High Roller Technologies has reported its financial results for the fourth quarter of 2025 and full-year, as the operator witnessed decreases in net revenue across both periods, but also improved net incomes amid its recent focus on prediction markets.
How has High Roller joined the prediction markets party?
The operator entered into a binding agreement with Crytpo.com and Derivatives North America (CDNA) on January 14 to begin offering an event-based prediction markets product in the US.
High Roller stated the new partnership with Crypto.com allows its consumers to trade event contracts across markets such as finance, entertainment and sports through a “legal, engaging and user-friendly platform.”
The event contracts offered on High Roller’s online platform will be offered by CDNA, which is registered under the Commodity Futures Trading Commission as an exchange and clearinghouse while serving as an affiliate of Crypto.com.
“2025 capped a period of significant transformation for High Roller as we improved operational efficiency, refined our geographic footprint and positioned the business for the next phase of growth as we expand into one of the most compelling new regulated categories – US Prediction Markets,” High Roller CEO Seth Young said.
“While we intentionally ceased B2C operations in certain markets throughout the year in response to regulatory shifts, we have worked diligently in parallel to prepare the business for the kind of scale we are anticipating through new market and product launches in 2026.”
Was High Roller able to meet financial expectations during Q4?
For the fourth quarter of 2025, High Roller witnessed a 20.3% decrease in net revenue to $4.7m, said to be primarily caused by a “planned exit from certain markets.”
The operator also reported an adjusted EBITDA loss of $427,000 during Q4 2025, although the figure equates to a 79.6% decrease from the prior year’s $2.3m loss. Net income from continuing operations totaled $2.7m, rising from the $3m net loss reported for the fourth quarter of 2024.
In January 2026, High Roller concluded its registered direct public offering of nearly 1.9m shares of common stock, priced at $13.21 per share, with net proceeds expected to go toward sales & marketing efforts, geographic expansion, product development and diversification.
High Roller also made a number of personnel moves for the new year, such as appointing Jake Francis as its new COO, Carlo Scappaticci to the role of CMO and brought on Frances Cong as Director of Marketing.
Can FY2025 financial results be used to predict the future of High Roller?
The operator reported an 11.9% decrease in net revenue for FY2025 to $20.5m, while net income during the full-year period totaled $690,000 and increased from the $8.6m loss witnessed across FY2024.
Total operating expenses for High Roller cost $26.6m during FY2025, representing a decrease of 16% year-over-year. High Roller stated the decrease was primarily caused by lower direct operating costs, advertising spend and promotions.
Despite the improved net income, High Roller still reported a $6.2m operating loss for FY2025, but improved the figure from an $8.5m loss generated during the prior year period. The operator’s adjusted EBITDA also improved even with a reported loss of $3.7m during FY2025, decreasing from a $5.7m loss for FY2024.
According to High Roller, the operator has raised $26m in total gross proceeds as of FY2025's end, including a $1m investment by Saratoga Casino and the $25m produced by its sale of 1.9m common stock shares.
High Roller Technologies appointed Andrew Walter as its new Chief Legal and Compliance Officer on March 6, providing experience in legislative strategy, compliance initiatives and responsible gaming activations
