$GAN
GAN Ltd

2024 Q4 Form 10-Q Financial Statement

#000149315224044300 Filed on November 08, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3
Revenue $37.10M
YoY Change 24.42%
Cost Of Revenue $9.920M
YoY Change 7.36%
Gross Profit $27.18M
YoY Change 32.06%
Gross Profit Margin 73.26%
Selling, General & Admin $14.60M
YoY Change 2.42%
% of Gross Profit 53.72%
Research & Development $8.467M
YoY Change -7.46%
% of Gross Profit 31.15%
Depreciation & Amortization $385.0K
YoY Change -15.01%
% of Gross Profit 1.42%
Operating Expenses $14.60M
YoY Change 2.42%
Operating Profit $2.132M
YoY Change -129.74%
Interest Expense $1.160M
YoY Change -8.23%
% of Operating Profit 54.41%
Other Income/Expense, Net
YoY Change
Pretax Income $972.0K
YoY Change -111.52%
Income Tax -$1.111M
% Of Pretax Income -114.3%
Net Earnings $2.083M
YoY Change -125.53%
Net Earnings / Revenue 5.61%
Basic Earnings Per Share $0.05
Diluted Earnings Per Share $0.04
COMMON SHARES
Basic Shares Outstanding 45.57M shares 45.47M shares
Diluted Shares Outstanding 48.89M shares

Balance Sheet

Concept 2024 Q4 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $36.48M
YoY Change -6.94%
Cash & Equivalents $36.48M
Short-Term Investments
Other Short-Term Assets $4.225M
YoY Change 3.4%
Inventory
Prepaid Expenses $2.743M
Receivables $12.04M
Other Receivables $0.00
Total Short-Term Assets $55.48M
YoY Change -0.51%
LONG-TERM ASSETS
Property, Plant & Equipment $3.349M
YoY Change 11.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $5.004M
YoY Change -3.57%
Total Long-Term Assets $27.14M
YoY Change -17.48%
TOTAL ASSETS
Total Short-Term Assets $55.48M
Total Long-Term Assets $27.14M
Total Assets $82.63M
YoY Change -6.8%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.990M
YoY Change 28.28%
Accrued Expenses $10.34M
YoY Change -13.1%
Deferred Revenue $10.11M
YoY Change 6.77%
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $31.88M
YoY Change -1.82%
LONG-TERM LIABILITIES
Long-Term Debt $45.71M
YoY Change 11.22%
Other Long-Term Liabilities $5.152M
YoY Change 105.42%
Total Long-Term Liabilities $5.152M
YoY Change 105.42%
TOTAL LIABILITIES
Total Short-Term Liabilities $31.88M
Total Long-Term Liabilities $5.152M
Total Liabilities $88.38M
YoY Change 2.01%
SHAREHOLDERS EQUITY
Retained Earnings -$313.1M
YoY Change 4.4%
Common Stock $339.4M
YoY Change 1.08%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$5.754M
YoY Change
Total Liabilities & Shareholders Equity $82.63M
YoY Change -6.8%

Cashflow Statement

Concept 2024 Q4 2024 Q3
OPERATING ACTIVITIES
Net Income $2.083M
YoY Change -125.53%
Depreciation, Depletion And Amortization $385.0K
YoY Change -15.01%
Cash From Operating Activities -$771.0K
YoY Change -66.33%
INVESTING ACTIVITIES
Capital Expenditures $894.0K
YoY Change -25.5%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$894.0K
YoY Change -25.5%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000
YoY Change
NET CHANGE
Cash From Operating Activities -771.0K
Cash From Investing Activities -894.0K
Cash From Financing Activities 0.000
Net Change In Cash -1.665M
YoY Change -52.29%
FREE CASH FLOW
Cash From Operating Activities -$771.0K
Capital Expenditures $894.0K
Free Cash Flow -$1.665M
YoY Change -52.29%

Facts In Submission

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dei Entity Registrant Name
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GAN Limited
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
D0
dei Entity Address Address Line1
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10845 Griffith Peak Drive
dei Entity Address Address Line2
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Suite 200
dei Entity Address City Or Town
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Las Vegas
dei Entity Address State Or Province
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NV
dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
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dei City Area Code
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dei Document Type
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10-Q
dei Entity File Number
EntityFileNumber
001-39274
dei Trading Symbol
TradingSymbol
GAN
dei Security Exchange Name
SecurityExchangeName
NASDAQ
dei Entity Current Reporting Status
EntityCurrentReportingStatus
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dei Entity Interactive Data Current
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dei Entity Filer Category
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CY2024Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
831000 usd
CY2024Q2 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
3000 usd
CY2024Q2 us-gaap Stockholders Equity
StockholdersEquity
-10151000 usd
CY2024Q3 us-gaap Net Income Loss
NetIncomeLoss
2083000 usd
CY2024Q3 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
1369000 usd
CY2024Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1028000 usd
CY2024Q3 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
2000 usd
CY2024Q3 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
85000 usd
CY2024Q3 us-gaap Stockholders Equity
StockholdersEquity
-5754000 usd
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
20768000 usd
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
1501000 usd
CY2023Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
966000 usd
CY2023Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1382000 usd
CY2023Q1 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
4000 usd
CY2023Q1 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
79000 usd
CY2023Q1 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
65000 usd
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
24607000 usd
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-18409000 usd
CY2023Q2 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
155000 usd
CY2023Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1621000 usd
CY2023Q2 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
2000 usd
CY2023Q2 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
1963000 usd
CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
9939000 usd
CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
9939000 usd
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
-8160000 usd
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
-8160000 usd
CY2023Q3 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-1142000 usd
CY2023Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1386000 usd
CY2023Q3 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
-3000 usd
CY2023Q3 us-gaap Stockholders Equity
StockholdersEquity
2020000 usd
CY2023Q3 us-gaap Stockholders Equity
StockholdersEquity
2020000 usd
us-gaap Net Income Loss
NetIncomeLoss
-3808000 usd
us-gaap Net Income Loss
NetIncomeLoss
-25068000 usd
GAN Amortization Of Software And Intangible Assets
AmortizationOfSoftwareAndIntangibleAssets
4547000 usd
GAN Amortization Of Software And Intangible Assets
AmortizationOfSoftwareAndIntangibleAssets
11594000 usd
GAN Depreciation On Property And Equipment And Finance Lease Rightofuse Assets
DepreciationOnPropertyAndEquipmentAndFinanceLeaseRightofuseAssets
1184000 usd
GAN Depreciation On Property And Equipment And Finance Lease Rightofuse Assets
DepreciationOnPropertyAndEquipmentAndFinanceLeaseRightofuseAssets
1188000 usd
GAN Noncash Interest And Amortization Of Debt Discount And Debt Issuance Costs
NoncashInterestAndAmortizationOfDebtDiscountAndDebtIssuanceCosts
3522000 usd
GAN Noncash Interest And Amortization Of Debt Discount And Debt Issuance Costs
NoncashInterestAndAmortizationOfDebtDiscountAndDebtIssuanceCosts
2845000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
2716000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
4699000 usd
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
9717000 usd
GAN Loss On Extinguishment Of Debt
LossOnExtinguishmentOfDebt
8784000 usd
GAN Deferred Income Tax
DeferredIncomeTax
-1158000 usd
GAN Deferred Income Tax
DeferredIncomeTax
-117000 usd
GAN Fair Value Adjustment Related To Synthetic Equity
FairValueAdjustmentRelatedToSyntheticEquity
-288000 usd
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
6000 usd
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
102000 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
2300000 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-4791000 usd
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
-645000 usd
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
-1560000 usd
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
971000 usd
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
1053000 usd
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
-563000 usd
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
4452000 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-46000 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-996000 usd
us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
-414000 usd
us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
859000 usd
GAN Increase Decrease In Accrued Content License Fees
IncreaseDecreaseInAccruedContentLicenseFees
-646000 usd
GAN Increase Decrease In Accrued Content License Fees
IncreaseDecreaseInAccruedContentLicenseFees
-645000 usd
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-178000 usd
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-1158000 usd
us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
-2267000 usd
us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
2043000 usd
us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
-1245000 usd
us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
1593000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
138000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-3640000 usd
us-gaap Payments To Develop Software
PaymentsToDevelopSoftware
1620000 usd
us-gaap Payments To Develop Software
PaymentsToDevelopSoftware
2753000 usd
us-gaap Payments To Acquire Other Productive Assets
PaymentsToAcquireOtherProductiveAssets
279000 usd
us-gaap Payments To Acquire Other Productive Assets
PaymentsToAcquireOtherProductiveAssets
412000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
350000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1607000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-2249000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-4772000 usd
GAN Repurchase Of Restricted Shares To Pay Tax Liability
RepurchaseOfRestrictedSharesToPayTaxLiability
3000 usd
GAN Repurchase Of Restricted Shares To Pay Tax Liability
RepurchaseOfRestrictedSharesToPayTaxLiability
-409000 usd
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
4733000 usd
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
3137000 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
66000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
3000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1253000 usd
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
9000 usd
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
451000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-2099000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-6708000 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
38578000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
45920000 usd
CY2024Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
36479000 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
39212000 usd
us-gaap Interest Paid Net
InterestPaidNet
1068000 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
125000 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
184000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
4471000 usd
GAN Contract Asset And Contingent Liability Related To Synthetic Equity
ContractAssetAndContingentLiabilityRelatedToSyntheticEquity
1143000 usd
us-gaap Nature Of Operations
NatureOfOperations
<p id="xdx_806_eus-gaap--NatureOfOperations_zoPV3FoFh7Ol" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 1 </b>— <b><span id="xdx_822_zlqxfzPWyM5d">NATURE OF OPERATIONS</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 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-top: 0pt; margin-bottom: 0pt; margin-left: 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-top: 0pt; margin-bottom: 0pt; margin-left: 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-top: 0pt; margin-bottom: 0pt; margin-left: 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On November 7, 2023, the Company entered into an Agreement and Plan of Merger (the “Merger Agreement”) with SEGA SAMMY CREATION INC., a Japanese corporation (“SEGA SAMMY CREATION”), and Arc Bermuda Limited, a Bermuda exempted company limited by shares and a wholly-owned subsidiary of SEGA SAMMY CREATION (“Merger Sub”), pursuant to which, subject to the satisfaction or waiver of the conditions set forth therein, Merger Sub will be merged with and into the Company, with the Company surviving the merger as a wholly-owned subsidiary of SEGA SAMMY CREATION (the “Merger”). SEGA SAMMY CREATION and Merger Sub are affiliates of SEGA SAMMY HOLDINGS, INC.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pursuant to the Merger Agreement, and upon the terms and subject to the conditions thereof, at the effective time of the Merger, and as a result of the Merger (and without any action on the part of SEGA SAMMY CREATION, Merger Sub, the Company or any holder thereof):</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 8pt; text-align: justify; text-indent: 9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; padding: 0.25pt; vertical-align: top; width: 0.25in; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding: 0.25pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">each of the Company’s ordinary shares issued immediately prior to the effective time of the Merger (other than shares held by SEGA SAMMY CREATION or Merger Sub, by the Company as a treasury share or by any person who properly asserts dissenters’ rights under Bermuda law) will be converted into the right to receive an amount in cash equal to $<span id="xdx_905_eus-gaap--SharePrice_iI_pid_c20231107__us-gaap--TypeOfArrangementAxis__custom--MergerConsiderationMember_zGSS76amFB8c" title="Share price">1.97</span> per share, without interest and subject to any applicable tax withholding (the “Merger Consideration”);</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; padding: 0.25pt; vertical-align: top; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding: 0.25pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; padding: 0.25pt; vertical-align: top; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding: 0.25pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">each of the Company’s outstanding restricted shares (whether vested or unvested) at the time of the Merger will become vested in full and non-forfeitable and will be converted into the right to receive the Merger Consideration;</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; padding: 0.25pt; vertical-align: top; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding: 0.25pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; padding: 0.25pt; vertical-align: top; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding: 0.25pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">each of the Company’s outstanding restricted share units (whether vested or unvested) at the effective time of the Merger will become vested in full and will be automatically cancelled in exchange for the right to receive a single lump sum cash payment, without interest and subject to any applicable tax withholding, equal to the product of (a) the Merger Consideration and (b) the number of Company ordinary shares subject to such restricted share unit; and</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; padding: 0.25pt; vertical-align: top; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding: 0.25pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; padding: 0.25pt; vertical-align: top; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding: 0.25pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">each of the Company’s outstanding options to acquire the Company ordinary shares (whether vested or unvested) at the effective time of the Merger will become vested in full and will be automatically cancelled in exchange for the right to receive a single lump sum cash payment, without interest and subject to any applicable tax withholding, equal to the product of (a) the excess, if any, of the Merger Consideration over the exercise price per share of the option and (b) the number of Company ordinary shares issuable upon the exercise in full of such option.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consummation of the Merger is not subject to a financing condition, but is subject to customary closing conditions, including (a) approval by the Company’s shareholders of the Merger Agreement, the Merger and the Statutory Merger Agreement, (b) receipt of applicable antitrust and CFIUS approvals or the expiration of applicable waiting periods, (c) absence of any order or injunction prohibiting the consummation of the Merger and (d) the accuracy of the Company’s representations and warranties contained in the Merger Agreement (subject to certain customary qualifications) and compliance by the Company with its agreements and covenants contained in the Merger Agreement. The closing of the Merger is also predicated upon receipt of approval of the Merger and change in control of the Company by all relevant gaming authorities. The Company anticipates that this will take some time, and that the closing of the Merger may not occur until early 2025.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On February 13, 2024, the Company held a special general meeting of the shareholders of the Company to consider and vote upon the Merger Agreement, at which meeting the shareholders approved the Merger Agreement. Also, the waiting period under applicable antitrust laws expired on June 6, 2024, and on June 27, 2024, the Company received clearance under CFIUS.</span></p>
CY2024Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-313100000 usd
CY2024Q3 us-gaap Cash
Cash
36500000 usd
CY2024Q3 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
10100000 usd
CY2024Q3 us-gaap Net Income Loss
NetIncomeLoss
2100000 usd
us-gaap Net Income Loss
NetIncomeLoss
-3800000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
100000 usd
CY2022Q2 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
30000000.0 usd
CY2022Q2 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
27600000 usd
CY2023Q2 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
30000000.0 usd
CY2023Q2 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
42000000.0 usd
CY2023Q2 GAN Financial Covenant Requirement Minimum Liquidity
FinancialCovenantRequirementMinimumLiquidity
10000000.0 usd
us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_847_eus-gaap--UseOfEstimates_zn1NG3CBCRYj" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_862_zxK2RYF8eSA9">Use of Estimates</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 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-top: 0pt; margin-bottom: 0pt; margin-left: 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-top: 0pt; margin-bottom: 0pt; margin-left: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2024Q3 us-gaap Foreign Currency Transaction Loss Before Tax
ForeignCurrencyTransactionLossBeforeTax
485000 usd
CY2023Q3 us-gaap Foreign Currency Transaction Loss Before Tax
ForeignCurrencyTransactionLossBeforeTax
155000 usd
us-gaap Foreign Currency Transaction Loss Before Tax
ForeignCurrencyTransactionLossBeforeTax
1542000 usd
us-gaap Foreign Currency Transaction Loss Before Tax
ForeignCurrencyTransactionLossBeforeTax
1169000 usd
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p id="xdx_84B_eus-gaap--ConcentrationRiskCreditRisk_zNumWb0pHjui" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_866_zsMVimO5uf8l">Concentration of Credit Risk</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 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-top: 0pt; margin-bottom: 0pt; margin-left: 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_903_eus-gaap--Deposits_iI_pn5n6_c20240930__srt--StatementGeographicalAxis__custom--NorthernEuropeAndLatinAmericaMember_z4eYUIjLNh55" title="Cash deposits">28.1</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 historically sustained any credit losses from instruments held at these financial institutions. However, during the quarter ended September 30, 2024, the Company determined that there was a credit risk with a certain payment service provider (“PSP”) servicing the B2C segment in the amount of $<span id="xdx_90C_ecustom--CreditRiskAmount_iI_pn5n6_c20240930__us-gaap--BalanceSheetLocationAxis__us-gaap--OtherCurrentAssetsMember_zXXgtzTG5OVc" title="Credit risk amount">1.9</span> million which has been classified as other current assets at September 30, 2024.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"></p><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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-top: 0pt; margin-bottom: 0pt; margin-left: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2024Q3 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
41900000 usd
us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Explanation
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionExplanation
the Company expects to satisfy $30.1 million within the next five year period, and the remaining over a ten year period.
CY2024Q3 GAN Amounts Due To Customers Current
AmountsDueToCustomersCurrent
1913000 usd
CY2023Q4 GAN Amounts Due To Customers Current
AmountsDueToCustomersCurrent
1994000 usd
CY2024Q3 us-gaap Cash Cash Equivalents And Federal Funds Sold
CashCashEquivalentsAndFederalFundsSold
4000000.0 usd
CY2023Q4 us-gaap Cash Cash Equivalents And Federal Funds Sold
CashCashEquivalentsAndFederalFundsSold
3600000 usd
CY2024Q3 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
10108000 usd
CY2023Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
10185000 usd
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2 segment
CY2024Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
6562000 usd
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
7303000 usd
CY2024Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
3213000 usd
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
3144000 usd
CY2024Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3349000 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
4159000 usd
CY2024Q3 us-gaap Depreciation
Depreciation
385000 usd
CY2023Q3 us-gaap Depreciation
Depreciation
453000 usd
us-gaap Depreciation
Depreciation
1184000 usd
us-gaap Depreciation
Depreciation
1188000 usd
CY2024Q3 GAN Capitalized Computer Software Gross Excluding Development In Progress
CapitalizedComputerSoftwareGrossExcludingDevelopmentInProgress
12837000 usd
CY2023Q4 GAN Capitalized Computer Software Gross Excluding Development In Progress
CapitalizedComputerSoftwareGrossExcludingDevelopmentInProgress
10759000 usd
CY2024Q3 GAN Capitalized Computer Software In Progress Development
CapitalizedComputerSoftwareInProgressDevelopment
220000 usd
CY2023Q4 GAN Capitalized Computer Software In Progress Development
CapitalizedComputerSoftwareInProgressDevelopment
494000 usd
CY2024Q3 us-gaap Capitalized Computer Software Gross
CapitalizedComputerSoftwareGross
13057000 usd
CY2023Q4 us-gaap Capitalized Computer Software Gross
CapitalizedComputerSoftwareGross
11253000 usd
CY2024Q3 us-gaap Capitalized Computer Software Accumulated Amortization
CapitalizedComputerSoftwareAccumulatedAmortization
5024000 usd
CY2023Q4 us-gaap Capitalized Computer Software Accumulated Amortization
CapitalizedComputerSoftwareAccumulatedAmortization
2883000 usd
CY2024Q3 us-gaap Capitalized Computer Software Net
CapitalizedComputerSoftwareNet
8033000 usd
CY2023Q4 us-gaap Capitalized Computer Software Net
CapitalizedComputerSoftwareNet
8370000 usd
CY2024Q3 us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
714000 usd
CY2023Q3 us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
485000 usd
us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
2054000 usd
us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
1461000 usd
CY2024Q3 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
51729000 usd
CY2024Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
41514000 usd
CY2024Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
10215000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
50812000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
38454000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
12358000 usd
CY2024Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
881000 usd
CY2023Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
3401000 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
2494000 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
10134000 usd
CY2024Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
886000 usd
CY2024Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
3289000 usd
CY2024Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
2835000 usd
CY2024Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
2234000 usd
CY2024Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
950000 usd
CY2024Q3 GAN Finite Lived Intangible Assets Amortization Expense After Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFour
21000 usd
CY2024Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
10215000 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
CY2023Q2 us-gaap Payments Of Debt Extinguishment Costs
PaymentsOfDebtExtinguishmentCosts
7300000 usd
CY2023Q2 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
8800000 usd
CY2023Q2 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
30000000.0 usd
CY2023Q2 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
42000000.0 usd
CY2023Q2 us-gaap Line Of Credit Facility Interest Rate During Period
LineOfCreditFacilityInterestRateDuringPeriod
0.080 pure
CY2023Q2 GAN Debt Instrument Interest Rate For Exit Fee
DebtInstrumentInterestRateForExitFee
0.025 pure
CY2023Q2 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
3100000 usd
CY2023Q2 GAN Financial Covenant Requirement Minimum Liquidity
FinancialCovenantRequirementMinimumLiquidity
10000000.0 usd
CY2024Q3 us-gaap Debt Instrument Interest Rate Effective Percentage
DebtInstrumentInterestRateEffectivePercentage
0.1022 pure
CY2024Q3 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
47404000 usd
CY2024Q3 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
-1693000 usd
CY2024Q3 us-gaap Long Term Debt
LongTermDebt
45711000 usd
CY2024Q3 us-gaap Interest Expense Debt
InterestExpenseDebt
1213000 usd
CY2023Q3 us-gaap Interest Expense Debt
InterestExpenseDebt
1281000 usd
CY2024Q3 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
262000 usd
CY2023Q3 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
240000 usd
us-gaap Interest Expense Debt
InterestExpenseDebt
3522000 usd
us-gaap Interest Expense Debt
InterestExpenseDebt
3587000 usd
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
760000 usd
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
765000 usd
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2680190 shares
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
5.69
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y5M4D
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
1877000 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
134533 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0.01
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
15572 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0.01
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
314719 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
6.09
CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2484432 shares
CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
5.37
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y18D
CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
2284000 usd
CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
1843318 shares
CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
6.69
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P5Y3M
CY2024Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
1246000 usd
us-gaap Defined Contribution Plan Employer Matching Contribution Percent Of Match
DefinedContributionPlanEmployerMatchingContributionPercentOfMatch
0.50 pure
us-gaap Defined Contribution Plan Maximum Annual Contributions Per Employee Percent
DefinedContributionPlanMaximumAnnualContributionsPerEmployeePercent
0.04 pure
CY2024Q3 us-gaap Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
161000 usd
CY2023Q3 us-gaap Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
173000 usd
us-gaap Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
504000 usd
us-gaap Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
528000 usd
us-gaap Other Income
OtherIncome
-26000 usd
us-gaap Other Income
OtherIncome
-9718000 usd
GAN Other Loss
OtherLoss
-27000 usd
GAN Other Loss
OtherLoss
-8784000 usd
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-1000 usd
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
934000 usd
GAN Gain On Extinguishment Of Debt
GainOnExtinguishmentOfDebt
9700000 usd
GAN Increase Decrease In Content Licensing Liability Fixed Fees
IncreaseDecreaseInContentLicensingLiabilityFixedFees
15000000.0 usd
GAN Loss On Extinguishment Of Debt
LossOnExtinguishmentOfDebt
8800000 usd
CY2024Q3 us-gaap Net Income Loss
NetIncomeLoss
2083000 usd
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
-8160000 usd
us-gaap Net Income Loss
NetIncomeLoss
-3808000 usd
us-gaap Net Income Loss
NetIncomeLoss
-25068000 usd
CY2024Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
45478359 shares
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
44699951 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
45334921 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
43949594 shares
CY2024Q3 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
1331117 shares
CY2024Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
48887335 shares
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
44699951 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
45334921 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
43949594 shares
CY2024Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.05
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.18
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.08
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.57
CY2024Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.04
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.18
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.08
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.57
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4550629 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3619922 shares
CY2024Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
37098000 usd
CY2023Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
29817000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
103309000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
98704000 usd
CY2024Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
9000000 usd
CY2023Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
2607000 usd
CY2023Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
7873000 usd
CY2022Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
2117000 usd
CY2024Q3 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
5252000 usd
CY2023Q3 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
3039000 usd
CY2024Q3 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
5252000 usd
CY2023Q3 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
3039000 usd
CY2024Q3 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
4111000 usd
CY2023Q3 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
301000 usd
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
2447000 usd
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
686000 usd
CY2024Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
37098000 usd
CY2023Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
29817000 usd
CY2024Q3 us-gaap Cost Of Goods And Service Excluding Depreciation Depletion And Amortization
CostOfGoodsAndServiceExcludingDepreciationDepletionAndAmortization
9920000 usd
CY2023Q3 us-gaap Cost Of Goods And Service Excluding Depreciation Depletion And Amortization
CostOfGoodsAndServiceExcludingDepreciationDepletionAndAmortization
9242000 usd
CY2024Q3 GAN Segment Contribution
SegmentContribution
27178000 usd
CY2023Q3 GAN Segment Contribution
SegmentContribution
20575000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
103309000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
98704000 usd
us-gaap Cost Of Goods And Service Excluding Depreciation Depletion And Amortization
CostOfGoodsAndServiceExcludingDepreciationDepletionAndAmortization
29487000 usd
us-gaap Cost Of Goods And Service Excluding Depreciation Depletion And Amortization
CostOfGoodsAndServiceExcludingDepreciationDepletionAndAmortization
28888000 usd
GAN Segment Contribution
SegmentContribution
73822000 usd
GAN Segment Contribution
SegmentContribution
69816000 usd
CY2024Q3 GAN Segment Contribution
SegmentContribution
27178000 usd
CY2023Q3 GAN Segment Contribution
SegmentContribution
20575000 usd
GAN Segment Contribution
SegmentContribution
73822000 usd
GAN Segment Contribution
SegmentContribution
69816000 usd
CY2024Q3 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
6778000 usd
CY2023Q3 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
7196000 usd
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
19851000 usd
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
21704000 usd
CY2024Q3 GAN Product And Technology Expense
ProductAndTechnologyExpense
8467000 usd
CY2023Q3 GAN Product And Technology Expense
ProductAndTechnologyExpense
9150000 usd
GAN Product And Technology Expense
ProductAndTechnologyExpense
26220000 usd
GAN Product And Technology Expense
ProductAndTechnologyExpense
29966000 usd
CY2024Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
7823000 usd
CY2023Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
7060000 usd
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
22962000 usd
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
27095000 usd
CY2024Q3 us-gaap Depreciation And Amortization
DepreciationAndAmortization
1978000 usd
CY2023Q3 us-gaap Depreciation And Amortization
DepreciationAndAmortization
4339000 usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
5731000 usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
12783000 usd
CY2024Q3 us-gaap Interest Expense
InterestExpense
1160000 usd
CY2023Q3 us-gaap Interest Expense
InterestExpense
1264000 usd
us-gaap Interest Expense
InterestExpense
3449000 usd
us-gaap Interest Expense
InterestExpense
3885000 usd
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-1000 usd
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
934000 usd
CY2024Q3 us-gaap Income Loss Attributable To Parent
IncomeLossAttributableToParent
972000 usd
CY2023Q3 us-gaap Income Loss Attributable To Parent
IncomeLossAttributableToParent
-8434000 usd
us-gaap Income Loss Attributable To Parent
IncomeLossAttributableToParent
-4392000 usd
us-gaap Income Loss Attributable To Parent
IncomeLossAttributableToParent
-24683000 usd
CY2024Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
37098000 usd
CY2023Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
29817000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
103309000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
98704000 usd
CY2024Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
37098000 usd
CY2023Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
29817000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
103309000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
98704000 usd
CY2024Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
1.143 pure
CY2023Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.032 pure
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.133 pure
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.016 pure
CY2024Q3 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0 pure
CY2023Q3 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0 pure
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0 pure
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0 pure
CY2024Q3 us-gaap Short Term Lease Cost
ShortTermLeaseCost
92000 usd
CY2023Q3 us-gaap Short Term Lease Cost
ShortTermLeaseCost
66000 usd
CY2024Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
3892000 usd
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
4340000 usd
CY2024Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
965000 usd
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
804000 usd
CY2024Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
2953000 usd
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
3577000 usd
CY2024Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
3918000 usd
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
4381000 usd
CY2024Q3 GAN Operating Lease Right Of Use Asset Amortization
OperatingLeaseRightOfUseAssetAmortization
988000 usd
CY2023Q4 GAN Operating Lease Right Of Use Asset Amortization
OperatingLeaseRightOfUseAssetAmortization
378000 usd
CY2024Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
293000 usd
CY2023Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
266000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
861000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
523000 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
304000 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
1220000 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
1220000 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
1220000 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
680000 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
4644000 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
726000 usd
CY2024Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
3918000 usd
CY2024Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y9M18D
CY2023Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y9M18D
CY2024Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.090 pure
CY2023Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.090 pure
us-gaap Operating Lease Payments
OperatingLeasePayments
873000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
432000 usd
us-gaap Extinguishment Of Debt Amount
ExtinguishmentOfDebtAmount
9700000 usd
CY2024Q3 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
2.00
CY2023Q4 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
2.00

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0001493152-24-044300-index.html Edgar Link pending
0001493152-24-044300.txt Edgar Link pending
0001493152-24-044300-xbrl.zip Edgar Link pending
ex31-1.htm Edgar Link pending
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ex32-1.htm Edgar Link pending
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Financial_Report.xlsx Edgar Link pending
form10-q.htm Edgar Link pending
gan-20240930.xsd Edgar Link pending
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form10-q_htm.xml Edgar Link completed
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