High Roller Technologies, Inc. Revenue Disclosure
NOTE 4 – REVENUE
Disaggregated revenue for the years ended December 31, 2025 and 2024 is summarized as follows:
|
| For the Year Ended |
| ||||
|
| December 31, |
| ||||
(in thousands) |
| 2025 |
| 2024 |
| ||
Net gaming revenue |
| $ | 20,453 |
| $ | 23,206 |
|
Net revenue generated through non-core services |
|
| 5,543 |
|
| 3,558 |
|
Discontinued operations |
|
| (5,543) |
|
| (3,558) |
|
Total Revenue |
| $ | 20,453 |
| $ | 23,206 |
|
The Company’s revenue by country for those countries with significant revenue for the years ended December 31, 2025 and 2024 is summarized as follows:
|
| Year Ended December 31, |
| |||||||||||
(in thousands) |
| 2025 |
|
| 2024 |
| ||||||||
Finland |
| $ | 12,325 |
|
| 61 | % |
| $ | 10,675 |
|
| 46 | % |
New Zealand |
|
| 4,321 |
|
| 21 | % |
|
| 5,337 |
|
| 23 | % |
Norway |
|
| 997 |
|
| 5 | % |
|
| 3,017 |
|
| 13 | % |
Canada |
|
| 2,226 |
|
| 11 | % |
|
| 3,249 |
|
| 14 | % |
Rest of world |
|
| 584 |
|
| 2 | % |
|
| 928 |
|
| 4 | % |
Total Revenue |
| $ | 20,453 |
|
| 100 | % |
| $ | 23,206 |
|
| 100 | % |
As of December 31, 2025 and 2024, the Company had not recorded any contract assets or liabilities.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 10, 2026 | Showing above |
| 2024 | Mar 21, 2025 | |
About Revenue Disclosures
Revenue disclosures under ASC 606 explain how a company identifies performance obligations, allocates transaction prices, and determines when revenue is recognized. This section is essential for understanding whether reported revenue reflects genuine economic activity or aggressive accounting choices. Analysts examine the mix of point-in-time versus over-time recognition, which directly affects revenue timing and comparability.
Key signals: rising contract liabilities (deferred revenue) suggest strong future revenue visibility, while declining contract assets may indicate slowing project milestones. Watch for variable consideration estimates — rebates, returns, and performance bonuses that require management judgment. Significant changes in disaggregated revenue by geography or product line can reveal shifting business mix before it appears in headline numbers. Compare revenue growth against contract liability growth to assess sustainability, and scrutinize any changes in the timing of recognition that coincide with earnings pressure.