NorthStar Gaming Holdings Inc. operates in the Canadian sports betting and online casino gaming sector. The company shows a gross margin of 34.7%, indicating potential for profitability, but faces significant concerns with negative EBITDA and net margins of -57.6% and -58.9%, respectively, reflecting operational challenges. Its current ratio of 1.11 suggests adequate liquidity, yet the low market cap of $2.07M and stock price of $0.01 raise concerns about overall financial health and investor confidence. The combination of decent margins with poor profitability metrics highlights a critical need for operational improvement.
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Company has $5.8M in cash but burned $6.4M last quarter. At this burn rate, only 0.9 quarters of runway remain without additional financing.
Company posted a loss of $-18.4M over the last year, representing 56.4% of revenue.
Debt of $42.5M is 7.4x the company's cash position of $5.8M.
Operating cash flow has been negative for 3 consecutive quarters, burning $25.7M over the last year.
Exceptional revenue growth of 391.9% YoY demonstrates strong market demand and competitive positioning.
Operating margin expanded by 9.6pp, demonstrating strong operational leverage.
Both gross margin (+3.3pp) and operating margin (+9.6pp) are expanding simultaneously, indicating the company is scaling profitably.
Gross margin improvement of 3.3pp suggests operational efficiency gains.
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Based on 2025-Q3 (September 30, 2025)