secwatch.observer — SEC 8-K summary
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Issuer:     GAN Ltd (—)
CIK:        0001799332
Form:       8-K
Filed at:   2024-05-09T23:59:59+00:00
Accession:  0001493152-24-018486
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1799332/000149315224018486/0001493152-24-018486-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1799332/000149315224018486/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-018486

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer