GAN Surges On Updated Guidance

Shares of internet gaming SaaS provider GAN Limited GAN are trading higher in Wednesday's after-hours session.

What Happened: GAN shared preliminary second-quarter financials. The company expects second-quarter revenue to be in a range of $34 million to $35 million. Adjusted EBITDA is expected to be in a range of $3 million to $7 million.

The company saw stronger than expected growth for B2C comprised of CoolBet in Latin America and Northern Europe and mentioned two major international sporting events in the second half of the quarter.

Related Link: GAN Q1 Revenue Up 262% On CoolBet Integration, New State Launches

GAN raised its full-year guidance to a range of $125 million to $135 million. The company will release its full second-quarter earnings report on Aug. 16, 2021.

GAN Price Action: GAN shares are up 16.5% to $17.66 in after-hours trading.