2023 Q1 Form 10-K Financial Statement

#000149315223012201 Filed on April 14, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $35.13M $36.95M $141.5M
YoY Change -6.31% 21.43% 13.99%
Cost Of Revenue $10.16M $10.04M $41.63M
YoY Change -13.15% -12.71% 0.63%
Gross Profit $24.97M $26.91M $99.89M
YoY Change -3.2% 42.16% 20.66%
Gross Profit Margin 71.08% 72.84% 70.58%
Selling, General & Admin $17.19M $21.61M $75.00M
YoY Change 10.97% 4.46% 5.42%
% of Gross Profit 68.85% 80.32% 75.08%
Research & Development $9.578M $7.205M $26.35M
YoY Change 6.97% 3.16% 16.84%
% of Gross Profit 38.36% 26.77% 26.37%
Depreciation & Amortization $365.0K $6.414M $23.28M
YoY Change -91.73% 55.57% 38.47%
% of Gross Profit 1.46% 23.83% 23.3%
Operating Expenses $17.19M $35.23M $124.6M
YoY Change -40.43% 10.8% 12.78%
Operating Profit -$6.001M -$8.322M -$24.73M
YoY Change 95.92% -35.33% -10.77%
Interest Expense $1.716M $2.521M
YoY Change 18966.67% -252200.0%
% of Operating Profit
Other Income/Expense, Net $9.292M $1.191M -$1.047M
YoY Change 190.49% -376.98%
Pretax Income $1.575M -$144.3M -$193.6M
YoY Change -138.29% 804.07% 528.33%
Income Tax $74.00K $3.429M $3.942M
% Of Pretax Income 4.7%
Net Earnings $1.501M -$147.7M -$197.5M
YoY Change -133.36% 1077.25% 545.54%
Net Earnings / Revenue 4.27% -399.79% -139.55%
Basic Earnings Per Share $0.03 -$4.66
Diluted Earnings Per Share $0.03 -$3.46 -$4.66
COMMON SHARES
Basic Shares Outstanding 43.14M shares 42.59M shares 42.36M shares
Diluted Shares Outstanding 47.20M shares 42.36M shares

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $40.76M $45.92M $45.92M
YoY Change 21.36% 16.32% 16.32%
Cash & Equivalents $40.80M $45.90M $45.92M
Short-Term Investments
Other Short-Term Assets $3.111M $3.041M $7.902M
YoY Change -59.93% -8.87% 15.61%
Inventory
Prepaid Expenses $5.333M $4.861M
Receivables $13.87M $13.81M $13.81M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $63.07M $67.63M $67.63M
YoY Change 28.23% 24.27% 24.27%
LONG-TERM ASSETS
Property, Plant & Equipment $2.781M $2.850M $2.850M
YoY Change 11.98% -14.9%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $3.642M $3.746M $896.0K
YoY Change -62.42% -62.63% -86.57%
Total Long-Term Assets $33.57M $35.45M $35.45M
YoY Change -83.34% -82.83% -82.83%
TOTAL ASSETS
Total Short-Term Assets $63.07M $67.63M $67.63M
Total Long-Term Assets $33.57M $35.45M $35.45M
Total Assets $96.64M $103.1M $103.1M
YoY Change -61.45% -60.49% -60.49%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.603M $6.437M $6.437M
YoY Change -2.98% 22.19% 22.19%
Accrued Expenses $10.61M $10.96M $10.96M
YoY Change -13.54% 134.83% -30.86%
Deferred Revenue $9.663M $10.68M
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 $30.99M $32.53M $32.53M
YoY Change 3.23% -1.52% -1.52%
LONG-TERM LIABILITIES
Long-Term Debt $28.48M $28.16M $28.16M
YoY Change
Other Long-Term Liabilities $2.058M $2.125M $17.41M
YoY Change 9.47% 3.71% 749.44%
Total Long-Term Liabilities $2.058M $2.125M $45.56M
YoY Change 9.47% 3.71% 2123.62%
TOTAL LIABILITIES
Total Short-Term Liabilities $30.99M $32.53M $32.53M
Total Long-Term Liabilities $2.058M $2.125M $45.56M
Total Liabilities $72.03M $82.31M $82.31M
YoY Change 114.01% 123.23% 123.23%
SHAREHOLDERS EQUITY
Retained Earnings -$273.4M -$274.9M
YoY Change 260.01%
Common Stock $330.8M $329.4M
YoY Change 2.95%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $24.61M $20.77M $20.77M
YoY Change
Total Liabilities & Shareholders Equity $96.64M $103.1M $103.1M
YoY Change -61.45% -60.49% -60.49%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income $1.501M -$147.7M -$197.5M
YoY Change -133.36% 1077.25% 545.54%
Depreciation, Depletion And Amortization $365.0K $6.414M $23.28M
YoY Change -91.73% 55.57% 38.47%
Cash From Operating Activities -$4.175M $2.310M -$1.200M
YoY Change 106.27% -136.36% -76.01%
INVESTING ACTIVITIES
Capital Expenditures $254.0K $1.089M $1.930M
YoY Change -106.37% -128.86% -113.84%
Acquisitions
YoY Change
Other Investing Activities -$500.0K -$6.000M
YoY Change 85.19% -93.53%
Cash From Investing Activities -$1.762M -$1.589M -$19.10M
YoY Change -55.82% -60.71% -82.09%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$47.00K -10.00K $27.45M
YoY Change -135.71% 16141.42%
NET CHANGE
Cash From Operating Activities -$4.175M 2.310M -$1.200M
Cash From Investing Activities -$1.762M -1.589M -$19.10M
Cash From Financing Activities -$47.00K -10.00K $27.45M
Net Change In Cash -$5.165M 711.0K $6.443M
YoY Change -106.86% -105.78%
FREE CASH FLOW
Cash From Operating Activities -$4.175M $2.310M -$1.200M
Capital Expenditures $254.0K $1.089M $1.930M
Free Cash Flow -$4.429M $1.221M -$3.130M
YoY Change -325.51% -147.34% -134.98%

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IncreaseDecreaseInOtherNoncurrentLiabilities
1300000 usd
CY2021 us-gaap Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
106683000 usd
CY2021 GAN Stock Issued During Period Value Acquisitions Unvested Stock Options
StockIssuedDuringPeriodValueAcquisitionsUnvestedStockOptions
297000 usd
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
224037000 usd
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
224037000 usd
CY2022 us-gaap Net Income Loss
NetIncomeLoss
-197498000 usd
CY2022 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-14222000 usd
CY2022 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
7611000 usd
CY2022 GAN Adjustments To Additional Paid Incapital Accrued Liability Settled Through Issuance Of Shares
AdjustmentsToAdditionalPaidIncapitalAccruedLiabilitySettledThroughIssuanceOfShares
913000 usd
CY2022 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
139000 usd
CY2022 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
269000 usd
CY2022 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
1006000 usd
CY2022 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
722000 usd
CY2022 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
341000 usd
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
20768000 usd
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
20768000 usd
CY2022 us-gaap Net Income Loss
NetIncomeLoss
-197498000 usd
CY2021 us-gaap Net Income Loss
NetIncomeLoss
-30594000 usd
CY2022 GAN Amortization Of Software And Intangible Assets
AmortizationOfSoftwareAndIntangibleAssets
21747000 usd
CY2021 GAN Amortization Of Software And Intangible Assets
AmortizationOfSoftwareAndIntangibleAssets
15732000 usd
CY2022 GAN Depreciation On Property And Equipment And Finance Lease Rightofuse Assets
DepreciationOnPropertyAndEquipmentAndFinanceLeaseRightofuseAssets
1529000 usd
CY2021 GAN Depreciation On Property And Equipment And Finance Lease Rightofuse Assets
DepreciationOnPropertyAndEquipmentAndFinanceLeaseRightofuseAssets
1077000 usd
CY2022 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
582000 usd
CY2022 us-gaap Share Based Compensation
ShareBasedCompensation
7070000 usd
CY2021 us-gaap Share Based Compensation
ShareBasedCompensation
8136000 usd
CY2022 GAN Deferred Income Tax
DeferredIncomeTax
3250000 usd
CY2021 GAN Deferred Income Tax
DeferredIncomeTax
-422000 usd
CY2022 us-gaap Goodwill And Intangible Asset Impairment
GoodwillAndIntangibleAssetImpairment
166010000 usd
CY2021 us-gaap Goodwill And Intangible Asset Impairment
GoodwillAndIntangibleAssetImpairment
3500000 usd
CY2022 us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Asset1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationAsset1
3000000 usd
CY2022 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-147000 usd
CY2021 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-591000 usd
CY2022 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
5934000 usd
CY2021 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
1503000 usd
CY2022 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
1320000 usd
CY2021 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
806000 usd
CY2022 us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
-41000 usd
CY2021 us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
779000 usd
CY2022 us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
-3114000 usd
CY2021 us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
9038000 usd
CY2022 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
1383000 usd
CY2021 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-783000 usd
CY2022 us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
-1708000 usd
CY2021 us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
3782000 usd
CY2021 GAN Increase Decrease In Accrued Content License Fees
IncreaseDecreaseInAccruedContentLicenseFees
471000 usd
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-1249000 usd
CY2021 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-5003000 usd
CY2021 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
92724000 usd
CY2022 us-gaap Payments To Develop Software
PaymentsToDevelopSoftware
10058000 usd
CY2021 us-gaap Payments To Develop Software
PaymentsToDevelopSoftware
11588000 usd
CY2022 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
6000000 usd
CY2022 us-gaap Payments To Acquire Other Productive Assets
PaymentsToAcquireOtherProductiveAssets
1115000 usd
CY2021 us-gaap Payments To Acquire Other Productive Assets
PaymentsToAcquireOtherProductiveAssets
433000 usd
CY2022 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1930000 usd
CY2021 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1929000 usd
CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-19103000 usd
CY2021 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-106674000 usd
CY2022 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
30000000 usd
CY2021 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
604000 usd
CY2022 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
722000 usd
CY2021 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
855000 usd
CY2022 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
341000 usd
CY2021 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
82000 usd
CY2022 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
1006000 usd
CY2022 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
184000 usd
CY2022 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
2425000 usd
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
27448000 usd
CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
169000 usd
CY2022 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-653000 usd
CY2021 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-1669000 usd
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
6443000 usd
CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-113177000 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
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
45920000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
39477000 usd
CY2022 us-gaap Interest Paid Net
InterestPaidNet
2444000 usd
CY2022 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
728000 usd
CY2021 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
93000 usd
CY2022 GAN Intangible Assets Acquired In Business Acquisition
IntangibleAssetsAcquiredInBusinessAcquisition
24876000 usd
CY2022 GAN Accrued Liability Settled Through Issuance Of Shares
AccruedLiabilitySettledThroughIssuanceOfShares
913000 usd
CY2021 us-gaap Stock Issued1
StockIssued1
106683000 usd
CY2021 GAN Stock Issued Acquisition
StockIssuedAcquisition
297000 usd
CY2021 GAN Rightofuse Asset Obtained In Exchange For New Operating Lease Liabilities
RightofuseAssetObtainedInExchangeForNewOperatingLeaseLiabilities
252000 usd
CY2022 us-gaap Nature Of Operations
NatureOfOperations
<p id="xdx_807_eus-gaap--NatureOfOperations_zBolmaCKJff5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 1 — <span id="xdx_828_z2AFBXzkUlIh">NATURE OF OPERATIONS</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; 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; 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.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; 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; 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 by 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”). In addition, the Company’s B2B segment offers GAN Sports, an in-house online and retail sports betting technology platform, through internet connected self-service kiosks deployed at casino properties and mobile solutions. The Company is also a business-to-consumer (“B2C”) developer and operator of an online sports betting and casino platform under its “Coolbet” brand, providing international users with access through www.coolbet.com to its sportsbook, casino games and poker products. The Company operates its B2C segment in markets across Northern Europe, Latin America, and Canada.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2022Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-274900000 usd
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
45900000 usd
CY2022Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
10700000 usd
CY2022 us-gaap Net Income Loss
NetIncomeLoss
-197500000 usd
CY2022 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
136900000 usd
CY2022 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
19100000 usd
CY2022 us-gaap Capitalized Computer Software Impairments1
CapitalizedComputerSoftwareImpairments1
10000000.0 usd
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-1200000 usd
CY2022Q2 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
30000.0 usd
CY2022Q2 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
27600000 usd
CY2022 us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_84F_eus-gaap--UseOfEstimates_zZ2DpwUYyuD4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_862_zOg0GhuRuBB8">Use of Estimates</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; 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; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of the 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 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; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2022 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
969000 usd
CY2021 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
993000 usd
CY2022 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p id="xdx_847_eus-gaap--ConcentrationRiskCreditRisk_zxKKBhfQCTaj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_863_z6IZVTfGdxJi">Concentration of Credit Risk</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; 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; 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. The Company holds cash deposits in foreign countries, primarily in Northern Europe and Latin America, of approximately $<span id="xdx_900_eus-gaap--CashFDICInsuredAmount_iI_pn5n6_c20221231_znYS922xz9e9" title="Insured amount">36.8</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; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2022Q4 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
36800000 usd
CY2022Q4 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
3900000 usd
CY2021Q4 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
3900000 usd
CY2022Q4 GAN Amounts Due To Customers Current
AmountsDueToCustomersCurrent
1628000 usd
CY2021Q4 GAN Amounts Due To Customers Current
AmountsDueToCustomersCurrent
2171000 usd
CY2022Q4 GAN Number Of Third Party Gaming Products Available
NumberOfThirdPartyGamingProductsAvailable
3000 integer
CY2022Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
10683000 usd
CY2021Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
8984000 usd
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
120000 usd
CY2020Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
100000 usd
CY2022 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
-34000 usd
CY2021 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
246000 usd
CY2022 GAN Allowance For Doubtful Accounts Receivable Write Offs And Recoveries
AllowanceForDoubtfulAccountsReceivableWriteOffsAndRecoveries
164000 usd
CY2021 GAN Allowance For Doubtful Accounts Receivable Write Offs And Recoveries
AllowanceForDoubtfulAccountsReceivableWriteOffsAndRecoveries
-226000 usd
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
250000 usd
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
120000 usd
us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
28900000 usd
CY2022 us-gaap Goodwill Impairment Loss Net Of Tax
GoodwillImpairmentLossNetOfTax
108000000.0 usd
CY2022 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
136900000 usd
CY2021 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 usd
CY2021 GAN Segment Contribution
SegmentContribution
82790000 usd
CY2022 GAN Payment Of Content Licensing Liability Fixed Fees
PaymentOfContentLicensingLiabilityFixedFees
10000000.0 usd
CY2022 GAN Business Combination Consideration Transferred Future Fixed Payments
BusinessCombinationConsiderationTransferredFutureFixedPayments
18808000 usd
CY2022 GAN Business Combination Consideration Transferred Assets Recognized
BusinessCombinationConsiderationTransferredAssetsRecognized
3067000 usd
CY2022 us-gaap Business Combination Consideration Transferred Liabilities Incurred
BusinessCombinationConsiderationTransferredLiabilitiesIncurred
3000000 usd
CY2022 us-gaap Business Combination Consideration Transferred1
BusinessCombinationConsiderationTransferred1
24875000 usd
CY2022Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets
24875000 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
6449000 usd
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
4989000 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
3599000 usd
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
2444000 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2850000 usd
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2545000 usd
CY2022 us-gaap Depreciation
Depreciation
1427000 usd
CY2021 us-gaap Depreciation
Depreciation
989000 usd
CY2022Q4 GAN Capitalized Computer Software Gross Excluding Development In Progress
CapitalizedComputerSoftwareGrossExcludingDevelopmentInProgress
6857000 usd
CY2021Q4 GAN Capitalized Computer Software Gross Excluding Development In Progress
CapitalizedComputerSoftwareGrossExcludingDevelopmentInProgress
26127000 usd
CY2022Q4 GAN Capitalized Computer Software In Progress Development
CapitalizedComputerSoftwareInProgressDevelopment
732000 usd
CY2021Q4 GAN Capitalized Computer Software In Progress Development
CapitalizedComputerSoftwareInProgressDevelopment
5910000 usd
CY2022Q4 us-gaap Capitalized Computer Software Gross
CapitalizedComputerSoftwareGross
7589000 usd
CY2021Q4 us-gaap Capitalized Computer Software Gross
CapitalizedComputerSoftwareGross
32037000 usd
CY2022Q4 us-gaap Capitalized Computer Software Accumulated Amortization
CapitalizedComputerSoftwareAccumulatedAmortization
840000 usd
CY2021Q4 us-gaap Capitalized Computer Software Accumulated Amortization
CapitalizedComputerSoftwareAccumulatedAmortization
17607000 usd
CY2022Q4 us-gaap Capitalized Computer Software Net
CapitalizedComputerSoftwareNet
6749000 usd
CY2021Q4 us-gaap Capitalized Computer Software Net
CapitalizedComputerSoftwareNet
14430000 usd
CY2022 us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
6166000 usd
CY2021 us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
3444000 usd
CY2021Q4 us-gaap Goodwill
Goodwill
146142000 usd
CY2022 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
136905000 usd
CY2022 us-gaap Goodwill Translation And Purchase Accounting Adjustments
GoodwillTranslationAndPurchaseAccountingAdjustments
9237000 usd
us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
28900000 usd
CY2022 us-gaap Goodwill Impairment Loss Net Of Tax
GoodwillImpairmentLossNetOfTax
108000000.0 usd
CY2022 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
136900000 usd
CY2021 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
48727000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
23772000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
24955000 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
CY2022 us-gaap Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
P5Y
CY2022 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
15581000 usd
CY2021 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
12289000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
13455000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
2986000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
2837000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
2408000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
1670000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
1599000 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
CY2022Q4 us-gaap Deferred Finance Costs Gross
DeferredFinanceCostsGross
2400000 usd
CY2022Q4 us-gaap Line Of Credit
LineOfCredit
27600000 usd
CY2022Q4 us-gaap Debt Instrument Interest Rate Effective Percentage
DebtInstrumentInterestRateEffectivePercentage
0.1463 pure
CY2022Q4 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
30000000 usd
CY2022Q4 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
-1843000 usd
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R71.htm Edgar Link pending
R72.htm Edgar Link pending
R73.htm Edgar Link pending
R74.htm Edgar Link pending
R75.htm Edgar Link pending
R76.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
FilingSummary.xml Edgar Link unprocessable