High Roller Technologies, Inc.(US:ROLR)2024-12-05 21:35Revenue Performance - Company reported total revenue of $7.5 million for Q3 2024, a 30% increase quarter-over-quarter from $5.8 million in Q2 2024[3][4] - Revenue from operations slightly decreased by less than 1% year-over-year to $7.5 million in Q3 2024 from $7.6 million in Q3 2023[5] - Revenues for the three months ended September 30, 2024, were $7,516 thousand, slightly down from $7,569 thousand in the same period in 2023[22] Net Loss and Earnings - Net loss per share was ($0.07) in Q3 2024, compared to ($0.03) in Q3 2023[3][8] - GAAP net loss was $(0.5 million) in Q3 2024, compared to $(0.2 million) in Q3 2023 and $(1.5 million) in Q2 2024[7] - Net loss for the three months ended September 30, 2024, was $501 thousand, compared to a net loss of $208 thousand in the same period in 2023[22] Adjusted EBITDA - Adjusted EBITDA improved to $40 thousand in Q3 2024 from a deficit of ($1.0 million) in Q2 2024[3][7] - The Company achieved positive Adjusted EBITDA for the first time in Q3 2024, marking a significant turnaround from previous quarters[3][7] - Adjusted EBITDA for the three months ended September 30, 2024, was $40 thousand, down from $234 thousand in the same period in 2023[22] - Adjusted EBITDA margin for the three months ended September 30, 2024, was 1%, compared to 3% in the same period in 2023[22] Cash and Liquidity - Cash and cash equivalents totaled $2.9 million at the end of Q3 2024, excluding $10 million raised from the October 2024 IPO[8] - High Roller Technologies raised $10 million in gross proceeds from its IPO on NYSE in October 2024 to support strategic growth initiatives[2][8] - Cash and cash equivalents decreased to $1,329 thousand as of September 30, 2024, from $2,087 thousand as of December 31, 2023[20] Operating Expenses - Operating expenses increased to $8.0 million in Q3 2024 from $7.3 million in Q2 2024, driven by higher advertising and promotional costs[6] - Stock-based compensation expense increased to $80 thousand for the three months ended September 30, 2024, from $60 thousand in the same period in 2023[22] - Depreciation and amortization expenses rose to $65 thousand for the three months ended September 30, 2024, from $2 thousand in the same period in 2023[22] - Foreign exchange transaction loss increased to $369 thousand for the three months ended September 30, 2024, from $327 thousand in the same period in 2023[22] Balance Sheet and Liabilities - Total assets increased to $12,891 thousand as of September 30, 2024, compared to $11,785 thousand as of December 31, 2023[20] - Total current liabilities increased to $12,674 thousand as of September 30, 2024, from $9,457 thousand as of December 31, 2023[20] Strategic Initiatives and Growth - The Company's focus on cost optimization and marketing efficiencies contributed to the 30% quarter-over-quarter revenue growth[3][9]