Gan Ltd's Nasdaq-listed shares plummet after downbeat forecast for 2022

GAN

22/03/2022 21:36

** U.S.-listed shares of online gambling software supplier
Gan Ltd  GAN.O  tumble nearly 16% to trade at $4.60 after market
    ** Co forecasts revenue of $155 mln to $165 mln for 2022,
below Street estimates of $171.1 mln - Refinitiv IBES data
 urn:newsml:reuters.com:*:nBw5YK6cya
    ** GAN also reports Q4 net loss of 20 cents/shr, bigger than
est. of 11 cents/shr loss
    ** Q4 results "were adversely affected by the volatile
sports margin in our B2C segment" - CEO Dermot Smurfit
    ** Softer demand in the business-to-consumer (B2C) segment
led to a 9.4% drop in the unit's revenue in Q4
    ** GAN has lost over 40% of its market capitalization so far
this year

 (Reporting by Niket Nishant in Bengaluru)
 ((Niket.Nishant@thomsonreuters.com;))