High Roller Technologies, Inc. (ROLR) AI Stock Analysis

• Market Cap: $22.35M
• Dividend Yield: N/A
• Average Volume (3M): 12.99K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.35
• Revenue Growth: 3.80%
• EPS Growth: 59.04%
• Country: US
• Employees: 59
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Gambling, Resorts & Casinos
• EPS (TTM): 0.07
• Shares Outstanding: 8,497,511
• 10 Day Avg. Volume: 11,924
• 30 Day Avg. Volume: 12,993
• PEG Ratio: -0.04
• Price to Book (P/B): 5.54
• Price to Sales (P/S): 1.14
• P/FCF Ratio: -7.24
• Enterprise Value/Market Cap: 1.01
• Enterprise Value/Revenue: 0.80
• Enterprise Value/Gross Profit: 1.42
• Enterprise Value/Ebitda: -4.17
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 50 Neutral
• Price Target: $2.50 ▲(56.25% Upside)

The score is held back primarily by weak financial performance (ongoing losses, declining TTM revenue, and significant negative operating/free cash flow). Technical indicators provide a moderate near-term tailwind (price above 20/50DMA with positive MACD), while valuation is limited by negative earnings and no stated dividend yield. Corporate events add some support via fresh funding and market expansion, but do not fully offset the underlying cash burn risk.

Positive Factors

Regulated market access via Estonian license

Owning an Estonian remote gambling license provides durable access to regulated European markets, reducing regulatory friction for online operations. This structural market entry supports recurring revenue potential and product-market fit in regulated jurisdictions over the medium term.

Strategic funding and industry partnership

A $1M private placement both extends runway and signals strategic alignment with a land-based casino operator. The partnership can provide distribution, credibility and potential cross-channel opportunities, strengthening the company’s ability to scale online operations over time.

Strengthened operations and proven profitability inflection

Installing an experienced COO and delivering the first quarterly profit and positive adjusted EBITDA suggest meaningful operational improvements. Sustained leadership and execution discipline increase the probability that cost structure and margin gains can persist and drive durable profitability.

Negative Factors

Heavy cash burn and negative free cash flow

Significant negative operating and free cash flow indicate the business is not self-funding and requires recurring external financing. Over several quarters this erodes financial flexibility, constrains investment in growth initiatives, and elevates dilution or liquidity risk for the medium term.

Declining revenue and persistent unprofitability

A declining revenue trend alongside sustained operating losses signals that scale and demand are not yet offsetting fixed costs. Even with decent gross margins, deteriorating top-line and recurring losses make durable margin recovery and consistent earnings generation uncertain without structural revenue growth.

Related-party overlap in acquisitions

Significant ownership overlap between buyer, sellers and directors creates governance and conflict-of-interest risk. Such structural issues can lead to heightened scrutiny, minority shareholder distrust, and potential value leakage from transactions, impairing long-term capital allocation credibility.

High Roller Technologies, Inc. Business Overview & Revenue Model

Company Description

High Roller Technologies, Inc. engages in the online gaming business worldwide. The company offers a suite of online casino games, such as blackjack, roulette, craps, baccarat, poker, and slot machines through HighRoller.com. It operates Fruta.com, an online gaming operator known for its casino platform; and provides internet related advertising services. The company was founded in 2005 and is based in Las Vegas, Nevada.

How the Company Makes Money

High Roller Technologies, Inc. generates revenue through a diversified model that includes subscription-based services, enterprise software licensing, and professional consulting fees. The company's AI and cloud computing solutions are offered as subscription services, providing a steady stream of recurring revenue. Additionally, ROLR licenses its proprietary software to businesses seeking to integrate advanced analytics and AI capabilities into their operations. The company also engages in strategic partnerships with major tech firms to co-develop solutions, further expanding its market reach and profitability. Consulting services, offered to businesses for integration and optimization of ROLR's technologies, serve as another significant revenue stream.

High Roller Technologies, Inc. Financial Statement Overview

Summary

High Roller Technologies, Inc. is facing significant financial challenges with declining revenues, poor profitability, and negative cash flows. The company operates at a loss, with a negative net profit margin and a concerning cash flow situation. While leverage is low, negative equity and returns are troubling.

Income Statement

High Roller Technologies, Inc. has faced declining revenue and profitability. The revenue decreased from $29,675,000 in 2023 to $27,882,000 in 2024, a negative growth trajectory. Gross Profit Margin has slightly decreased from 54% to 53.6% in the latest year, indicating a slight reduction in cost control efficiency. The company is operating at a loss, with a negative Net Profit Margin of -21.3% in 2024, showing poor profitability.

Balance Sheet

The company's financial stability is a concern, with a Debt-to-Equity Ratio of 0.17 in 2024, indicating relatively low leverage but a declining equity base. Return on Equity is negative due to negative net income and low equity, reflecting poor returns for shareholders. However, the Equity Ratio of 34.4% is a positive sign of asset coverage by equity, showing a moderate level of financial health, though still at risk.

Cash Flow

The cash flow situation is challenging, with negative Free Cash Flow of -$4,377,000 in the most recent year, indicating cash usage rather than generation. The Operating Cash Flow to Net Income Ratio is negative, showing that operating activities are not generating sufficient cash to cover losses. The Free Cash Flow to Net Income Ratio remains negative, highlighting the company's inability to generate positive cash flow relative to its losses.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	28.04M	27.88M	29.68M	18.49M	13.45M	14.77M
Gross Profit	15.88M	14.94M	16.03M	10.95M	11.93M	4.45M
EBITDA	-5.40M	-5.55M	-2.63M	-2.96M	1.00M	274.73K
Net Income	-2.27M	-5.92M	-2.82M	-3.06M	978.45K	68.49K
Balance Sheet
Total Assets	16.04M	16.63M	11.79M	10.84M	4.80M	9.64M
Cash, Cash Equivalents and Short-Term Investments	2.73M	7.95M	2.09M	4.15M	232.96K	110.92K
Total Debt	869.00K	962.00K	0.00	73.08K	63.88K	91.58K
Total Liabilities	9.46M	10.90M	9.48M	10.99M	4.18M	23.14M
Stockholders Equity	6.58M	5.72M	2.31M	-150.43K	615.02K	-13.51M
Cash Flow
Free Cash Flow	-7.53M	-4.38M	133.00K	1.70M	-135.50K	-218.19K
Operating Cash Flow	-7.08M	-3.91M	762.00K	1.80M	633.39K	414.15K
Investing Cash Flow	-626.00K	-471.00K	-629.00K	222.55K	-768.89K	-632.35K
Financing Cash Flow	7.26M	7.68M	-336.00K	400.00K	-35.27K	0.00

High Roller Technologies, Inc. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
INSE	69 Neutral	$255.81M	4.93	―	―	4.03%	―
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
GDEN	57 Neutral	$719.62M	147.24	1.15%	3.71%	-12.25%	-84.89%
BALY	54 Neutral	$787.58M	-2.11	-114.88%	―	0.36%	47.55%
FLL	51 Neutral	$91.03M	-2.19	-121.54%	―	7.45%	5.03%
ROLR	50 Neutral	$22.35M	-9.25	-78.26%	―	3.80%	59.04%
MSC	40 Neutral	$733.29M	-10.27	-11.41%	―	9.50%	24.64%

High Roller Technologies, Inc. Corporate Events

High Roller Technologies Announces Strategic Private Placement Funding

On January 8, 2026, High Roller Technologies, Inc. entered into a stock purchase agreement with an accredited investor for a $1 million private placement of 357,143 restricted common shares at $2.80 per share, with closing expected on January 12, 2026, and the proceeds earmarked for working capital and general corporate purposes. The investment, made by Saratoga Casino Holdings LLC in its first move into the online gaming sector, strengthens High Roller’s strategic ties with a major land-based casino operator and underscores confidence in the company’s growth trajectory, while the board also approved an increase in Chief Executive Officer Seth Young’s annual base salary to $330,000, effective January 1, 2026, signaling continued commitment to leadership as the company scales its operations.

The most recent analyst rating on (ROLR) stock is a Hold with a $2.00 price target. To see the full list of analyst forecasts on High Roller Technologies, Inc. stock, see the ROLR Stock Forecast page.

High Roller Technologies Completes Estonian Online Gambling Acquisition

On December 31, 2025, High Roller Technologies, Inc., through its wholly owned Malta subsidiary Deepdive Holdings Ltd., completed the acquisition of 100% of the share capital of Happy Hour Solutions Ltd., which holds a valid remote gambling license from the Estonian Tax and Customs Board. As consideration, Deepdive transferred the casinoroom.com domain and related variations to the seller, consolidating High Roller’s access to regulated online gambling markets, while the transaction also highlighted notable related-party interests, as several shareholders and a director of High Roller hold indirect stakes in the acquired entity and its former parent, though each group’s direct ownership in the listed company remains below 10%.

The most recent analyst rating on (ROLR) stock is a Hold with a $2.50 price target. To see the full list of analyst forecasts on High Roller Technologies, Inc. stock, see the ROLR Stock Forecast page.

High Roller Technologies Acquires Happy Hour Solutions Casino Assets

On December 23, 2025, High Roller Technologies, Inc., through its Malta-based subsidiary Deepdive Holdings Ltd., agreed to acquire 100% of Happy Hour Solutions Ltd., which holds a valid remote gambling license from the Estonian Tax and Customs Board, and will also receive the casinoroom.com domain and related variations, with the transaction expected to close around December 31, 2025. The deal features notable related-party aspects: Spike Up Media A.B., a shareholder of High Roller that also holds a minority stake in the target, is partly owned by two High Roller directors and two of its largest shareholders, while various High Roller shareholders and one director collectively own about 66% of the target, underscoring significant overlap in ownership between the buyer and the acquired entity.

The most recent analyst rating on (ROLR) stock is a Buy with a $8.00 price target. To see the full list of analyst forecasts on High Roller Technologies, Inc. stock, see the ROLR Stock Forecast page.

High Roller Technologies Approves Equity Plan Amendment

On November 17, 2025, High Roller Technologies, Inc. held its annual meeting where stockholders approved an amendment to the company’s 2024 Equity Incentive Plan. This amendment increases the number of shares of common stock available for issuance from 1.7 million to 4.2 million. Additionally, stockholders elected six directors to serve until the 2026 annual meeting and ratified the appointment of WithumSmith+Brown, PC as the independent registered public accounting firm for the fiscal year ending December 31, 2025.

The most recent analyst rating on (ROLR) stock is a Buy with a $8.00 price target. To see the full list of analyst forecasts on High Roller Technologies, Inc. stock, see the ROLR Stock Forecast page.

High Roller Technologies Appoints New Chief Operating Officer

On November 10, 2025, High Roller Technologies appointed Jake Francis as Chief Operating Officer, effective November 12, 2025. Francis, who has extensive experience in operations and compliance in the gaming industry, previously consulted for the company and held senior roles at BlueBet, Hard Rock Hotel & Casino, NYX Gaming Group, and Penn Entertainment. High Roller Technologies also reported its Q3 2025 financial results, achieving its first quarterly profit as a public company. The company reported $6.3 million in revenue, increased gross margins, and positive adjusted EBITDA of $622,000. The results highlight strategic efforts in cost reduction, market focus, and operational efficiency, with plans for market expansion and product diversification.

The most recent analyst rating on (ROLR) stock is a Buy with a $8.00 price target. To see the full list of analyst forecasts on High Roller Technologies, Inc. stock, see the ROLR Stock Forecast page.