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Side-by-side financial comparison of High Roller Technologies, Inc. (ROLR) and TON Strategy Co (TONX). Click either name above to swap in a different company.

High Roller Technologies, Inc. is the larger business by last-quarter revenue ($6.3M vs $5.7M, roughly 1.1× TON Strategy Co). High Roller Technologies, Inc. runs the higher net margin — 58.4% vs -3968.6%, a 4026.9% gap on every dollar of revenue. On growth, TON Strategy Co posted the faster year-over-year revenue change (694.2% vs -16.4%). High Roller Technologies, Inc. produced more free cash flow last quarter ($-90.0K vs $-8.0M).

ROLR vs TONX — Head-to-Head

Bigger by revenue
ROLR
ROLR
1.1× larger
ROLR
$6.3M
$5.7M
TONX
Growing faster (revenue YoY)
TONX
TONX
+710.6% gap
TONX
694.2%
-16.4%
ROLR
Higher net margin
ROLR
ROLR
4026.9% more per $
ROLR
58.4%
-3968.6%
TONX
More free cash flow
ROLR
ROLR
$7.9M more FCF
ROLR
$-90.0K
$-8.0M
TONX

Income Statement — Q3 FY2025 vs Q4 FY2025

Metric
ROLR
ROLR
TONX
TONX
Revenue
$6.3M
$5.7M
Net Profit
$3.7M
$-227.9M
Gross Margin
64.3%
Operating Margin
1.3%
-159.2%
Net Margin
58.4%
-3968.6%
Revenue YoY
-16.4%
694.2%
Net Profit YoY
831.9%
-7047.9%
EPS (diluted)
$0.39
$-3.89

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.

Revenue
ROLR
ROLR
TONX
TONX
Q4 25
$5.7M
Q3 25
$6.3M
$3.6M
Q2 25
$6.9M
$2.1M
Q1 25
$6.8M
$1.3M
Q4 24
$723.0K
Q3 24
$7.5M
Q4 22
$-5.1M
Q2 22
$2.4M
Net Profit
ROLR
ROLR
TONX
TONX
Q4 25
$-227.9M
Q3 25
$3.7M
$84.3M
Q2 25
$-592.0K
$-2.4M
Q1 25
$-3.3M
$-2.6M
Q4 24
$-3.2M
Q3 24
$-501.0K
Q4 22
$-16.0M
Q2 22
$-6.4M
Gross Margin
ROLR
ROLR
TONX
TONX
Q4 25
64.3%
Q3 25
75.4%
Q2 25
71.2%
Q1 25
73.4%
Q4 24
81.5%
Q3 24
Q4 22
Q2 22
65.2%
Operating Margin
ROLR
ROLR
TONX
TONX
Q4 25
-159.2%
Q3 25
1.3%
-601.5%
Q2 25
-7.2%
-138.2%
Q1 25
-47.4%
-203.8%
Q4 24
-513.1%
Q3 24
-6.3%
Q4 22
Q2 22
-200.3%
Net Margin
ROLR
ROLR
TONX
TONX
Q4 25
-3968.6%
Q3 25
58.4%
2336.8%
Q2 25
-8.5%
-111.9%
Q1 25
-48.4%
-196.5%
Q4 24
-440.9%
Q3 24
-6.7%
Q4 22
315.6%
Q2 22
-265.7%
EPS (diluted)
ROLR
ROLR
TONX
TONX
Q4 25
$-3.89
Q3 25
$0.39
$2.23
Q2 25
$-0.07
$-1.79
Q1 25
$-0.39
$-2.51
Q4 24
$10.41
Q3 24
$-0.07
Q4 22
Q2 22
$-2.63

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
ROLR
ROLR
TONX
TONX
Cash + ST InvestmentsLiquidity on hand
$2.7M
$39.5M
Total DebtLower is stronger
Stockholders' EquityBook value
$6.6M
$406.5M
Total Assets
$16.0M
$411.2M
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
ROLR
ROLR
TONX
TONX
Q4 25
$39.5M
Q3 25
$2.7M
$53.9M
Q2 25
$2.7M
$10.4M
Q1 25
$3.5M
$12.2M
Q4 24
$12.5M
Q3 24
$1.3M
Q4 22
$2.4M
Q2 22
$5.5M
Stockholders' Equity
ROLR
ROLR
TONX
TONX
Q4 25
$406.5M
Q3 25
$6.6M
$639.1M
Q2 25
$2.6M
$19.4M
Q1 25
$2.8M
$14.6M
Q4 24
$16.2M
Q3 24
$-779.0K
Q4 22
$5.2M
Q2 22
$23.5M
Total Assets
ROLR
ROLR
TONX
TONX
Q4 25
$411.2M
Q3 25
$16.0M
$661.9M
Q2 25
$12.3M
$23.7M
Q1 25
$12.8M
$18.4M
Q4 24
$20.6M
Q3 24
$12.9M
Q4 22
$24.5M
Q2 22
$40.4M

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
ROLR
ROLR
TONX
TONX
Operating Cash FlowLast quarter
$-78.0K
$-8.0M
Free Cash FlowOCF − Capex
$-90.0K
$-8.0M
FCF MarginFCF / Revenue
-1.4%
-139.3%
Capex IntensityCapex / Revenue
0.2%
0.1%
Cash ConversionOCF / Net Profit
-0.02×
TTM Free Cash FlowTrailing 4 quarters
$-20.9M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
ROLR
ROLR
TONX
TONX
Q4 25
$-8.0M
Q3 25
$-78.0K
$-9.4M
Q2 25
$-840.0K
$-2.3M
Q1 25
$-3.6M
$-1.1M
Q4 24
$-1.9M
Q3 24
Q4 22
$-3.4M
Q2 22
$-5.1M
Free Cash Flow
ROLR
ROLR
TONX
TONX
Q4 25
$-8.0M
Q3 25
$-90.0K
$-9.4M
Q2 25
$-845.0K
$-2.3M
Q1 25
$-3.6M
$-1.1M
Q4 24
$-2.0M
Q3 24
Q4 22
Q2 22
FCF Margin
ROLR
ROLR
TONX
TONX
Q4 25
-139.3%
Q3 25
-1.4%
-261.4%
Q2 25
-12.2%
-107.8%
Q1 25
-53.5%
-87.0%
Q4 24
-279.9%
Q3 24
Q4 22
Q2 22
Capex Intensity
ROLR
ROLR
TONX
TONX
Q4 25
0.1%
Q3 25
0.2%
0.4%
Q2 25
0.1%
0.1%
Q1 25
0.2%
5.1%
Q4 24
22.1%
Q3 24
Q4 22
Q2 22
Cash Conversion
ROLR
ROLR
TONX
TONX
Q4 25
Q3 25
-0.02×
-0.11×
Q2 25
Q1 25
Q4 24
Q3 24
Q4 22
Q2 22

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

Revenue Breakdown by Segment

ROLR
ROLR

Net Gaming Revenue$4.9M77%
Net Revenue Noncore Services$1.4M23%

TONX
TONX

Market Live$4.8M83%
Other$960.0K17%

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