GAN recorded USD 135.00 million revenue: what it means for GAN stock

Published on 10/02/2026 at 16:40 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Fiscal 2024 revenue reached USD 135.00 million, up 4.31 percent year over year. GAN stock posted EBIT of USD -3.55 million.

GAN, BMG3728V1090, Illustration mit AI erstellt.

GAN Limited (BMG3728V1090) recorded USD 135.00 million in revenue in fiscal 2024, up 4.31 percent from USD 129.42 million in fiscal 2023, according to Eulerpool. The figure gives GAN stock a clear historical reference point while the company remains tied to online gaming technology and wagering software.

Revenue grew in fiscal 2024

The fiscal 2024 revenue figure was USD 135.00 million, compared with USD 129.42 million in fiscal 2023. That represents growth of 4.31 percent, calculated from the two annual values listed by Eulerpool.

The longer history shows revenue of USD 141.53 million in fiscal 2022 before the fiscal 2023 decline. Fiscal 2024 therefore marked a recovery from the prior year's lower base, although revenue remained USD 6.53 million below the fiscal 2022 level.

Operating losses remain material

GAN's fiscal 2024 EBIT was USD -3.55 million, compared with USD -30.31 million in fiscal 2023, according to Eulerpool. The improvement in the operating result was USD 26.76 million, but the figure remained negative.

The corresponding fiscal 2024 EBIT margin was negative 2.63 percent, versus negative 23.42 percent in fiscal 2023. Net income also remained negative at USD -7.96 million in fiscal 2024, compared with USD -34.44 million a year earlier.

Software model shapes the outlook

GAN Limited provides business-to-business software-as-a-service products for online casino and sports wagering platforms. Its platform offering includes technology for regulated real-money gambling, sports betting and virtual gaming, while its consumer business operates online wagering and casino services.

That structure makes revenue growth and operating discipline the central historical measures for the company. Fiscal 2024 combined higher revenue with a materially smaller EBIT loss, but the negative operating result and net income show that the recovery had not yet produced positive profitability.

Historical figures define the stock context

The available company record identifies GAN Limited with ISIN BMG3728V1090 and WKN A2P39F, as shown by finanzen.at. For investors reviewing GAN stock, the key dated comparison is the move from USD 129.42 million of fiscal 2023 revenue to USD 135.00 million in fiscal 2024, alongside the reduction in the EBIT loss from USD 30.31 million to USD 3.55 million.