GAN Financial Statements

Balance sheet, income statement, cash flow, and dividends for Gan Ltd (GAN).


$82.94M Market Cap.

As of 03/16/2025 5:00 PM ET (MRY) • Disclaimer

GAN Market Cap. (MRY)


GAN Shares Outstanding (MRY)


GAN Assets (MRY)


Total Assets

$77.15M

Total Liabilities

$88.29M

Total Investments

$0

GAN Income (MRY)


Revenue

$135.00M

Net Income

-$7.96M

Operating Expense

$98.17M

GAN Cash Flow (MRY)


CF Operations

$5.81M

CF Investing

-$3.13M

CF Financing

$2.00K

GAN Dividends (MRY)


Period

Dividends

Yield %

Growth %

Payout Ratio

Coverage Ratio

2024

$0

0%

0%

0%

-

2023

$0

0%

0%

0%

-

2022

$0

0%

0%

0%

-

2021

$0

0%

0%

0%

-

2020

$0

0%

-

0%

-

GAN Balance Sheet (MRY)


Metric

2024

2023

2022

2021

Total Assets

$77,146,000 (-11.84%)

$87,504,000 (-15.11%)

$103,080,000 (-60.49%)

$260,910,000 (50.60%)

Assets Current

$52,829,000 (-6.57%)

$56,541,000 (-16.40%)

$67,630,000 (24.27%)

$54,422,000 (-66.71%)

Assets Non-Current

$24,317,000 (-21.46%)

$30,963,000 (-12.66%)

$35,450,000 (-82.83%)

$206,488,000 (2017.83%)

Goodwill & Intangible Assets

$16,255,000 (-21.58%)

$20,728,000 (-34.62%)

$31,704,000 (-83.86%)

$196,465,000 (2660.89%)

Shareholders Equity

-$11,141,000 (-141.99%)

-$4,604,000 (-122.17%)

$20,768,000 (-90.73%)

$224,037,000 (44.02%)

Property Plant & Equipment Net

$3,417,000 (-21.27%)

$4,340,000 (1754.70%)

$234,000 (0%)

$0 (0%)

Cash & Equivalents

$38,742,000 (0.43%)

$38,578,000 (-15.99%)

$45,920,000 (16.32%)

$39,477,000 (-74.14%)

Accumulated Other Comprehensive Income

-$34,054,000 (-5.42%)

-$32,302,000 (4.43%)

-$33,798,000 (-72.65%)

-$19,576,000 (-580.43%)

Deferred Revenue

$0 (0%)

$0 (0%)

$0 (0%)

$0 (0%)

Total Investments

$0 (0%)

$0 (0%)

$0 (0%)

$0 (0%)

Investments Current

$0 (0%)

$0 (0%)

$0 (0%)

$0 (0%)

Investments Non-Current

$0 (0%)

$0 (0%)

$0 (0%)

$0 (0%)

Inventory

$0 (0%)

$0 (0%)

$0 (0%)

$0 (0%)

Trade & Non-Trade Receivables

$7,043,000 (-38.31%)

$11,417,000 (-17.32%)

$13,808,000 (70.26%)

$8,110,000 (18.95%)

Trade & Non-Trade Payables

$5,615,000 (-19.45%)

$6,971,000 (8.30%)

$6,437,000 (22.19%)

$5,268,000 (6.94%)

Accumulated Retained Earnings (Deficit)

-$317,264,000 (-2.57%)

-$309,305,000 (-12.53%)

-$274,861,000 (-259.95%)

-$76,360,000 (-66.85%)

Tax Assets

$0 (0%)

$0 (0%)

$0 (0%)

$0 (0%)

Tax Liabilities

$3,169,000 (-16.45%)

$3,793,000 (-10.08%)

$4,218,000 (135.51%)

$1,791,000 (0%)

Total Debt

$50,315,000 (8.04%)

$46,570,000 (64.26%)

$28,352,000 (0%)

$0 (0%)

Debt Current

$912,000 (13.43%)

$804,000 (312.31%)

$195,000 (0%)

$0 (0%)

Debt Non-Current

$49,403,000 (7.95%)

$45,766,000 (62.54%)

$28,157,000 (0%)

$0 (0%)

Total Liabilities

$88,287,000 (-4.15%)

$92,108,000 (11.90%)

$82,312,000 (123.23%)

$36,873,000 (108.53%)

Liabilities Current

$31,168,000 (-15.13%)

$36,724,000 (12.89%)

$32,532,000 (-1.52%)

$33,033,000 (90.81%)

Liabilities Non-Current

$57,119,000 (3.13%)

$55,384,000 (11.26%)

$49,780,000 (1196.35%)

$3,840,000 (937.84%)

GAN Income Statement (MRY)


Metric

2024

2023

2022

2021

Revenues

$134,998,000 (4.31%)

$129,419,000 (-8.56%)

$141,528,000 (13.99%)

$124,163,000 (253.15%)

Cost of Revenue

$40,431,000 (4.47%)

$38,700,000 (-7.05%)

$41,634,000 (0.63%)

$41,373,000 (295.12%)

Selling General & Administrative Expense

$56,287,000 (-14.23%)

$65,629,000 (-12.50%)

$75,001,000 (5.42%)

$71,147,000 (138.18%)

Research & Development Expense

$34,246,000 (-10.45%)

$38,243,000 (45.16%)

$26,345,000 (16.84%)

$22,548,000 (104.39%)

Operating Expenses

$98,167,000 (-18.89%)

$121,033,000 (-58.61%)

$292,403,000 (156.49%)

$114,003,000 (158.16%)

Interest Expense

$0 (0%)

$0 (0%)

$0 (0%)

$0 (0%)

Income Tax Expense

-$275,000 (-299.28%)

$138,000 (-96.50%)

$3,942,000 (1968.25%)

-$211,000 (-159.77%)

Net Loss Income from Discontinued Operations

$0 (0%)

$0 (0%)

$0 (0%)

$0 (0%)

Consolidated Income

-$7,959,000 (76.89%)

-$34,444,000 (82.56%)

-$197,498,000 (-545.54%)

-$30,594,000 (-51.33%)

Net Income to Non-Controlling Interests

$0 (0%)

$0 (0%)

$0 (0%)

$0 (0%)

Net Income

-$7,959,000 (76.89%)

-$34,444,000 (82.56%)

-$197,498,000 (-545.54%)

-$30,594,000 (-51.33%)

Preferred Dividends Income Statement Impact

$0 (0%)

$0 (0%)

$0 (0%)

$0 (0%)

Net Income Common Stock

-$7,959,000 (76.89%)

-$34,444,000 (82.56%)

-$197,498,000 (-545.54%)

-$30,594,000 (-51.33%)

Weighted Average Shares

$45,403,847 (2.77%)

$44,180,600 (4.30%)

$42,359,523 (0.80%)

$42,023,327 (55.61%)

Weighted Average Shares Diluted

$45,403,847 (2.77%)

$44,180,600 (4.30%)

$42,359,523 (0.80%)

$42,023,327 (55.61%)

Earning Before Interest & Taxes (EBIT)

-$8,234,000 (76.00%)

-$34,306,000 (82.28%)

-$193,556,000 (-528.33%)

-$30,805,000 (-55.08%)

Gross Profit

$94,567,000 (4.24%)

$90,719,000 (-9.18%)

$99,894,000 (20.66%)

$82,790,000 (235.35%)

Operating Income

-$3,600,000 (88.12%)

-$30,314,000 (84.25%)

-$192,509,000 (-516.76%)

-$31,213,000 (-60.30%)

GAN Cash Flow Statement (MRY)


Metric

2024

2023

2022

2021

Net Cash Flow from Investing

-$3,130,000 (54.07%)

-$6,815,000 (64.32%)

-$19,103,000 (82.09%)

-$106,674,000 (-1702.23%)

Net Cash Flow from Financing

$2,000 (-99.85%)

$1,347,000 (-95.09%)

$27,448,000 (16141.42%)

$169,000 (-99.89%)

Net Cash Flow from Operations

$5,813,000 (263.06%)

-$3,565,000 (-185.43%)

-$1,249,000 (75.03%)

-$5,003,000 (21.19%)

Net Cash Flow / Change in Cash & Cash Equivalents

$164,000 (102.23%)

-$7,342,000 (-213.95%)

$6,443,000 (105.69%)

-$113,177,000 (-179.49%)

Net Cash Flow - Business Acquisitions and Disposals

$0 (0%)

$0 (0%)

$0 (0%)

-$92,724,000 (0%)

Net Cash Flow - Investment Acquisitions and Disposals

$0 (0%)

$0 (0%)

$0 (0%)

$0 (0%)

Capital Expenditure

-$3,130,000 (54.07%)

-$6,815,000 (47.99%)

-$13,103,000 (6.07%)

-$13,950,000 (-135.68%)

Issuance (Repayment) of Debt Securities

$0 (0%)

$1,596,000 (-94.21%)

$27,575,000 (33728.05%)

-$82,000 (46.75%)

Issuance (Purchase) of Equity Shares

$2,000 (100.80%)

-$249,000 (-96.06%)

-$127,000 (-114.85%)

$855,000 (-99.46%)

Payment of Dividends & Other Cash Distributions

$0 (0%)

$0 (0%)

$0 (0%)

$0 (0%)

Effect of Exchange Rate Changes on Cash

-$2,521,000 (-249.08%)

$1,691,000 (358.96%)

-$653,000 (60.87%)

-$1,669,000 (-2428.79%)

Share Based Compensation

$3,572,000 (-33.82%)

$5,397,000 (-23.66%)

$7,070,000 (-13.10%)

$8,136,000 (19.19%)

Depreciation Amortization & Accretion

$1,535,000 (-6.86%)

$1,648,000 (7.78%)

$1,529,000 (41.97%)

$1,077,000 (199.17%)

GAN Financial Metrics (MRY)


Metric

2024

2023

2022

2021

Gross Margin

70.10% (0.00%)

70.10% (-0.71%)

70.60% (5.85%)

66.70% (-4.99%)

Profit Margin

-5.90% (77.82%)

-26.60% (80.93%)

-139.50% (-467.07%)

-24.60% (57.22%)

EBITDA Margin

-5.00% (80.16%)

-25.20% (81.43%)

-135.70% (-467.78%)

-23.90% (56.94%)

Return on Average Equity (ROAE)

88.50% (120.53%)

-431.10% (-205.10%)

-141.30% (-1012.60%)

-12.70% (60.80%)

Return on Average Assets (ROAA)

-9.90% (73.60%)

-37.50% (60.61%)

-95.20% (-757.66%)

-11.10% (58.27%)

Return on Sales (ROS)

-6.10% (76.98%)

-26.50% (80.63%)

-136.80% (-451.61%)

-24.80% (56.11%)

Return on Invested Capital (ROIC)

-19.80% (80.49%)

-101.50% (91.33%)

-1170.20% (-326.43%)

516.80% (-95.97%)

Dividend Yield

0% (0%)

0% (0%)

0% (0%)

0% (0%)

Price to Earnings Ratio (P/E)

-10.11 (-399.06%)

-2.03 (-529.19%)

-0.32 (97.44%)

-12.59 (53.44%)

Price to Sales Ratio (P/S)

0.61 (13.54%)

0.54 (20.04%)

0.45 (-85.56%)

3.11 (-80.03%)

Price to Book Ratio (P/B)

-7.44 (51.49%)

-15.35 (-598.86%)

3.08 (77.70%)

1.73 (-52.55%)

Debt to Equity Ratio (D/E)

-7.92 (60.39%)

-20.01 (-604.82%)

3.96 (2301.82%)

0.17 (44.74%)

Earnings Per Share (EPS)

-0.18 (76.92%)

-0.78 (83.26%)

-4.66 (-538.36%)

-0.73 (2.67%)

Sales Per Share (SPS)

2.97 (1.50%)

2.93 (-12.33%)

3.34 (13.06%)

2.96 (126.96%)

Free Cash Flow Per Share (FCFPS)

0.06 (125.11%)

-0.23 (30.68%)

-0.34 (24.83%)

-0.45 (0.66%)

Book Value Per Share (BVPS)

-0.24 (-135.58%)

-0.1 (-121.22%)

0.49 (-90.81%)

5.33 (-7.45%)

Tangible Assets Book Value Per Share (TABVPS)

1.34 (-11.25%)

1.51 (-10.33%)

1.69 (9.84%)

1.53 (-75.07%)

Enterprise Value Over EBIT (EV/EBIT)

-12 (-500.00%)

-2 (0%)

0 (0%)

-11 (60.71%)

Enterprise Value Over EBITDA (EV/EBITDA)

-14.34 (-508.57%)

-2.36 (-806.54%)

-0.26 (97.71%)

-11.35 (60.37%)

Asset Turnover

1.68 (18.96%)

1.41 (106.45%)

0.68 (50.88%)

0.45 (-2.38%)

Current Ratio

1.7 (10.06%)

1.54 (-25.93%)

2.08 (26.15%)

1.65 (-82.55%)

Dividends

$0 (0%)

$0 (0%)

$0 (0%)

$0 (0%)

Free Cash Flow (FCF)

$2,683,000 (125.85%)

-$10,380,000 (27.68%)

-$14,352,000 (24.28%)

-$18,953,000 (-54.50%)

Enterprise Value (EV)

$96,087,749 (24.83%)

$76,973,828 (54.10%)

$49,952,018 (-85.20%)

$337,442,945 (-39.60%)

Earnings Before Tax (EBT)

-$8,234,000 (76.00%)

-$34,306,000 (82.28%)

-$193,556,000 (-528.33%)

-$30,805,000 (-55.08%)

Earnings Before Interest Taxes & Depreciation Amortization (EBITDA)

-$6,699,000 (79.49%)

-$32,658,000 (82.99%)

-$192,027,000 (-545.95%)

-$29,728,000 (-52.42%)

Invested Capital

$41,296,000 (8.55%)

$38,044,000 (78.81%)

$21,276,000 (363.81%)

-$8,065,000 (-110.25%)

Working Capital

$21,661,000 (9.31%)

$19,817,000 (-43.54%)

$35,098,000 (64.09%)

$21,389,000 (-85.37%)

Tangible Asset Value

$60,891,000 (-8.81%)

$66,776,000 (-6.44%)

$71,376,000 (10.75%)

$64,445,000 (-61.21%)

Market Capitalization

$82,937,749 (17.39%)

$70,648,828 (10.59%)

$63,885,018 (-83.52%)

$387,747,945 (-31.68%)

Average Equity

-$8,992,000 (-212.53%)

$7,990,500 (-94.28%)

$139,792,750 (-41.94%)

$240,757,000 (285.59%)

Average Assets

$80,590,500 (-12.35%)

$91,946,250 (-55.68%)

$207,473,750 (-24.49%)

$274,761,000 (261.91%)

Invested Capital Average

$41,533,250 (22.94%)

$33,783,750 (104.24%)

$16,541,000 (377.48%)

-$5,961,250 (-3745.97%)

Shares

45,570,192 (1.91%)

44,714,448 (4.99%)

42,590,012 (0.94%)

42,192,377 (50.77%)