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 DNA
Packaged Software
USD 90 Million (Micro Cap)
NA (Loss Making)
NA
98.05%
-0.56
64.50%
-5.45
Revenue and Profits:
Net Sales:
29 Million
(Quarterly Results - Mar 2025)
Net Profit:
-7 Million
Total Returns (Price + Dividend) 
TimePeriod
Price Return
Dividend Return
Total Return
3 Months
11.3%
0%
11.3%
6 Months
7.65%
0%
7.65%
1 Year
43.8%
0%
43.8%
2 Years
40.71%
0%
40.71%
3 Years
-41.19%
0%
-41.19%
4 Years
-88.61%
0%
-88.61%
5 Years
-89.12%
0%
-89.12%
GAN Ltd. for the last several years.
Risk Adjusted Returns v/s 
News
No Recent News for the Company
Announcements 
No announcement available
Corporate Actions 
No corporate action available
Quality key factors 
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
Shareholding Snapshot : Mar 2025
Shareholding Compare (%holding) 
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
Quarterly Results Snapshot (Consolidated) - Mar'25 - QoQ
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.
Net Sales
QoQ Growth in quarter ended Mar 2025 is -7.26% vs -14.56% in Dec 2024
Consolidated Net Profit
QoQ Growth in quarter ended Mar 2025 is -61.90% vs -300.00% in Dec 2024
Annual Results Snapshot (Consolidated) - Dec'24
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.
Net Sales
YoY Growth in year ended Dec 2024 is 4.33% vs -8.55% in Dec 2023
Consolidated Net Profit
YoY Growth in year ended Dec 2024 is 76.74% vs 82.58% in Dec 2023
About GAN Ltd. 
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.






