The company's operating margin of -86.9% in 2026Q1 highlights a failure to achieve economies of scale as SG&A expenses continue to outpace gross profit generation.
| Sales/Revenue | 17.05M | 20.45M | 27.88M | 29.68M | 18.49M | 13.45M | 14.77M |
| Revenue Growth % | -39.43% | -26.64% | -6.04% | 60.48% | 37.53% | -8.95% | - |
| Cost of Goods Sold | 8.59M | 9.61M | 12.94M | 13.65M | 7.54M | 1.51M | 10.32M |
| COGS % of Revenue | - | 46.98% | 46.42% | 45.99% | 40.79% | 11.26% | 69.88% |
| Gross Profit | 8.46M | 10.84M | 14.94M | 16.03M | 10.95M | 11.93M | 4.45M |
| Gross Margin % | 49.63% | 53.02% | 53.58% | 54.01% | 59.21% | 88.74% | 30.12% |
| Gross Profit Growth % | - | -27.42% | -6.78% | 46.38% | -8.24% | 168.29% | - |
| Operating Expenses | 14.35M | 16.52M | 20.73M | 18.72M | 13.91M | 10.93M | 4.18M |
| OpEx % of Revenue | - | 80.78% | 74.36% | 63.08% | 75.21% | 81.3% | 28.33% |
| Selling, General & Admin | 13.14M | 16M | 19.71M | 18.13M | 11.88M | 10.24M | 3.73M |
| SG&A % of Revenue | - | 78.21% | 70.68% | 61.11% | 64.26% | 76.19% | 25.26% |
| Research & Development | 1.21M | 1.34M | 1.03M | 584K | 1.09M | 687.75K | 453.98K |
| R&D % of Revenue | - | 6.54% | 3.68% | 1.97% | 5.89% | 5.12% | 3.07% |
| Other Operating Expenses | 0 | -813K | 0 | 0 | 935.26K | 0 | 0 |
| Operating Income | -5.89M | -5.68M | -5.79M | -2.69M | -2.96M | 1M | 263.66K |
| Operating Margin % | -34.54% | -27.76% | -20.77% | -9.07% | -16% | 7.44% | 1.79% |
| Operating Income Growth % | - | 1.99% | -115.24% | 9.06% | -395.85% | 279.35% | - |
| EBITDA | -5.66M | -5.36M | -5.55M | -2.63M | -2.96M | 1M | 274.73K |
| EBITDA Margin % | -33.22% | -26.23% | -19.9% | -8.87% | -15.98% | 7.44% | 1.86% |
| EBITDA Growth % | 18.04% | 3.33% | -110.91% | 10.97% | -395.32% | 264.23% | - |
| D&A (Non-Cash Add-back) | 226K | 313K | 243K | 60K | 3.97K | 465 | 11.07K |
| EBIT | -1.89M | -5.68M | -5.79M | -2.69M | -2.96M | 1M | 263.66K |
| Net Interest Income | -62K | -74K | -125K | -114K | -106.55K | -2K | -179.92K |
| Interest Income | 46K | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 108K | 74K | 125K | 114K | 106.55K | 2K | 179.92K |
| Other Income/Expense | 3.95M | 3.42M | -124K | -114K | -106.55K | -2K | -179.92K |
| Pretax Income | -1.94M | -2.25M | -5.92M | -2.81M | -3.07M | 998.19K | 83.74K |
| Pretax Margin % | -11.4% | -11.01% | -21.22% | -9.45% | -16.58% | 7.42% | 0.57% |
| Income Tax | -2.94M | -2.94M | 7K | 13K | -7.31K | 19.74K | 15.25K |
| Effective Tax Rate % | 151.47% | 130.64% | -0.12% | -0.46% | 0.24% | 1.98% | 18.21% |
| Net Income | 1M | 690K | -5.92M | -2.82M | -3.06M | 978.45K | 68.49K |
| Net Margin % | 5.87% | 3.37% | -21.24% | -9.5% | -16.54% | 7.28% | 0.46% |
| Net Income Growth % | 113.61% | 111.65% | -110.18% | 7.86% | -412.57% | 1328.68% | - |
| Net Income (Continuing) | 1M | 690K | -5.92M | -2.82M | -3.06M | 978.45K | 68.49K |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 0.10 | 0.36 | -0.82 | -0.34 | -0.37 | 0.12 | 0.01 |
| EPS Growth % | 146.67% | 143.9% | -141.18% | 8.11% | -408.33% | - | - |
| EPS (Basic) | - | 0.41 | -0.82 | -0.34 | -0.37 | 0.12 | 0.01 |
| Diluted Shares Outstanding | 10.4M | 9.66M | 7.25M | 8.5M | 8.5M | 8.5M | 8.27M |
| Basic Shares Outstanding | 10.4M | 8.44M | 7.25M | 8.27M | 8.5M | 8.5M | 8.27M |
| Dividend Payout Ratio | - | - | - | - | - | - | - |
Liquidity and operational scale
As reported in recent financial filings, ROLR experienced a significant revenue decline, with the most recent quarterly figures showing a 50.3% year-over-year contraction, highlighting the company's struggle to maintain its player base and effectively execute its premium-niche growth strategy in a highly competitive iGaming market.
The persistent downward trend in top-line performance suggests that the company's focus on high-net-worth players may be failing to offset the broader market's aggressive customer acquisition tactics. Investors should monitor whether this revenue volatility reflects a strategic pivot away from specific jurisdictions or a fundamental loss of competitive relevance.
Based on the provided income statement data, ROLR's operating margin of -86.9% in the most recent quarter demonstrates a failure to achieve necessary economies of scale, as fixed SG&A expenses continue to significantly outpace the company's ability to generate sustainable gross profit from its gaming operations.
The inability to scale operating income alongside revenue suggests that the current cost structure is too rigid for the company's fluctuating volume. Without a substantial increase in wagering activity or a reduction in fixed overhead, the path to positive operating leverage appears increasingly narrow.
According to the historical income statement, the company's occasional positive net income, such as the 191.6% net margin reported in 2025Q4, appears disconnected from its core operating performance, suggesting that non-recurring gains or tax credits are temporarily inflating bottom-line results while the underlying business continues to burn cash.
Analysts should exercise caution when interpreting these net income figures, as they do not reflect the ongoing operational losses inherent in the business model. This discrepancy warrants further investigation into the nature of these non-operating items to determine if they represent sustainable financial health or merely accounting anomalies.
As indicated by the company's financial statements, the combination of a -27.76% average operating margin and limited cash reserves suggests that ROLR faces a potential liquidity crunch, forcing investors to consider whether the current business model is sustainable without the prospect of a dilutive equity raise.
Short-term survival appears to be the primary challenge, as the company's current cash position may be insufficient to cover prolonged operating deficits. The lack of a proprietary sportsbook funnel further exacerbates this risk, leaving the company vulnerable to shifts in platform royalty costs and regulatory compliance requirements.
Quick answers to the most common questions about buying ROLR stock.
For fiscal year 2025, High Roller Technologies, Inc. (ROLR) reported total revenue of $20.5M. This represents a 38.5% increase compared to $14.8M in 2020.
High Roller Technologies, Inc. (ROLR) is profitable, generating $0.7M in net income for the fiscal year ending 2025 with a net profit margin of 3.4%.
High Roller Technologies, Inc. (ROLR) reported an operating income of $-5.7M, resulting in an operating profit margin of -27.8%. This margin reflects the operational efficiency of the business before interest and taxes.
High Roller Technologies, Inc. (ROLR) generated $10.8M in gross profit for the year, representing a gross profit margin of 53.0%. This demonstrates the company's core pricing power and production efficiency.