GAN Limited

NasdaqCM:GAN Voorraadrapport

Marktkapitalisatie: 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 Beheer

Beheer criteriumcontroles 4/4

De CEO GAN is Seamus McGill, benoemd in Sep2023, heeft een ambtstermijn van 1.67 jaar. De totale jaarlijkse vergoeding van { bedraagt $ 501.80K, bestaande uit 100% salaris en 0% bonussen, inclusief aandelen en opties van het bedrijf. bezit rechtstreeks 0.22% van de aandelen van het bedrijf, ter waarde $ 202.05K. De gemiddelde ambtstermijn van het managementteam en de raad van bestuur bedraagt respectievelijk 2.5 jaar en 3.9 jaar.

Belangrijke informatie

Seamus McGill

Algemeen directeur

US$501.8k

Totale compensatie

Percentage CEO-salaris100.00%
Dienstverband CEO1.7yrs
Eigendom CEO0.2%
Management gemiddelde ambtstermijn2.5yrs
Gemiddelde ambtstermijn bestuur3.9yrs

Recente managementupdates

Recent updates

Analyse-artikel • 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...
Analyse-artikel • 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...
Analyse-artikel • 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.
Analyse-artikel • 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...
Analyse-artikel • 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...
Analyse-artikel • 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...
Analyse-artikel • 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...

Analyse CEO-vergoeding

Hoe is Seamus McGill's beloning veranderd ten opzichte van GAN's winst?
DatumTotale vergoedingSalarisBedrijfswinsten
Mar 31 2025n/an/a

-US$11m

Dec 31 2024US$502kUS$502k

-US$8m

Sep 30 2024n/an/a

-US$13m

Jun 30 2024n/an/a

-US$23m

Mar 31 2024n/an/a

-US$40m

Dec 31 2023US$722kUS$114k

-US$34m

Sep 30 2023n/an/a

-US$173m

Jun 30 2023n/an/a

-US$172m

Mar 31 2023n/an/a

-US$191m

Dec 31 2022US$600kn/a

-US$197m

Sep 30 2022n/an/a

-US$62m

Jun 30 2022n/an/a

-US$64m

Mar 31 2022n/an/a

-US$29m

Dec 31 2021US$542kn/a

-US$31m

Sep 30 2021n/an/a

-US$26m

Jun 30 2021n/an/a

-US$21m

Mar 31 2021n/an/a

-US$27m

Dec 31 2020US$1mn/a

-US$20m

Sep 30 2020n/an/a

-US$8m

Jun 30 2020n/an/a

-US$7m

Mar 31 2020n/an/a

US$506k

Dec 31 2019US$231kn/a

US$2m

Sep 30 2019n/an/a

-US$3m

Jun 30 2019n/an/a

-US$4m

Mar 31 2019n/an/a

-US$4m

Dec 31 2018US$124kn/a

-US$8m

Compensatie versus markt: De totale vergoeding ($USD 501.80K ) Seamus } is ongeveer het gemiddelde voor bedrijven van vergelijkbare omvang in de US markt ($USD 621.92K ).

Compensatie versus inkomsten: De vergoeding van Seamus is het afgelopen jaar in lijn geweest met de bedrijfsprestaties.

CEO

Seamus McGill (73 yo)

1.7yrs
Tenure
US$501,800
Compensatie

Mr. Seamus M. McGill served as the President of Joingo, LLC since December 10, 2013 to October 2015. Mr. McGill served as the Chief Operating Officer of Aristocrat Americas at Aristocrat Technologies Inc....

Leiderschapsteam

NaamPositieTenureCompensatieEigendom
Seamus McGill
CEO & Director1.7yrsUS$501.80k0.22%
$ 202.0k
Brian Chang
Chief Financial Officer2.5yrsUS$483.20k0.20%
$ 180.6k
Sylvia Tiscareno
Chief Legal Officer & Corporate Secretary3.4yrsUS$587.20k0.45%
$ 409.2k
Jan Roos
Chief Technology Officer3.3yrsUS$626.50kgeen gegevens
Ervin Jarvlepp
Chief Marketing Officer2.3yrsgeen gegevensgeen gegevens
Betty Wong
Chief People Officerno datageen gegevensgeen gegevens
Robert Shore
Vice President of North America Sportsbook Sales & Operations2.4yrsgeen gegevensgeen gegevens
Giuseppe Gardali
President of B2Bno datageen gegevens0.18%
$ 162.5k
Endre Nesset
President of B2C2.8yrsgeen gegevens0.41%
$ 378.3k
Rob Lekites
Senior Vice President of Sports Betting2.3yrsgeen gegevensgeen gegevens
2.5yrs
Gemiddelde duur
42.5yo
Gemiddelde leeftijd

Ervaren management: Het managementteam van GAN wordt beschouwd als ervaren (gemiddelde ambtstermijn 2.5 jaar).

Bestuursleden

NaamPositieTenureCompensatieEigendom
Seamus McGill
CEO & Director11.1yrsUS$501.80k0.22%
$ 202.0k
David Goldberg
Independent Non-Executive Chairman of the Board6.4yrsUS$215.00k0.27%
$ 244.0k
Susan Bracey
Independent Director3.9yrsUS$77.50k0.19%
$ 173.7k
Eric Green
Independent Director2.5yrsUS$67.00k0.30%
$ 273.6k
David Ross
Independent Director1.4yrsUS$106.00kgeen gegevens
3.9yrs
Gemiddelde duur
59yo
Gemiddelde leeftijd

Ervaren bestuur: De raad van bestuur van GAN wordt beschouwd als ervaren (gemiddelde ambtstermijn 3.9 jaar).

Bedrijfsanalyse en status van financiële gegevens

GegevensLaatst bijgewerkt (UTC-tijd)
Bedrijfsanalyse2025/05/28 03:34
Aandelenkoers aan het einde van de dag2025/05/23 00:00
Inkomsten2025/03/31
Jaarlijkse inkomsten2024/12/31

Gegevensbronnen

De gegevens die gebruikt zijn in onze bedrijfsanalyse zijn afkomstig van S&P Global Market Intelligence LLC. De volgende gegevens worden gebruikt in ons analysemodel om dit rapport te genereren. De gegevens zijn genormaliseerd, waardoor er een vertraging kan optreden voordat de bron beschikbaar is.

PakketGegevensTijdframeVoorbeeld Amerikaanse bron *
Financiële gegevens bedrijf10 jaar
  • Resultatenrekening
  • Kasstroomoverzicht
  • Balans
Consensus schattingen analisten+3 jaar
  • Financiële prognoses
  • Koersdoelen analisten
Marktprijzen30 jaar
  • Aandelenprijzen
  • Dividenden, splitsingen en acties
Eigendom10 jaar
  • Top aandeelhouders
  • Handel met voorkennis
Beheer10 jaar
  • Leiderschapsteam
  • Raad van bestuur
Belangrijkste ontwikkelingen10 jaar
  • Bedrijfsaankondigingen

* Voorbeeld voor effecten uit de VS, voor niet-Amerikaanse effecten worden gelijkwaardige formulieren en bronnen gebruikt.

Tenzij anders vermeld zijn alle financiële gegevens gebaseerd op een jaarperiode, maar worden ze elk kwartaal bijgewerkt. Dit staat bekend als Trailing Twelve Month (TTM) of Last Twelve Month (LTM) gegevens. Meer informatie.

Analysemodel en Snowflake

Details van het analysemodel dat is gebruikt om dit rapport te genereren zijn beschikbaar op onze Github-pagina. We hebben ook handleidingen over hoe je onze rapporten kunt gebruiken en tutorials op YouTube.

Leer meer over het team van wereldklasse dat het Simply Wall St-analysemodel heeft ontworpen en gebouwd.

Industrie en sector

Onze industrie- en sectormetrics worden elke 6 uur berekend door Simply Wall St, details van ons proces zijn beschikbaar op Github.

Bronnen van analisten

GAN Limited wordt gevolgd door 5 analisten. 1 van deze analisten hebben de schattingen van de omzet of winst ingediend die zijn gebruikt als input voor ons rapport. Inzendingen van analisten worden de hele dag door bijgewerkt.

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