High Roller Technologies, Inc.(ROLR) - 2025 Q2 - Quarterly Results

Management Commentary & Business Highlights High Roller Technologies achieved positive adjusted EBITDA in Q2 2025 through strategic realignment, increased revenue, and optimized marketing - CEO Ben Clemes stated that the company's strategic plan is delivering intended results, achieving positive adjusted EBITDA in Q2 through increased revenue, optimized marketing, and cost efficiencies[3] - The upcoming launch in Ontario, in partnership with SpikeUp Media, is viewed as a transformative event for the company[4] - Strong execution in Q2 led to consistent improvement in key performance indicators, particularly in the core market of Finland[3] Second Quarter 2025 Financial Summary Q2 2025 revenue grew 20% to $6.9 million, achieving positive Adjusted EBITDA of $362 thousand and Adjusted EPS of $0.04 Q2 2025 Key Financial Metrics | Metric | Q2 2025 | Q2 2024 | YoY Change | Q1 2025 | QoQ Change | | :--- | :--- | :--- | :--- | :--- | :--- | | Total Revenue | $6.9M | $5.8M | +20% | $6.8M (approx) | +2% | | Adjusted EBITDA | $362K | ($931K) | Positive Turnaround | ($2.5M) | Positive Turnaround | | Adjusted EPS | $0.04 | ($0.13) | Positive Turnaround | ($0.30) | Positive Turnaround | - Cash and cash equivalents totaled approximately $3.6 million as of June 30, 2025, down from $4.5 million as of March 31, 2025[12] Q2 2025 Operational & Strategic Highlights Q2 operational highlights include leadership team enhancements, strategic market entry, marketing optimization, and game portfolio expansion - Strengthened leadership with key hires including a Chief Legal & Compliance Officer, CFO, Chief Strategy Officer, and Managing Directors for Finland and Canada[4][8] - Announced a strategic technology partnership with Playtech to enter Ontario's regulated market, with launch anticipated in H2 2025[8] - Average Revenue Per User (ARPU) increased approximately 80% quarter-over-quarter[8] - Re-optimized marketing spend, resulting in a 65% YoY increase in Finland Net Gaming Revenue from the previous 6-month period[8] - Expanded its game portfolio by adding 330 new games, bringing the total to over 5,600 games from more than 90 providers[8] Financial Statements This section presents the unaudited condensed consolidated financial statements, including the Statement of Operations and Balance Sheet, for High Roller Technologies Condensed Consolidated Statements of Operations Q2 2025 revenues grew to $6.9 million, reducing loss from operations to ($502) thousand and narrowing net loss to ($592) thousand Statement of Operations Summary (in thousands) | Metric | Q2 2025 | Q2 2024 | H1 2025 | H1 2024 | | :--- | :--- | :--- | :--- | :--- | | Revenues, net | $6,936 | $5,803 | $13,707 | $12,310 | | Total operating expenses | $7,438 | $7,283 | $17,421 | $15,615 | | Loss from operations | ($502) | ($1,480) | ($3,714) | ($3,305) | | Net loss | ($592) | ($1,504) | ($3,868) | ($3,353) | | Net loss per share | ($0.07) | ($0.21) | ($0.46) | ($0.48) | Condensed Consolidated Balance Sheets As of June 30, 2025, total assets decreased to $12.3 million, primarily due to reduced cash, with total liabilities and stockholders' equity also declining Balance Sheet Summary (in thousands) | Metric | June 30, 2025 | Dec 31, 2024 | | :--- | :--- | :--- | | Cash and cash equivalents | $2,682 | $6,869 | | Total current assets | $3,855 | $8,779 | | Total assets | $12,308 | $16,625 | | Total current liabilities | $8,880 | $10,168 | | Total liabilities | $9,678 | $10,904 | | Total stockholders' equity | $2,630 | $5,721 | Non-GAAP Financial Measures The company utilizes non-GAAP measures like Adjusted EBITDA and Adjusted EPS to evaluate core operating performance by excluding non-recurring or non-cash items - The company uses Adjusted EBITDA and Adjusted Earnings (Loss) Per Share as non-GAAP measures to evaluate operating performance[19] - Adjusted EBITDA is calculated as net loss adjusted for interest, taxes, depreciation, amortization, stock-based compensation, and other non-recurring items[20] - Adjusted Earnings (Loss) Per Share is basic EPS adjusted for amortization of acquired intangibles, stock-based compensation, and other non-recurring items[21] Reconciliation of Net Loss to Adjusted EBITDA Reconciliation shows a significant improvement in Q2 2025, achieving a positive Adjusted EBITDA of $362 thousand, a turnaround from prior-period losses Adjusted EBITDA Reconciliation (in thousands) | Metric | Q2 2025 | Q2 2024 | Q1 2025 | | :--- | :--- | :--- | :--- | | Net loss | ($592) | ($1,504) | ($3,276) | | Add back items | $954 | $673 | $753 | | Adjusted EBITDA | $362 | ($931) | ($2,523) | | Adjusted EBITDA margin | 5.22% | (16.04)% | (37.26)% | About High Roller Technologies, Inc. High Roller Technologies, Inc. (NYSE: ROLR) is a global online gaming operator of High Roller and Fruta casino brands, offering over 5,600 games - High Roller Technologies is a global online gaming operator listed on the NYSE under the ticker ROLR[10] - The company operates the innovative casino brands High Roller and Fruta[10] - It offers a diverse portfolio of over 5,600 premium games from more than 90 leading game providers[2][8] Forward-Looking Statements This section contains a standard legal disclaimer regarding forward-looking statements, cautioning that actual results may differ due to inherent risks and uncertainties - The press release contains "forward-looking statements" which are not guarantees of future performance and are subject to inherent uncertainties, risks, and changes in circumstances[13] - Investors are cautioned not to rely on these statements as actual results and financial conditions may differ materially from those indicated[13]