GAN Q3 2021 Earnings Report
Key Takeaways
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.
Total revenue decreased by 7% to $32.3 million due to sports seasonality and lower sports betting margins.
B2B segment revenue increased by 5% to $11.2 million, driven by hardware sales.
B2C segment revenue decreased to $21.1 million due to lower sports betting margins.
Net loss was $7.9 million, and Adjusted EBITDA was slightly higher than breakeven.
GAN
GAN
GAN Revenue by Segment
GAN Revenue by Geographic Location
Forward Guidance
The Company is reiterating its full-year revenue expectation for $125 million to $135 million.
Positive Outlook
- Maintain a robust cash position
- Zero debt
- Strong position to add to our Super RGS portfolio
- Invest in our people and technology
- Launch GAN Sports and support new client launches
Revenue & Expenses
Visualization of income flow from segment revenue to net income