High Roller Technologies Reports First Profitable Quarter as Public Company
High Roller Technologies achieved its first profitable quarter since becoming a public company, reporting a net income of $3.667 million for the three months ending September 30, 2025. This financial turnaround contrasts sharply with the $501 thousand net loss recorded in the third quarter of 2024.
The shift to profitability was driven by a strategic transformation, including exiting less profitable markets and significantly reducing operating costs, despite a 16% drop in total revenue to $6.3 million.
Financial System Overhaul Yields Net Income
The company’s third-quarter financial results highlight disciplined management of the business’s expenditure system. Total operating expenses fell to $6.2 million, marking a 22% reduction from the $8 million spent in Q3 2024. This decrease resulted from optimizing marketing spend and general operational streamlining.
The positive adjustment in cost structure led to an operating income of $80 thousand, a major improvement over the $474 thousand operating loss the prior year.
A key performance indicator, Adjusted EBITDA, reached $622 thousand. This represents a substantial improvement from the $40 thousand reported in Q3 2024, placing the Adjusted EBITDA margin at approximately 9.9%.
Furthermore, the company reported an Adjusted Earnings Per Share of $0.07, reflecting the improved financial position. Total wagers processed exceeded $146 million, and stockholder equity increased to $6.6 million, signaling financial stability.
Strategic Shift Drives Market Metrics
High Roller’s path to profitability was paved by strategic non-financial actions aimed at increasing efficiency and market reach. The company launched a new, regionally focused online casino brand, Kassuuu, during the quarter.
This product diversification accompanied a broader data unification effort, integrating AI and machine learning to improve business intelligence and reporting. These internal optimizations directly contributed to the operational efficiency that drove down costs.
Customer engagement metrics showed a solid quarter-over-quarter (QoQ) gain. The number of active users grew by about 11% to approximately 21,800. Similarly, unique depositing customers increased by around 18% QoQ to 20,128.
This growth in the player base, coupled with cost control, underscores the effectiveness of the strategic plan. Looking ahead, High Roller has made progress toward entering the Ontario market, with a target launch in the first half of 2026.
Seth Young, Chief Executive Officer of High Roller Technologies, commented on the results:
“High Roller delivered a standout third quarter, achieving quarterly profitability for the first time since becoming a public company — a major milestone that underscores the strength of our strategic transformation.”
He also stressed the company’s commitment to sound management:
“This success reflects the dedication of our incredible team, disciplined financial management, and unwavering commitment to operational excellence.”
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