GAN - GAN reports earnings below consensus as B2C betting favors customers

GAN Limited (NASDAQ:GAN) shares drop 6.05% AH as earnings come in below consensus. B2B segment revenue grew 5% sequentially driven by more hardware sales, while B2C revenue fell from last quarter due to lower sports betting margins as event results favored customers during the third quarter. Net loss was $7.9M vs a loss of $2.7M in Q2 2021. The quarter over quarter increase was primarily related to the impact of lower B2C sports book margin and a $1.5M adverse tax impact Executives believe that the company will ultimately yield over $500 million of revenue by 2026 and a long-term adjusted EBITDA margin of 30-35% at scale. GAN stock is ranked 24 out of 27 in the casinos and gaming sector according to SA's Quant Rating. Click here to find out which stock is first.

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GAN reports earnings below consensus as B2C betting favors customers