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High Roller Technologies

ROLR
32
Gambling, Resorts & Casinos · Consumer Cyclical
Price
$6.10
+0.01 (+0.16%)
Market Cap
$66.9M
Exchange
New York Stock Exchange American
Winston Score
32
Winston is serious
Below-average fundamentals — multiple weak pillars.
Data as of Aug 23, 2026 · filings through Jun 30, 2026
How the score breaks down
Quality
Mixed
Growth
Weak
Cash Flow
Weak
Stability
Good
Valuation
Mixed

Share count rising — dilution

+13.6% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 8.5M (2021) → 9.7M (2025)

Winston Score History

The full picture

High Roller Technologies runs an online casino platform aimed at high-spending gamblers, often called "high rollers." The company operates the HighRoller.com brand, offering digital slot games, table games like blackjack and roulette, and live dealer experiences to adult players in regulated online gambling markets.

The company earns money when players lose bets on its platform, keeping a percentage of wagers as revenue — a model common in online casinos. It operates primarily in European and other internationally regulated markets, with a market cap of roughly $100 million, making it a small player in a crowded industry dominated by much larger gambling companies. Its gross margin near 50% shows decent unit economics, but a deeply negative operating margin means it is spending heavily to grow and is not yet profitable. The main risk is intense competition from established gambling giants and the ongoing challenge of obtaining and maintaining licenses across different regulatory environments.

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-59.5% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-212.5% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$1M/ year

Rising (+30% vs prior year)

6.5% of revenue

1.6x the sector average (4%)

R&D investment increasing — building for the future

Insider Activity

56.2%ownership

Declining

Insider ownership declining — could be dilution or selling

Cash Runway

~19 months

$18M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Adequate runway but may need to raise capital within 2 years

Revenue declining

High Roller Technologies's revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale
Gross Margin
57.6%
Premium pricing power — 57.6% gross margin
Profit after running costs
Operating Margin
-88.0%
Losing money on operations — -88.0%
Return on the money invested
ROCE
-25.9%
Weak — -25.9% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth
Sales YoY
-55.9%
Shrinking sales (-55.9% YoY)
Profit growth
EPS YoY
N/A
Data not available
How steady the profit is
EPS Consistency
4/8 quarters
Earnings inconsistent quarter-to-quarter

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Cash Flow

Profit that turns into cash
Cash Conversion
N/A
Data not available
Spare cash per sale
FCF Margin
-37.7%
Burning cash (-37.7%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns
Debt / Equity
0.02
Conservative — low debt load (0.02)
Covers its interest
Interest Cover
N/A
Data not available

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Valuation

Price vs profit
P/E Ratio (TTM)
16.9x
Fair value — P/E 16.9

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

Cheaper or dearer next year
P/E vs Forward
N/A
not available
Data not available

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Dividends

Not applicable for this business.
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