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Income Statement
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GAN Ltd (GAN)

Income Statement

Standardized | As Reported Annual | Quarterly | TTM
 
In millions, except per share itemsDec-31-21Dec-31-20Dec-31-19
   10-K10-K10-K
Revenues:  
    Business to Business (B2B)  45.635.2 
    Other  78.6  
Total revenues  124.235.230.0
            Revenue growth   [+]253.1%17.3% 
Cost of goods sold  64.321.115.5
Gross profit  59.814.014.5
            Gross margin  48.2%40.0%48.4%
Selling, general and administrative   [+]71.129.911.9
Other operating expenses  -0.40.4 
EBITDA   [+]-10.9-16.310.8
            EBITDA margin  -8.8%-46.2%36.0%
Depreciation  4.53.14.1
EBITA  -15.4-19.36.7
            EBITA margin  -12.4%-55.0%22.3%
Amortization of intangibles  12.30.14.1
EBIT   [+]-27.7-19.52.6
            EBIT margin  -22.3%-55.4%8.6%
Non-recurring items   [+]3.5  
Interest expense, net   [+]0.00.00.0
Other income (expense), net  0.4  
Pre-tax income  -30.8-19.92.6
Income taxes  -0.20.40.6
            Tax rate  0.7% 22.3%
Net income  -30.6-20.22.0
            Net margin  -24.6%-57.5%6.7%
   
Basic EPS   [+]($0.73)($0.75)$0.09
Diluted EPS   [+]($0.73)($0.75)$0.09
   
Shares outstanding (basic)   [+]42.027.021.4
Shares outstanding (diluted)   [+]42.027.023.4
   
EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.  

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