GAN Q1 net loss $4.2M; B2B revenue up 10%, B2C down 23%

GAN Ltd

2024-Q1 EPS reported -$0.09 revenue$30,651,000

Total revenue $30.7M, down 13% YoY; net loss $4.2M vs $1.5M profit in Q1 2023.
B2B segment revenue $12.3M (+10% YoY); B2C $18.3M (-23% YoY) on lower sports margin.
Adjusted EBITDA -$0.6M vs breakeven; operating expenses down 20% to $24.6M.
B2B Gross Operator Revenue $632M (+49% YoY); B2C Active Customers 222k vs 257k.
Merger with SegaSammy on track to close late 2024/early 2025; CFIUS application submitted.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

GAN Ltd reported financial results for first quarter ended March 31, 2024.

Period: first quarter ended March 31, 2024
Result: reported results

Exact text from the filing

On May 9, 2024, GAN Limited (the “Company”) issued an earnings release and held a conference call reporting its unaudited financial results for the three months ended March 31, 2024.

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Source: SEC EDGAR

accession 0001493152-24-018486

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