In Wednesday’s after-hours session, shares of internet gaming SaaS provider GAN Limited (NASDAQ: GAN) are trading higher.
What happened was this: GAN released preliminary financial results for the second quarter. Revenue for the second quarter is expected to be in the region of $34 million to $35 million, according to the firm. The company expects adjusted EBITDA to be in the $3 million to $7 million range.
CoolBet’s B2C business in Latin America and Northern Europe grew faster than projected, and the company noted two important international sporting events in the second half of the quarter.
Associated Link: GAN’s first-quarter revenue increased by 262 percent. New State Launches CoolBet Integration
GAN’s full-year projection has been raised to a range of $125 million to $135 million. On August 16, 2021, the company will issue its entire second-quarter results report.
GAN Price Movement: In after-hours trade, GAN shares are up 16.5 percent to $17.66.
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