GAN Ltd (NYSE: GAN), a Bermuda-incorporated company specializing in computer programming and data processing services with a market capitalization of $85 million and impressive gross profit margins of 71%, has received a notice from The Nasdaq Stock Market LLC concerning its non-compliance with Nasdaq's listing rules. The notice, dated January 14, 2025, indicates that GAN Ltd failed to hold an annual meeting of shareholders within twelve months following the end of the company's fiscal year.
The company is now required to submit a plan to regain compliance within 45 days. If Nasdaq accepts the plan, GAN Ltd could be granted an extension until June 30, 2025, to meet the listing requirements. The company has expressed its intention to submit a compliance plan within the given timeframe. According to InvestingPro analysis, GAN maintains a healthy current ratio of 1.74, indicating sufficient liquidity to meet its short-term obligations during this transition period.
Despite the notice, the trading of GAN Ltd's common stock on Nasdaq under the ticker symbol "GAN" will continue without immediate disruption. The stock is currently trading near its 52-week high of $1.87, though InvestingPro data suggests the company remains undervalued based on its Fair Value analysis.
The company's forward-looking statements caution that there is no assurance that Nasdaq will accept its compliance plan or that GAN Ltd will be able to regain compliance within the potential extension period or at all. Additionally, there is no guarantee that Nasdaq will provide relief from delisting if needed or that the company will eventually satisfy Nasdaq's continued listing standards. Investors seeking deeper insights into GAN's financial health and future prospects can access additional analysis and 8 more exclusive ProTips through InvestingPro.
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