High Roller Technologies Advances Planned U.S. Prediction Markets Launch; Reports Second Quarter 2026 Results
Rhea-AI Summary
High Roller Technologies (NYSE: ROLR) reported second-quarter 2026 net revenue of $2.8 million, down 52% from $5.8 million a year earlier, reflecting its exit from certain online casino markets and a sharper focus on U.S. prediction markets. Total operating expenses fell 23% year-over-year to $5.3 million, but loss from operations widened to $2.5 million, with net loss from continuing operations at $2.4 million, or $(0.22) per share. Adjusted EBITDA was negative $1.8 million versus negative $0.2 million in Q2 2025.
The company advanced its U.S. prediction markets strategy: ROLR US LLC became a National Futures Association member and a Guaranteed Introducing Broker, enabling access to Crypto.com FCM infrastructure under its agreement with Crypto.com | Derivatives North America. High Roller launched the ROLR consumer brand, acquired ROLR.com, rolled out a Free-To-Trade Prediction Challenge with more than $100,000 in prizes and a potential $25 million grand prize, signed strategic marketing deals, and created a Head of Applied AI role. As of June 30, 2026, cash and cash equivalents were $18.0 million and stockholders’ equity was $29.6 million; the company was added to the Russell Microcap Index.
Positive
- NFA membership and Guaranteed Introducing Broker status obtained for ROLR US LLC
- Agreement with Crypto.com | Derivatives North America to offer event contracts via ROLR platform
- Q2 2026 operating expenses reduced 23% year-over-year to $5.3 million
- Cash and cash equivalents increased to $18.0 million at June 30, 2026
- Stockholders’ equity rose to $29.6 million from $9.6 million at year-end 2025
- Inclusion in the Russell Microcap Index enhances visibility with institutional investors
Negative
- Q2 2026 net revenues declined 52% year-over-year to $2.8 million
- Q2 2026 loss from operations widened to $2.5 million from $1.1 million
- Net loss from continuing operations increased to $2.4 million, or $(0.22) per share
- Q2 2026 Adjusted EBITDA loss deepened to $(1.8) million from $(0.2) million
- Six-month 2026 net loss from continuing operations reached $5.3 million
- Common shares outstanding grew to 10.998 million from 8.485 million at year-end 2025
News Explained
Common shares issued and outstanding rose to 10,998,049 by June 30 from 8,485,405 at year-end; any dilution effect remains unresolved.
The planned U.S. prediction-markets launch remains in preparation, and the release reports
If the increase reflects newly issued shares, the supplied dilution definition means an existing holder’s percentage ownership would be reduced absent offsetting changes; the supplied figures do not quantify that ownership effect. Although the release said the June 30 Form 10-Q was expected to be filed, the filing record lists it as filed on
Sources and calculations
- High Roller Technologies Q2 2026 results and business update (2026-08-11)
- Dilution definition (undated)
- High Roller Technologies Form 10-Q (2026-08-11)
Key Figures
Previous Earnings Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| May 12 | Q1 earnings report | Negative | -9.5% | Revenue declined while the company reported a $25 million registered direct offering. |
| Mar 10 | Q4/FY25 earnings report | Negative | -6.8% | Full-year revenue declined despite a narrower operating loss and improved adjusted EBITDA. |
| Nov 11 | Q3 earnings report | Positive | -0.4% | The company reported its first quarterly profit as a public company. |
| Aug 12 | Q2 earnings report | Positive | +10.9% | Revenue increased 20% year-over-year and adjusted EBITDA turned positive. |
| Jun 05 | Prediction markets update | Positive | -2.9% | The company reported improving operating-loss expectations and submitted an Ontario license application. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Tag-specific earnings events had an average 24-hour move of -1.74%, with three aligned reactions and two divergences.
Key Terms
prediction markets financial
guaranteed introducing broker regulatory
adjusted ebitda financial
net take rate financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
- Advanced the planned U.S. launch of the ROLR prediction markets platform; ROLR US LLC approved as a Member of the National Futures Association and registered as a Guaranteed Introducing Broker
- Introduced the ROLR consumer brand and launched the ROLR Free-To-Trade Prediction Challenge; continued expanding the Company’s marketing, technology and regulatory ecosystem
- Cash and cash equivalents of
$18.0 million and stockholders’ equity of$29.6 million at June 30, 2026 - Conference today, August 11, 2026, at 4:30 PM ET
LAS VEGAS, Nevada, Aug. 11, 2026 (GLOBE NEWSWIRE) -- High Roller Technologies, Inc. (“High Roller” or the “Company”) (NYSE: ROLR), a publicly traded online gaming and prediction markets company, today reported its financial results for the second quarter ended June 30, 2026 and provided an update on its planned expansion into regulated U.S. prediction markets through its agreement with Crypto.com | Derivatives North America (“CDNA”). As previously announced, High Roller will host a conference call to discuss second quarter 2026 results and provide a business update August 11, 2026, at 4:30 PM Eastern Time (ET).
Management Commentary
“The second quarter was, above all, about doing the work,” said Seth Young, Chief Executive Officer of High Roller Technologies. “Our focus this quarter was building, with coordinated execution across product, technology, compliance, and operations to advance the ROLR platform toward commercial readiness. The most visible result was regulatory, as ROLR US LLC was approved as a member of the National Futures Association and registered as a Guaranteed Introducing Broker, establishing the regulatory foundation for our planned launch through Crypto.com FCM infrastructure.”
“We also introduced the ROLR consumer brand and ROLR.com to the market through our Free-To-Trade Prediction Challenge, while continuing to build the marketing, technology and regulatory capabilities intended to support a differentiated and scalable consumer platform,” continued Young. “Our inclusion in the Russell Microcap Index further expanded our visibility with institutional investors and the broader capital markets community.”
“Second-quarter revenue reflected our deliberate exit from certain online casino markets, implementation of a more focused marketing strategy and increasing organizational emphasis on the prediction markets opportunity. At the same time, total operating expenses declined
Prediction Markets Industry Outlook
The prediction market category continues to expand rapidly, with multiple third-party industry forecasts pointing to a trillion-dollar annual trading-volume opportunity by the end of the decade. Macquarie estimated in July 2026 that annual prediction-market trading volume could reach approximately
Recent Strategic & Corporate Highlights
Prediction Markets (U.S.)
- Executed a definitive agreement with Crypto.com | Derivatives North America to launch an event-based prediction markets offering, initially in the United States. Under the agreement, High Roller plans to operate as a Guaranteed Introducing Broker and provide access to CDNA event contracts across finance, sports and entertainment categories through the ROLR platform.
- Executed definitive strategic marketing agreements with Lines.com, Forever Network and Leverage Game Media to support customer acquisition, brand awareness and audience engagement for the planned U.S. prediction markets launch.
- Engaged a Big 4 consultancy to support licensing and regulatory workstreams for the planned U.S. prediction markets business.
- Expanded applied AI capabilities by creating the role of Head of Applied AI and appointing Nicholis Muller to lead initiatives across compliance automation, product personalization, customer engagement and internal development workflows.
- Established ROLR as the consumer-facing prediction markets brand and acquired ROLR.com as the primary digital destination for the planned platform.
- Launched the ROLR Free-To-Trade Prediction Challenge, an eight-week skill-based competition offering more than
$100,000 in guaranteed cash prizes and giveaways and a chance for successful qualifiers to compete for a$25 million grand prize. - Received a Guaranteed Introducing Broker license from the National Futures Association. ROLR’s introducing broker operations will be guaranteed by OG Markets US, Inc., doing business as Crypto.com FCM, which will carry customer accounts introduced through the ROLR platform and provide transaction processing, custody and related regulatory infrastructure.
Capital Markets and Corporate
- Added to the Russell Microcap® Index as part of the 2026 Russell U.S. Indexes annual reconstitution, increasing the Company’s visibility among institutional investors and index-tracking funds.
Second Quarter 2026 Financial Results Summary
- Net revenues were
$2.8 million , a decrease of$3.0 million , or52% , compared with$5.8 million for the second quarter of 2025, primarily reflecting the Company’s exit from certain markets, a refined marketing strategy and increased focus on prediction markets. - Total operating expenses were
$5.3 million , a decrease of$1.6 million , or23% , compared with$6.9 million for the second quarter of 2025, primarily due to lower direct operating costs and advertising and promotion expense. - Loss from operations was
$2.5 million , compared with a loss from operations of$1.1 million for the second quarter of 2025. - Net loss from continuing operations was
$2.4 million , or$(0.22) per common share, compared with a net loss from continuing operations of$1.2 million , or$(0.14) per common share, for the second quarter of 2025. - Adjusted EBITDA was negative
$1.8 million , or an adjusted loss of$(0.17) per common share, compared with negative Adjusted EBITDA of$0.2 million , or an adjusted loss of$(0.02) per common share, for the second quarter of 2025. - Cash and cash equivalents were
$18.0 million , restricted cash was$0.5 million , and stockholders’ equity was$29.6 million at June 30, 2026.
Additional information regarding the Company’s results of operations, financial condition and liquidity is included in the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2026, which the Company expects to file with the U.S. Securities and Exchange Commission.
Conference Call
As previously announced, High Roller will host a conference call to provide a business update and discuss second quarter results on August 11, 2026, at 4:30 PM 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 13762141.
About High Roller Technologies, Inc.
High Roller Technologies, Inc. (NYSE: ROLR) is a publicly traded online gaming and prediction markets company, known for its innovative casino brands High Roller and Fruta, and its prediction markets brand, ROLR. The Company delivers cutting-edge real-money consumer facing products that are intuitive and user-friendly. With a diverse portfolio of over 6,000 premium online casino games from more than 90 leading game providers, High Roller Technologies offers an immersive and engaging gaming experience in the rapidly expanding multi-billion-dollar iGaming industry. As an award-winning operator, High Roller Technologies continues to redefine the future of market engagement through innovation, performance, and a commitment to excellence.
For more information, please visit the Company’s investor relations website and follow High Roller Technologies on X, Facebook, and LinkedIn.
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 the factors discussed in our Annual Report on Form 10-K for the year ended December 31, 2025, our Quarterly Reports on Form 10-Q, including the Quarterly Report for the quarter ended June 30, 2026, and our other filings with the U.S. Securities and Exchange Commission. 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.
Non-GAAP Financial Measures
This press release includes Adjusted EBITDA and Adjusted Loss Per Share, which are non-GAAP financial measures that the Company uses to supplement its results presented in accordance with U.S. GAAP. The Company believes these measures are useful in evaluating operating performance and trends and in making strategic decisions regarding the allocation of capital and new investments. These measures are not intended to be a substitute for any U.S. GAAP financial measure and may not be comparable to similarly titled measures used by other companies.
The Company defines Adjusted EBITDA as net loss from continuing operations before the impact of interest income and expense, income tax provision or benefit, and depreciation and amortization, and further adjusted for stock-based compensation and other non-recurring and non-operating costs or income. The Company defines Adjusted Loss Per Share as basic 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. Reconciliations to the most directly comparable U.S. GAAP measures are included below.
Contact
ir@highroller.com
800-460-1039
1 Macquarie Equity Research (Chad Beynon), July 23, 2026; reported by Reuters and Casino.org. Macquarie projected approximately
2 Bernstein Research (Gautam Chhugani), April 2026; reported by CoinDesk on April 15, 2026. Bernstein estimated approximately
3 Eilers & Krejcik Gaming, “U.S. Prediction Markets: How Big, How Fast, What’s Next?,” December 2025; reported by the Las Vegas Review-Journal and Public Gaming Research Institute. The forecast totals roughly
HIGH ROLLER TECHNOLOGIES, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (UNAUDITED)
| For the Three Months Ended | For the Six Months Ended | |||||||||||
| June 30, | June 30, | |||||||||||
| (in thousands, except share and per share data) | 2026 | 2025 | 2026 | 2025 | ||||||||
| Revenues, net | $ | 2,809 | $ | 5,801 | $ | 6,175 | $ | 10,996 | ||||
| Operating expenses | ||||||||||||
| Direct operating costs: | ||||||||||||
| Related party | 146 | 359 | 333 | 672 | ||||||||
| Other | 1,044 | 2,522 | 2,115 | 4,756 | ||||||||
| General and administrative: | ||||||||||||
| Related party | — | 53 | — | 67 | ||||||||
| Other | 3,361 | 2,830 | 7,879 | 6,150 | ||||||||
| Advertising and promotions: | ||||||||||||
| Related party | 280 | 205 | 399 | 907 | ||||||||
| Other | 241 | 710 | 470 | 2,782 | ||||||||
| Product and software development: | ||||||||||||
| Related party | — | — | — | — | ||||||||
| Other | 208 | 189 | 446 | 390 | ||||||||
| Total operating expenses | 5,280 | 6,868 | 11,642 | 15,724 | ||||||||
| Loss from operations | (2,471) | (1,067) | (5,467) | (4,728) | ||||||||
| Other income (expense) | ||||||||||||
| Interest income (expense), net | 145 | (53) | 191 | (99) | ||||||||
| Other (expense) income | (13) | — | (13) | (1) | ||||||||
| Total other income (expense) | 132 | (53) | 178 | (100) | ||||||||
| Loss before income taxes | (2,339) | (1,120) | (5,289) | (4,828) | ||||||||
| Income tax expense | 31 | 37 | 47 | 54 | ||||||||
| Net loss from continuing operations | $ | (2,370) | $ | (1,157) | $ | (5,336) | $ | (4,882) | ||||
| Net income from discontinued operations, net of taxes | $ | — | $ | 565 | $ | — | $ | 1,014 | ||||
| Net loss | $ | (2,370) | $ | (592) | $ | (5,336) | $ | (3,868) | ||||
| Other comprehensive loss | ||||||||||||
| Foreign currency translation adjustment | 46 | (80) | (165) | (32) | ||||||||
| Comprehensive loss | $ | (2,324) | $ | (672) | $ | (5,501) | $ | (3,900) | ||||
| Net income (loss) per common share: | ||||||||||||
| Continuing operations | $ | (0.22) | $ | (0.14) | (0.50) | (0.58) | ||||||
| Discontinued operations | $ | — | $ | 0.07 | — | 0.12 | ||||||
| Net loss per common share – basic and diluted | $ | (0.22) | $ | (0.07) | $ | (0.50) | $ | (0.46) | ||||
| Weighted average common shares outstanding – basic and diluted | 10,943,272 | 8,408,820 | 10,669,024 | 8,402,945 | ||||||||
HIGH ROLLER TECHNOLOGIES, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
| As of June 30, | As of December 31, | |||||||
| (in thousands, except share and per share data) | 2026 | 2025 | ||||||
| (Unaudited) | ||||||||
| Assets | ||||||||
| Current assets | ||||||||
| Cash and cash equivalents | $ | 18,009 | $ | 2,076 | ||||
| Restricted cash | 531 | 589 | ||||||
| Prepaid expenses and other current assets | 1,702 | 779 | ||||||
| Deferred tax asset, current | 2,289 | 2,368 | ||||||
| Total current assets | 22,531 | 5,812 | ||||||
| Deferred offering costs | — | 80 | ||||||
| Property and equipment, net | 374 | 417 | ||||||
| Operating lease right-of-use asset, net | 703 | 826 | ||||||
| Intangible assets, net | 12,264 | 10,507 | ||||||
| Deferred tax asset, non-current | 794 | 817 | ||||||
| Other assets | 75 | 60 | ||||||
| Total assets | $ | 36,741 | $ | 18,519 | ||||
| Liabilities and stockholders’ equity | ||||||||
| Current liabilities | ||||||||
| Accounts payable | $ | 371 | $ | 804 | ||||
| Accrued expenses | 1,897 | 3,373 | ||||||
| Player liabilities | 778 | 816 | ||||||
| Due to affiliates | 2,232 | 1,993 | ||||||
| Operating lease obligation, current | 163 | 166 | ||||||
| Total current liabilities | 5,441 | 7,152 | ||||||
| Other liabilities | 1,148 | 1,084 | ||||||
| Operating lease obligation, non-current | 525 | 641 | ||||||
| Total liabilities | 7,114 | 8,877 | ||||||
| Stockholders’ equity | ||||||||
| Preferred stock, | — | — | ||||||
| Common stock, | 11 | 8 | ||||||
| Additional paid-in capital | 58,413 | 32,930 | ||||||
| Accumulated deficit | (29,635 | ) | (24,299 | ) | ||||
| Accumulated other comprehensive income | 838 | 1,003 | ||||||
| Total stockholders’ equity | 29,627 | 9,642 | ||||||
| Total liabilities and stockholders’ equity | $ | 36,741 | $ | 18,519 | ||||
HIGH ROLLER TECHNOLOGIES, INC. AND SUBSIDIARIES
GAAP NET LOSS TO NON-GAAP ADJUSTED EBITDA (UNAUDITED)
| For the Three Months Ended June 30, | For the Six Months Ended June 30, | |||||||||||||||
| (in thousands) | 2026 | 2025 | 2026 | 2025 | ||||||||||||
| Revenues | $ | 2,809 | $ | 5,801 | $ | 6,175 | $ | 10,996 | ||||||||
| Net loss from continuing operations | (2,370 | ) | (1,157 | ) | (5,336 | ) | (4,882 | ) | ||||||||
| Net income from discontinued operations, net of taxes | — | 565 | — | 1,014 | ||||||||||||
| Add back items: | ||||||||||||||||
| Stock-based compensation expense (1) | 407 | 500 | 667 | 809 | ||||||||||||
| Issuance of warrants | — | — | 1,003 | — | ||||||||||||
| Depreciation and amortization (2) | 72 | 90 | 140 | 160 | ||||||||||||
| Interest expense, net | (145 | ) | 53 | (191 | ) | 99 | ||||||||||
| Income tax | 31 | 37 | 47 | 54 | ||||||||||||
| Foreign exchange transaction loss | 107 | 151 | 180 | 329 | ||||||||||||
| Other (3) | 75 | 128 | 385 | 256 | ||||||||||||
| Adjusted EBITDA | $ | (1,823 | ) | $ | (198 | ) | $ | (3,105 | ) | $ | (3,175 | ) | ||||
(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 net of shares withheld for taxes (including related employer and applicable employee 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.
