- GAN (NASDAQ:GAN) jumps 18% in post-market trading after releasing preliminary results for its Q2 2021.
- Revenue is expected to range between $34-$35M, beating the consensus of $23.98M.
- Positive Adj. EBITDA to be $3-$7M as higher than expected revenue more than offset strategic investments in talent and technology.
- The company says the numbers were driven by strong performance of its B2C segment, also comprising of Coolbet, offering in Latin America and Northern Europe with sports results benefitting from higher-than-expected sports betting margin of 9.7% in Q2 vs. 6.8% in Q1 along with the push coming in the second-half of the quarter from two major international sporting events.
- Guidance Update: Increased FY 2021 revenue guidance to a range of $125-$135M compared to the consensus of $106.21M.
- FY 2021 Guidance and full Q2 2021 results are to be released on August 16, 2021.
- Previously (July 6): Milwaukee Bucks' Marc Lasry predicts more states will allow sports gambling