| Snowflake Score | |
|---|---|
| Valuation | 3/6 |
| Future Growth | 1/6 |
| Past Performance | 0/6 |
| Financial Health | 5/6 |
| Dividends | 0/6 |
GAN Stock Overview
GAN Limited operates as a business-to-business (B2B) supplier of enterprise software-as-a-service solutions to online casino gaming and sports betting applications in the United States, Europe, Latin America, and internationally.
GAN Competitors
Price History & Performance
| Historical stock prices | |
|---|---|
| Current Share Price | US$3.10 |
| 52 Week High | US$18.48 |
| 52 Week Low | US$2.94 |
| Beta | 1.41 |
| 1 Month Change | -22.50% |
| 3 Month Change | -52.45% |
| 1 Year Change | -81.97% |
| 3 Year Change | n/a |
| 5 Year Change | n/a |
| Change since IPO | -76.60% |
Recent News & Updates
Shareholder Returns
| GAN | US Hospitality | US Market | |
|---|---|---|---|
| 7D | -9.1% | 0.2% | 1.0% |
| 1Y | -82.0% | -27.5% | -15.1% |
Return vs Industry: GAN underperformed the US Hospitality industry which returned -29.1% over the past year.
Return vs Market: GAN underperformed the US Market which returned -13.2% over the past year.
Price Volatility
| GAN volatility | |
|---|---|
| GAN Average Weekly Movement | 10.7% |
| Hospitality Industry Average Movement | 9.2% |
| Market Average Movement | 7.8% |
| 10% most volatile stocks in US Market | 16.8% |
| 10% least volatile stocks in US Market | 2.9% |
Stable Share Price: GAN is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 11% a week.
Volatility Over Time: GAN's weekly volatility (11%) has been stable over the past year.
About the Company
| Founded | Employees | CEO | Website |
|---|---|---|---|
| 1999 | 682 | Dermot Smurfit | https://www.gan.com |
GAN Limited operates as a business-to-business (B2B) supplier of enterprise software-as-a-service solutions to online casino gaming and sports betting applications in the United States, Europe, Latin America, and internationally. The company operates in two segments, B2B and Business-to-Consumer (B2C). It offers and licenses GameSTACK, an internet gaming platform that provides turnkey technology solution for regulated real-money internet gambling, online sports betting, and virtual simulated gaming.
GAN Fundamentals Summary
| GAN fundamental statistics | |
|---|---|
| Market Cap | US$131.08m |
| Earnings (TTM) | -US$29.48m |
| Revenue (TTM) | US$134.54m |
1.0x
P/S Ratio-4.4x
P/E RatioIs GAN overvalued?
See Fair Value and valuation analysisEarnings & Revenue
| GAN income statement (TTM) | |
|---|---|
| Revenue | US$134.54m |
| Cost of Revenue | US$44.35m |
| Gross Profit | US$90.19m |
| Other Expenses | US$119.67m |
| Earnings | -US$29.48m |
Last Reported Earnings
Mar 31, 2022
Next Earnings Date
n/a
| Earnings per share (EPS) | -0.70 |
| Gross Margin | 67.03% |
| Net Profit Margin | -21.91% |
| Debt/Equity Ratio | 0% |
How did GAN perform over the long term?
See historical performance and comparisonValuation
Is GAN undervalued compared to its fair value and its price relative to the market?
Valuation Score
3/6Valuation Score 3/6
Below Fair Value
Significantly Below Fair Value
PE vs Industry
PE vs Market
PEG Ratio
PB vs Industry
>50%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: GAN ($3.1) is trading below our estimate of fair value ($25.36)
Significantly Below Fair Value: GAN is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: GAN is unprofitable, so we can't compare its Price-To-Earnings Ratio to the US Hospitality industry average.
PE vs Market: GAN is unprofitable, so we can't compare its Price-To-Earnings Ratio to the US market.
Price to Earnings Growth Ratio
PEG Ratio: Insufficient data to calculate GAN's PEG Ratio to determine if it is good value.
Price to Book Ratio
PB vs Industry: GAN is good value based on its Price-To-Book Ratio (0.6x) compared to the US Hospitality industry average (2.4x).
Future Growth
How is GAN forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?
Future Growth Score
1/6Future Growth Score 1/6
Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE
88.2%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: GAN is forecast to remain unprofitable over the next 3 years.
Earnings vs Market: GAN is forecast to remain unprofitable over the next 3 years.
High Growth Earnings: GAN is forecast to remain unprofitable over the next 3 years.
Revenue vs Market: GAN's revenue (19% per year) is forecast to grow faster than the US market (7.7% per year).
High Growth Revenue: GAN's revenue (19% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: GAN's Return on Equity is forecast to be low in 3 years time (0.3%).
Past Performance
How has GAN performed over the past 5 years?
Past Performance Score
0/6Past Performance Score 0/6
Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE
-46.4%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: GAN is currently unprofitable.
Growing Profit Margin: GAN is currently unprofitable.
Past Earnings Growth Analysis
Earnings Trend: GAN is unprofitable, and losses have increased over the past 5 years at a rate of 46.4% per year.
Accelerating Growth: Unable to compare GAN's earnings growth over the past year to its 5-year average as it is currently unprofitable
Earnings vs Industry: GAN is unprofitable, making it difficult to compare its past year earnings growth to the Hospitality industry (157.9%).
Return on Equity
High ROE: GAN has a negative Return on Equity (-13.58%), as it is currently unprofitable.
Financial Health
How is GAN's financial position?
Financial Health Score
5/6Financial Health Score 5/6
Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Stable Cash Runway
Forecast Cash Runway
Financial Position Analysis
Short Term Liabilities: GAN's short term assets ($49.2M) exceed its short term liabilities ($30.0M).
Long Term Liabilities: GAN's short term assets ($49.2M) exceed its long term liabilities ($3.6M).
Debt to Equity History and Analysis
Debt Level: GAN is debt free.
Reducing Debt: GAN has no debt compared to 5 years ago when its debt to equity ratio was 22.6%.
Balance Sheet
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.
Stable Cash Runway: GAN has sufficient cash runway for more than a year based on its current free cash flow.
Forecast Cash Runway: Insufficient data to determine if GAN has enough cash runway if its free cash flow continues to grow or shrink based on historical rates.
Dividend
What is GAN current dividend yield, its reliability and sustainability?
Dividend Score
0/6Dividend Score 0/6
Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Future Dividend Coverage
Dividend Yield vs Market
Notable Dividend: Unable to evaluate GAN's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.
High Dividend: Unable to evaluate GAN's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.
Stability and Growth of Payments
Stable Dividend: Insufficient data to determine if GAN's dividends per share have been stable in the past.
Growing Dividend: Insufficient data to determine if GAN's dividend payments have been increasing.
Earnings Payout to Shareholders
Earnings Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.
Cash Payout to Shareholders
Cash Flow Coverage: Unable to calculate sustainability of dividends as GAN has not reported any payouts.
Discover strong dividend paying companies
Management
How experienced are the management team and are they aligned to shareholders interests?
1.4yrs
Average management tenure
CEO
Dermot Smurfit (46 yo)
12.33yrs
Tenure
US$3,868,800
Compensation
Mr. Dermot Stopford Smurfit, Jr. has been the Chief Executive Officer at GAN Limited since 2010 and serves as its President and Executive Director. Previously, he served as a Director of GAN Limited since...
CEO Compensation Analysis
Compensation vs Market: Dermot's total compensation ($USD3.87M) is above average for companies of similar size in the US market ($USD772.05K).
Compensation vs Earnings: Dermot's compensation has been consistent with company performance over the past year.
Leadership Team
Experienced Management: GAN's management team is not considered experienced ( 1.4 years average tenure), which suggests a new team.
Board Members
Experienced Board: GAN's board of directors are considered experienced (5.8 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: GAN insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
Company Information
GAN Limited's employee growth, exchange listings and data sources
Key Information
- Name: GAN Limited
- Ticker: GAN
- Exchange: NasdaqCM
- Founded: 1999
- Industry: Casinos and Gaming
- Sector: Consumer Services
- Implied Market Cap: US$131.078m
- Shares outstanding: 42.28m
- Website: https://www.gan.com
Number of Employees
Location
- GAN Limited
- 400 Spectrum Center Drive
- Suite 1900
- Irvine
- California
- 92618
- United States
Listings
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2022/05/25 00:00 |
| End of Day Share Price | 2022/05/25 00:00 |
| Earnings | 2022/03/31 |
| Annual Earnings | 2021/12/31 |
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.