High Roller Q2 Revenue Falls 52% to $2.8 Million as Prediction-Markets Push Widens Loss
Updated
Updated · Yahoo Finance · Aug 12
High Roller Q2 Revenue Falls 52% to $2.8 Million as Prediction-Markets Push Widens Loss
3 articles · Updated · Yahoo Finance · Aug 12
Summary
$2.8 million in Q2 revenue marked a 52% drop for High Roller, while its operating loss widened to $2.5 million from $1.1 million a year earlier.
The decline stemmed from exiting certain legacy online casino markets, tighter marketing and a deliberate shift toward the planned ROLR U.S. prediction-markets platform.
Adjusted EBITDA deteriorated to negative $1.8 million even as total operating expenses fell 22% to $5.3 million, with lower direct and promotional costs partly offset by higher regulatory and launch-readiness spending.
$18 million in cash at June 30 was supported by first-quarter fundraising, but the company used $5.9 million in operating cash in the first half and expects second-half spending to stay near Q2 levels.
Management said it remains on track to launch ROLR without giving a date, after joining the National Futures Association and partnering with Crypto.com.