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Jun 30, 2021
GAN Q2 2021 Earnings Report
GAN reported strong Q2 2021 results, driven by B2C segment growth and strategic investments.
Key Takeaways
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.
Total revenues increased by 24% to $34.6 million compared to the previous quarter.
B2C segment revenues saw a 68% increase, reaching $24.0 million.
Consolidated gross profit rose to $24.3 million, driven by increased margins in the B2C segment.
Adjusted EBITDA increased to $4.6 million, driven by higher revenue offsetting strategic investments.
GAN
GAN
GAN Revenue by Segment
GAN Revenue by Geographic Location
Revenue by Segment
B2B Segment Revenue
CapyFin.comB2C Segment Revenue
CapyFin.comRevenue by Geographic Location
United States Revenue
CapyFin.comEurope Revenue
CapyFin.comLatin America Revenue
CapyFin.comRest of the World Revenue
CapyFin.com Forward Guidance
The company expects continued strong performance from its B2C segment, particularly in Latin America and Northern Europe, as well as from its B2B segment as it gains new client wins in major markets. They also expect improvement in their profitability metrics as revenue growth aligns with the increased scale needed to support their expanded operations. The company reiterates revenue guidance of $125 - $135 Million.
Positive Outlook
- Continued strong performance from B2C segment
- Growth in Latin America and Northern Europe
- New client wins in major markets for B2B segment
- Improvement in profitability metrics
- Revenue growth aligning with increased scale
Revenue & Expenses
Visualization of income flow from segment revenue to net income