$GAN
GAN Ltd

2022 Q4 Form 10-Q Financial Statement

#000149315222032240 Filed on November 14, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3 2021 Q3
Revenue $36.95M $32.12M $32.27M
YoY Change 21.43% -0.46% 214.2%
Cost Of Revenue $10.04M $9.435M $10.80M
YoY Change -12.71% -12.65% 177.66%
Gross Profit $26.91M $22.69M $21.47M
YoY Change 42.16% 5.67% 237.0%
Gross Profit Margin 72.84% 70.63% 66.53%
Selling, General & Admin $21.61M $16.94M $18.55M
YoY Change 4.46% -8.64% 77.8%
% of Gross Profit 80.32% 74.68% 86.39%
Research & Development $7.205M $4.998M $5.492M
YoY Change 3.16% -8.99%
% of Gross Profit 26.77% 22.03% 25.58%
Depreciation & Amortization $6.414M $5.893M $4.560M
YoY Change 55.57% 29.23%
% of Gross Profit 23.83% 25.98% 21.24%
Operating Expenses $35.23M $16.94M $28.60M
YoY Change 10.8% -40.76% 174.18%
Operating Profit -$8.322M -$5.148M -$7.130M
YoY Change -35.33% -27.8% 75.62%
Interest Expense $2.521M $1.450M
YoY Change -252200.0%
% of Operating Profit
Other Income/Expense, Net $1.191M $13.00K
YoY Change 190.49%
Pretax Income -$144.3M -$6.585M -$7.130M
YoY Change 804.07% -7.64% 74.75%
Income Tax $3.429M $356.0K $1.548M
% Of Pretax Income
Net Earnings -$147.7M -$6.941M -$8.678M
YoY Change 1077.25% -20.02% 112.7%
Net Earnings / Revenue -399.79% -21.61% -26.89%
Basic Earnings Per Share -$0.16 -$0.21
Diluted Earnings Per Share -$3.46 -$164.3K -$206.3K
COMMON SHARES
Basic Shares Outstanding 42.59M shares 42.08M shares 42.02M shares
Diluted Shares Outstanding 42.24M shares

Balance Sheet

Concept 2022 Q4 2022 Q3 2021 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $45.92M $41.79M $50.31M
YoY Change 16.32% -16.93% -12.51%
Cash & Equivalents $45.90M $41.79M $50.31M
Short-Term Investments
Other Short-Term Assets $3.041M $3.503M $4.791M
YoY Change -8.87% -26.88% 49.72%
Inventory
Prepaid Expenses $4.861M $4.432M
Receivables $13.81M $13.14M $7.391M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $67.63M $62.86M $62.49M
YoY Change 24.27% 0.6% -10.99%
LONG-TERM ASSETS
Property, Plant & Equipment $2.850M $2.548M
YoY Change 11.98%
Goodwill $99.09M
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $3.746M $4.336M $13.02M
YoY Change -62.63% -66.69% 12916.0%
Total Long-Term Assets $35.45M $167.2M $213.9M
YoY Change -82.83% -21.81% 2642.1%
TOTAL ASSETS
Total Short-Term Assets $67.63M $62.86M $62.49M
Total Long-Term Assets $35.45M $167.2M $213.9M
Total Assets $103.1M $230.1M $276.4M
YoY Change -60.49% -16.74% 254.32%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.437M $6.331M $4.647M
YoY Change 22.19% 36.24% -65.32%
Accrued Expenses $10.96M $2.674M $14.31M
YoY Change 134.83% -81.31%
Deferred Revenue $10.68M $8.946M
YoY Change 3993.1%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $32.53M $26.67M $33.32M
YoY Change -1.52% -19.96% 119.22%
LONG-TERM LIABILITIES
Long-Term Debt $28.16M $27.86M $0.00
YoY Change -100.0%
Other Long-Term Liabilities $2.125M $1.517M $1.716M
YoY Change 3.71% -11.6%
Total Long-Term Liabilities $2.125M $1.517M $1.716M
YoY Change 3.71% -11.6% 329.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $32.53M $26.67M $33.32M
Total Long-Term Liabilities $2.125M $1.517M $1.716M
Total Liabilities $82.31M $77.74M $37.21M
YoY Change 123.23% 108.92% 138.53%
SHAREHOLDERS EQUITY
Retained Earnings -$274.9M -$127.2M
YoY Change 260.01%
Common Stock $329.4M $327.8M
YoY Change 2.95%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $20.77M $152.4M $239.2M
YoY Change
Total Liabilities & Shareholders Equity $103.1M $230.1M $276.4M
YoY Change -60.49% -16.74% 254.32%

Cashflow Statement

Concept 2022 Q4 2022 Q3 2021 Q3
OPERATING ACTIVITIES
Net Income -$147.7M -$6.941M -$8.678M
YoY Change 1077.25% -20.02% 112.7%
Depreciation, Depletion And Amortization $6.414M $5.893M $4.560M
YoY Change 55.57% 29.23%
Cash From Operating Activities $2.310M $628.0K -$1.787M
YoY Change -136.36% -135.14% -61.4%
INVESTING ACTIVITIES
Capital Expenditures $1.089M -$5.004M -$3.556M
YoY Change -128.86% 40.72% 112.93%
Acquisitions
YoY Change
Other Investing Activities -$500.0K $0.00 $3.450M
YoY Change 85.19% -100.0%
Cash From Investing Activities -$1.589M -$5.004M -$106.0K
YoY Change -60.71% 4620.75% -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 -10.00K 493.0K 462.0K
YoY Change -135.71% 6.71% -205.0%
NET CHANGE
Cash From Operating Activities 2.310M 628.0K -1.787M
Cash From Investing Activities -1.589M -5.004M -106.0K
Cash From Financing Activities -10.00K 493.0K 462.0K
Net Change In Cash 711.0K -3.883M -1.431M
YoY Change -106.86% 171.35% -78.77%
FREE CASH FLOW
Cash From Operating Activities $2.310M $628.0K -$1.787M
Capital Expenditures $1.089M -$5.004M -$3.556M
Free Cash Flow $1.221M $5.632M $1.769M
YoY Change -147.34% 218.37% -159.76%

Facts In Submission

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CY2021Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-13582000 usd
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-78450000 usd
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-29986000 usd
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
224037000 usd
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-4499000 usd
CY2022Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-4264000 usd
CY2022Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1316000 usd
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
169006000 usd
CY2022Q1 GAN Adjustments To Additional Paid In Capital Accrued Liability Settled Through Issuance Of Shares
AdjustmentsToAdditionalPaidInCapitalAccruedLiabilitySettledThroughIssuanceOfShares
444000 usd
CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
217034000 usd
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-38349000 usd
CY2022Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-12196000 usd
CY2022Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
2659000 usd
CY2022Q2 GAN Adjustments To Additional Paid In Capital Accrued Liability Settled Through Issuance Of Shares
AdjustmentsToAdditionalPaidInCapitalAccruedLiabilitySettledThroughIssuanceOfShares
469000 usd
CY2022Q2 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
1006000 usd
CY2022Q2 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
395000 usd
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
-6941000 usd
CY2022Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-12201000 usd
CY2022Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
2140000 usd
CY2022Q3 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
-135000 usd
CY2022Q3 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
325000 usd
CY2022Q3 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
169000 usd
CY2022Q3 us-gaap Stockholders Equity
StockholdersEquity
152363000 usd
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
155564000 usd
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
-5610000 usd
CY2021Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-9478000 usd
CY2021Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1632000 usd
CY2021Q1 us-gaap Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
106683000 usd
CY2021Q1 us-gaap Adjustments To Additional Paid In Capital Mark To Market
AdjustmentsToAdditionalPaidInCapitalMarkToMarket
297000 usd
CY2021Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
315000 usd
CY2021Q1 us-gaap Stockholders Equity
StockholdersEquity
249403000 usd
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-3759000 usd
CY2021Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
2443000 usd
CY2021Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
2319000 usd
CY2021Q2 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
22000 usd
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
250428000 usd
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
-8678000 usd
CY2021Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-4904000 usd
CY2021Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1823000 usd
CY2021Q3 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
491000 usd
CY2021Q3 us-gaap Stockholders Equity
StockholdersEquity
239160000 usd
us-gaap Net Income Loss
NetIncomeLoss
-49789000 usd
us-gaap Net Income Loss
NetIncomeLoss
-18047000 usd
GAN Amortization Of Software And Intangible Assets
AmortizationOfSoftwareAndIntangibleAssets
15837000 usd
GAN Amortization Of Software And Intangible Assets
AmortizationOfSoftwareAndIntangibleAssets
11888000 usd
us-gaap Depreciation
Depreciation
1025000 usd
us-gaap Depreciation
Depreciation
798000 usd
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
280000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
5671000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
5774000 usd
us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
28861000 usd
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
541000 usd
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
22000 usd
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
-226000 usd
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
-2552000 usd
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-432000 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
5189000 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
483000 usd
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
1226000 usd
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
-272000 usd
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
265000 usd
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
9123000 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
1730000 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-1255000 usd
us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
-4174000 usd
us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
3370000 usd
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-1689000 usd
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
3906000 usd
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
1296000 usd
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
2847000 usd
us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
-387000 usd
us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
-460000 usd
us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
1389000 usd
us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
1205000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-3559000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
1350000 usd
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
92454000 usd
us-gaap Payments To Develop Software
PaymentsToDevelopSoftware
9242000 usd
us-gaap Payments To Develop Software
PaymentsToDevelopSoftware
8483000 usd
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
5500000 usd
us-gaap Payments To Acquire Other Productive Assets
PaymentsToAcquireOtherProductiveAssets
1115000 usd
us-gaap Payments To Acquire Other Productive Assets
PaymentsToAcquireOtherProductiveAssets
215000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1657000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1478000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-17514000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-102630000 usd
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
30000000 usd
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
604000 usd
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
720000 usd
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
828000 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
169000 usd
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
83000 usd
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
1006000 usd
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
2425000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
27458000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
141000 usd
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-4074000 usd
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-1210000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
2311000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-102349000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
39477000 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
152654000 usd
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
41788000 usd
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
50305000 usd
GAN Intangible Assets Acquired In Business Acquisition
IntangibleAssetsAcquiredInBusinessAcquisition
26244000 usd
CY2022Q3 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
684000 usd
GAN Ordinary Shares Issued As Partial Consideration To Acquire All Outstanding Shares
OrdinarySharesIssuedAsPartialConsiderationToAcquireAllOutstandingShares
106683000 usd
GAN Issuance Of Unvested Share Options In Exchange For Unvested Share Options
IssuanceOfUnvestedShareOptionsInExchangeForUnvestedShareOptions
297000 usd
us-gaap Nature Of Operations
NatureOfOperations
<p id="xdx_801_eus-gaap--NatureOfOperations_zBDxtvFPH916" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 1 — <span id="xdx_827_z31KHG1rOzvj">NATURE OF OPERATIONS</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GAN Limited (the “Parent,” and with its subsidiaries, collectively the “Company”) is an exempted company limited by shares, incorporated and registered in Bermuda. GAN plc, the previous parent, began its operations in the United Kingdom (“U.K.”) in 2002 and listed its ordinary shares on the AIM, the London Stock Exchange’s market for smaller companies, in 2013.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On January 1, 2021, the Company acquired all of the outstanding shares of Vincent Group p.l.c. (“Vincent Group”), a Malta public limited company doing business as “Coolbet”. Coolbet is a developer and operator of an online sports betting and casino platform that is accessible through its website in markets across Northern Europe, Latin America and Canada.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company is a business-to-business (“B2B”) supplier of a proprietary gaming system, GameSTACK™ (“GameSTACK”), which is used predominately in the U.S. land-based casino industry. For its B2B customers, GameSTACK is a turnkey technology solution for regulated real money internet gambling (“real money iGaming” or “RMiG”), online sports gaming, and virtual simulated gaming (“SIM”). The Company is also a business-to-consumer (“B2C”) developer and operator of an online sports betting and casino platform, providing international users with access through www.coolbet.com to its sportsbook, casino games and poker products. The Company operates in <span id="xdx_907_eus-gaap--NumberOfOperatingSegments_pid_dc_uInteger_c20220101__20220930_z1VdEdqt2Esg" title="Number of operating segments">two</span> operating segments – B2B and B2C.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2 integer
us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_84A_eus-gaap--UseOfEstimates_zD4UxRSQJxhi" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_868_zfkUa47EEqqf">Use of Estimates</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of the condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Due to the inherent uncertainties involved in making estimates, actual results could differ from the original estimates, and may require significant adjustments to these reported balances in future periods.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2022Q3 GAN Amounts Due To Customers Current
AmountsDueToCustomersCurrent
1362000 usd
CY2021Q4 GAN Amounts Due To Customers Current
AmountsDueToCustomersCurrent
2171000 usd
CY2021Q3 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
-589000 usd
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
-494000 usd
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
-761000 usd
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p id="xdx_849_eus-gaap--ConcentrationRiskCreditRisk_zFZdyYkmCJSk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_86B_zY9D7UoP8CYc">Concentration of Credit Risk</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial instruments that potentially subject the Company to concentration of credit risk consist primarily of its cash and trade receivables. At September 30, 2022, the Company held cash deposits in foreign countries, primarily in Northern Europe and Latin America, of approximately $<span id="xdx_908_eus-gaap--Deposits_iI_pn6n6_c20220930__srt--StatementGeographicalAxis__custom--NorthernEuropeAndLatinAmericaMember_znpDPphGIdBf" title="Cash deposits">33.0</span> million, which are subject to local banking laws and may bear higher or lower risk than cash deposited in the United States. Cash held in the United States is maintained in a major financial institution in excess of federally insured limits. As part of our cash management processes, the Company performs periodic evaluations of the credit standing of the financial institutions and we have not sustained any credit losses from instruments held at these financial institutions. Additionally, the Company maintains an allowance for potential credit losses, but historically has not experienced any significant losses related to individual customers or groups of customers in any particular geographic area.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"/></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><b><i>Risks and Uncertainties</i></b></p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in">Macroeconomic conditions can materially adversely affect the Company’s business, results of operations and financial condition. Recent adverse macroeconomic conditions, including inflation, higher interest rates, slower growth or recession, the strengthening of the U.S. dollar, and corresponding currency fluctuations can have an adverse material impact on the Company’s future results of operations, cash flows, and financial condition, particularly with respect to foreign currency adjustments relating to our international operations. Such conditions may also affect consumers’ willingness to make discretionary purchases, and therefore the Company, along with its casino operator customers, may experience a decline in wagering. A downturn in the economic environment can also lead to increased credit and collectibility risk on the Company’s trade receivables, limitations on the Company’s ability to issue new debt, and reduced liquidity.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>GAN LIMITED</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(in thousands, except share and per share amounts)</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p>
CY2022Q3 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
500000 usd
CY2022Q3 GAN Number Of Third Party Gaming Products Available
NumberOfThirdPartyGamingProductsAvailable
3200 integer
CY2022Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets
1400000 usd
GAN Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Assets Term
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssetsTerm
P5Y
CY2022Q3 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
8946000 usd
CY2021Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
8984000 usd
us-gaap Asset Impairment Charges
AssetImpairmentCharges
28900000 usd
CY2022Q3 us-gaap Business Combination Contingent Consideration Liability
BusinessCombinationContingentConsiderationLiability
4369000 usd
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2 integer
GAN Payment Of Fixed Fees
PaymentOfFixedFees
5500000 usd
CY2022Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Assets Prepaid Expense And Other Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsPrepaidExpenseAndOtherAssets
18808000 usd
CY2022Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Assets Other
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsOther
3067000 usd
CY2022Q3 us-gaap Business Combination Contingent Consideration Asset
BusinessCombinationContingentConsiderationAsset
4369000 usd
CY2022Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Net
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet
26244000 usd
CY2022Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Net
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet
26244000 usd
CY2022Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
5442000 usd
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
4989000 usd
CY2022Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
2894000 usd
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
2444000 usd
CY2022Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2548000 usd
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2545000 usd
CY2022Q3 us-gaap Depreciation Expense On Reclassified Assets
DepreciationExpenseOnReclassifiedAssets
312000 usd
CY2021Q3 us-gaap Depreciation Expense On Reclassified Assets
DepreciationExpenseOnReclassifiedAssets
260000 usd
us-gaap Depreciation Expense On Reclassified Assets
DepreciationExpenseOnReclassifiedAssets
926000 usd
us-gaap Depreciation Expense On Reclassified Assets
DepreciationExpenseOnReclassifiedAssets
717000 usd
CY2022Q3 GAN Capitalized Computer Software Gross Excluding Development In Progress
CapitalizedComputerSoftwareGrossExcludingDevelopmentInProgress
32059000 usd
CY2021Q4 GAN Capitalized Computer Software Gross Excluding Development In Progress
CapitalizedComputerSoftwareGrossExcludingDevelopmentInProgress
26127000 usd
CY2022Q3 GAN Capitalized Computer Software In Progress Development
CapitalizedComputerSoftwareInProgressDevelopment
2528000 usd
CY2021Q4 GAN Capitalized Computer Software In Progress Development
CapitalizedComputerSoftwareInProgressDevelopment
5910000 usd
CY2022Q3 us-gaap Capitalized Computer Software Gross
CapitalizedComputerSoftwareGross
34587000 usd
CY2021Q4 us-gaap Capitalized Computer Software Gross
CapitalizedComputerSoftwareGross
32037000 usd
CY2022Q3 us-gaap Capitalized Computer Software Accumulated Amortization
CapitalizedComputerSoftwareAccumulatedAmortization
18498000 usd
CY2021Q4 us-gaap Capitalized Computer Software Accumulated Amortization
CapitalizedComputerSoftwareAccumulatedAmortization
17607000 usd
CY2022Q3 us-gaap Capitalized Computer Software Net
CapitalizedComputerSoftwareNet
16089000 usd
CY2021Q4 us-gaap Capitalized Computer Software Net
CapitalizedComputerSoftwareNet
14430000 usd
CY2022Q3 us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
1438000 usd
CY2021Q3 us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
908000 usd
us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
4552000 usd
us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
2569000 usd
CY2021Q4 us-gaap Goodwill
Goodwill
146142000 usd
us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
28861000 usd
us-gaap Goodwill Translation And Purchase Accounting Adjustments
GoodwillTranslationAndPurchaseAccountingAdjustments
18195000 usd
CY2022Q3 us-gaap Goodwill
Goodwill
99086000 usd
us-gaap Asset Impairment Charges
AssetImpairmentCharges
28900000 usd
CY2022Q3 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
69523000 usd
CY2022Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
21789000 usd
CY2022Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
47734000 usd
CY2021Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
48910000 usd
CY2021Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
13017000 usd
CY2021Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
35893000 usd
us-gaap Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
P5Y
CY2022Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
4135000 usd
CY2021Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
3356000 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
11285000 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
9319000 usd
CY2022Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
4369000 usd
CY2022Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
17611000 usd
CY2022Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
8005000 usd
CY2022Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
7996000 usd
CY2022Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
2330000 usd
CY2022Q3 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
7423000 usd
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
4138215 shares
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
13.05
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y18D
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
11229000 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
947002 shares
CY2022Q3 GAN Accrued Licensing Fees Current
AccruedLicensingFeesCurrent
1480000 usd
CY2021Q4 GAN Accrued Licensing Fees Current
AccruedLicensingFeesCurrent
2402000 usd
CY2022Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1194000 usd
CY2021Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
2267000 usd
CY2022Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
2674000 usd
CY2021Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
4669000 usd
CY2022Q2 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
30000000.0 usd
CY2022Q2 us-gaap Debt Instrument Interest Rate Stated Percentage
DebtInstrumentInterestRateStatedPercentage
0.095 pure
CY2022Q2 us-gaap Debt Instrument Maturity Date
DebtInstrumentMaturityDate
2026-10-26
CY2022Q3 us-gaap Deferred Finance Costs Gross
DeferredFinanceCostsGross
2400000 usd
CY2022Q3 us-gaap Line Of Credit
LineOfCredit
27600000 usd
CY2022Q3 us-gaap Debt Instrument Interest Rate Effective Percentage
DebtInstrumentInterestRateEffectivePercentage
0.1328 pure
CY2022Q3 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
30000000 usd
CY2022Q3 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
-2145000 usd
CY2022Q3 us-gaap Long Term Debt
LongTermDebt
27855000 usd
CY2022Q3 us-gaap Interest Expense Debt
InterestExpenseDebt
1071000 usd
us-gaap Interest Expense Debt
InterestExpenseDebt
1735000 usd
CY2022Q3 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
185000 usd
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
280000 usd
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0.03
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
375416 shares
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P6Y11M19D
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
1.93
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
998942 shares
CY2022Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
672000 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
15.29
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
3710859 shares
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
10.25
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y7M6D
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
1756000 usd
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
2271058 shares
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
8.44
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
0.13
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
8.00
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
4.13
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
11.49
CY2022Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5240901 shares
CY2021Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4271571 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5240901 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4271571 shares
CY2022Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
32120000 usd
CY2021Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
32268000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
104581000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
93736000 usd
CY2022Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
459000 usd
CY2021Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
1811000 usd
CY2021Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
1874000 usd
CY2020Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
1083000 usd
CY2022Q3 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
1467000 usd
CY2021Q3 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
1808000 usd
CY2022Q3 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
1467000 usd
CY2021Q3 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
1808000 usd
CY2022Q3 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
250000 usd
CY2021Q3 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
179000 usd
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
775000 usd
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
121000 usd
CY2022Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
32120000 usd
CY2021Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
32268000 usd
CY2022Q3 us-gaap Cost Of Goods And Service Excluding Depreciation Depletion And Amortization
CostOfGoodsAndServiceExcludingDepreciationDepletionAndAmortization
9435000 usd
CY2021Q3 us-gaap Cost Of Goods And Service Excluding Depreciation Depletion And Amortization
CostOfGoodsAndServiceExcludingDepreciationDepletionAndAmortization
10801000 usd
CY2022Q3 GAN Operating Income Loss Excluding Depreciation And Amortization
OperatingIncomeLossExcludingDepreciationAndAmortization
22685000 usd
CY2021Q3 GAN Operating Income Loss Excluding Depreciation And Amortization
OperatingIncomeLossExcludingDepreciationAndAmortization
21467000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
104581000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
93736000 usd
us-gaap Cost Of Goods And Service Excluding Depreciation Depletion And Amortization
CostOfGoodsAndServiceExcludingDepreciationDepletionAndAmortization
31598000 usd
GAN Operating Income Loss Excluding Depreciation And Amortization
OperatingIncomeLossExcludingDepreciationAndAmortization
72983000 usd
GAN Operating Income Loss Excluding Depreciation And Amortization
OperatingIncomeLossExcludingDepreciationAndAmortization
63860000 usd
CY2022Q3 GAN Segment Gross Profit
SegmentGrossProfit
22685000 usd
CY2021Q3 GAN Segment Gross Profit
SegmentGrossProfit
21467000 usd
GAN Segment Gross Profit
SegmentGrossProfit
72983000 usd
GAN Segment Gross Profit
SegmentGrossProfit
63860000 usd
CY2022Q3 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
6757000 usd
CY2021Q3 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
5657000 usd
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
20122000 usd
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
15238000 usd
CY2022Q3 GAN Product And Technology Expense
ProductAndTechnologyExpense
4998000 usd
CY2021Q3 GAN Product And Technology Expense
ProductAndTechnologyExpense
5492000 usd
GAN Product And Technology Expense
ProductAndTechnologyExpense
19140000 usd
GAN Product And Technology Expense
ProductAndTechnologyExpense
15564000 usd
CY2022Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
10185000 usd
CY2021Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
12888000 usd
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
33265000 usd
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
35217000 usd
us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
28861000 usd
us-gaap Restructuring Costs
RestructuringCosts
1771000 usd
CY2022Q3 us-gaap Depreciation And Amortization
DepreciationAndAmortization
5893000 usd
CY2021Q3 us-gaap Depreciation And Amortization
DepreciationAndAmortization
4560000 usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
16862000 usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
12686000 usd
CY2022Q3 us-gaap Interest Expense
InterestExpense
1450000 usd
us-gaap Interest Expense
InterestExpense
2521000 usd
us-gaap Interest Expense
InterestExpense
1000 usd
CY2022Q3 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
13000 usd
us-gaap Other Nonoperating Income
OtherNonoperatingIncome
283000 usd
CY2022Q3 us-gaap Income Loss Attributable To Parent
IncomeLossAttributableToParent
-6585000 usd
CY2021Q3 us-gaap Income Loss Attributable To Parent
IncomeLossAttributableToParent
-7130000 usd
us-gaap Income Loss Attributable To Parent
IncomeLossAttributableToParent
-49276000 usd
us-gaap Income Loss Attributable To Parent
IncomeLossAttributableToParent
-14846000 usd
CY2022Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
32120000 usd
CY2021Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
32268000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
104581000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
93736000 usd
CY2022Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
32120000 usd
CY2021Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
32268000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
104581000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
93736000 usd
CY2022Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.054 pure
CY2021Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.217 pure
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.010 pure
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.216 pure
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0 pure
us-gaap Restructuring Charges
RestructuringCharges
1800000 usd
CY2022Q2 us-gaap Payments To Acquire Businesses Gross
PaymentsToAcquireBusinessesGross
25000000.0 usd
GAN Payment Of Fixed Fees
PaymentOfFixedFees
5500000 usd

Files In Submission

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0001493152-22-032240.txt Edgar Link pending
0001493152-22-032240-xbrl.zip Edgar Link pending
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gan-20220930_pre.xml Edgar Link unprocessable