---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-24-018486"
form_type: "8-K"
ticker: null
cik: "0001799332"
company_name: "GAN Ltd"
filed_at: "2024-05-09T23:59:59+00:00"
generated_at: "2026-06-02T06:42:09.930027+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001493152-24-018486
- form_type: 8-K
- cik: 0001799332
- company_name: GAN Ltd
- filed_at: 2024-05-09T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1799332/000149315224018486/0001493152-24-018486-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1799332/000149315224018486/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-24-018486
- JSON: https://secwatch.observer/filing/0001493152-24-018486.json
- Plain text: https://secwatch.observer/filing/0001493152-24-018486.txt

## Key facts
- Earnings Releases
  GAN Ltd reported financial results for first quarter ended March 31, 2024.
  - Period: first quarter ended March 31, 2024
  - Result: reported results
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1799332/000149315224018486/0001493152-24-018486-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.