2023 Q2 Form 10-Q Financial Statement

#000149315223016222 Filed on May 10, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q1
Revenue $33.76M $35.13M $37.49M
YoY Change -3.46% -6.31% 34.67%
Cost Of Revenue $9.485M $10.16M $11.70M
YoY Change -9.35% -13.15% 34.17%
Gross Profit $24.27M $24.97M $25.79M
YoY Change -0.94% -3.2% 34.91%
Gross Profit Margin 71.9% 71.08% 68.8%
Selling, General & Admin $17.35M $17.19M $15.49M
YoY Change -17.19% 10.97% 9.78%
% of Gross Profit 71.49% 68.85% 60.05%
Research & Development $11.24M $9.578M $8.954M
YoY Change 116.62% 6.97% 84.62%
% of Gross Profit 46.3% 38.36% 34.71%
Depreciation & Amortization $371.0K $365.0K $4.413M
YoY Change -94.34% -91.73% 11.36%
% of Gross Profit 1.53% 1.46% 17.11%
Operating Expenses $17.35M $17.19M $28.86M
YoY Change -17.19% -40.43% 104.51%
Operating Profit -$8.561M -$6.001M -$3.063M
YoY Change -77.33% 95.92% -19.44%
Interest Expense $905.0K $1.716M $9.000K
YoY Change -16.2% 18966.67%
% of Operating Profit
Other Income/Expense, Net -$8.358M $9.292M
YoY Change -3195.56%
Pretax Income -$17.82M $1.575M -$4.113M
YoY Change -53.8% -138.29% 8.24%
Income Tax $585.0K $74.00K $386.0K
% Of Pretax Income 4.7%
Net Earnings -$18.41M $1.501M -$4.499M
YoY Change -52.0% -133.36% -19.8%
Net Earnings / Revenue -54.53% 4.27% -12.0%
Basic Earnings Per Share -$0.42 $0.03 -$0.11
Diluted Earnings Per Share -$0.42 $0.03 -$106.5K
COMMON SHARES
Basic Shares Outstanding 44.68M shares 43.14M shares 42.25M shares
Diluted Shares Outstanding 44.15M shares 47.20M shares 42.25M shares

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $43.39M $40.76M $33.58M
YoY Change -11.59% 21.36% -35.66%
Cash & Equivalents $43.40M $40.80M $33.58M
Short-Term Investments
Other Short-Term Assets $3.454M $3.111M $7.763M
YoY Change 34.19% -59.93% 126.79%
Inventory
Prepaid Expenses $3.933M $5.333M
Receivables $10.15M $13.87M $7.840M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $60.93M $63.07M $49.19M
YoY Change -9.54% 28.23% -30.09%
LONG-TERM ASSETS
Property, Plant & Equipment $3.187M $2.781M
YoY Change 30.99%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $5.123M $3.642M $9.691M
YoY Change 13.49% -62.42% 146.84%
Total Long-Term Assets $34.06M $33.57M $201.5M
YoY Change -80.94% -83.34% -3.42%
TOTAL ASSETS
Total Short-Term Assets $60.93M $63.07M $49.19M
Total Long-Term Assets $34.06M $33.57M $201.5M
Total Assets $94.98M $96.64M $250.7M
YoY Change -61.39% -61.45% -10.15%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.815M $5.603M $5.775M
YoY Change -23.18% -2.98% 33.4%
Accrued Expenses $13.45M $10.61M $12.27M
YoY Change 302.36% -13.54% 178.07%
Deferred Revenue $8.834M $9.663M
YoY Change 1449.82%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $32.27M $30.99M $30.02M
YoY Change 17.64% 3.23% 16.69%
LONG-TERM LIABILITIES
Long-Term Debt $39.77M $28.48M $0.00
YoY Change 43.73%
Other Long-Term Liabilities $3.253M $2.058M $1.880M
YoY Change 140.25% 9.47% 236.31%
Total Long-Term Liabilities $3.253M $2.058M $1.880M
YoY Change 140.25% 9.47% 236.31%
TOTAL LIABILITIES
Total Short-Term Liabilities $32.27M $30.99M $30.02M
Total Long-Term Liabilities $3.253M $2.058M $1.880M
Total Liabilities $85.05M $72.03M $33.66M
YoY Change 10.43% 114.01% 18.28%
SHAREHOLDERS EQUITY
Retained Earnings -$291.8M -$273.4M
YoY Change 142.74%
Common Stock $334.4M $330.8M
YoY Change 2.81%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $9.939M $24.61M $217.0M
YoY Change
Total Liabilities & Shareholders Equity $94.98M $96.64M $250.7M
YoY Change -61.39% -61.45% -10.15%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q1
OPERATING ACTIVITIES
Net Income -$18.41M $1.501M -$4.499M
YoY Change -52.0% -133.36% -19.8%
Depreciation, Depletion And Amortization $371.0K $365.0K $4.413M
YoY Change -94.34% -91.73% 11.36%
Cash From Operating Activities $2.827M -$4.175M -$2.024M
YoY Change -230.7% 106.27% -51.17%
INVESTING ACTIVITIES
Capital Expenditures $1.807M $254.0K -$3.988M
YoY Change -159.79% -106.37% -1036.15%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change -100.0% -100.0%
Cash From Investing Activities -$1.807M -$1.762M -$3.988M
YoY Change -78.8% -55.82% -95.8%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.294M -$47.00K
YoY Change -95.2%
NET CHANGE
Cash From Operating Activities 2.827M -$4.175M -2.024M
Cash From Investing Activities -1.807M -$1.762M -3.988M
Cash From Financing Activities 1.294M -$47.00K
Net Change In Cash 2.314M -$5.165M $0.00
YoY Change -85.79% -100.0%
FREE CASH FLOW
Cash From Operating Activities $2.827M -$4.175M -$2.024M
Capital Expenditures $1.807M $254.0K -$3.988M
Free Cash Flow $1.020M -$4.429M $1.964M
YoY Change 18.74% -325.51% -142.97%

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CY2023Q1 us-gaap Share Based Compensation
ShareBasedCompensation
1362000 usd
CY2022Q1 us-gaap Share Based Compensation
ShareBasedCompensation
1222000 usd
CY2023Q1 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
9292000 usd
CY2023Q1 GAN Deferred Income Tax
DeferredIncomeTax
-194000 usd
CY2023Q1 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
181000 usd
CY2023Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-143000 usd
CY2022Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-237000 usd
CY2023Q1 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
404000 usd
CY2022Q1 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
670000 usd
CY2023Q1 us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
32000 usd
CY2022Q1 us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
267000 usd
CY2023Q1 us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
-39000 usd
CY2022Q1 us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
-238000 usd
CY2023Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-916000 usd
CY2022Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
591000 usd
CY2023Q1 us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
-7000 usd
CY2022Q1 us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
-2885000 usd
CY2023Q1 GAN Increase Decrease In Accrued Content License Fees
IncreaseDecreaseInAccruedContentLicenseFees
-498000 usd
CY2023Q1 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-1213000 usd
CY2022Q1 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
22000 usd
CY2023Q1 us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
660000 usd
CY2022Q1 us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
-183000 usd
CY2023Q1 us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
331000 usd
CY2022Q1 us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
-243000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-4175000 usd
CY2022Q1 us-gaap Payments To Develop Software
PaymentsToDevelopSoftware
3543000 usd
CY2023Q1 us-gaap Payments To Acquire Other Productive Assets
PaymentsToAcquireOtherProductiveAssets
165000 usd
CY2022Q1 us-gaap Payments To Acquire Other Productive Assets
PaymentsToAcquireOtherProductiveAssets
16000 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-2024000 usd
CY2023Q1 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
30000000 usd
CY2023Q1 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
-1517000 usd
CY2023Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
254000 usd
CY2022Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
429000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1762000 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-3988000 usd
CY2023Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
65000 usd
CY2023Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
112000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-47000 usd
CY2023Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
819000 usd
CY2022Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
118000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-5165000 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-5894000 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
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
40755000 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
33583000 usd
CY2023Q1 us-gaap Interest Paid Net
InterestPaidNet
1068000 usd
CY2022Q1 us-gaap Interest Paid Net
InterestPaidNet
2444000 usd
CY2023Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
36000 usd
CY2022Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
728000 usd
CY2022Q1 GAN Intangible Assets Acquired In Business Acquisition
IntangibleAssetsAcquiredInBusinessAcquisition
24876000 usd
CY2022Q1 GAN Accrued Liability Settled Through Issuance Of Shares
AccruedLiabilitySettledThroughIssuanceOfShares
913000 usd
CY2023Q1 us-gaap Nature Of Operations
NatureOfOperations
<p id="xdx_807_eus-gaap--NatureOfOperations_zBNiClqDNvrh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 1 </b>— <b><span id="xdx_82F_zvMgIWzQZTOh">NATURE OF OPERATIONS</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><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 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.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><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 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 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 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"/></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2023Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-273400000 usd
CY2023Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
40800000 usd
CY2023Q1 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
9663000 usd
CY2023Q1 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
30000000.0 usd
CY2023Q1 us-gaap Long Term Debt
LongTermDebt
28483000 usd
CY2023Q1 us-gaap Interest Expense Debt
InterestExpenseDebt
1394000 usd
CY2023Q1 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
326000 usd
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
3447155 shares
CY2023Q1 us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_84A_eus-gaap--UseOfEstimates_z7s28a5qiks8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_868_zEH5VJ5YcUq1">Use of Estimates</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 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 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 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2023Q1 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
624000 usd
CY2022Q1 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
867000 usd
CY2023Q1 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p id="xdx_840_eus-gaap--ConcentrationRiskCreditRisk_zPtE0bPps3Gk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_863_znNceaD4SYC6">Concentration of Credit Risk</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><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 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. The Company holds cash deposits in foreign countries, primarily in Northern Europe and Latin America, of approximately $<span id="xdx_90F_eus-gaap--Deposits_iI_pn5n6_c20230331__srt--StatementGeographicalAxis__custom--NorthernEuropeAndLatinAmericaMember_zTQc6YgCRie" title="Cash deposits">36.9</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 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"/></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"/> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"/> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"/> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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: 0pt 0; 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: 0pt 0; 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: 0pt 0"> </p>
CY2023Q1 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
9700000 usd
CY2023Q1 GAN Amounts Due To Customers Current
AmountsDueToCustomersCurrent
1582000 usd
CY2022Q4 GAN Amounts Due To Customers Current
AmountsDueToCustomersCurrent
1628000 usd
CY2023Q1 GAN Number Of Third Party Gaming Products Available
NumberOfThirdPartyGamingProductsAvailable
4700 integer
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
9.12
CY2023Q1 GAN Weighted Average Contractual Term Outstanding Beginning
WeightedAverageContractualTermOutstandingBeginning
P6Y7M2D
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
1139000 usd
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
367870 shares
CY2023Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0.01
CY2023Q1 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
9663000 usd
CY2022Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
10683000 usd
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
245151 shares
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
14.31
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
3569874 shares
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
7.83
CY2022Q2 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
30000000.0 usd
CY2023Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
6793000 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
6449000 usd
CY2023Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
4012000 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
3599000 usd
CY2023Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2781000 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2850000 usd
CY2023Q1 us-gaap Depreciation
Depreciation
365000 usd
CY2022Q1 us-gaap Depreciation
Depreciation
310000 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
CY2023Q1 GAN Capitalized Computer Software Gross Excluding Development In Progress
CapitalizedComputerSoftwareGrossExcludingDevelopmentInProgress
8588000 usd
CY2022Q4 GAN Capitalized Computer Software Gross Excluding Development In Progress
CapitalizedComputerSoftwareGrossExcludingDevelopmentInProgress
6857000 usd
CY2023Q1 GAN Capitalized Computer Software In Progress Development
CapitalizedComputerSoftwareInProgressDevelopment
514000 usd
CY2022Q4 GAN Capitalized Computer Software In Progress Development
CapitalizedComputerSoftwareInProgressDevelopment
732000 usd
CY2023Q1 us-gaap Capitalized Computer Software Gross
CapitalizedComputerSoftwareGross
9102000 usd
CY2022Q4 us-gaap Capitalized Computer Software Gross
CapitalizedComputerSoftwareGross
7589000 usd
CY2023Q1 us-gaap Capitalized Computer Software Accumulated Amortization
CapitalizedComputerSoftwareAccumulatedAmortization
1346000 usd
CY2022Q4 us-gaap Capitalized Computer Software Accumulated Amortization
CapitalizedComputerSoftwareAccumulatedAmortization
840000 usd
CY2023Q1 us-gaap Capitalized Computer Software Net
CapitalizedComputerSoftwareNet
7756000 usd
CY2022Q4 us-gaap Capitalized Computer Software Net
CapitalizedComputerSoftwareNet
6749000 usd
CY2023Q1 us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
486000 usd
CY2022Q1 us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
1162000 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
49809000 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
27642000 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
22167000 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
CY2023Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
3349000 usd
CY2022Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
2920000 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
10351000 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
3072000 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
2921000 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
2490000 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
1709000 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
1624000 usd
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
27600000 usd
CY2023Q1 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
30000000.0 usd
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y10M9D
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
1356000 usd
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
2402269 shares
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
7.87
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P5Y11M12D
CY2023Q1 us-gaap Debt Instrument Interest Rate Effective Percentage
DebtInstrumentInterestRateEffectivePercentage
0.1546 pure
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
436000 usd
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
1.70
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
6.12
CY2022Q1 us-gaap Restructuring Costs
RestructuringCosts
1059000 usd
CY2023Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
4201000 usd
CY2022Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
4413000 usd
CY2023Q1 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-1716000 usd
CY2022Q1 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
9000 usd
CY2023Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
9292000 usd
CY2023Q1 us-gaap Income Loss Attributable To Parent
IncomeLossAttributableToParent
1575000 usd
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.6120 pure
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0174 pure
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
CY2023Q1 us-gaap Defined Contribution Plan Employer Matching Contribution Percent Of Match
DefinedContributionPlanEmployerMatchingContributionPercentOfMatch
0.50 pure
CY2023Q1 us-gaap Defined Contribution Plan Maximum Annual Contributions Per Employee Percent
DefinedContributionPlanMaximumAnnualContributionsPerEmployeePercent
0.04 pure
CY2023Q1 us-gaap Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
178000 usd
CY2022Q1 us-gaap Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
173000 usd
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
1501000 usd
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-4499000 usd
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
42982255 shares
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
42252661 shares
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
47200182 shares
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
42252661 shares
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.03
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.11
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.03
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.11
CY2022Q1 us-gaap Income Loss Attributable To Parent
IncomeLossAttributableToParent
-4113000 usd
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
35129000 usd
CY2022Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
37494000 usd
CY2022Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
2117000 usd
CY2021Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
1874000 usd
CY2023Q1 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
2655000 usd
CY2023Q1 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
223000 usd
CY2022Q1 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
296000 usd
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
35129000 usd
CY2022Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
37494000 usd
CY2023Q1 us-gaap Cost Of Goods And Service Excluding Depreciation Depletion And Amortization
CostOfGoodsAndServiceExcludingDepreciationDepletionAndAmortization
10161000 usd
CY2022Q1 us-gaap Cost Of Goods And Service Excluding Depreciation Depletion And Amortization
CostOfGoodsAndServiceExcludingDepreciationDepletionAndAmortization
11700000 usd
CY2023Q1 GAN Segment Contribution
SegmentContribution
24968000 usd
CY2022Q1 GAN Segment Contribution
SegmentContribution
25794000 usd
CY2023Q1 GAN Segment Contribution
SegmentContribution
24968000 usd
CY2022Q1 GAN Segment Contribution
SegmentContribution
25794000 usd
CY2023Q1 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
7184000 usd
CY2022Q1 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
6098000 usd
CY2023Q1 GAN Product And Technology Expense
ProductAndTechnologyExpense
9578000 usd
CY2022Q1 GAN Product And Technology Expense
ProductAndTechnologyExpense
8954000 usd
CY2023Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
10006000 usd
CY2022Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
9392000 usd
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
35129000 usd
CY2022Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
37494000 usd
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
35129000 usd
CY2022Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
37494000 usd
CY2023Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.047 pure
CY2022Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.094 pure
CY2023Q1 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0 pure
CY2023Q1 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
2.00
CY2023Q1 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
30000000.0 usd

Files In Submission

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gan-20230331_cal.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable
0001493152-23-016222-index-headers.html Edgar Link pending
0001493152-23-016222-index.html Edgar Link pending
0001493152-23-016222.txt Edgar Link pending
0001493152-23-016222-xbrl.zip Edgar Link pending
ex31-1.htm Edgar Link pending
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Financial_Report.xlsx Edgar Link pending
form10-q.htm Edgar Link pending
gan-20230331.xsd Edgar Link pending
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gan-20230331_pre.xml Edgar Link unprocessable
gan-20230331_lab.xml Edgar Link unprocessable
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form10-q_htm.xml Edgar Link completed
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