$GAN
GAN Ltd

2021 Q3 Form 10-Q Financial Statement

#000149315221028228 Filed on November 12, 2021

View on sec.gov

Income Statement

Concept 2021 Q3 2020 Q3
Revenue $32.27M $10.27M
YoY Change 214.2%
Cost Of Revenue $10.80M $3.890M
YoY Change 177.66%
Gross Profit $21.47M $6.370M
YoY Change 237.0%
Gross Profit Margin 66.53% 62.03%
Selling, General & Admin $18.55M $10.43M
YoY Change 77.8%
% of Gross Profit 86.39% 163.74%
Research & Development $5.492M
YoY Change
% of Gross Profit 25.58%
Depreciation & Amortization $4.560M
YoY Change
% of Gross Profit 21.24%
Operating Expenses $28.60M $10.43M
YoY Change 174.18%
Operating Profit -$7.130M -$4.060M
YoY Change 75.62%
Interest Expense $2.000K
YoY Change
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$7.130M -$4.080M
YoY Change 74.75%
Income Tax $1.548M -$10.00K
% Of Pretax Income
Net Earnings -$8.678M -$4.080M
YoY Change 112.7%
Net Earnings / Revenue -26.89% -39.73%
Basic Earnings Per Share -$0.21
Diluted Earnings Per Share -$206.3K -$138.0K
COMMON SHARES
Basic Shares Outstanding 42.02M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2021 Q3 2020 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $50.31M $57.50M
YoY Change -12.51%
Cash & Equivalents $50.31M $57.50M
Short-Term Investments
Other Short-Term Assets $4.791M $3.200M
YoY Change 49.72%
Inventory $400.0K
Prepaid Expenses
Receivables $7.391M $9.100M
Other Receivables $0.00 $0.00
Total Short-Term Assets $62.49M $70.20M
YoY Change -10.99%
LONG-TERM ASSETS
Property, Plant & Equipment $1.400M
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $13.02M $100.0K
YoY Change 12916.0%
Total Long-Term Assets $213.9M $7.800M
YoY Change 2642.1%
TOTAL ASSETS
Total Short-Term Assets $62.49M $70.20M
Total Long-Term Assets $213.9M $7.800M
Total Assets $276.4M $78.00M
YoY Change 254.32%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.647M $13.40M
YoY Change -65.32%
Accrued Expenses $14.31M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $300.0K
YoY Change
Total Short-Term Liabilities $33.32M $15.20M
YoY Change 119.22%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $400.0K
YoY Change -100.0%
Other Long-Term Liabilities $1.716M
YoY Change
Total Long-Term Liabilities $1.716M $400.0K
YoY Change 329.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $33.32M $15.20M
Total Long-Term Liabilities $1.716M $400.0K
Total Liabilities $37.21M $15.60M
YoY Change 138.53%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $239.2M $62.40M
YoY Change
Total Liabilities & Shareholders Equity $276.4M $78.00M
YoY Change 254.32%

Cashflow Statement

Concept 2021 Q3 2020 Q3
OPERATING ACTIVITIES
Net Income -$8.678M -$4.080M
YoY Change 112.7%
Depreciation, Depletion And Amortization $4.560M
YoY Change
Cash From Operating Activities -$1.787M -$4.630M
YoY Change -61.4%
INVESTING ACTIVITIES
Capital Expenditures -$3.556M -$1.670M
YoY Change 112.93%
Acquisitions
YoY Change
Other Investing Activities $3.450M $0.00
YoY Change
Cash From Investing Activities -$106.0K -$1.670M
YoY Change -93.65%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 462.0K -440.0K
YoY Change -205.0%
NET CHANGE
Cash From Operating Activities -1.787M -4.630M
Cash From Investing Activities -106.0K -1.670M
Cash From Financing Activities 462.0K -440.0K
Net Change In Cash -1.431M -6.740M
YoY Change -78.77%
FREE CASH FLOW
Cash From Operating Activities -$1.787M -$4.630M
Capital Expenditures -$3.556M -$1.670M
Free Cash Flow $1.769M -$2.960M
YoY Change -159.76%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
USD
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2 Integer
CY2020Q2 GAN Business Combination Consideration Transferred Equity Interest Issued Or Issuable Shares Issued Per Share Of Acquiree
BusinessCombinationConsiderationTransferredEquityInterestIssuedOrIssuableSharesIssuedPerShareOfAcquiree
4 shares
us-gaap Number Of Reporting Units
NumberOfReportingUnits
2 Integer
CY2020Q4 us-gaap Goodwill
Goodwill
USD
GAN Reallocation Of Goodwill
ReallocationOfGoodwill
USD
CY2021Q3 us-gaap Interest Expense
InterestExpense
USD
CY2021Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
USD
CY2020Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
USD
CY2021Q3 us-gaap Contractual Obligation Due In Fourth Year
ContractualObligationDueInFourthYear
8000000.0 USD
CY2020Q4 us-gaap Goodwill
Goodwill
USD
CY2020Q4 GAN Contract With Customer Liability To User Current
ContractWithCustomerLiabilityToUserCurrent
USD
CY2020Q4 us-gaap Deferred Income Tax Liabilities Net
DeferredIncomeTaxLiabilitiesNet
USD
CY2021Q3 us-gaap Interest Revenue Expense Net
InterestRevenueExpenseNet
USD
CY2021Q2 GAN Stock Issued During Period Value Restricted Stock Units
StockIssuedDuringPeriodValueRestrictedStockUnits
USD
CY2021Q3 GAN Stock Issued During Period Value Restricted Stock Units
StockIssuedDuringPeriodValueRestrictedStockUnits
USD
CY2020Q2 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
USD
GAN Increase Decrease In Amounts Due To Customers In Game Virtual Credit Purchases
IncreaseDecreaseInAmountsDueToCustomersInGameVirtualCreditPurchases
USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
USD
us-gaap Payments For Repurchase Of Equity
PaymentsForRepurchaseOfEquity
USD
us-gaap Stock Issued1
StockIssued1
USD
GAN Stock Issued Acquisition
StockIssuedAcquisition
USD
us-gaap Investment Income Interest
InvestmentIncomeInterest
USD
CY2021Q3 us-gaap Interest Revenue Expense Net
InterestRevenueExpenseNet
USD
CY2021Q3 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
USD
CY2019 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2 Integer
CY2020Q3 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 Integer
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 Integer
CY2021Q3 us-gaap Interest Revenue Expense Net
InterestRevenueExpenseNet
USD
CY2021Q2 GAN Contractual Obligation Number Of Gaming Manufacturers
ContractualObligationNumberOfGamingManufacturers
2 Integer
CY2021Q2 GAN Contractual Obligation Term
ContractualObligationTerm
P5Y
CY2020Q3 us-gaap Interest Expense
InterestExpense
2000 USD
us-gaap Interest Expense
InterestExpense
1000 USD
us-gaap Interest Expense
InterestExpense
395000 USD
CY2021Q3 us-gaap Cost Of Goods And Service Excluding Depreciation Depletion And Amortization
CostOfGoodsAndServiceExcludingDepreciationDepletionAndAmortization
10801000 USD
CY2020Q3 us-gaap Cost Of Goods And Service Excluding Depreciation Depletion And Amortization
CostOfGoodsAndServiceExcludingDepreciationDepletionAndAmortization
3083000 USD
us-gaap Cost Of Goods And Service Excluding Depreciation Depletion And Amortization
CostOfGoodsAndServiceExcludingDepreciationDepletionAndAmortization
29876000 USD
us-gaap Cost Of Goods And Service Excluding Depreciation Depletion And Amortization
CostOfGoodsAndServiceExcludingDepreciationDepletionAndAmortization
6898000 USD
CY2021Q3 GAN Operating Income Loss Excluding Depreciation And Amortization
OperatingIncomeLossExcludingDepreciationAndAmortization
21460000 USD
CY2020Q3 GAN Operating Income Loss Excluding Depreciation And Amortization
OperatingIncomeLossExcludingDepreciationAndAmortization
7183000 USD
GAN Operating Income Loss Excluding Depreciation And Amortization
OperatingIncomeLossExcludingDepreciationAndAmortization
64855000 USD
GAN Operating Income Loss Excluding Depreciation And Amortization
OperatingIncomeLossExcludingDepreciationAndAmortization
19361000 USD
CY2021Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
12895000 USD
CY2020Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
6120000 USD
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
35232000 USD
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
16297000 USD

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