How did GAN's revenue and expenses shift in Q4 2024 compared to previous quarters?

**GAN's revenue and expenses in Q4 2024 showed a significant decline compared to the previous quarter.** Here's a detailed analysis:

1. **Revenue Shift**:
- In Q4 2024, GAN's total revenue was $31.69 million.
- This was a notable decrease from the previous quarter, where the revenue was $37.1 million.
- The decline in revenue was primarily due to a reduction in B2C segment revenues, which fell to $15.69 million from $20.7 million.

|code|Ticker|Name|Date|Total Revenue YoY|Total Revenue|market_code|
|---|---|---|---|---|---|---|
|GAN|GAN.O|GAN|2024 Q1|-12.74730279825785|3.0651E7|186|
|GAN|GAN.O|GAN|2024 Q2|5.337993956987973|3.556E7|186|
|GAN|GAN.O|GAN|2024 Q3|24.418955629338967|3.7098E7|186|
|GAN|GAN.O|GAN|2024 Q4|3.1710890444408273|3.1689E7|186|

2. **Net Income Shift**:
- GAN reported a net loss of $4.15 million in Q4 2024.
- This was a stark contrast to the net income of $2.08 million in the previous quarter.
- The change in net income was largely attributed to the decrease in revenue, along with increased operating expenses.

|code|Ticker|Name|Date|Net Income YoY|Net Income|market_code|
|---|---|---|---|---|---|---|
|GAN|GAN.O|GAN|2023 Q4|93.65238407950768|-9376000|186|
|GAN|GAN.O|GAN|2024 Q1|-377.1485676215856|-4160000|186|
|GAN|GAN.O|GAN|2024 Q2|90.59699060242274|-1731000|186|
|GAN|GAN.O|GAN|2024 Q3|125.52696078431373|2083000|186|

3. **Expense Shift**:
- There was no available data on GAN's expenses in Q4 2024.
- However, it is important to note that the company had reported a decrease in operating expenses in the previous quarter, which contributed to the positive net income.
4. **Analysis of B2B and B2C Segments**:
- The B2B segment experienced a significant increase in revenue, with $16.4 million compared to $10.2 million in the previous quarter.
- This was primarily due to expanded offerings in Nevada and the recognition of revenue related to a partner exit in Michigan.
- The B2C segment saw a decline in revenue, which was offset by growth in Europe.
5. **Strategic Implications**:
- GAN's strategic cost reductions and focus on B2B revenues contributed to the improved financial performance in Q3 2024.
- However, the decline in revenue and net income in Q4 2024 suggests that these strategies may not have been as effective in this quarter.

In conclusion, GAN's revenue and net income in Q4 2024 were negatively impacted, likely due to a combination of factors including decreased B2C revenues and increased expenses. The company's focus on strategic cost reductions and expansion in the B2B segment could provide a foundation for future growth, but the immediate term showed challenges.