Gan Ltd - Understand $gan stock

$GAN Market Cap: $83.85 Million

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Financial Snapshot

Revenue

$134.0M

TTM

Gross Margin

70.52%

TTM

Net Earnings

-$13.15M

TTM

Current Assets

$55.48M

Q3 2024

Current Liabilities

$31.88M

Q3 2024

Current Ratio

174.03%

Q3 2024

Total Assets

$82.63M

Q3 2024

Total Liabilities

$88.38M

Q3 2024

Book Value

-$5.754M

Q3 2024

Cash

$36.48M

Q3 2024

P/E

-6.375

Nov 29, 2024 EST

Free Cash Flow

-$3.423M

TTM

Revenues

Revenue YoY Change

Revenues

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010
Revenue	$129.4M	$141.5M	$124.2M	$35.16M	$29.97M	$14.02M	$11.74M	$10.53M	$9.180M	$12.39M	$19.17M	$8.710M	$7.330M	$7.700M
YoY Change	-8.56%	13.99%	253.14%	17.32%	113.77%	19.42%	11.49%	14.71%	-25.91%	-35.37%	120.09%	18.83%	-4.81%

Expenses

Cost Of Revenues

Gross Profit

Gross Profit Margin

Gross Profit

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010
Revenue	$129.4M	$141.5M	$124.2M	$35.16M	$29.97M	$14.02M	$11.74M	$10.53M	$9.180M	$12.39M	$19.17M	$8.710M	$7.330M	$7.700M
Cost Of Revenue	$38.70M	$41.63M	$41.37M	$10.47M	$7.100M	$11.89M
Gross Profit	$90.72M	$99.89M	$82.79M	$24.69M	$22.87M	$2.130M
Gross Profit Margin	70.1%	70.58%	66.68%	70.22%	76.31%	15.19%

Selling, General & Admin Expense

Research & Development

Depreciation, Depletion & Amortization

SGA Expense to Gross Profit Ratio

R&D To Gross Profit Ratio

DDA To Gross Profit Ratio

Operating Expenses Total

Operating Profits/Loss

Operational Expenses

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010
Selling, General & Admin	$65.63M	$75.00M	$71.15M	$29.87M	$11.92M	$10.23M	$17.41M	$17.58M	$17.77M	$16.79M	$16.74M	$10.20M	$8.380M	$8.260M
YoY Change	-12.5%	5.42%	138.19%	150.59%	16.52%	-41.24%	-0.97%	-1.07%	5.84%	0.3%	64.12%	21.72%	1.45%
% of Gross Profit	72.34%	75.08%	85.94%	120.98%	52.12%	480.28%
Research & Development	$38.24M	$26.35M	$22.55M	$11.03M	$3.410M
YoY Change	45.16%	16.84%	104.42%	223.46%
% of Gross Profit	42.16%	26.37%	27.24%	44.67%	14.91%
Depreciation & Amortization	$1.648M	$23.28M	$16.81M	$3.220M	$4.310M	$6.190M	$5.450M	$4.830M	$3.420M	$1.870M	$1.250M	$1.130M	$820.0K	$470.0K
YoY Change	-92.92%	38.47%	422.02%	-25.29%	-30.37%	13.58%	12.84%	41.23%	82.89%	49.6%	10.62%	37.8%	74.47%
% of Gross Profit	1.82%	23.3%	20.3%	13.04%	18.85%	290.61%
Operating Expenses	$65.63M	$124.6M	$110.5M	$44.16M	$19.65M	$10.23M	$17.41M	$17.58M	$17.77M	$16.79M	$16.74M	$10.20M	$8.380M	$8.260M
YoY Change	-47.34%	12.78%	150.23%	124.73%	92.08%	-41.24%	-0.97%	-1.07%	5.84%	0.3%	64.12%	21.72%	1.45%
Operating Profit	-$30.31M	-$24.73M	-$27.71M	-$19.47M	$3.220M	-$8.100M
YoY Change	22.59%	-10.77%	42.34%	-704.66%	-139.75%

Interest Expenses

Interest Expenses To Operating Income %

Other Expense/Income

Interest & Other Expense/Income

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010
Interest Expense			$2.000K	$395.0K	-$10.00K	-$440.0K	-$150.0K	$30.00K	$30.00K	$110.0K	$20.00K	-$30.00K	-$40.00K	$0.00
YoY Change			-99.49%	-4050.0%	-97.73%	193.33%	-600.0%	0.0%	-72.73%	450.0%	-166.67%	-25.0%
% of Operating Profit					-0.31%
Other Income/Expense, Net	-$3.992M	-$1.047M	$378.0K
YoY Change	281.28%	-376.98%

Income/Loss

Pretax Income

Income Tax

Net Profits/Loss

Pretax Income YoY Change

Income Tax Rate

Net Profits/Loss YoY Change

Basic EPS

Net Income To Revenue Ratio

Pretax & Net Income

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010
Pretax Income	-$34.31M	-$193.6M	-$30.81M	-$19.86M	$2.580M	-$8.640M	-$5.430M	-$7.020M	-$8.560M	-$4.280M	$2.450M	-$1.520M	-$1.090M	-$570.0K
YoY Change	-82.28%	528.33%	55.11%	-869.77%	-129.86%	59.12%	-22.65%	-17.99%	100.0%	-274.69%	-261.18%	39.45%	91.23%
Income Tax	$138.0K	$3.942M	-$211.0K	$350.0K	$570.0K	-$930.0K	-$950.0K	-$1.940M	-$890.0K	$0.00	$720.0K	-$1.720M	$0.00	$0.00
% Of Pretax Income					22.09%						29.39%
Net Earnings	-$34.40M	-$197.5M	-$30.59M	-$20.22M	$2.000M	-$7.700M	-$4.480M	-$5.070M	-$7.670M	-$4.280M	$1.730M	$210.0K	-$1.090M	-$570.0K
YoY Change	-82.58%	545.54%	51.31%	-1111.0%	-125.97%	71.88%	-11.64%	-33.9%	79.21%	-347.4%	723.81%	-119.27%	91.23%
Net Earnings / Revenue	-26.58%	-139.55%	-24.64%	-57.51%	6.67%	-54.92%	-38.16%	-48.15%	-83.55%	-34.54%	9.02%	2.41%	-14.87%	-7.4%
Basic Earnings Per Share	-$0.78	-$4.66	-$0.73
Diluted Earnings Per Share	-$0.78	-$4.66	-$728.0K	-$748.6K	$85.40K	-$391.9K	-$255.9K	-$78.42K	-$137.2K	-$76.62K	$37.63K	$4.843K	-$25.09K	-$13.12K

Assets & Liabilities

Cash & Short-Term Investments

Cash & Equivalents

Cash To Operating Expenses Ratio

Inventory

Receivables

Total Short-Term Assets

Property, Plant And Equipment

Long-Term Investments

Total Long-Term Assets

Total Assets

Net Income To Total Assets Percentage

Accounts Payable

Short-Term Debt

Long Term Debt Due

Total Short-Term Liabilities

Long-Term Debt

Other Long-Term Liabilities

Total Long-Term Liabilities

Total Liabilities

Short-Term To Long-Term Debt Ratio

Short-Term Assets To Debt Ratio

Long-Term Debt To Net Income Ratio

Assets & Liabilities

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010
Cash & Short-Term Investments	$38.58M	$45.92M	$39.48M	$152.7M	$10.30M	$7.000M	$3.700M	$3.900M	$5.600M	$16.80M	$28.00M	$2.700M	$1.700M	$600.0K
YoY Change	-15.99%	16.32%	-74.15%	1382.52%	47.14%	89.19%	-5.13%	-30.36%	-66.67%	-40.0%	937.04%	58.82%	183.33%
Cash & Equivalents	$38.58M	$45.92M	$39.48M	$152.7M	$10.30M			$3.900M	$5.600M	$16.80M	$28.00M
Short-Term Investments
Other Short-Term Assets	$6.546M	$7.902M	$6.835M	$2.800M	$1.800M	$500.0K	$1.400M		$0.00	$1.000M	$2.100M	$300.0K	$300.0K	$200.0K
YoY Change	-17.16%	15.61%	144.11%	55.56%	260.0%	-64.29%			-100.0%	-52.38%	600.0%	0.0%	50.0%
Inventory						$700.0K	$0.00
Prepaid Expenses
Receivables	$11.42M	$13.81M	$8.110M	$8.100M	$5.600M	$4.400M	$2.500M	$3.500M	$4.200M	$2.300M	$1.800M	$1.400M	$900.0K	$1.500M
Other Receivables	$0.00	$0.00	$0.00	$0.00	$1.100M	$1.300M	$1.400M	$1.300M	$0.00	$1.100M	$600.0K	$600.0K	$400.0K	$300.0K
Total Short-Term Assets	$56.54M	$67.63M	$54.42M	$163.5M	$18.80M	$13.80M	$8.900M	$8.700M	$9.800M	$21.20M	$32.50M	$5.100M	$3.300M	$2.600M
YoY Change	-16.4%	24.27%	-66.71%	769.68%	36.23%	55.06%	2.3%	-11.22%	-53.77%	-34.77%	537.25%	54.55%	26.92%
Property, Plant & Equipment	$8.499M	$2.850M	$3.349M	$2.100M	$1.600M	$1.900M	$500.0K	$600.0K	$1.300M	$1.300M	$1.000M	$700.0K	$700.0K	$600.0K
YoY Change	198.21%	-14.9%	59.48%	31.25%	-15.79%	280.0%	-16.67%	-53.85%	0.0%	30.0%	42.86%	0.0%	16.67%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets	$1.736M	$896.0K	$6.674M	$500.0K	$700.0K	$200.0K	$0.00	$200.0K	$1.000M	$800.0K	$800.0K	$1.600M	$0.00	$0.00
YoY Change	93.75%	-86.57%	1234.8%	-28.57%	250.0%		-100.0%	-80.0%	25.0%	0.0%	-50.0%
Total Long-Term Assets	$30.96M	$35.45M	$206.5M	$9.700M	$7.400M	$8.800M	$8.500M	$8.800M	$10.50M	$6.700M	$3.300M	$3.400M	$1.900M	$1.500M
YoY Change	-12.66%	-82.83%	2028.74%	31.08%	-15.91%	3.53%	-3.41%	-16.19%	56.72%	103.03%	-2.94%	78.95%	26.67%
Total Assets	$87.50M	$103.1M	$260.9M	$173.2M	$26.20M	$22.60M	$17.40M	$17.50M	$20.30M	$27.90M	$35.80M	$8.500M	$5.200M	$4.100M
YoY Change
Accounts Payable	$6.971M	$6.437M	$5.268M	$4.700M	$2.600M	$2.000M	$2.500M	$3.700M	$4.800M	$2.000M	$2.600M	$800.0K	$300.0K	$200.0K
YoY Change	8.3%	22.19%	12.09%	80.77%	30.0%	-20.0%	-32.43%	-22.92%	140.0%	-23.08%	225.0%	166.67%	50.0%
Accrued Expenses	$12.68M	$10.96M	$15.86M	$8.800M	$3.400M	$4.000M	$1.200M			$1.700M	$3.300M	$3.700M	$1.200M	$600.0K
YoY Change	15.62%	-30.86%	80.19%	158.82%	-15.0%	233.33%				-48.48%	-10.81%	208.33%	100.0%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
YoY Change
Long-Term Debt Due			$0.00	$100.0K	$200.0K	$700.0K	$0.00					$0.00	$200.0K	$100.0K
YoY Change			-100.0%	-50.0%	-71.43%							-100.0%	100.0%
Total Short-Term Liabilities	$36.72M	$32.53M	$33.03M	$17.30M	$10.30M	$9.700M	$4.100M	$3.700M	$4.800M	$4.300M	$6.500M	$5.400M	$2.400M	$1.700M
YoY Change	12.89%	-1.52%	90.94%	67.96%	6.19%	136.59%	10.81%	-22.92%	11.63%	-33.85%	20.37%	125.0%	41.18%
Long-Term Debt	$42.19M	$28.16M	$0.00	$0.00	$100.0K	$1.000M	$3.000M	$0.00	$0.00	$0.00	$0.00	$0.00	$200.0K	$9.800M
YoY Change	49.83%			-100.0%	-90.0%	-66.67%						-100.0%	-97.96%
Other Long-Term Liabilities	$9.402M	$17.41M	$2.049M	$400.0K	$700.0K			$300.0K	$500.0K
YoY Change	-45.98%	749.44%	412.25%	-42.86%				-40.0%
Total Long-Term Liabilities	$51.59M	$45.56M	$2.049M	$400.0K	$800.0K	$1.000M	$3.000M	$300.0K	$500.0K	$0.00	$0.00	$0.00	$200.0K	$9.800M
YoY Change	13.23%	2123.62%	412.25%	-50.0%	-20.0%	-66.67%	900.0%	-40.0%				-100.0%	-97.96%
Total Liabilities	$92.11M	$82.31M	$36.87M	$17.70M	$11.00M	$10.60M	$7.100M	$4.000M	$5.300M	$4.300M	$6.500M	$5.400M	$2.600M	$11.50M
YoY Change	11.9%	123.23%	108.32%	60.91%	3.77%	49.3%	77.5%	-24.53%	23.26%	-33.85%	20.37%	107.69%	-77.39%

Ownership

Basic Shares Outstanding

Diluted Shares Outstanding

Preferred Stock

Treasury Stock Shares

Stock Issuance & Repurchase

Ownership Data

Concept	2023	2022	2021
Basic Shares Outstanding	44.18M shares	42.36M shares	42.02M shares
Diluted Shares Outstanding	44.18M shares	42.36M shares
Preferred Stock
Treasury Stock Shares

Return On Shareholders' Equity

Book Value

Free Cash Flow

Free Cash Flow YoY

Free Cash Flow Margin

Dividends

Stock Price

Market Cap: $83.849 Million

About GAN Ltd

GAN Ltd. engages in the development and sale of internet gambling software-as-a-service solutions. The company is headquartered in Irvine, California and currently employs 673 full-time employees. The company went IPO on 2020-05-05. The company is also a business-to-consumer (B2C) developer and operator of an online sports betting and casino platform, which offers individuals located in Northern Europe, Latin America, and Canada access to a digital portal for engaging in sports betting, online casino games and poker. The B2B segment develops, markets, and sells instances of and GameSTACK technology, GAN Sports, and iSight Back Office that incorporates player registration, account funding and back-office accounting and management tools. The B2C segment includes the operations of Coolbet. Its B2B segment features its technology platform, GameSTACK Internet gaming platform. GameSTACK platform and related support services are geared towards casino operators, with an emphasis on land-based commercial and tribal casinos.

Industry: Services-Computer Programming, Data Processing, Etc. Peers: PlayAGS, Inc. Galaxy Gaming, Inc. Canterbury Park Holding Corp CENTURY CASINOS INC /CO/ EBET, Inc. FULL HOUSE RESORTS INC LAS VEGAS SANDS CORP