High Roller Technologies Announces Financial Results for the Three Months Ended September 30, 2024
High Roller Technologies (NYSE: ROLR) reported financial results for Q3 2024, showing a 30% quarter-over-quarter revenue growth to $7.5 million. The company recently completed its IPO on NYSE in October 2024, raising $10 million in gross proceeds.
Key financial metrics include a net loss per share of ($0.07), compared to ($0.03) in Q3 2023. The company achieved positive Adjusted EBITDA of $40,000, improving from a ($1.0 million) deficit in Q2 2024. Operating expenses increased to $8.0 million from $7.3 million in Q2 2024. Cash and equivalents stood at $2.9 million at quarter-end, excluding the IPO proceeds.
High Roller Technologies (NYSE: ROLR) ha riportato risultati finanziari per il terzo trimestre del 2024, mostrando una crescita dei ricavi del 30% rispetto al trimestre precedente, raggiungendo i 7,5 milioni di dollari. L'azienda ha recentemente completato il suo IPO sulla NYSE nell'ottobre 2024, raccogliendo 10 milioni di dollari in proventi lordi.
I principali indicatori finanziari includono una perdita netta per azione di ($0,07), rispetto a ($0,03) nel terzo trimestre del 2023. L'azienda ha ottenuto un EBITDA Adjusted positivo di 40.000 dollari, migliorando da un deficit di ($1,0 milione) nel secondo trimestre del 2024. Le spese operative sono aumentate a 8,0 milioni di dollari dai 7,3 milioni del secondo trimestre del 2024. La liquidità e i suoi equivalenti ammontano a 2,9 milioni di dollari alla fine del trimestre, escludendo i proventi dell'IPO.
High Roller Technologies (NYSE: ROLR) reportó resultados financieros para el tercer trimestre de 2024, mostrando un crecimiento del 30% en los ingresos desde el trimestre anterior, alcanzando los 7.5 millones de dólares. La compañía completó recientemente su IPO en NYSE en octubre de 2024, recaudando 10 millones de dólares en ingresos brutos.
Los indicadores financieros clave incluyen una pérdida neta por acción de ($0.07), comparado con ($0.03) en el tercer trimestre de 2023. La empresa alcanzó un EBITDA ajustado positivo de 40,000 dólares, mejorando desde un déficit de ($1.0 millón) en el segundo trimestre de 2024. Los gastos operativos aumentaron a 8.0 millones de dólares desde 7.3 millones en el segundo trimestre de 2024. El efectivo y equivalentes se situaron en 2.9 millones de dólares al final del trimestre, excluyendo los ingresos de la IPO.
하이 롤러 테크놀로지스 (NYSE: ROLR)는 2024년 3분기 재무 실적을 발표하며 전분기 대비 30%의 매출 성장을 보였고, 750만 달러에 도달했습니다. 이 회사는 2024년 10월 NYSE에서 IPO를 성공적으로 마쳤으며, 총 1천만 달러의 수익을 올렸습니다.
주요 재무 지표로는 주당 순손실이 ($0.07)인 반면, 2023년 3분기는 ($0.03)였습니다. 이 회사는 40,000달러의 긍정적인 조정 EBITDA를 달성했으며, 2024년 2분기에서 ($1.0 백만) 손실에서 개선되었습니다. 운영비는 2분기 730만 달러에서 800만 달러로 증가했습니다. 분기 말 현금 및 현금성 자산은 IPO 수익을 제외하고 290만 달러로 집계되었습니다.
High Roller Technologies (NYSE: ROLR) a annoncé ses résultats financiers pour le troisième trimestre 2024, affichant une croissance des revenus de 30 % d'un trimestre à l'autre, atteignant 7,5 millions de dollars. L'entreprise a récemment terminé son introduction en bourse sur la NYSE en octobre 2024, levant 10 millions de dollars en recettes brutes.
Les principaux indicateurs financiers comprennent une perte nette par action de ($0,07), comparativement à ($0,03) au troisième trimestre 2023. L'entreprise a réalisé un EBITDA ajusté positif de 40 000 dollars, améliorant ses résultats par rapport à un déficit de ($1,0 million) au deuxième trimestre 2024. Les dépenses d'exploitation ont augmenté à 8,0 millions de dollars contre 7,3 millions de dollars au deuxième trimestre 2024. La trésorerie et équivalents s'élevaient à 2,9 millions de dollars à la fin du trimestre, excluant les produits de l'introduction en bourse.
High Roller Technologies (NYSE: ROLR) berichtete über die finanziellen Ergebnisse für das 3. Quartal 2024 und zeigte ein Umsatzwachstum von 30% im Vergleich zum Vorquartal mit 7,5 Millionen Dollar. Das Unternehmen schloss kürzlich seinen Börsengang an der NYSE im Oktober 2024 ab und erzielte einen Bruttoerlös von 10 Millionen Dollar.
Die wichtigsten Finanzkennzahlen umfassen einen Nettoverlust pro Aktie von ($0,07) im Vergleich zu ($0,03) im 3. Quartal 2023. Das Unternehmen erreichte ein positives bereinigtes EBITDA von 40.000 Dollar und verbesserte sich von einem Defizit von ($1,0 Million) im 2. Quartal 2024. Die Betriebskosten stiegen von 7,3 Millionen Dollar im 2. Quartal 2024 auf 8,0 Millionen Dollar. Die liquiden Mittel und Äquivalente beliefen sich am Ende des Quartals auf 2,9 Millionen Dollar, exklusive der Mittel aus dem Börsengang.
- 30% quarter-over-quarter revenue growth to $7.5 million
- Achieved positive Adjusted EBITDA of $40,000, up from ($1.0 million) deficit in Q2 2024
- Successfully completed IPO raising $10 million in gross proceeds
- Improved GAAP net loss to ($0.5 million) from ($1.5 million) in Q2 2024
- Year-over-year revenue slightly decreased from $7.6 million to $7.5 million
- Net loss per share increased to ($0.07) from ($0.03) year-over-year
- Operating expenses increased to $8.0 million from $7.3 million quarter-over-quarter
- Exit from a jurisdiction due to regulatory changes impacting revenue
Insights
The Q3 2024 results present a mixed financial picture for High Roller Technologies. The 30% quarter-over-quarter revenue growth to
However, concerning aspects include widening losses, with EPS deteriorating to
High Roller's performance in the competitive online gaming sector shows strategic adaptation. The exit from a jurisdiction due to regulatory changes demonstrates the volatile nature of the industry, but the company has successfully offset this through growth in primary markets. The increased investment in advertising and promotional costs, while pressuring margins, appears to be yielding results with improved quarter-over-quarter performance.
The transition to public company status via NYSE listing enhances visibility and access to capital markets, important for scaling in the gaming industry. However, the company will need to demonstrate sustained revenue growth and profitability improvements to justify its valuation and compete effectively in the crowded online gaming space.
-Company Delivers
-Filing Follows High Roller’s Recent IPO on NYSE in October 2024 Raising Gross Proceeds of
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
Revenue from operations for the three months ended September 30, 2024 was
Operating expenses for the three months periods ended June 30, 2024 and September 30, 2024 were
For the three months ended September 30, 2024, the Company recorded a GAAP net loss of
The Company reported a net loss per share of (
At the close of September 30, 2024, the Company reported
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:
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 | 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, | — | — | ||||||
| Common stock, | 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 | % | ||||
FAQ
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