GAN Ltd.

  • Market Cap: Micro Cap
  • Industry: Packaged Software
  • ISIN: BMG3728V1090
USD
1.97
0.01 (0.51%)
  • Price Points
  • Score
  • Mojo Parameters
  • Total Return
  • News and Corporate Actions
  • Key factors
  • Shareholding
  • Financials
  • CompanyCV
stock-summaryPrice Point
High/Low

1Day

52 Week

Valuation
Technical
Day's Volume

CASH

0

Shareholding (Mar 2025)

FII

18.82%

Held by 27 FIIs

DII

77.86%

Held by 5 DIIs

Promoter

0.00%

How big is GAN Ltd.?

22-Jun-2025

As of May 28, GAN Ltd. has a market capitalization of 89.77 million, with net sales of 133.72 million and a net profit of -10.63 million over the last four quarters. The company's shareholder's funds were -11.14 million, and total assets amounted to 77.15 million as of December 2024.

As of May 28, GAN Ltd. has a market capitalization of 89.77 million, categorizing it as a Micro Cap company.<BR><BR>As of the latest four quarters, GAN Ltd. reported net sales of 133.72 million and a net profit of -10.63 million.<BR><BR>As of December 2024, the company's shareholder's funds were -11.14 million, and total assets amounted to 77.15 million.

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What does GAN Ltd. do?

22-Jun-2025

GAN Ltd. offers SaaS solutions for online casino gaming and sports betting, classified as a micro-cap company with a market cap of $89.77 million. As of March 2025, it reported net sales of $29 million and a net loss of $7 million.

Overview:<BR>GAN Ltd. provides enterprise software-as-a-Service (SaaS) solutions for online casino gaming (iGaming) and online sports betting applications, operating within the packaged software industry and classified as a micro-cap company.<BR><BR>Financial Snapshot:<BR>Most recent Net Sales: 29 Million (Quarterly Results - Mar 2025) <BR>Most recent Net Profit: -7 Million (Quarterly Results - Mar 2025) <BR>Market-cap: USD 89.77 Million (Micro Cap)<BR><BR>Key Metrics:<BR>P/E: NA (Loss Making) <BR>Industry P/E: NA <BR>Dividend Yield: 98.05% <BR>Debt Equity: -0.56 <BR>Return on Equity: 64.50% <BR>Price to Book: -5.45 <BR><BR>Contact Details:<BR>Address: Axe & Bottle Court, 70 Newcomen Street, LONDON CA: SE1 1YT <BR>Tel: 1 702 9645777

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Should I buy, sell or hold GAN Ltd.?

22-Jun-2025

Who are in the management team of GAN Ltd.?

22-Jun-2025

As of March 2022, the management team of GAN Ltd. includes Seamus McGill (Independent Non-Executive Chairman), Dermot Smurfit (CEO and Executive Director), David Goldberg (Non-Executive Independent Director), and Michael Smurfit (Non-Executive Independent Director).

As of March 2022, the management team of GAN Ltd. includes the following individuals:<BR><BR>- Mr. Seamus McGill, who serves as the Independent Non-Executive Chairman of the Board.<BR>- Mr. Dermot Smurfit, who is the Chief Executive Officer and an Executive Director.<BR>- Mr. David Goldberg, who holds the position of Non-Executive Independent Director.<BR>- Mr. Michael Smurfit, also a Non-Executive Independent Director.

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Is GAN Ltd. overvalued or undervalued?

25-Jun-2025

GAN Ltd. is considered overvalued and risky due to its negative P/E ratio of -8.45 and high EV to EBITDA of 22.49, especially when compared to peers like Gorilla Technology Group and Vasta Platform, despite a strong recent performance relative to the S&P 500.

As of 25 March 2021, GAN Ltd. has moved from a grade of does not qualify to risky, indicating a significant shift in its valuation outlook. The company appears to be overvalued given its negative P/E ratio of -8.45 and a Price to Book Value of -5.45, which suggests that the market is pricing the stock higher than its actual book value. Additionally, the EV to EBITDA ratio stands at 22.49, which is considerably high compared to its peers.<BR><BR>In comparison, Gorilla Technology Group, Inc. has a more favorable P/E ratio of -5.80 and an EV to EBITDA of 17.00, while Vasta Platform Ltd. shows a very attractive valuation with a P/E of 4.44 and an EV to EBITDA of 4.40. These comparisons highlight that GAN Ltd. is not only underperforming against its peers but also carries significant risks, reinforcing the conclusion that it is overvalued. Despite a strong recent performance relative to the S&P 500, with a 1-year return of 48.12% compared to 10.26%, the underlying financial metrics suggest caution for potential investors.

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Is GAN Ltd. technically bullish or bearish?

20-Sep-2025

As of May 13, 2025, GAN Ltd. shows a mildly bullish trend supported by positive MACD and Bollinger Bands, despite some bearish signals from Dow Theory, while outperforming the S&P 500 in the short term but underperforming over longer periods.

As of 13 May 2025, the technical trend for GAN Ltd. has changed from sideways to mildly bullish. The weekly MACD is bullish, and the monthly MACD is mildly bullish, supporting the positive momentum. Bollinger Bands indicate a mildly bullish stance on the weekly and a bullish stance on the monthly. Daily moving averages are bullish, while the KST shows bullish signals for both weekly and monthly periods. However, Dow Theory indicates a bearish trend on the weekly, with no trend on the monthly.<BR><BR>In terms of performance, GAN Ltd. has outperformed the S&P 500 over the past week (5.91% vs. 1.05%) and the past month (13.87% vs. 2.33%), but it has underperformed over longer periods, including year-to-date (8.24% vs. 12.22%) and three years (-36.66% vs. 70.41%). Overall, the current technical stance is mildly bullish, driven by positive indicators in MACD, Bollinger Bands, and moving averages, despite some bearish signals from Dow Theory.

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iScoreScore
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Strong Buy

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Dashboard
1

Weak Long Term Fundamental Strength- the stock has also not traded in the last 16 days

  • Poor long term growth as Operating profit has grown by an annual rate 15.37% of over the last 5 years
  • Company's ability to service its debt is weak with a poor EBIT to Interest (avg) ratio of -10.76
2

The company has declared negative results in Mar'2025 after 3 consecutive positive quarters

3

Risky - Negative Operating Profits

stock-summaryMojo Parameters
Mojo Parameters
Stock DNA
stock-summary
Industry

Packaged Software

stock-summary
Market cap

USD 90 Million (Micro Cap)

stock-summary
P/E

NA (Loss Making)

stock-summary
Industry P/E

NA

stock-summary
Dividend Yield

98.05%

stock-summary
Debt Equity

-0.56

stock-summary
Return on Equity

64.50%

stock-summary
Price to Book

-5.45

Revenue and Profits:
Net Sales:
29 Million
(Quarterly Results - Mar 2025)
Net Profit:
-7 Million
stock-summaryTotal Returns
Total Returns (Price + Dividend) stock-summary
TimePeriod
Price Return
Dividend Return
Total Return
3 Months
12.57%
0%
12.57%
6 Months
7.07%
0%
7.07%
1 Year
48.12%
0%
48.12%
2 Years
40.71%
0%
40.71%
3 Years
-36.66%
0%
-36.66%
4 Years
-87.29%
0%
-87.29%
5 Years
-87.21%
0%
-87.21%

GAN Ltd. for the last several years.

Risk Adjusted Returns v/s stock-summary
stock-summaryKey Factors
Quality key factors stock-summary
Factor
Value
Sales Growth (5y)
25.09%
EBIT Growth (5y)
15.37%
EBIT to Interest (avg)
-10.76
Debt to EBITDA (avg)
Negative Net Debt
Net Debt to Equity (avg)
-0.56
Sales to Capital Employed (avg)
3.29
Tax Ratio
5.34%
Dividend Payout Ratio
0
Pledged Shares
0
Institutional Holding
37.99%
ROCE (avg)
0
ROE (avg)
0
Valuation key factors
Factor
Value
P/E Ratio
NA (Loss Making)
Industry P/E
Price to Book Value
-5.45
EV to EBIT
-29.02
EV to EBITDA
22.49
EV to Capital Employed
-13.52
EV to Sales
0.74
PEG Ratio
NA
Dividend Yield
98.05%
ROCE (Latest)
Negative Capital Employed
ROE (Latest)
Negative BV
Technicals key factors
Indicator
Weekly
Monthly
MACD
Bullish
Mildly Bullish
RSI
No Signal
No Signal
Bollinger Bands
Mildly Bullish
Bullish
Moving Averages
Bullish (Daily)
KST
Bullish
Bullish
Dow Theory
Bearish
No Trend
OBV
No Trend
Bullish
stock-summary Technical Indicator Scale: Bearish, Mildly Bearish, Sideways, Mildly Bullish, Bullish  Turned 
stock-summaryShareholding
Shareholding Snapshot : Mar 2025stock-summary
Shareholding Compare (%holding) stock-summary
Majority shareholders

Foreign Institutions

Domestic Funds

Held in 9 Schemes (3.31%)

Foreign Institutions

Held by 27 Foreign Institutions (18.82%)

Strategic Entities with highest holding

Highest Public shareholder

stock-summaryFinancial
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  {
    "link": "quarterly",
    "btn_text": "All Quarterly Results",
    "header": "Quarterly Results Snapshot (Consolidated) - Mar'25 - QoQ",
    "rhs": [
      {
        "prefix": "Net Sales ",
        "suffix": "QoQ Growth in quarter ended Mar 2025 is -7.26% vs -14.56% in Dec 2024",
        "dir": 1
      },
      {
        "prefix": "Consolidated Net Profit ",
        "suffix": "QoQ Growth in quarter ended Mar 2025 is -61.90% vs -300.00% in Dec 2024",
        "dir": 1
      }
    ],
    "table": {
      "header": [
        "Mar'25",
        "Dec'24",
        "Change(%)"
      ],
      "body": [
        {
          "field": "Net Sales",
          "val1": "29.40",
          "val2": "31.70",
          "chgp": "-7.26%",
          "chgp_class": "negative"
        },
        {
          "field": "Operating Profit (PBDIT) excl Other Income",
          "val1": "-2.60",
          "val2": "-0.50",
          "chgp": "-420.00%",
          "chgp_class": "negative"
        },
        {
          "field": "Interest",
          "val1": "1.20",
          "val2": "1.20",
          "chgp": "",
          "chgp_class": "neutral"
        },
        {
          "field": "Exceptional Items",
          "val1": "0.00",
          "val2": "0.00",
          "chgp": "",
          "chgp_class": "neutral"
        },
        {
          "field": "Consolidate Net Profit",
          "val1": "-6.80",
          "val2": "-4.20",
          "chgp": "-61.90%",
          "chgp_class": "negative"
        },
        {
          "field": "Operating Profit Margin (Excl OI)",
          "val1": "-158.60%",
          "val2": "-75.00%",
          "chgp": "-8.36%",
          "chgp_class": "negative"
        }
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    "link": "annual",
    "btn_text": "All Annual Results",
    "header": "Annual Results Snapshot (Consolidated) - Dec'24",
    "rhs": [
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        "prefix": "Net Sales ",
        "suffix": "YoY Growth in year ended Dec 2024 is 4.33% vs -8.55% in Dec 2023",
        "dir": 1
      },
      {
        "prefix": "Consolidated Net Profit ",
        "suffix": "YoY Growth in year ended Dec 2024 is 76.74% vs 82.58% in Dec 2023",
        "dir": -1
      }
    ],
    "table": {
      "header": [
        "Dec'24",
        "Dec'23",
        "Change(%)"
      ],
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          "field": "Net Sales",
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          "val2": "129.40",
          "chgp": "4.33%",
          "chgp_class": "positive"
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        {
          "field": "Operating Profit (PBDIT) excl Other Income",
          "val1": "5.90",
          "val2": "-15.30",
          "chgp": "138.56%",
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        },
        {
          "field": "Interest",
          "val1": "4.70",
          "val2": "4.70",
          "chgp": "",
          "chgp_class": "neutral"
        },
        {
          "field": "Exceptional Items",
          "val1": "0.00",
          "val2": "-0.80",
          "chgp": "100.00%",
          "chgp_class": "positive"
        },
        {
          "field": "Consolidate Net Profit",
          "val1": "-8.00",
          "val2": "-34.40",
          "chgp": "76.74%",
          "chgp_class": "positive"
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          "field": "Operating Profit Margin (Excl OI)",
          "val1": "-13.20%",
          "val2": "-250.50%",
          "chgp": "23.73%",
          "chgp_class": "positive"
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]
Quarterly Results Snapshot (Consolidated) - Mar'25 - QoQstock-summary
Mar'25
Dec'24
Change(%)
Net Sales
29.40
31.70
-7.26%
Operating Profit (PBDIT) excl Other Income
-2.60
-0.50
-420.00%
Interest
1.20
1.20
Exceptional Items
0.00
0.00
Consolidate Net Profit
-6.80
-4.20
-61.90%
Operating Profit Margin (Excl OI)
-158.60%
-75.00%
-8.36%
USD in Million.
Direction Arrows
Net Sales

QoQ Growth in quarter ended Mar 2025 is -7.26% vs -14.56% in Dec 2024

Direction Arrows
Consolidated Net Profit

QoQ Growth in quarter ended Mar 2025 is -61.90% vs -300.00% in Dec 2024

Annual Results Snapshot (Consolidated) - Dec'24stock-summary
Dec'24
Dec'23
Change(%)
Net Sales
135.00
129.40
4.33%
Operating Profit (PBDIT) excl Other Income
5.90
-15.30
138.56%
Interest
4.70
4.70
Exceptional Items
0.00
-0.80
100.00%
Consolidate Net Profit
-8.00
-34.40
76.74%
Operating Profit Margin (Excl OI)
-13.20%
-250.50%
23.73%
USD in Million.
Direction Arrows
Net Sales

YoY Growth in year ended Dec 2024 is 4.33% vs -8.55% in Dec 2023

Direction Arrows
Consolidated Net Profit

YoY Growth in year ended Dec 2024 is 76.74% vs 82.58% in Dec 2023

stock-summaryCompany CV
About GAN Ltd. stock-summary
stock-summary
GAN Ltd.
Packaged Software
GAN Ltd provides enterprise software-as-a-Service (SaaS) solutions for online casino gaming (iGaming) and online sports betting applications. The Company operates through two segments: Real money iGaming operations (RMiG) and Simulated iGaming operations (SiG). It provides its technology platform as GameSTACK Internet gaming ecosystem platform (GameSTACK), which can be deployed for simulated iGaming, real money iGaming and online sports betting. GameSTACK is a platform comprising enterprise-level software, hardware and proprietary components, such as iSight and the iBridge Framework. GameSTACK provides operators with a range of day-to-day back-office management tools along with integration application program interfaces for third-party casino management systems. With the iSight management tool, its casino operators have control over their content selection, player communications, Website layout, process automation and real-time analytics.
Company Coordinates stock-summary
Company Details
Axe & Bottle Court, 70 Newcomen Street , LONDON CA : SE1 1YT
stock-summary
Tel: 1 702 9645777
stock-summary
stock-summary
Registrar Details