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GAN

AIM:GAN
Snowflake Description

High growth potential with excellent balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
GAN
AIM
£48M
Market Cap
  1. Home
  2. GB
  3. Consumer Services
Company description

GAN plc provides enterprise online gaming software, operational support services, and online game content development services to the casino industry. The last earnings update was 28 days ago. More info.


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GAN Share Price and Events
7 Day Returns
-0.9%
AIM:GAN
2.6%
GB Hospitality
1.5%
GB Market
1 Year Returns
-20.6%
AIM:GAN
-9.1%
GB Hospitality
-6.3%
GB Market
GAN Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
GAN (GAN) -0.9% 5.7% 8.7% -20.6% 72.3% -49.3%
GB Hospitality 2.6% -0.3% -2.5% -9.1% 9.8% 29.5%
GB Market 1.5% -2.1% 1.8% -6.3% 15.4% 2%
1 Year Return vs Industry and Market
  • GAN underperformed the Hospitality industry which returned -9.1% over the past year.
  • GAN underperformed the Market in United Kingdom of Great Britain and Northern Ireland which returned -6.3% over the past year.
Price Volatility
GAN
Industry
5yr Volatility vs Market

Value

 Is GAN undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
  • It is not possible to calculate the future cash flow value for GAN. This is due to cash flow or dividend data being unavailable. The share price is £0.56.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for GAN's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are GAN's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
AIM:GAN PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in GBP £-0.08
AIM:GAN Share Price ** AIM (2019-05-21) in GBP £0.56
United Kingdom of Great Britain and Northern Ireland Hospitality Industry PE Ratio Median Figure of 34 Publicly-Listed Hospitality Companies 17.83x
United Kingdom of Great Britain and Northern Ireland Market PE Ratio Median Figure of 789 Publicly-Listed Companies 16.22x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of GAN.

AIM:GAN PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= AIM:GAN Share Price ÷ EPS (both in GBP)

= 0.56 ÷ -0.08

-7.3x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • GAN is loss making, we can't compare its value to the GB Hospitality industry average.
  • GAN is loss making, we can't compare the value of its earnings to the United Kingdom of Great Britain and Northern Ireland market.
Price based on expected Growth
Does GAN's expected growth come at a high price?
Raw Data
AIM:GAN PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -7.3x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts
Not available
United Kingdom of Great Britain and Northern Ireland Hospitality Industry PEG Ratio Median Figure of 28 Publicly-Listed Hospitality Companies 2.02x
United Kingdom of Great Britain and Northern Ireland Market PEG Ratio Median Figure of 575 Publicly-Listed Companies 1.5x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for GAN, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on GAN's assets?
Raw Data
AIM:GAN PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in GBP £0.11
AIM:GAN Share Price * AIM (2019-05-21) in GBP £0.56
United Kingdom of Great Britain and Northern Ireland Hospitality Industry PB Ratio Median Figure of 54 Publicly-Listed Hospitality Companies 1.4x
United Kingdom of Great Britain and Northern Ireland Market PB Ratio Median Figure of 1,368 Publicly-Listed Companies 1.5x
AIM:GAN PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= AIM:GAN Share Price ÷ Book Value per Share (both in GBP)

= 0.56 ÷ 0.11

5.1x

* Primary Listing of GAN.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • GAN is overvalued based on assets compared to the GB Hospitality industry average.
X
Value checks
We assess GAN's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Hospitality industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Hospitality industry average (and greater than 0)? (1 check)
  5. GAN has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is GAN expected to perform in the next 1 to 3 years based on estimates from 1 analyst?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
138.7%
Expected annual growth in earnings per share.
Earnings growth vs Low Risk Savings
Is GAN expected to grow at an attractive rate?
  • GAN's earnings growth is expected to exceed the low risk savings rate of 1.2%.
Growth vs Market Checks
  • GAN's earnings growth is expected to exceed the United Kingdom of Great Britain and Northern Ireland market average.
  • GAN's revenue growth is expected to exceed the United Kingdom of Great Britain and Northern Ireland market average.
Annual Growth Rates Comparison
Raw Data
AIM:GAN Future Growth Rates Data Sources
Data Point Source Value (per year)
AIM:GAN Future Earnings per Share Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 1 Analysts 138.7%
AIM:GAN Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 1 Analysts 37.3%
United Kingdom of Great Britain and Northern Ireland Hospitality Industry Earnings Growth Rate Market Cap Weighted Average 12.1%
United Kingdom of Great Britain and Northern Ireland Hospitality Industry Revenue Growth Rate Market Cap Weighted Average 5.8%
United Kingdom of Great Britain and Northern Ireland Market Earnings Growth Rate Market Cap Weighted Average 11%
United Kingdom of Great Britain and Northern Ireland Market Revenue Growth Rate Market Cap Weighted Average 5%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
AIM:GAN Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
All numbers in GBP Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
AIM:GAN Future Estimates Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-12-31 23 1
2019-12-31 17 1
AIM:GAN Past Financials Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income *
2018-12-31 11 2 -6
2018-09-30 10 1 -5
2018-06-30 10 0 -4
2018-03-31 9 0 -4
2017-12-31 9 1 -3
2017-09-30 9 0 -3
2017-06-30 8 0 -3
2017-03-31 8 0 -4
2016-12-31 8 -1 -4
2016-09-30 7 -2 -4
2016-06-30 7 -2 -5
2016-03-31 7 -2 -5

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • GAN's earnings are expected to grow significantly at over 20% yearly.
  • GAN's revenue is expected to grow significantly at over 20% yearly.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
AIM:GAN Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below

All data from GAN Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

AIM:GAN Future Estimates Data
Date (Data in GBP Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-12-31 0.03 0.03 0.03 1.00
2019-12-31 -0.01 -0.01 -0.01 1.00
AIM:GAN Past Financials Data
Date (Data in GBP Millions) EPS *
2018-12-31 -0.08
2018-09-30 -0.07
2018-06-30 -0.06
2018-03-31 -0.06
2017-12-31 -0.05
2017-09-30 -0.05
2017-06-30 -0.05
2017-03-31 -0.05
2016-12-31 -0.06
2016-09-30 -0.07
2016-06-30 -0.08
2016-03-31 -0.09

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if GAN will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess GAN's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United Kingdom of Great Britain and Northern Ireland market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United Kingdom of Great Britain and Northern Ireland market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
GAN has a total score of 5/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has GAN performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare GAN's growth in the last year to its industry (Hospitality).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • GAN does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare GAN's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare GAN's 1-year growth to the GB Hospitality industry average as it is not currently profitable.
Earnings and Revenue History
GAN's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from GAN Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

AIM:GAN Past Revenue, Cash Flow and Net Income Data
Date (Data in GBP Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 10.57 -6.03 16.94
2018-09-30 10.07 -5.20 15.54
2018-06-30 9.58 -4.38 14.13
2018-03-31 9.35 -3.93 13.57
2017-12-31 9.12 -3.48 13.01
2017-09-30 8.58 -3.46 12.88
2017-06-30 8.03 -3.44 12.74
2017-03-31 7.92 -3.60 12.61
2016-12-31 7.80 -3.76 12.47
2016-09-30 7.42 -4.27 12.26
2016-06-30 7.03 -4.78 12.04
2016-03-31 6.52 -4.90 11.66
2015-12-31 6.01 -5.02 11.28
2015-09-30 6.13 -4.64 10.88
2015-06-30 6.25 -4.26 10.49
2015-03-31 6.89 -3.43 10.31
2014-12-31 7.53 -2.60 10.13
2014-09-30 7.43 -3.16 10.02
2014-06-30 7.32 -3.73 9.92
2014-03-31 9.79 -1.31 9.46
2013-12-31 12.26 1.11 9.01
2012-12-31 5.50 0.13 6.11

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if GAN has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if GAN has efficiently used its assets last year compared to the GB Hospitality industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if GAN improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess GAN's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Hospitality industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
GAN has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is GAN's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up GAN's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • GAN is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • GAN's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of GAN's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 10.7x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from GAN Company Filings, last reported 4 months ago.

AIM:GAN Past Debt and Equity Data
Date (Data in GBP Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 9.36 1.02 5.55
2018-09-30 9.36 1.02 5.55
2018-06-30 12.31 0.00 5.09
2018-03-31 12.31 0.00 5.09
2017-12-31 7.58 2.21 2.75
2017-09-30 7.58 2.21 2.75
2017-06-30 8.98 2.03 3.32
2017-03-31 8.98 2.03 3.32
2016-12-31 10.94 0.00 3.18
2016-09-30 10.94 0.00 3.18
2016-06-30 10.53 0.00 3.97
2016-03-31 10.53 0.00 3.97
2015-12-31 10.18 0.00 3.78
2015-09-30 10.18 0.00 3.78
2015-06-30 12.63 0.00 7.62
2015-03-31 12.63 0.00 7.62
2014-12-31 15.18 0.00 10.78
2014-09-30 15.18 0.00 10.78
2014-06-30 16.86 0.00 14.03
2014-03-31 16.86 0.00 14.03
2013-12-31 17.69 0.00 16.90
2012-12-31 1.88 0.00 1.67
  • GAN's level of debt (10.9%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (0% vs 10.9% today).
CASH RUNWAY ANALYSIS

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

  • GAN has sufficient cash runway for more than 3 years based on current free cash flow.
  • GAN has sufficient cash runway for more than 3 years if free cash flow continues to reduce at historical rates of -40.8% each year.
X
Financial health checks
We assess GAN's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. GAN has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is GAN's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from GAN dividends. Estimated to be 0% next year.
If you bought £2,000 of GAN shares you are expected to receive £0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate GAN's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate GAN's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
AIM:GAN Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
United Kingdom of Great Britain and Northern Ireland Hospitality Industry Average Dividend Yield Market Cap Weighted Average of 32 Stocks 3.2%
United Kingdom of Great Britain and Northern Ireland Market Average Dividend Yield Market Cap Weighted Average of 705 Stocks 4.3%
United Kingdom of Great Britain and Northern Ireland Minimum Threshold Dividend Yield 10th Percentile 1%
United Kingdom of Great Britain and Northern Ireland Bottom 25% Dividend Yield 25th Percentile 2%
United Kingdom of Great Britain and Northern Ireland Top 25% Dividend Yield 75th Percentile 5.3%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

AIM:GAN Future Dividends Estimate Data
Date (Data in £) Dividend per Share (annual) Avg. No. Analysts
2020-12-31 0.00 1.00
2019-12-31 0.00 1.00

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as GAN has not reported any payouts.
  • Unable to verify if GAN's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of GAN's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as GAN has not reported any payouts.
Future Payout to shareholders
  • No need to calculate the sustainability of GAN's dividends in 3 years as they are not expected to pay a notable one for United Kingdom of Great Britain and Northern Ireland.
X
Income/ dividend checks
We assess GAN's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can GAN afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. GAN has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of GAN's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Dermot Smurfit
COMPENSATION £525,000
AGE 43
CEO Bio

Mr. Dermot Stopford Smurfit, Jr. serves as the Chief Executive Officer at GameAccount Network plc (formerly, GameAccount Global Limited). Mr. Smurfit joined GameAccount Network in 2002. He worked in the European Investment Banking team of SoundView Technology Group. He has operational and management experience in online gaming through his experience with GameAccount Network, together with M&A, strategic advisory and private equity financing experience in the gaming technology industry. He served as the Chief Operating Officer and Sales & Marketing Director of GameAccount Network plc. He worked in investment banking with Wit Capital LLC. He served as Non-Executive Director of Powerflute Oyj from April 29, 2010 to February 1, 2016. He serves as a Director at GameAccount Network plc. He is a qualified (non-practising) UK lawyer specialised in corporate finance. Mr. Smurfit's education encompasses an LLB in Law from Exeter University, the Legal Practice Course from the College of Law (UK) and the Investment & Corporate Finance Advisory qualification from the UK's Financial Conduct Authority.

CEO Compensation
  • Dermot's compensation has increased whilst company is loss making.
  • Dermot's remuneration is higher than average for companies of similar size in United Kingdom of Great Britain and Northern Ireland.
Management Team Tenure

Average tenure and age of the GAN management team in years:

1.1
Average Tenure
43.5
Average Age
  • The average tenure for the GAN management team is less than 2 years, this suggests a new team.
Management Team

Dermot Smurfit

TITLE
CEO & Director
COMPENSATION
£525K
AGE
43

Richard Santiago

TITLE
CFO, Secretary & Director
COMPENSATION
£331K
AGE
44
TENURE
0.9 yrs

Simon Knock

TITLE
Chief Information Officer
AGE
39

Jameson Wang

TITLE
Vice President of Analytics & Investor Relations
TENURE
0.3 yrs

Martin Smith

TITLE
Chief Games Officer
AGE
51
TENURE
7.3 yrs

Karen Ashcroft

TITLE
Head of Finance

Meir Deutsch

TITLE
Managing Director of Digital
TENURE
1.1 yrs

Jeff Berman

TITLE
Chief Commercial Officer
TENURE
1.3 yrs
Board of Directors Tenure

Average tenure and age of the GAN board of directors in years:

2.2
Average Tenure
50
Average Age
  • The average tenure for the GAN board of directors is less than 3 years, this suggests a new board.
Board of Directors

Seamus McGill

TITLE
Non-Executive Chairman
COMPENSATION
£97K
AGE
67
TENURE
2.2 yrs

Dermot Smurfit

TITLE
CEO & Director
COMPENSATION
£525K
AGE
43

Richard Santiago

TITLE
CFO, Secretary & Director
COMPENSATION
£331K
AGE
44

Michael W. Smurfit

TITLE
Non Executive Director
COMPENSATION
£34K
AGE
53
TENURE
10.9 yrs

David Goldberg

TITLE
Non-Executive Director
COMPENSATION
£3K
AGE
50
TENURE
0.4 yrs
Who owns this company?
Recent Insider Trading
  • GAN insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (£) Value (£)
23. Apr 19 Buy AEB Capital, LLC Company 16. Apr 19 16. Apr 19 2,500,000 £0.59 £1,337,001
18. Apr 19 Buy Palm Management (US) LLC Company 17. Apr 19 17. Apr 19 450,000 £0.50 £225,000
10. Apr 19 Sell Nick Furlong Individual 10. Apr 19 10. Apr 19 -145,000 £0.49 £-70,615
X
Management checks
We assess GAN's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. GAN has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Read This Before Buying GAN plc (LON:GAN) Shares

So we'll take a look at whether insiders have been buying or selling shares in GAN plc (LON:GAN). … But logic dictates you should pay some attention to whether insiders are buying or selling shares. … That means that an insider was selling shares at slightly below the current price (UK£0.54).

Simply Wall St -

Is GAN plc's (LON:GAN) CEO Pay Fair?

This analysis aims first to contrast CEO compensation with other companies that have similar market capitalization. … How Does Dermot Smurfit's Compensation Compare With Similar Sized Companies. … According to our data, GAN plc has a market capitalization of UK£41m, and pays its CEO total annual compensation worth UK£377k.

Simply Wall St -

How Financially Strong Is GAN plc (LON:GAN)?

The direct benefit for GAN plc (LON:GAN), which sports a zero-debt capital structure, to include debt in its capital structure is the reduced cost of capital. … Is GAN growing fast enough to value financial flexibility over lower cost of capital … Debt capital generally has lower cost of capital compared to equity funding.

Simply Wall St -

Who Are GAN plc's (LON:GAN) Major Shareholders?

In this article, I'm going to take a look at GAN plc’s (LON:GAN) latest ownership structure, a non-fundamental factor which is important, but remains a less discussed subject among investors. … The impact of a company's ownership structure affects both its short- and long-term performance. … If an activist institution invests the same amount of capital in a stock as a passive long-term pension fund, the implications are potentially different for key corporate financing decisions such as the use of excess cash or the source of financing.

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GAN plc (LON:GAN): Time For A Financial Health Check

GAN plc (LON:GAN) is a small-cap stock with a market capitalization of UK£48.48m. … While investors primarily focus on the growth potential and competitive landscape of the small-cap companies, they end up ignoring a key aspect, which could be the biggest threat to its existence: its financial health.

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What You Must Know About GAN plc's (LON:GAN) Financial Strength

How does GAN’s operating cash flow stack up against its debt? … Moreover, GAN has generated UK£865.00K in operating cash flow in the last twelve months, resulting in an operating cash to total debt ratio of 39.10%, meaning that GAN’s debt is appropriately covered by operating cash. … GAN's risk around capital structure is low, and the company has the headroom and ability to raise debt should it need to in the future.Next Steps: GAN’s high cash coverage and appropriate debt levels indicate its ability to utilise its borrowings efficiently in order to generate ample cash flow.

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How Did GAN plc's (LON:GAN) Earnings Growth Stack Up Against The Industry?

When GAN plc (AIM:GAN) released its most recent earnings update (31 December 2017), I wanted to understand how these figures stacked up against its past performance. … The two benchmarks I used were GAN's average earnings over the past couple of years, and its industry performance. … AIM:GAN Income Statement May 11th 18 We can further assess GAN's loss by looking at what the industry has been experiencing over the past few years.

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Is GAN plc (LON:GAN) Undervalued?

Buying a great company with a robust outlook at a cheap price is always a good investment, so let’s also take a look at the company's future expectations. … It seems like the market has already priced in GAN’s positive outlook, with shares trading around its fair value. … Will you have enough confidence to invest in the company should the price drop below its fair value?

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GAN plc (LON:GAN) And The Consumer Sector Outlook 2018

This rate is larger than the growth rate of the UK stock market as a whole. … In the past year, the industry delivered growth of 9.95%, though still underperforming the wider UK stock market. … If GAN has been on your watchlist for a while, now may be the time to enter into the stock, if you like its growth prospects and are not highly concentrated in the leisure industry.

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How Does GAN plc (LON:GAN) Affect Your Portfolio Returns?

A popular measure of market risk for a stock is its beta, and the market as a whole represents a beta value of one. … GAN’s beta indicates it is a stock that investors may find valuable if they want to reduce the overall market risk exposure of their stock portfolio. … GAN, with its market capitalisation of £20.67M, is a small-cap stock, which generally have higher beta than similar companies of larger size.

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Company Info

Description

GAN plc provides enterprise online gaming software, operational support services, and online game content development services to the casino industry. The company operates through Real Money Gaming Operations (RMG), and Simulated Gaming Operations (SIMGAM) segments. It licenses GameSTACK, an Internet gaming system to online and land-based gaming operators for regulated real-money and simulated gaming online. The company also offers person-to-person skill based gaming software; and software development services. It offers its products and services in the United Kingdom, the Channel Islands, Italy, the United States, Australia, and rest of the world. GAN plc has a strategic relationship with SBTECH to serve real money sports betting to U.S. casino operators. The company was incorporated in 1999 and is headquartered in London, the United Kingdom.

Details
Name: GAN plc
GAN
Exchange: AIM
Founded: 1999
£47,717,711
85,210,199
Website: http://www.gan.com
Address: GAN plc
125 Kensington High Street,
London,
Greater London, W8 5SF,
United Kingdom
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
AIM GAN Ordinary Shares London Stock Exchange AIM Market GB GBP 25. Nov 2013
OTCPK GMMN.F Ordinary Shares Pink Sheets LLC US USD 25. Nov 2013
ISE GAME Ordinary Shares Irish Stock Exchange IE EUR 25. Nov 2013
Number of employees
Current staff
Staff numbers
118
GAN employees.
Industry
Casinos and Gaming
Consumer Services
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/21 22:09
End of day share price update: 2019/05/21 00:00
Last estimates confirmation: 2019/03/29
Last earnings filing: 2019/04/23
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.