GAN Earnings Reports

GAN's Q1 2025 performance showed strong growth in B2C revenues, particularly in Europe and Latin America, but was weighed down by a significant decline in B2B segment revenue due to contract expiration. Net loss widened as a result, despite improved operational cost efficiency.

GAN reported a 24% increase in revenue compared to the prior year, driven by a B2B revenue growth of more than 60%. Operating costs decreased by nearly 10%. The merger with SEGASAMMY is expected to close in early 2025.

GAN Limited reported improved financial results for the second quarter of 2024, driven by growth in B2B revenues and continued cost rationalization. The company is progressing with its planned merger with SEGASAMMY, expected to close in late 2024 or early 2025.

GAN Limited reported its Q1 2024 financial results, highlighting strong B2B revenue growth and reduced operating expenses. However, B2C revenues were impacted by a lower sports margin. The merger with SegaSammy remains on track and is expected to close in late 2024 or early 2025.

GAN Limited reported its unaudited financial results for the quarter and year ended December 31, 2023, anticipating the completion of its merger with Sega Sammy Holdings in late 2024 or early 2025.

GAN Limited reported its financial results for the quarter ended June 30, 2023. The company continued to see strength in international markets for B2C, expanded its roll-out of GAN Sports, and made significant progress on the new GameSTACK 2.0 version of its technology platform. The company has received indications of interest from prospective bidders interested in acquiring all or part of its business and a special committee is evaluating those alternatives.

GAN Limited reported strong underlying KPIs for both its B2B and B2C businesses in Q1 2023. B2B Gross Operator Revenue increased over 40% compared to the prior year quarter. The company is progressing with its strategic alternatives review to maximize shareholder value and has bolstered its financial position through a term loan transaction.

GAN Limited reported strong B2C KPIs with active customers growing by nearly 50%. The company announced a strategic review to evaluate options for maximizing shareholder value and is focusing on GAN Sports and Latin American B2C operations.

GAN Limited's third quarter was marked by the launch of B2B sports betting technology and managed trading services in the U.S. The company is focused on cost rationalization and productivity enhancements to navigate a challenging environment. A difficult foreign exchange environment and European headwinds impacted the third quarter performance.

GAN Limited reported its Q2 2022 financial results, highlighting progress toward the launch of GAMESTACK 2.0 and GAN Sports in U.S. markets. The company is focused on cost-saving initiatives and revised its full-year revenue expectation to $142.5 million to $152.5 million and Adjusted EBITDA expectations to $10 to $15 million.

GAN Limited reported a strong start to 2022 with record revenue of $37.5 million, a 38% increase year-over-year. The company also improved its net loss to $4.5 million and achieved an adjusted EBITDA of $3 million, driven by organic growth and cost rationalization efforts. GAN reaffirms its full-year revenue expectation of $155 million to $165 million and Adjusted EBITDA expectation of $15 million to $20 million.

GAN Limited reported its Q4 and full year 2021 financial results. The company's Q4 results were affected by the volatile sports margin in the B2C segment. However, GAN achieved strategic wins, launched in new states, and acquired Silverback Gaming. GAN projects strong revenue growth and improved profitability for 2022.

GAN Limited reported a decrease in total revenue compared to the previous quarter, driven by sports seasonality and lower sports betting margins. However, B2B segment revenue increased, and the company added new clients and expanded partnerships. The company is focused on capital allocation towards people and technology, with plans to reach $500+ million of revenue by 2026.

GAN Limited reported a 24% increase in total revenues, driven by strong growth in the B2C segment, primarily in Latin America and Northern Europe. The company's B2B US gross operator revenue grew 4% sequentially. GAN also signed exclusive deals with Ainsworth and Incredible Technologies, further augmenting their content portfolio.

GAN Limited reported a 263% increase in total revenues to $27.8 million, driven by growth in both its B2B segment and the addition of the Coolbet B2C segment. However, the company reported a net loss of $4.5 million due to increased operating expenses, including amortization of acquired intangibles and share-based compensation.

GAN reported its Q4 and full-year 2020 financial results, noting a strong start to 2021 and providing a 2021 revenue outlook of $100 - $105 million. The company saw revenue increase and is integrating Coolbet's B2B sportsbook engine.