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Side-by-side financial comparison of Red Cat Holdings, Inc. (RCAT) and High Roller Technologies, Inc. (ROLR). Click either name above to swap in a different company.
Red Cat Holdings, Inc. is the larger business by last-quarter revenue ($9.6M vs $6.3M, roughly 1.5× High Roller Technologies, Inc.). High Roller Technologies, Inc. runs the higher net margin — 58.4% vs -166.0%, a 224.4% gap on every dollar of revenue. On growth, Red Cat Holdings, Inc. posted the faster year-over-year revenue change (988.2% vs -16.4%). High Roller Technologies, Inc. produced more free cash flow last quarter ($-90.0K vs $-24.5M).
Mega Cat Studios is an American video game development and publishing company located in Pittsburgh, Pennsylvania. It was founded in 2015 by James Deighan, Nick Mann, and Zack Manko.
S&S – Sansei Technologies is an American company known for its pneumatically powered amusement rides and roller coaster designing.
RCAT vs ROLR — Head-to-Head
Income Statement — Q3 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $9.6M | $6.3M |
| Net Profit | $-16.0M | $3.7M |
| Gross Margin | 6.6% | — |
| Operating Margin | -181.7% | 1.3% |
| Net Margin | -166.0% | 58.4% |
| Revenue YoY | 988.2% | -16.4% |
| Net Profit YoY | -29.0% | 831.9% |
| EPS (diluted) | $-0.16 | $0.39 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q3 25 | $9.6M | $6.3M | ||
| Q2 25 | — | $6.9M | ||
| Q1 25 | $1.6M | $6.8M | ||
| Q4 24 | $0 | — | ||
| Q3 24 | — | $7.5M | ||
| Q1 24 | $5.8M | — | ||
| Q2 22 | $1.3M | — | ||
| Q1 22 | $1.9M | — |
| Q3 25 | $-16.0M | $3.7M | ||
| Q2 25 | — | $-592.0K | ||
| Q1 25 | $-23.1M | $-3.3M | ||
| Q4 24 | $-13.3M | — | ||
| Q3 24 | — | $-501.0K | ||
| Q1 24 | $-5.5M | — | ||
| Q2 22 | $-4.8M | — | ||
| Q1 22 | $-2.6M | — |
| Q3 25 | 6.6% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | -52.2% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q1 24 | 18.8% | — | ||
| Q2 22 | 25.2% | — | ||
| Q1 22 | 18.3% | — |
| Q3 25 | -181.7% | 1.3% | ||
| Q2 25 | — | -7.2% | ||
| Q1 25 | -765.7% | -47.4% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | -6.3% | ||
| Q1 24 | -76.0% | — | ||
| Q2 22 | — | — | ||
| Q1 22 | — | — |
| Q3 25 | -166.0% | 58.4% | ||
| Q2 25 | — | -8.5% | ||
| Q1 25 | -1418.9% | -48.4% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | -6.7% | ||
| Q1 24 | -93.9% | — | ||
| Q2 22 | -367.8% | — | ||
| Q1 22 | -138.1% | — |
| Q3 25 | $-0.16 | $0.39 | ||
| Q2 25 | — | $-0.07 | ||
| Q1 25 | $-0.27 | $-0.39 | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $-0.07 | ||
| Q1 24 | — | — | ||
| Q2 22 | — | — | ||
| Q1 22 | — | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $2.7M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $253.3M | $6.6M |
| Total Assets | $286.0M | $16.0M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q3 25 | — | $2.7M | ||
| Q2 25 | — | $2.7M | ||
| Q1 25 | — | $3.5M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $1.3M | ||
| Q1 24 | — | — | ||
| Q2 22 | — | — | ||
| Q1 22 | — | — |
| Q3 25 | $253.3M | $6.6M | ||
| Q2 25 | — | $2.6M | ||
| Q1 25 | $28.9M | $2.8M | ||
| Q4 24 | $27.0M | — | ||
| Q3 24 | — | $-779.0K | ||
| Q1 24 | $49.6M | — | ||
| Q2 22 | — | — | ||
| Q1 22 | $83.3M | — |
| Q3 25 | $286.0M | $16.0M | ||
| Q2 25 | — | $12.3M | ||
| Q1 25 | $59.7M | $12.8M | ||
| Q4 24 | $51.1M | — | ||
| Q3 24 | — | $12.9M | ||
| Q1 24 | $55.3M | — | ||
| Q2 22 | $85.1M | — | ||
| Q1 22 | $90.4M | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-23.9M | $-78.0K |
| Free Cash FlowOCF − Capex | $-24.5M | $-90.0K |
| FCF MarginFCF / Revenue | -254.2% | -1.4% |
| Capex IntensityCapex / Revenue | 6.9% | 0.2% |
| Cash ConversionOCF / Net Profit | — | -0.02× |
| TTM Free Cash FlowTrailing 4 quarters | $-55.0M | — |
8-quarter trend — quarters aligned by calendar period.
| Q3 25 | $-23.9M | $-78.0K | ||
| Q2 25 | — | $-840.0K | ||
| Q1 25 | $-15.9M | $-3.6M | ||
| Q4 24 | $-10.1M | — | ||
| Q3 24 | — | — | ||
| Q1 24 | $-4.1M | — | ||
| Q2 22 | $-4.0M | — | ||
| Q1 22 | $-3.5M | — |
| Q3 25 | $-24.5M | $-90.0K | ||
| Q2 25 | — | $-845.0K | ||
| Q1 25 | $-16.2M | $-3.6M | ||
| Q4 24 | $-10.2M | — | ||
| Q3 24 | — | — | ||
| Q1 24 | $-4.2M | — | ||
| Q2 22 | — | — | ||
| Q1 22 | $-3.5M | — |
| Q3 25 | -254.2% | -1.4% | ||
| Q2 25 | — | -12.2% | ||
| Q1 25 | -992.9% | -53.5% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q1 24 | -71.1% | — | ||
| Q2 22 | — | — | ||
| Q1 22 | -190.3% | — |
| Q3 25 | 6.9% | 0.2% | ||
| Q2 25 | — | 0.1% | ||
| Q1 25 | 16.8% | 0.2% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q1 24 | 0.8% | — | ||
| Q2 22 | — | — | ||
| Q1 22 | 3.4% | — |
| Q3 25 | — | -0.02× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q1 24 | — | — | ||
| Q2 22 | — | — | ||
| Q1 22 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
RCAT
| Products | $8.5M | 88% |
| Services | $1.2M | 12% |
ROLR
| Net Gaming Revenue | $4.9M | 77% |
| Net Revenue Noncore Services | $1.4M | 23% |
