Why GAN Shares Are Falling After Hours

GAN Ltd GAN shares are trading lower in Tuesday's after-hours session after the company reported financial results.

GAN said fourth-quarter revenue declined year-over-year. The company reported quarterly revenue of $30.48 million, which came in below the $35.36 million estimate. 

GAN reported a quarterly earnings loss of 20 cents per share, which was worse than the estimate for a loss of 10 cents per share.

The company expects full-year 2022 revenue to be between $155 million and $165 million. Full-year adjusted EBITDA is expected to be between $15 million and $20 million.

GAN provides Software-as-a-Service solutions for online casino gaming and sports betting applications.

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GAN 52-Week Range: $4.60 - $28.33

The stock was down 15.9% in after hours at $4.59 at publication time.