High Roller Reports Q1 2025 Results
High Roller Technologies (NYSE: ROLR), a premium online casino operator, reported its Q1 2025 financial results with revenue increasing 4% YoY to $6.77 million. The company widened its net loss to $3.3 million ($0.39 per share) compared to $1.8 million loss in Q1 2024. High Roller, which offers over 5,300 games from 90+ providers, saw its active user base grow 34% to nearly 30,000 users.
The company is executing a strategic shift to focus exclusively on regulated markets, including preparations for entry into Ontario's online gambling market in H2 2025. Management strengthened its team with industry veterans and initiated a brand refresh while reducing operating expenses through lower affiliate costs. The company holds $4.5 million in cash and equivalents, with $1.0 million restricted.
High Roller Technologies (NYSE: ROLR), un operatore di casinò online di alta gamma, ha comunicato i risultati finanziari del primo trimestre 2025 con un aumento del fatturato del 4% su base annua, raggiungendo 6,77 milioni di dollari. L'azienda ha registrato una perdita netta più ampia, pari a 3,3 milioni di dollari (0,39 dollari per azione), rispetto alla perdita di 1,8 milioni di dollari nel primo trimestre 2024. High Roller, che offre oltre 5.300 giochi di più di 90 fornitori, ha visto crescere la sua base di utenti attivi del 34%, arrivando a quasi 30.000 utenti.
L'azienda sta attuando un cambiamento strategico per concentrarsi esclusivamente sui mercati regolamentati, inclusi i preparativi per l'ingresso nel mercato del gioco online dell'Ontario nella seconda metà del 2025. Il management ha rafforzato il team con veterani del settore e ha avviato un restyling del marchio, riducendo al contempo le spese operative grazie a costi di affiliazione più bassi. L'azienda detiene 4,5 milioni di dollari in liquidità e equivalenti, di cui 1,0 milione vincolato.
High Roller Technologies (NYSE: ROLR), un operador premium de casinos en línea, reportó sus resultados financieros del primer trimestre de 2025 con ingresos que aumentaron un 4% interanual, alcanzando los 6,77 millones de dólares. La compañía amplió su pérdida neta a 3,3 millones de dólares (0,39 dólares por acción) en comparación con una pérdida de 1,8 millones en el primer trimestre de 2024. High Roller, que ofrece más de 5,300 juegos de más de 90 proveedores, vio crecer su base de usuarios activos un 34%, llegando a casi 30,000 usuarios.
La empresa está ejecutando un cambio estratégico para enfocarse exclusivamente en mercados regulados, incluyendo preparativos para ingresar al mercado de juegos en línea de Ontario en la segunda mitad de 2025. La gerencia fortaleció su equipo con veteranos de la industria e inició una renovación de la marca, al tiempo que redujo los gastos operativos mediante menores costos de afiliados. La compañía cuenta con 4,5 millones de dólares en efectivo y equivalentes, de los cuales 1,0 millón está restringido.
High Roller Technologies (NYSE: ROLR)는 프리미엄 온라인 카지노 운영사로서, 2025년 1분기 재무 실적을 발표하며 매출이 전년 동기 대비 4% 증가한 677만 달러를 기록했습니다. 회사는 2024년 1분기 180만 달러 손실에 비해 순손실이 확대되어 330만 달러 (주당 0.39달러) 손실을 기록했습니다. 90개 이상의 공급업체로부터 5,300개 이상의 게임을 제공하는 High Roller는 활성 사용자 수가 34% 증가하여 거의 3만 명에 달했습니다.
회사는 규제 시장에만 집중하는 전략적 전환을 실행 중이며, 2025년 하반기 온타리오 온라인 도박 시장 진출 준비를 진행하고 있습니다. 경영진은 업계 베테랑으로 팀을 강화하고 브랜드 리프레시를 시작했으며, 제휴 비용 절감을 통해 운영비를 줄였습니다. 회사는 450만 달러의 현금 및 현금성 자산을 보유하고 있으며, 이 중 100만 달러는 제한 자금입니다.
High Roller Technologies (NYSE : ROLR), un opérateur de casino en ligne haut de gamme, a publié ses résultats financiers du premier trimestre 2025 avec un chiffre d'affaires en hausse de 4 % en glissement annuel, atteignant 6,77 millions de dollars. La société a creusé sa perte nette à 3,3 millions de dollars (0,39 dollar par action) contre une perte de 1,8 million au premier trimestre 2024. High Roller, qui propose plus de 5 300 jeux de plus de 90 fournisseurs, a vu sa base d'utilisateurs actifs croître de 34 %, atteignant près de 30 000 utilisateurs.
L'entreprise opère une réorientation stratégique pour se concentrer exclusivement sur les marchés réglementés, notamment en préparant son entrée sur le marché des jeux en ligne de l'Ontario au second semestre 2025. La direction a renforcé son équipe avec des vétérans du secteur et lancé un rafraîchissement de la marque tout en réduisant les dépenses opérationnelles grâce à des coûts d'affiliation plus faibles. La société dispose de 4,5 millions de dollars en liquidités et équivalents, dont 1,0 million est restreint.
High Roller Technologies (NYSE: ROLR), ein Premium-Online-Casino-Betreiber, meldete seine Finanzergebnisse für das erste Quartal 2025 mit einem Umsatzanstieg von 4 % im Jahresvergleich auf 6,77 Millionen US-Dollar. Das Unternehmen vergrößerte seinen Nettoverlust auf 3,3 Millionen US-Dollar (0,39 US-Dollar pro Aktie) gegenüber einem Verlust von 1,8 Millionen US-Dollar im ersten Quartal 2024. High Roller, das über 5.300 Spiele von mehr als 90 Anbietern anbietet, verzeichnete ein Wachstum der aktiven Nutzerbasis um 34 % auf fast 30.000 Nutzer.
Das Unternehmen vollzieht eine strategische Neuausrichtung, um sich ausschließlich auf regulierte Märkte zu konzentrieren, einschließlich der Vorbereitung auf den Eintritt in den Online-Glücksspielmarkt von Ontario in der zweiten Hälfte des Jahres 2025. Das Management hat sein Team mit Branchenveteranen verstärkt und eine Markenauffrischung eingeleitet, während die Betriebskosten durch niedrigere Affiliate-Kosten gesenkt wurden. Das Unternehmen verfügt über 4,5 Millionen US-Dollar an Barmitteln und Äquivalenten, davon 1,0 Million US-Dollar gebunden.
- Active user base grew 34% YoY to nearly 30,000 users
- Revenue increased 4% YoY to $6.77 million
- Decreased direct operating expenses through lower third-party affiliate costs
- Strategic expansion into regulated markets with Ontario launch planned for H2 2025
- Portfolio expanded to over 5,300 games from 90+ providers
- Net loss widened to $3.3 million from $1.8 million YoY
- Loss per share increased to $0.39 from $0.26 YoY
- Limited cash position of $4.5 million with $1.0 million restricted
- Winding down operations in certain markets may impact short-term revenue
Insights
High Roller shows modest 4% revenue growth but widening losses amid strategic pivot to regulated markets.
Looking at High Roller Technologies' Q1 2025 results, there's a mixed financial picture that warrants careful analysis. Revenue increased by
The concerning aspect is the significant deterioration in profitability. The net loss expanded to
Cash position stands at
On the operational side, the
The company's strategic shift to regulated markets represents a double-edged sword. While it potentially reduces regulatory risk and could improve long-term stability, the transition period is clearly creating financial strain. The company expects improved cash flow and margins in H2 2025, but investors should watch carefully whether the Ontario launch and other initiatives can reverse the current negative trend in profitability before cash reserves become stressed.
| ● | Q1 2025 revenue increased | |
| ● | Commenced reorganization and strategic shift to regulated market operating profile | |
| ● | Successfully submitted initial licensing application to access Ontario’s regulated online gambling market | |
Las Vegas, Nevada, May 15, 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 first quarter ended March 31, 2025. High Roller currently offers more than 5,300 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, “Beginning in Q1 and leading into Q2, we began executing against a strategic plan and staff reorganization to focus exclusively on high-potential regulated markets. We expect this will lower both operating cost and risk, and position the Company for scalable, sustainable long-term growth. While we experienced modest revenue growth as compared to Q1 2024 and we acknowledge the widened operating loss, we expect to increase our cash flow and margin in the second half of 2025 commensurate with the ongoing strategic plan.”
As part of this strategic plan, High Roller has started the process of winding down operations in the last remaining non-growth markets. Additionally, the Company has commenced its preparations to focus on regulated market opportunities in Canada and Finland, highlighted by the completion and submission of the Company’s initial licensing application in Ontario. Subject to licensure and regulatory approval, the Company plans to launch operations in Ontario in H2 2025, significantly expanding its total addressable revenue opportunity.
“Launching in Ontario is our first step into North America,” said Clemes. “We’re also thrilled to see Alberta take action to open a competitive regulated market. The momentum we built towards the end of Q1 has carried into Q2, and we’re gaining strength.”
Q1 2025 Highlights
| ● | The Company strengthened its leadership team with the hiring of industry veterans Emily Micallef (Chief of Staff), and Seth Young (SVP Corporate Strategy & Investor Relations). | |
| ● | Successfully submitted its initial licensing application to enter the Ontario online gambling market. | |
| ● | Added 761 new games, bringing its leading portfolio to over 5,300 games from over 90 providers. | |
| ● | In Q1 we had nearly 30,000 active users, a | |
| ● | Significantly decreased direct operating expenses due to lower third-party affiliate costs | |
| ● | Commenced a brand refresh and revitalization of High Roller and Fruta in anticipation of regulated market expansion | |
| ● | Commenced re-optimization and reallocation of marketing spend leading into Q2 | |
First Quarter 2025 Financial Summary
| ● | The Company reported total revenue of | |
| ● | The net loss was | |
| ● | The Company reported a net loss per share of | |
| ● | Cash and cash equivalents totaled | |
Financial Results
Additional information with respect to the Company’s business, operations and financial condition as of and for the three months ended March 31, 2025 is contained in the Company’s Quarterly Report on Form 10-Q for the three month period ended March 31, 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 5,000 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. 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 March 31, 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:
ir@highroller.com
800-460-1039
HIGH ROLLER TECHNOLOGIES, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)
(Unaudited)
| For the Three Months Ended | ||||||||
| March 31, | ||||||||
| (in thousands, except share and per share data) | 2025 | 2024 | ||||||
| Revenues, net | $ | 6,771 | $ | 6,507 | ||||
| Operating expenses | ||||||||
| Direct operating costs: | ||||||||
| Related party | 447 | 752 | ||||||
| Other | 2,233 | 2,577 | ||||||
| General and administrative: | ||||||||
| Related party | 2 | 17 | ||||||
| Other | 2,800 | 2,689 | ||||||
| Advertising and promotions: | ||||||||
| Related party | 726 | 193 | ||||||
| Other | 3,412 | 1,844 | ||||||
| Product and software development: | ||||||||
| Related party | — | 90 | ||||||
| Other | 363 | 170 | ||||||
| Total operating expenses | 9,983 | 8,332 | ||||||
| Loss from operations | (3,212 | ) | (1,825 | ) | ||||
| Other expenses | ||||||||
| Interest expense, net | (46 | ) | (26 | ) | ||||
| Other (expense) income | (1 | ) | 2 | |||||
| Total other expenses | (47 | ) | (24 | ) | ||||
| Loss before income taxes | (3,259 | ) | (1,849 | ) | ||||
| Income tax expense | 17 | — | ||||||
| Net loss | $ | (3,276 | ) | $ | (1,849 | ) | ||
| Other comprehensive income (loss) | ||||||||
| Foreign currency translation adjustment | 48 | (88 | ) | |||||
| Comprehensive loss | $ | (3,228 | ) | $ | (1,937 | ) | ||
| Net loss per common share: | ||||||||
| Net loss per common share – basic and diluted | $ | (0.39 | ) | $ | (0.26 | ) | ||
| Weighted average common shares outstanding – basic and diluted | 8,374,928 | 6,992,893 | ||||||
HIGH ROLLER TECHNOLOGIES, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
| As of March 31, | As of December 31, | |||||||
| (in thousands, except share and per share data) | 2025 | 2024 | ||||||
| (Unaudited) | ||||||||
| Assets | ||||||||
| Current assets | ||||||||
| Cash and cash equivalents | $ | 3,543 | $ | 6,869 | ||||
| Restricted cash | 990 | 1,085 | ||||||
| Prepaid expenses and other current assets | 803 | 825 | ||||||
| Total current assets | 5,336 | 8,779 | ||||||
| Due from affiliates | 1,056 | 1,624 | ||||||
| Property and equipment, net | 388 | 372 | ||||||
| Operating lease right-of-use asset, net | 902 | 910 | ||||||
| Intangible assets, net | 5,091 | 4,899 | ||||||
| Other assets | 47 | 41 | ||||||
| Total assets | $ | 12,820 | $ | 16,625 | ||||
| Liabilities and stockholders’ equity | ||||||||
| Current liabilities | ||||||||
| Accounts payable | $ | 1,504 | $ | 1,560 | ||||
| Accrued expenses | 4,056 | 4,307 | ||||||
| Player liabilities | 1,074 | 662 | ||||||
| Due to affiliates | 2,442 | 3,406 | ||||||
| Short-term unsecured notes payable to stockholders | — | 90 | ||||||
| Operating leases obligation, current | 206 | 143 | ||||||
| Total current liabilities | 9,282 | 10,168 | ||||||
| Other liabilities | 24 | 7 | ||||||
| Operating lease obligation, noncurrent | 713 | 729 | ||||||
| Total liabilities | 10,019 | 10,904 | ||||||
| Stockholders’ equity | ||||||||
| Preferred stock, | — | — | ||||||
| Common stock, | 8 | 8 | ||||||
| Additional paid-in capital | 31,865 | 31,557 | ||||||
| Accumulated deficit | (30,419 | ) | (27,143 | ) | ||||
| Accumulated other comprehensive income | 1,347 | 1,299 | ||||||
| Total stockholders’ equity | 2,801 | 5,721 | ||||||
| Total liabilities and stockholders’ equity | $ | 12,820 | $ | 16,625 | ||||
FAQ
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