High Roller Technologies Announces Financial Results for the Three Months Ended September 30, 2024

Core Viewpoint - High Roller Technologies, Inc. reported a significant quarter-over-quarter revenue growth of 30% for Q3 2024, driven by marketing efficiencies and cost optimization efforts, despite a slight year-over-year revenue decline [2][3][4]. Financial Performance - The company achieved total revenue of $7.5 million for the three months ended September 30, 2024, compared to $5.8 million in the previous quarter [3][4]. - Year-over-year, revenue decreased slightly by less than 1% from $7.6 million in Q3 2023 [5]. - The net loss per share was ($0.07) for Q3 2024, compared to ($0.03) in Q3 2023 [8]. - The company reported a GAAP net loss of $(0.5 million) for Q3 2024, an increase from a net loss of $(0.2 million) in Q3 2023 [7][8]. Operational Highlights - 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]. - The company ended the quarter with cash and cash equivalents of $2.9 million, which includes restricted cash [8]. - High Roller achieved positive Adjusted EBITDA of $40 thousand for Q3 2024, a significant improvement from a negative EBITDA of $(1.0 million) in Q2 2024 [3][7]. Strategic Initiatives - The company completed its IPO on the NYSE in October 2024, raising gross proceeds of $10 million to support strategic growth initiatives [2][8]. - The CEO emphasized the focus on optimizing costs and enhancing marketing efforts to grow the user base, indicating a commitment to executing the growth strategy [9].