Months Ended June 30, | |||||||||||||||
| (in thousands) | 2025 | 2024 | 2025 | 2024 | ||||||||||||
| Revenues | $ | 6,936 | $ | 5,803 | $ | 13,707 | $ | 12,310 | ||||||||
| Net loss | (592 | ) | (1,504 | ) | (3,868 | ) | (3,353 | ) | ||||||||
| Add back items: | ||||||||||||||||
| Stock-based compensation expense (1) | 501 | 148 | 809 | 673 | ||||||||||||
| Depreciation and amortization (2) | 84 | 57 | 160 | 107 | ||||||||||||
| Interest expense, net | 53 | 24 | 99 | 50 | ||||||||||||
| Income tax | 37 | — | 54 | — | ||||||||||||
| Foreign exchange transaction loss | 151 | 250 | 329 | 715 | ||||||||||||
| Other (3) | 128 | 94 | 256 | 93 | ||||||||||||
| Adjusted EBITDA | $ | 362 | $ | (931 | ) | $ | (2,161 | ) | $ | (1,715 | ) | |||||
| Adjusted EBITDA margin | 5.22 | % | (16.04 | )% | (15.77 | )% | (13.93 | )% | ||||||||
| Adjusted earnings (loss) per share | 0.04 | (0.13 | ) | (0.26 | ) | (0.24 | ) | |||||||||
| For the Three Months Ended March 31, | ||||||||
| (in thousands) | 2025 | 2024 | ||||||
| Revenues | $ | 6,771 | $ | 6,507 | ||||
| Net loss | (3,276 | ) | (1,849 | ) | ||||
| Add back items: | ||||||||
| Stock-based compensation expense (1) | 308 | 525 | ||||||
| Depreciation and amortization (2) | 76 | 50 | ||||||
| Interest expense, net | 46 | 26 | ||||||
| Income tax | 17 | — | ||||||
| Foreign exchange transaction loss | 178 | 465 | ||||||
| Other (3) | 128 | (1 | ) | |||||
| Adjusted EBITDA | $ | (2,523 | ) | $ | (784 | ) | ||
| Adjusted EBITDA margin | (37.26 | )% | (12.05 | )% | ||||
| Adjusted loss per share | (0.30 | ) | (0.11 | ) | ||||
(1) Includes restricted shares, stock options, equity-settled restricted share units, cash-settled restricted share units and equity-settled performance-based restricted share units granted to employees and directors (including related employer payroll taxes).
(2) Includes amortization of intangible assets generated through business acquisitions and depreciation of property and equipment, amortization of contract costs, and amortization of internally developed software and other intangible assets. Excludes amortization of right of use assets.
(3) Includes severance costs and non-recurring compensation payments and gain/loss on disposal of assets.
Las Vegas, Nevada, Aug. 08, 2025 (GLOBE NEWSWIRE) — High Roller Technologies (“High Roller” and the “Company”) (NYSE: ROLR), operator of the award-winning, premium online casino brands High Roller and Fruta, today announced that it will be presenting at the Sidoti Micro-Cap Virtual Conference being held August 20-21, 2025.
Event: Sidoti Micro-Cap Virtual Conference
Presentation Time: Thursday, August 21, 2025, at 11:30AM ET (Track 1)
Location: WEBCAST LINK
During the presentation, High Roller’s management will provide a Company overview with recent highlights and upcoming catalysts. During the conference management will also be available for 1×1 meetings with registered investors.
About Sidoti Events, LLC (“Events”) and Sidoti & Company, LLC (“Sidoti”):
In 2023, Sidoti & Company, LLC, Sidoti & Company, LLC (www.sidoti.com) formed a sister company, Sidoti Events, LLC in order to focus exclusively on its rapidly growing conference business and to more directly serve the needs of presenters and attendees. The relationship allows Events to draw on the 25 years of experience Sidoti had as a premier provider of independent securities research focused specifically on small and microcap companies and the institutions that invest in their securities, with most of its coverage in the 200 million-5 billion market cap range. Sidoti’s coverage universe comprises upwards of 200 names of which about one-third participate in the firm’s rapidly growing Company Sponsored Research (“CSR”) program. Events is a leading provider of corporate access through the eight investor conferences it hosts each year. By virtue of its direct ties to Sidoti, Event’s benefits from Sidoti’s small- and microcap-focused nationwide sales force, which has relationships with approximately 2,500 institutional clients in North America. This enables Events to provide multiple forums for meaningful interaction for small and microcap issuers and investors specifically interested in companies in the sector.
About High Roller Technologies, Inc.
High Roller Technologies, Inc. is a leading global online gaming operator known for its innovative casino brands, High Roller and Fruta, listed under the ticker ROLR on the NYSE. The Company delivers a cutting-edge real-money online casino platform that is intuitive and user-friendly. With a diverse portfolio of over 5,000 premium games from more than 90 leading game providers, High Roller Technologies serves a global customer base, offering an immersive and engaging gaming experience in the rapidly expanding multi-billion iGaming industry. The online casino features enhanced search engine optimization, machine learning, seamless direct API integrations, faster load times, and superior scalability.
As an award-winning operator, High Roller Technologies continues to redefine the future of online gaming through innovation, performance, and a commitment to excellence. For more information, please visit the High Roller Technologies, Inc. investor relations website, X, Facebook, and LinkedIn pages.
Forward Looking Statements
Certain statements in this press release constitute “forward-looking statements” within the meaning of the federal securities laws. Words such as “may,” “might,” “will,” “should,” “believe,” “expect,” “anticipate,” “estimate,” “continue,” “predict,” “forecast,” “project,” “plan,” “intend” or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company’s filings with the SEC, not limited to Risk Factors relating to its business contained therein. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.
Contact
[email protected]
800-460-1039
NYSE:ROLR
High Roller Schedules Conference Call to Discuss Second Quarter 2025 Financial Results and Business Update
Las Vegas, Nevada, July 24, 2025 (GLOBE NEWSWIRE) — High Roller Technologies (“High Roller” and the “Company”) (NYSE: ROLR), operator of the award-winning, premium online casino brands High Roller and Fruta, today announced that the Company will host a conference call regarding its second quarter 2025 financial results and business update on August 12, 2025 at 4:30 PM Eastern Time (ET).
To join the live conference call, please dial 877-407-6176 (U.S. and Canadian callers) or +1 201-689-8451 (international callers outside of the U.S. and Canada) 10 to 15 minutes prior to the scheduled call time. Participants can also click this link for instant telephone access to the event. The link will become active approximately 15 minutes prior to the start of the conference call. The conference ID# is 13755026.
Participating on the call will be Ben Clemes, Chief Executive Officer of High Roller Technologies, Adam Felman, Chief Financial Officer, and Seth Young, Chief Strategy Officer, who will discuss second quarter financial highlights and upcoming corporate developments for the quarter ended June 30, 2025. Management will also be available for a Q&A session during the call after Company remarks.
About High Roller Technologies, Inc.
High Roller Technologies, Inc. is a leading global online gaming operator known for its innovative casino brands, High Roller and Fruta, listed under the ticker ROLR on the NYSE. The Company delivers a cutting-edge real-money online casino platform that is intuitive and user-friendly. With a diverse portfolio of over 5,000 premium games from more than 90 leading game providers, High Roller Technologies serves a global customer base, offering an immersive and engaging gaming experience in the rapidly expanding multi-billion iGaming industry. The online casino features enhanced search engine optimization, machine learning, seamless direct API integrations, faster load times, and superior scalability.
As an award-winning operator, High Roller Technologies continues to redefine the future of online gaming through innovation, performance, and a commitment to excellence. For more information, please visit the High Roller Technologies, Inc. investor relations website, X, Facebook, and LinkedIn pages.
Forward Looking Statements
Certain statements in this press release constitute “forward-looking statements” within the meaning of the federal securities laws. Words such as “may,” “might,” “will,” “should,” “believe,” “expect,” “anticipate,” “estimate,” “continue,” “predict,” “forecast,” “project,” “plan,” “intend” or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company’s filings with the SEC, not limited to Risk Factors relating to its business contained therein. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.
Contact
[email protected]
800-460-1039
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