GAN Ltd. ( (GAN) ) has released its Q4 earnings. Here is a breakdown of the information GAN Ltd. presented to its investors.
GAN Limited is a prominent North American B2B technology provider specializing in real money internet gaming solutions and a leading international B2C operator of internet sports betting. The company is known for its proprietary internet gambling enterprise software system, GameSTACK, which serves U.S. land-based casino operators.
GAN Limited reported a strong financial performance for the fourth quarter and full year 2024, driven by improvements in operating performance and cost structure. The company announced a planned merger with SEGA SAMMY, expected to close in the second quarter of 2025.
In the fourth quarter of 2024, GAN’s total revenue increased by 3% to $31.7 million, with notable growth in the B2C segment. Despite a decline in B2B revenue due to a partner exit, the company achieved a net loss reduction from $9.4 million to $4.2 million, attributed to increased revenues and decreased operating expenses. For the full year, total revenue rose by 4% to $135.0 million, with significant growth in the B2B segment, particularly in Nevada and Michigan. The company’s adjusted EBITDA improved to $8.6 million from a loss of $8.4 million in the previous year.
Looking ahead, GAN Limited remains focused on closing its merger with SEGA SAMMY and continuing its strategic initiatives to enhance financial performance. The company anticipates further growth in its B2B offerings and aims to maintain its market leadership in selected European and Latin American markets.