High Roller Technologies (ROLR) Q1 2026 earnings summary

Executive summary

• Net revenue for Q1 2026 was $3.4 million, down 35% year-over-year due to market exits and refined marketing strategy.

• Net loss from continuing operations was $3.0 million, an improvement from $3.7 million in Q1 2025.

• Adjusted EBITDA improved to $(1.3) million from $(3.0) million year-over-year.

• Strategic shift included divestiture of CasinoRoom.com and a new collaboration with Crypto.com for U.S. prediction markets.

• Strengthened balance sheet, shifting from a $3.7M working capital deficit to $18.1M positive, with $23.1M in cash and no debt at quarter end.

Financial highlights

• Revenue declined to $3.4 million from $5.2 million year-over-year, mainly due to market exits.

• Operating expenses decreased 28% to $6.4M from $8.9M in Q1 2025, driven by lower direct operating costs and advertising.

• Net loss per share improved to $(0.29) from $(0.39) year-over-year.

• Cash and cash equivalents rose to $23.1 million as of March 31, 2026, up from $2.1 million at year-end 2025, driven by $23.8 million in financing activities.

• Working capital improved to $18.1 million from negative $3.7 million at year-end 2025.

Outlook and guidance

• Management expects new geographical markets, including Ontario and the U.S., to drive future growth.

• Collaboration with Crypto.com is anticipated to generate new revenue streams in the U.S. prediction markets segment.

• Management expressed bullishness on the U.S. prediction markets launch, with third-party estimates projecting the market to exceed $325B in 2026 and $1.1T by 2030.

• Continued focus on multi-brand strategy and scalable platform to optimize marketing spend and player acquisition.

• Plans to provide further updates as the launch approaches, with a clear execution plan in place.