GAN (GAN) Stock Price

GAN Price

Delisted·May 23, 2025
1.97USD
Last traded price

Revenue has compounded at 22.7% per year over the past 14 years to 135.00 M USD. GAN's net margin stands at -5.9%, up from -57.5% several years earlier. Analysts set a median price target of 2.01 USD, implying 1.8% above the current price. Of 9 analysts, 0 rate the stock a buy — an overall Sell consensus.

GAN stock price

Volume
Details

Stock Price

How to Read This Chart

This chart tracks the historical stock price of GAN over time. You can switch between daily, weekly, and monthly views and select custom time ranges — from a single day to the full available history. Use the toggle to view price changes in absolute currency terms or as a percentage change relative to the starting date.

Total Return vs. Price Return

The "Total Return" toggle includes reinvested dividends on top of the pure price movement. This is critical because dividends can account for a significant portion of long-term returns. Historically, roughly 40 % of the S&P 500's total return has come from dividends. Always compare total return when evaluating a stock's real performance against a benchmark.

Intraday Price Data

When viewing a one-day time frame, the chart displays real-time intraday price movements. This is useful for observing how GAN stock reacts to market openings, earnings releases, or breaking news throughout the trading session.

What to Look For

Look for long-term trends (sustained upward or downward movements over months and years), support and resistance levels (price zones where the stock repeatedly bounces or reverses), and volatility (how much the price fluctuates day to day). Comparing GAN's price chart to a market index like the S&P 500 can reveal whether the stock is outperforming or underperforming the broader market.

GAN Stock Price History
DateGAN Price
Access this data via the Eulerpool API

GAN Revenue, EBIT, Net Income

  • 3 Years

  • 5 Years

  • 10 Years

  • 25 Years

  • Max

Revenue
EBIT
Net Income
Details
Date
Revenue
EBIT
Net Income
Jan 1, 2020
35.16 M USD
-19.47 M USD
-20.22 M USD
Jan 1, 2021
125.43 M USD
-25.52 M USD
-24.90 M USD
Jan 1, 2022
141.53 M USD
143.05 M USD
-197.50 M USD
Jan 1, 2023
129.42 M USD
-30.31 M USD
-34.44 M USD
Jan 1, 2024
135.00 M USD
-3.55 M USD
-7.96 M USD
Jan 1, 2025 (e)
137.46 M USD
-34.46 M USD
-11.53 M USD
Jan 1, 2026 (e)
150.69 M USD
-37.78 M USD
-6.39 M USD
Jan 1, 2027 (e)
161.96 M USD
-40.60 M USD
-4.09 M USD

GAN Income Statement, Balance Sheet, Cash Flow Statement

Last updated Jul 31, 2026, 9:22 PM
 
REVENUEM USD
REVENUE GROWTH%
GROSS MARGIN%
GROSS INCOMEM USD
EBITM USD
EBIT MARGIN%
NET INCOMEM USD
NET INCOME GROWTH%
SHARESM
20122013201420152016201720182019202020212022202320242025e2026e2027e
8.0020.0011.008.009.0012.0014.0029.0035.00125.00141.00129.00134.00137.00150.00161.00
14.29150.00-45.00-27.2712.5033.3316.67107.1420.69257.1412.80-8.513.882.249.497.33
100.00100.00100.00100.00100.00100.0014.2958.6268.5767.2070.2169.7770.1570.1570.1570.15
8.0020.0011.008.009.0012.002.0017.0024.0084.0099.0090.0094.0096.10105.22112.94
5.00-4.00-7.00-5.00-5.00-8.002.00-19.00-25.00143.00-30.00-3.00-34.00-37.00-40.00
25.00-36.36-87.50-55.56-41.67-57.146.90-54.29-20.00101.42-23.26-2.24-24.82-24.67-24.84
1.00-4.00-7.00-4.00-4.00-7.001.00-20.00-24.00-197.00-34.00-7.00-11.00-6.00-4.00
-500.0075.00-42.8675.00-114.29-2,100.0020.00720.83-82.74-79.4157.14-45.45-33.33
45.6128.7955.8855.8969.0170.6019.6521.3730.6442.2042.8944.8745.6145.6145.6145.61
Details

Income Statement Key Figures

Revenue and Revenue Growth

Revenue is the starting point of every income statement — it measures the total sales GAN generates from its core business. Revenue growth (expressed as year-over-year percentage change) is one of the most important indicators of business momentum. Sustained growth above 10 % annually is generally considered strong, while declining revenue is a serious warning sign that demands investigation.

Gross Margin

Gross margin = (Revenue − Cost of Goods Sold) ÷ Revenue. It reveals what percentage of each dollar of revenue GAN retains after direct production costs. High gross margins (above 50 %) are typical of asset-light businesses like software and brands, while capital-intensive industries like manufacturing often operate below 30 %. Compare GAN's gross margin to industry peers and track it over time to spot improving or deteriorating pricing power.

EBIT and EBIT Margin

EBIT measures operating profit — what remains after subtracting all operating expenses (including R&D, sales, and administrative costs) from gross profit. The EBIT margin shows this as a percentage of revenue. Because it excludes interest and taxes, EBIT allows fair comparisons between companies with different debt levels and tax jurisdictions. A rising EBIT margin indicates improving operational efficiency.

Net Income and Earnings Per Share (EPS)

Net income is the company's final profit after all expenses, interest, and taxes. Dividing net income by the number of shares outstanding gives you EPS — the single most influential metric in stock valuation. Consistent EPS growth is the primary driver of long-term stock price appreciation. Always check whether EPS growth comes from genuine profit improvement or from share buybacks reducing the share count.

Shares Outstanding

The total number of shares GAN has issued. A declining share count (through buybacks) boosts EPS and signals management confidence. A rising share count (through stock issuance) dilutes existing shareholders. Always monitor this number alongside EPS to get the full picture of per-share value creation.

Analyst Estimates

The projected figures represent consensus estimates from professional analysts. Compare these forecasts against GAN's historical growth rates to assess whether expectations are realistic. A company that consistently beats consensus estimates tends to see its stock price rewarded over time, while repeated misses erode investor confidence.

GAN stock margins

The GAN margin analysis displays the gross margin, EBIT margin, as well as the profit margin of GAN. The EBIT margin (EBIT/sales) indicates the percentage of sales that remains as operating profit. The profit margin shows the percentage of sales that remains for GAN.
  • 3 Years

  • 5 Years

  • 10 Years

  • 25 Years

  • Max

Gross margin
EBIT margin
Profit margin
Details
Date
Gross margin
EBIT margin
Profit margin
Jan 1, 2020
70.22 %
-55.38 %
-57.50 %
Jan 1, 2021
67.02 %
-20.34 %
-19.85 %
Jan 1, 2022
70.58 %
101.08 %
-139.55 %
Jan 1, 2023
70.10 %
-23.42 %
-26.61 %
Jan 1, 2024
70.05 %
-2.63 %
-5.90 %
Jan 1, 2025 (e)
70.05 %
-25.07 %
-8.39 %
Jan 1, 2026 (e)
70.05 %
-25.07 %
-4.24 %
Jan 1, 2027 (e)
70.05 %
-25.07 %
-2.53 %

GAN Stock Revenue, EBIT, Earnings per Share

The GAN earnings per share therefore indicates how much revenue GAN has generated per share in a given period. The earnings before interest and taxes per share shows how much of the operating profit corresponds to each share. The earnings per share indicates how much of the profit belongs to each share.
  • 3 Years

  • 5 Years

  • 10 Years

  • 25 Years

  • Max

Revenue per Share
EBIT per share
Earnings per Share
Details
Date
Revenue per Share
EBIT per share
Earnings per Share
Jan 1, 2020
1.15 USD
-0.64 USD
-0.66 USD
Jan 1, 2021
2.97 USD
-0.60 USD
-0.59 USD
Jan 1, 2022
3.30 USD
3.34 USD
-4.60 USD
Jan 1, 2023
2.88 USD
-0.68 USD
-0.77 USD
Jan 1, 2024
2.96 USD
-0.08 USD
-0.17 USD
Jan 1, 2025 (e)
2.96 USD
-0.76 USD
-0.25 USD
Jan 1, 2026 (e)
3.24 USD
-0.83 USD
-0.14 USD
Jan 1, 2027 (e)
3.49 USD
-0.89 USD
-0.09 USD

GAN business model & stock analysis

The company Gan Ltd was founded in Israel in 1982 and has since become a leading company in the field of semiconductor and electronic technology. Gan Ltd works closely with its customers and offers innovative solutions for the requirements of electronic devices and system applications. The business model of Gan Ltd is focused on the development and manufacturing of semiconductor components and systems. The company is focused on efficient and flexible manufacturing to provide its customers with high quality and fast delivery. Gan Ltd produces semiconductor components such as diodes, transistor arrays, power MOSFETs, power ICs, RF-on-chip solutions, and optoelectronic products. Gan Ltd offers various divisions that focus on specific products. One of the divisions is the automotive division, which offers solutions for the automotive industry. Gan Ltd has a strong presence in the automotive industry and offers advanced semiconductor solutions that meet the requirements of automotive applications. Gan Ltd's semiconductor components are used in various applications such as drivetrain control, battery management, infotainment system, lighting control, and driver assistance systems. Another division of Gan Ltd is the industrial division, which offers solutions for control of industrial applications. Gan Ltd offers semiconductor components such as high-frequency power amplifiers, power driver ICs, optoelectronic products, and power control systems to meet the increasing demands in the industry. Gan Ltd is also involved in the consumer electronics industry and offers semiconductor solutions for video transmission, satellite and cable TV, digital signage, and event technology. The company specializes in wide-bandgap semiconductor technology, allowing it to meet the requirements of 4K/8K ultra-HD wireless video transmission. In the aerospace industry, Gan Ltd offers semiconductor components and systems for various applications such as GPS and navigation systems, satellite communication, and aircraft controls. The company specializes in the development of robust, reliable, and high-performance products that meet the high requirements of the aerospace industry. The main goal of Gan Ltd is to offer customers innovative and reliable semiconductor components and systems that provide the highest quality and performance. The company specializes in the development of wide-bandgap semiconductor technology to meet the increasing demands in various applications. Gan Ltd works closely with its customers and provides excellent customer service to ensure that they meet their requirements and exceed their expectations.

GAN SWOT Analysis

Strengths

Gan Ltd has a strong reputation in the industry for its innovative technology solutions.

The company has a talented and experienced team that delivers high-quality services to clients.

Gan Ltd has a wide range of products and services, providing diverse revenue streams.

Weaknesses

The company relies heavily on a few key clients for a significant portion of its revenue.

Gan Ltd has limited geographical presence, which may restrict its market reach.

The company may face challenges in adapting to rapidly changing technology trends.

Opportunities

The increasing demand for advanced technology solutions presents growth opportunities for Gan Ltd.

Expansion into new markets and diversification of product offerings can drive revenue growth.

Strategic partnerships with other companies can enhance Gan Ltd's market position.

Threats

Intense competition in the industry may put pressure on Gan Ltd's market share and pricing.

Economic downturns and uncertain market conditions can impact the demand for the company's services.

Rapid technological advancements may require continuous investments to stay ahead.

GAN Segments

GAN Revenue by Segment (1/3)

  • 3 Years

  • Max

Casino
Platform and Content Fees
Platform and Content License Fees
Sports
Sportsbook
Development Services and Other
Poker
Details
Date
Casino
Platform and Content Fees
Platform and Content License Fees
Sports
Sportsbook
Development Services and Other
Poker
Jan 1, 2021
41.65 M USD
36.94 M USD
0.00 USD
34.17 M USD
0.00 USD
0.00 USD
2.78 M USD
Jan 1, 2022
46.89 M USD
0.00 USD
43.52 M USD
0.00 USD
37.90 M USD
10.53 M USD
2.69 M USD
Jan 1, 2023
50.04 M USD
0.00 USD
31.47 M USD
0.00 USD
33.32 M USD
11.69 M USD
2.92 M USD
Jan 1, 2024
50.71 M USD
0.00 USD
34.29 M USD
0.00 USD
30.38 M USD
16.42 M USD
3.19 M USD

GAN Revenue by Segment (2/3)

  • 3 Years

  • Max

Gaming Revenue
Development Services and Other
Details
Date
Gaming Revenue
Development Services and Other
Jan 1, 2021
78.59 M USD
8.63 M USD
Jan 1, 2022
0.00 USD
0.00 USD
Jan 1, 2023
0.00 USD
0.00 USD
Jan 1, 2024
0.00 USD
0.00 USD

GAN Revenue by Segment (3/3)

  • 3 Years

  • Max

Business to Consumer (B2C)
Business to Consumer Segment (B2C)
Business to Business (B2B)
Details
Date
Business to Consumer (B2C)
Business to Consumer Segment (B2C)
Business to Business (B2B)
Jan 1, 2021
0.00 USD
78.59 M USD
45.57 M USD
Jan 1, 2022
87.48 M USD
0.00 USD
54.05 M USD
Jan 1, 2023
86.27 M USD
0.00 USD
43.15 M USD
Jan 1, 2024
84.28 M USD
0.00 USD
50.72 M USD

GAN Revenue by Region

  • 3 Years

  • Max

Europe
United States
Latin America
CHILE
NORWAY
FINLAND
International
CANADA
Details
Date
Europe
United States
Latin America
CHILE
NORWAY
FINLAND
International
CANADA
Jan 1, 2021
47.31 M USD
37.79 M USD
32.43 M USD
0.00 USD
0.00 USD
0.00 USD
6.63 M USD
0.00 USD
Jan 1, 2022
45.09 M USD
45.62 M USD
44.08 M USD
0.00 USD
0.00 USD
0.00 USD
6.74 M USD
0.00 USD
Jan 1, 2023
47.79 M USD
31.76 M USD
39.94 M USD
0.00 USD
0.00 USD
0.00 USD
9.94 M USD
0.00 USD
Jan 1, 2024
52.32 M USD
42.28 M USD
31.47 M USD
29.58 M USD
19.45 M USD
17.90 M USD
8.93 M USD
8.92 M USD

GAN Eulerpool Fair Value

Details

Fair Value Estimate

What Is Fair Value?

Fair value is an estimate of what a stock is truly "worth" based on its financial fundamentals, independent of the current market price. If the calculated fair value is above the current share price, the stock may be undervalued — and vice versa. This chart shows three different fair value approaches so you can cross-check them against each other.

Earnings-Based Fair Value

Calculated by multiplying the current earnings per share (EPS) by the average historical P/E ratio over a selected multi-year period. The smoothing over several years filters out temporary spikes or dips. If this fair value exceeds the market price, it suggests the stock is cheap relative to its earning power.

Example: Fair Value (Earnings) 2022 = EPS 2022 × Average P/E 2019–2021

Revenue-Based Fair Value

Derived by multiplying revenue per share by the average historical price-to-sales ratio. This method is particularly useful for companies with volatile or temporarily depressed earnings, as revenue tends to be more stable than profits. It answers: "At what price has the market historically valued each dollar of this company's sales?"

Example: Fair Value (Revenue) 2022 = Revenue per Share 2022 × Average P/S 2019–2021

Dividend-Based Fair Value

Calculated by dividing the dividend per share by the average historical dividend yield. This approach is most relevant for mature, consistently dividend-paying companies. If the resulting fair value is higher than the current price, it implies the stock offers a better yield than its historical average.

Example: Fair Value (Dividend) 2022 = Dividend per Share 2022 ÷ Average Yield 2019–2021

How to Use This Chart

When all three fair value lines converge above the current price, it strengthens the case that the stock is undervalued. When they diverge, investigate why — it may indicate a structural shift in margins, payout policy, or growth rate. The forward estimates on the right extend the analysis using projected fundamentals, helping you assess whether the current price already reflects future growth expectations.

GAN historical P/E ratio, EBIT multiple, and P/S ratio

GAN annual returns

Details

Annual Return

What This Chart Shows

This chart breaks down 's total annual return into two components: price return (gains or losses from stock price movement) and dividend return (income received from dividend payments). Together, they represent the total return an investor would have earned in each calendar year.

Price Return

Price return measures the percentage change in 's stock price from January 1st to December 31st of each year. Positive bars indicate the stock appreciated; negative bars show a decline. This is the component most investors focus on, but it tells only part of the story — especially for dividend-paying stocks.

Dividend Return

Dividend return represents the income generated from dividends paid during the year, expressed as a percentage of the starting stock price. While it may seem small in any single year (typically 1–4 % for established companies), dividends compound significantly over decades and have historically contributed roughly 40 % of total stock market returns.

What to Look For

Examine how many years showed positive vs. negative returns to gauge consistency. A stock with mostly positive years and small drawdowns suggests lower risk. Also compare 's annual returns to a benchmark index — consistently outperforming the market is a hallmark of a strong investment. Pay attention to the worst years: understanding downside risk is just as important as chasing upside potential.

GAN shares outstanding

The number of shares of GAN was 45.61 M in 2025. This indicates how many shares GAN is divided into. Since shareholders are the owners of a company, each share represents a small portion of the company's ownership.
  • 3 Years

  • 5 Years

  • 10 Years

  • 25 Years

  • Max

Number of stocks
Details
Date
Number of stocks
Jan 1, 2020
30.64 M Stocks
Jan 1, 2021
42.20 M Stocks
Jan 1, 2022
42.89 M Stocks
Jan 1, 2023
44.87 M Stocks
Jan 1, 2024
45.61 M Stocks
Jan 1, 2025 (e)
45.61 M Stocks
Jan 1, 2026 (e)
45.61 M Stocks
Jan 1, 2027 (e)
45.61 M Stocks

GAN stock splits

In GAN's history, there have been no stock splits.

Current GAN forecasts and price targets in July 2026

Analyst Price Targets 2026
Δ MOM Price Target
0.00 %
Buy0.00 % (0)
Hold44.44 % (4)
Sell55.56 % (5)
12M Price Target
2.01
Last Price
1.97
Currency
USD
12M Return Potential
1.84 %
LTM Return
0 %

GAN Earnings Estimates

DateEPS estimateRevenue EstimateQuarterly report
11/14/2022-0.17USD35.03 MUSD2022 Q3
8/15/2022-0.12USD37.02 MUSD2022 Q2
5/16/2022-0.10USD34.93 MUSD2022 Q1
3/22/2022-0.11USD35.79 MUSD2021 Q4
11/11/2021-0.13USD32.40 MUSD2021 Q3
8/16/2021-0.01USD35.05 MUSD2021 Q2
5/17/2021-0.02USD25.19 MUSD2021 Q1
3/25/2021-0.07USD12.02 MUSD2020 Q4
11/16/20200.02USD10.19 MUSD2020 Q3
8/20/2020-0.01USD8.18 MUSD2020 Q2

EESG©

Eulerpool ESG Scorecard© for the GAN stock

33/100
37
Environment
37
Social
27
Governance
E

Environment

20
Scope 1 - Direct Emissions
Scope 2 - Indirect emissions from purchased energy
Scope 3 - Indirect emissions within the value chain
Total CO₂ emissions
CO₂ reduction strategy
Coal energy
Nuclear power
Animal experiments
Fur & Leather
Pesticides
Palm Oil
Tobacco
Genetically modified organisms
Climate concept
Sustainable forestry
Recycling regulations
Environmentally friendly packaging
Hazardous substances
Fuel consumption and efficiency
Water consumption and efficiency
S

Social

20
Percentage of female employees
Percentage of women in management
Percentage of Asian employees
Share of Asian management
Percentage of Hispanic/Latino employees
Hispano/Latino Management share
Percentage of Black employees
Black Management Share
Percentage of white employees
White Management Share
Adult content
Alcohol
Weapons
Firearms
Gambling
Military contracts
Human rights concept
Privacy concept
Occupational health and safety
Catholic
G

Governance (Corporate Governance)

4
Environmental reporting
Stakeholder Engagement
Call Back Policies
Antitrust law

The Eulerpool ESG Scorecard© is the strictly copyrighted intellectual property of Eulerpool Research Systems. Any unauthorized use, imitation, or infringement will be actively pursued and may lead to significant legal consequences. For licenses, collaborations, or usage rights, please contact us directly via our contact form. Contact Form to us.

GAN shareholder structure

% Name
6.21445%
Klein (Roger M)
Klein (Roger M)
2.78819%
Cigogne Management S.A.
Cigogne Management S.A.
0.40842%
Crystalline Management, Inc.
Crystalline Management, Inc.
0.29897%
Green (Eric J.)
Green (Eric J.)
0.29590%
Goldman Sachs & Company, Inc.
Goldman Sachs & Company, Inc.
0.26659%
Goldberg David
Goldberg David
...

GAN Executives and Management Board

JR

Mr. Jan Roos

(44)

Chief Technology Officer

Compensation626,500.00 USD
ST

Ms. Sylvia Tiscareno

(48)

Chief Legal Officer

Compensation587,200.00 USD
SM

Mr. Seamus Mcgill

(72)

Chief Executive Officer

Compensation501,800.00 USD
BC

Mr. Brian Chang

(43)

Chief Financial Officer

Compensation483,200.00 USD
GG

Mr. Giuseppe Gardali

(43)

President - B2B

GAN Supply Chain

GAN Supply Chain

Correlation: how closely stock prices move together

Same directionNo relationOpposite
10 companies
#Name1M3M6M1Y2YTrend
1
Flutter Entertainment
-0.54
0.37
0.85
0.92
0.70
2
-0.53
0.81
0.80
0.55
0.61
3
0.90
0.88
0.76
0.79
0.53
#Name1M3M6M1Y2YTrend
1
0.81
0.76
0.74
-0.17
-0.64
2
0.36
0.79
0.91
-0.04
-0.56
3
-0.29
0.81
0.51
0.15
-0.55
4
0.72
0.95
0.54
0.73
-0.49
5
0.89
0.73
0.65
0.25
-0.45

Frequently asked questions about GAN

Gan Ltd's business model focuses on providing technology solutions and services to the online gaming industry. As a leading business-to-business supplier of internet gaming software-as-a-service, Gan Ltd offers its clients an extensive range of products including sports betting, online casino gaming, and virtual reality platforms. By combining its proprietary technology and expertise, Gan Ltd enables its partners to effectively manage their gaming operations, drive customer engagement, and increase revenue. With its customer-centric approach and dedication to innovation, Gan Ltd continues to pave the way for the future of online gaming and elevate the industry to new heights.

All fundamentals and in-depth analysis of GAN

Our stock analysis for GAN stock includes important financial indicators such as revenue, profit, P/E ratio, P/S ratio, EBIT, as well as information on dividends. We also assess aspects such as stocks, market capitalization, debt, equity, and liabilities of GAN. If you are looking for more detailed information on these topics, we offer comprehensive analyses on our subpages.