GAN Limited

NasdaqCM:GAN Lagerbericht

Marktkapitalisierung: US$91.5m

This company has been acquired

The company may no longer be operating, as it has been acquired. Find out why through their latest events.

GAN Vergangene Ertragsentwicklung

Vergangenheit Kriterienprüfungen 0/6

Die Gewinne von GAN sind mit einer durchschnittlichen Jahresrate von -16.9% zurückgegangen, während die Gewinne der Branche Hospitality um 35.4% pro Jahr wuchsen. Die Umsätze sind gewachsen mit einer durchschnittlichen Jahresrate von 20.7%.

Wichtige Informationen

-16.87%

Wachstumsrate der Gewinne

-13.66%

EPS-Wachstumsrate

Hospitality Wachstum der Industrie19.52%
Wachstumsrate der Einnahmen20.74%
Eigenkapitalrenditen/a
Netto-Marge-7.95%
Letzte Ertragsaktualisierung31 Mar 2025

Jüngste Aktualisierungen vergangener Leistungen

Recent updates

Analyseartikel • Sep 23

GAN (NASDAQ:GAN) Has Debt But No Earnings; Should You Worry?

David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...
Analyseartikel • Jun 21

Does GAN (NASDAQ:GAN) Have A Healthy Balance Sheet?

Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...
Analyseartikel • Dec 27

Is GAN (NASDAQ:GAN) A Risky Investment?

David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...
Seeking Alpha • Oct 07

GAN Limited Will Recover But The Market Needs To Change Mood

Summary Online gambling should hold up strongly in the event of a recession. GAN Limited looks well prepared if the bullish market returns. Interesting catalysts point to a potentially good recovery, but the market needs to change sentiment. Online Gambling Will Hold Up Strongly in the Event of a Recession With inflation likely to remain far from the 2% target, central banks in the Americas and Europe appear poised to continue raising the cost of money aggressively to send recession signals to consumers. They are therefore being urged to tighten their consumption restraints as energy costs - the main component of the current runaway inflation - are poised to absorb more of their income, which now has less purchasing power than in the recent past. Inevitably, then, the coming weeks will see a slowdown in the consumption of certain products and services, while others that meet basic needs will be much more resilient. Surprisingly, even in a highly possible recession scenario, the demand for gambling and lotteries, as well as sports betting and others, which can now be done online with the proliferation of internet technology and the increasing adoption of mobile phones, will suffer much less than other services. This trend of people gambling even during an economic recession could be because these individuals may see their activity as an opportunity to generate significant income. Another reason for being resilient during tough economic times could be that online gambling is usually very addictive for its players. So, online gambling will not falter when the next economic slowdown hits. The global market for this activity is expected to grow nearly 14% annually over the next six years to about $145 billion in 2028. From a business standpoint, even in the darkest of economic times, online gambling won't bend. Indeed, during the severe crisis caused by the pandemic spread of the COVID-19 virus, gambling found a strong ally in lockdowns and restrictions to gain momentum. Therefore, the companies that generate and sell these services saw their sales surge during the pandemic, when many other services took a heavy toll. Gambling Stocks Also Fell Due to Heightened Recession Risk From a stock market perspective, however, many of these US-listed online gambling companies have not demonstrated the same resilience. Influenced by fears of an economic recession or slowdown, investors have treated online gambling stocks as discretionary stocks, forgetting that gambling services are sold even during downturns in the economic cycle. Thus, roughly in line with stock market performance, they have also fallen due to headwinds from the prevailing bearish sentiment. The chart below shows well-known online gambling stocks that are down significantly year-to-date, with decline rates roughly in line with the NASDAQ Composite (^IXIC)'s 29.59% drop. The NASDAQ Composite is considered the benchmark index for this purpose because these stocks are typically traded on the stock exchange for tech stocks. seekingalpha/symbol/IGT In some cases, the loss has been even larger, such as for Sportradar Group AG (SRAD) stock, which has really suffered from the bearish sentiment, falling more than 55%. However, the possibility to take advantage of significantly lower stock prices creates the following investment opportunity. Once in bullish mode, a solid shareholder return could occur among online gambling stocks if the stock market valuation reflects the expected strong 14% annual growth in the global online market, as mentioned before. This should happen because when the market is generally bullish, online gambling stocks are very popular. GAN Limited Looks Well Prepared for When the Bullish Market is Back Among the US-listed equities in online gambling companies, GAN Limited (GAN) stock appears well-positioned to benefit from a return to bullish sentiment. But as long as the market focuses on energy stocks to take advantage of record oil and gas prices, while risk aversion is generally high among US-listed stocks, shares of GAN Limited are likely to remain under pressure for a while. The downtrend, as shown in the chart below, has been going on for months. //seekingalpha/symbol/GAN Based on a comparison to the benchmark index for the market, GAN Limited stock literally plummeted, underperforming a bearish NASDAQ Composite (^IXIC) by about 45%. Aside from this negative price action that irks shareholders, there is no further impediment to not assuming a brighter future for the stock price, knowing that this trend has little to do with the company's fundamentals. Despite the share price, the business is characterized by very positive and increasing trends in the business-to-business segment, as well as traffic generated by the business-to-consumer segment on the platform and the success of marketing strategies in attracting new players to the platform. Relevant Trends in GAN Limited's Business Based in Irvine, California, GAN Ltd operates the business-to-business [B2B] segment and the business-to-consumer segment [B2C]. For the B2B segment, GAN acts as a leading provider of software-as-a-service solutions for Internet gambling, which are now primarily used in the US casino industry. In this segment, GAN has developed a proprietary enterprise software system for internet gambling called GameSTACK. The company licenses GameSTACK to US-based casino operators. The technology is a turnkey solution suitable for regulated real-money internet gaming, which includes not only internet gambling and internet sports betting, but also social casino games, referred to as simulated gaming. This segment, which alone accounts for about 40% of total revenue [nearly $35 million for Q2 2022], continues to see significant year-over-year and quarter-over-quarter improvements. The segment grew 36.5% year-on-year and 8.3% sequentially in the second quarter of 2022. Organic growth in US real-money gaming is increasingly proving to be the real driving force of the segment. In the second quarter of 2022, the segment reported the second-best quarterly gross profit margin of 79.2% in 7 quarters. It reflected a sharp increase of 150 basis points compared to the same quarter of 2021 and an increase of a whopping 910 basis points compared to the previous quarter. The chart below shows the upward trend in quarterly gross profit margin from the B2B segment over the last 7 quarters. figures are from company's quarterly reports The B2B take rate, which roughly measures the percentage the company gets to keep for every $1 that corporate clients generate on the platform, is up both year-over-year [30 basis points] and quarter-over-quarter [to 60 basis points] to 5% in the second quarter of 2022. In terms of the B2C segment, GAN Ltd operates proprietary technology enabling online sports betting in select overseas markets while holding leading positions in Europe and South America. The B2C segment, which accounts for about 60% of GAN Ltd's total revenue [nearly $35 million], hasn't fared very well lately. Revenue for the second quarter of 2022 fell nearly 15% sequentially. However, it remained almost 2% above the corresponding quarter of the previous year. As for gross profit margin, it declined 420 basis points quarter-on-quarter and 250 basis points year-on-year to nearly 64% in Q2 2022. However, these negative trends in the B2C space should not be too much of a concern. These are influenced by seasonal factors that only have a temporary effect. Sports betting margins tend to be lower towards the end of the second quarter, which typically corresponds to the end of the sports season for many sporting events. The B2C segment was also impacted by the strength of the US dollar relative to other currencies, resulting in lower sales revenue in US dollars from overseas markets. Europe and South America together account for the entire B2C segment and more than 65% of the company's total revenue. Stronger US dollar and aggressive U.S. Federal Reserve Largely Explain Certain Downward Trends The effect of the U.S. Dollar appreciation is reflected in the stock as can be seen in the chart below which compares GAN's share price to the US Dollar Index (DXY). The DXY is a measure of the value of the US dollar against a specific basket of currencies of countries that are the main trading partners of the US. As can be seen from the chart, the stock's downward trend corresponds to an appreciation of the US dollar against other currencies in Europe and Latin America. //seekingalpha/symbol/GAN However, the stronger US dollar was the result of the US Federal Reserve's hawkish stance on interest rates. But, following the US Federal Reserve's rate hike, investors have become more aware of the risk of investing in the stock market, as the Fed's goal is to signal a recession in hopes of easing inflationary pressures. A cautious stance on the stock market amid macroeconomic and geopolitical challenges has impacted GAN Limited shares as well. But There is Something Very Positive about B2C However, some good trends have emerged in the B2C space, including the number of active customers, which is a measure of traffic on the platform, and the marketing expense ratio, which reflects how successful the company is at attracting customers. The number of active B2C customers increased from 187,000 in Q2 2021 to 230,000 in Q1 2022 and from there to 260,000 in Q2 2022.
Seeking Alpha • Aug 15

GAN GAAP EPS of -$0.91, revenue of $35M, lowers FY22 revenue guidance

GAN press release (NASDAQ:GAN): Q2 GAAP EPS of -$0.91. Revenue of $35M (+1.7% Y/Y). Lowers full year revenue expectation to $142.5 million to $152.5 million vs. $159.29M consensus, and Adjusted EBITDA expectations to be in the range of $10 million to $15 million for the full year.
Seeking Alpha • Jul 08

GAN repurchases $1M in Q2 under existing program

GAN (NASDAQ:GAN) repurchased ~303K shares under its existing share repurchase authorization for ~$1M or an average cost of $3.30/share. Approx. $4M is remaining under the current authorization, which expires Nov.30, 2022. Shares trading 3.2% higher premarket.
Seeking Alpha • Nov 23

GAN Limited Grows As Seasonal Sweet Spot Beckons

GAN Limited went public in the U.S. in May 2020, raising approximately $54 million in gross proceeds. The firm provides a suite of iGaming and sports betting software solutions to land-based casino operators in the U.S. and overseas. GAN has suffered from the negative impacts of the pandemic but has continued to expand its U.S. presence and appears well positioned as betting activities return. The company's busiest season is just ahead in Q4 and Q1 and I'm Bullish on the stock at around $10.50 per share.
Seeking Alpha • Aug 13

Smooth Runway To Unlimited Growth: GAN Limited

In 2020, Alta Fox Capital analyzed 104 stocks that returned over 350% in the last 5 years to learn what makes a multi-bagger. GAN Limited has a number of the characteristics laid out in Alta Fox Capital's report. GAN Limited's advantageous positioning and strategic use of capital should provide a smooth runway for future growth.
Analyseartikel • Jul 10

Need To Know: Analysts Are Much More Bullish On GAN Limited (NASDAQ:GAN)

Celebrations may be in order for GAN Limited ( NASDAQ:GAN ) shareholders, with the analysts delivering a significant...
Analyseartikel • May 19

GAN Limited (NASDAQ:GAN) Just Released Its First-Quarter Results And Analysts Are Updating Their Estimates

GAN Limited ( NASDAQ:GAN ) shareholders are probably feeling a little disappointed, since its shares fell 4.6% to...
Analyseartikel • May 13

Is GAN Limited (NASDAQ:GAN) Trading At A 34% Discount?

Today we will run through one way of estimating the intrinsic value of GAN Limited ( NASDAQ:GAN ) by projecting its...
Analyseartikel • Mar 12

What Type Of Shareholders Own The Most Number of GAN Limited (NASDAQ:GAN) Shares?

A look at the shareholders of GAN Limited ( NASDAQ:GAN ) can tell us which group is most powerful. Generally speaking...

Aufschlüsselung der Einnahmen und Ausgaben

Wie GAN Geld verdient und ausgibt. Basierend auf den neuesten gemeldeten Einnahmen der letzten zwölf Monate.

Gewinn- und Umsatzhistorie

NasdaqCM:GAN Einnahmen, Ausgaben und Erträge (USD Millions)
DatumEinnahmenGewinnAllgemeine und VerwaltungskostenF&E-Ausgaben
31 Mar 25134-115732
31 Dec 24135-85634
30 Sep 24134-136034
30 Jun 24127-235935
31 Mar 24125-406238
31 Dec 23129-346638
30 Sep 23136-1736740
30 Jun 23138-1726739
31 Mar 23139-1916836
31 Dec 22142-1976635
30 Sep 22135-626832
30 Jun 22135-647230
31 Mar 22135-297326
31 Dec 21124-317123
30 Sep 21103-266219
30 Jun 2181-215115
31 Mar 2155-274015
31 Dec 2035-202911
30 Sep 2037-81912
30 Jun 2032-71610
31 Mar 20281124
31 Dec 19302123
30 Sep 1923-3100
30 Jun 1922-460
31 Mar 1921-490
31 Dec 1814-8100
30 Sep 1813-7140
30 Jun 1813-6190
31 Mar 1813-6190
31 Dec 1712-5180
30 Sep 1711-5170
30 Jun 1710-4170
31 Mar 1710-5160
31 Dec 1610-5150
30 Sep 1610-6160
30 Jun 169-6160
31 Mar 169-7170
31 Dec 159-7170
30 Sep 159-7160
30 Jun 1510-7160
31 Mar 1510-5150
31 Dec 1412-4160
30 Sep 1412-5160
30 Jun 1413-6170

Qualität der Erträge: GAN ist derzeit unrentabel.

Wachsende Gewinnspanne: GAN ist derzeit unrentabel.

Analyse von freiem Cashflow und Gewinn

Analyse des Gewinnwachstums in der Vergangenheit

Ergebnisentwicklung: GAN ist unrentabel, und die Verluste haben in den letzten 5 Jahren mit einer Rate von 16.9% pro Jahr zugenommen.

Beschleunigtes Wachstum: Das Gewinnwachstum des letzten Jahres kann nicht mit dem 5-Jahres-Durchschnitt von GAN verglichen werden, da das Unternehmen derzeit nicht profitabel ist.

Erträge im Vergleich zur Industrie: GAN ist unrentabel, was einen Vergleich des Gewinnwachstums des letzten Jahres mit der Branche Hospitality (5.4%) erschwert.

Eigenkapitalrendite

Hohe Eigenkapitalrendite: GANDie Verbindlichkeiten des Unternehmens übersteigen seine Vermögenswerte, so dass es schwierig ist, seine Eigenkapitalrendite zu berechnen.

Kapitalrendite

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Unternehmensanalyse und Finanzdaten Status

DatenZuletzt aktualisiert (UTC-Zeit)
Unternehmensanalyse2025/05/28 09:27
Aktienkurs zum Tagesende2025/05/23 00:00
Gewinne2025/03/31
Jährliche Einnahmen2024/12/31

Datenquellen

Die in unserer Unternehmensanalyse verwendeten Daten stammen von S&P Global Market Intelligence LLC. Die folgenden Daten werden in unserem Analysemodell verwendet, um diesen Bericht zu erstellen. Die Daten sind normalisiert, was zu einer Verzögerung bei der Verfügbarkeit der Quelle führen kann.

PaketDatenZeitrahmenBeispiel US-Quelle *
Finanzdaten des Unternehmens10 Jahre
  • Gewinn- und Verlustrechnung
  • Kapitalflussrechnung
  • Bilanz
Konsensschätzungen der Analysten+3 Jahre
  • Finanzielle Vorausschau
  • Kursziele der Analysten
Marktpreise30 Jahre
  • Aktienkurse
  • Dividenden, Splits und Aktionen
Eigentümerschaft10 Jahre
  • Top-Aktionäre
  • Insiderhandel
Verwaltung10 Jahre
  • Das Führungsteam
  • Direktorium
Wichtige Entwicklungen10 Jahre
  • Ankündigungen des Unternehmens

* Beispiel für US-Wertpapiere, für nicht-US-amerikanische Wertpapiere werden gleichwertige regulatorische Formulare und Quellen verwendet.

Sofern nicht anders angegeben, beziehen sich alle Finanzdaten auf einen Jahreszeitraum, werden aber vierteljährlich aktualisiert. Dies wird als Trailing Twelve Month (TTM) oder Last Twelve Month (LTM) Daten bezeichnet. Erfahren Sie mehr.

Analysemodell und Schneeflocke

Einzelheiten zu dem Analysemodell, mit dem dieser Bericht erstellt wurde, finden Sie auf unserer Github-Seite. Außerdem bieten wir Leitfäden zur Verwendung unserer Berichte und Tutorials auf YouTube an.

Erfahren Sie mehr über das Weltklasse-Team, das das Simply Wall St-Analysemodell entworfen und entwickelt hat.

Metriken für Industrie und Sektor

Unsere Branchen- und Sektionskennzahlen werden alle 6 Stunden von Simply Wall St berechnet. Details zu unserem Verfahren finden Sie auf Github.

Analysten-Quellen

GAN Limited wird von 5 Analysten beobachtet. 1 dieser Analysten hat die Umsatz- oder Gewinnschätzungen übermittelt, die als Grundlage für unseren Bericht dienen. Die von den Analysten übermittelten Daten werden im Laufe des Tages aktualisiert.

AnalystEinrichtung
David BainB. Riley Securities, Inc.
Ryan SigdahlCraig-Hallum Capital Group LLC
Brian DevittGoodbody Stockbrokers