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Sharplink Gaming (SBET) Financials

Sharplink Gaming logo
$5.51 +0.19 (+3.57%)
Closing price 07/10/2026 04:00 PM Eastern
Extended Trading
$5.52 +0.01 (+0.18%)
As of 07/10/2026 07:59 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Massive. Learn more.
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Annual Income Statements for Sharplink Gaming

Annual Income Statements for Sharplink Gaming

This table shows Sharplink Gaming's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2022 2023 2024 2025
Period end date 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 -15 -14 10 -735
Consolidated Net Income / (Loss)		 -15 -14 10 -735
Net Income / (Loss) Continuing Operations		 -14 -11 -4.47 -735
Total Pre-Tax Income 		-14 -11 -4.47 -733
Total Operating Income		 -14 -8.89 -4.76 -734
Total Gross Profit		 1.32 1.53 3.66 28
Total Revenue		 3.49 4.95 3.66 28
Operating Revenue		 3.49 4.95 3.66 28
Total Cost of Revenue		 2.17 3.42 0.00 0.00
Total Operating Expenses		 16 10 8.43 201
Selling, General & Admin Expense		 11 7.96 8.43 44
Other Operating Expenses / (Income)		 - - 0.00 17
Impairment Charge		 4.73 2.46 0.00 140
Total Other Income / (Expense), net		 0.17 -2.34 0.29 -561
Interest Expense		 0.11 1.15 0.33 0.00
Interest & Investment Income		 0.03 0.05 0.06 0.45
Other Income / (Expense), net		 0.25 -1.24 0.55 -561
Income Tax Expense		 -0.01 0.02 0.00 1.05
Net Income / (Loss) Discontinued Operations		 -1.14 -2.99 15 -0.07
Basic Earnings per Share		 ($6.13) ($5.17) $35.20 ($7.37)
Weighted Average Basic Shares Outstanding		 2.49M 2.76M 286.94K 99.72M
Diluted Earnings per Share		 ($6.13) ($5.17) $27.62 ($7.37)
Weighted Average Diluted Shares Outstanding		 2.49M 2.76M 337.26K 99.72M
Weighted Average Basic & Diluted Shares Outstanding		 - 3.29M 6.90M 197.16M

Quarterly Income Statements for Sharplink Gaming

This table shows Sharplink Gaming's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 -2.85 -5.13 12 -0.46 -0.89 -0.86 -0.98 -103 104 -734 -686
Consolidated Net Income / (Loss)		 -2.85 -5.13 12 -0.46 -0.89 -0.90 -0.98 -103 104 -734 -686
Net Income / (Loss) Continuing Operations		 -2.03 -4.66 -1.76 -0.92 -0.79 -1.01 -0.92 -103 104 -734 -686
Total Pre-Tax Income 		-2.03 -4.68 -1.76 -0.87 -0.78 -1.06 -0.91 -103 105 -734 -684
Total Operating Income		 -1.40 -4.10 -1.68 -1.20 -0.80 -1.08 -0.93 -103 105 -735 -685
Total Gross Profit		 0.39 0.35 0.29 0.28 0.88 2.21 0.74 0.21 11 17 12
Total Revenue		 1.35 1.03 0.98 0.98 0.88 0.82 0.74 0.70 11 16 12
Operating Revenue		 1.35 1.03 0.98 0.98 0.88 0.82 0.74 0.70 11 16 12
Total Cost of Revenue		 0.96 0.68 0.69 0.70 0.00 -1.39 0.00 0.49 0.00 -1.10 0.00
Total Operating Expenses		 1.80 4.45 1.97 1.48 1.68 3.29 1.67 104 -95 191 202
Selling, General & Admin Expense		 1.80 1.98 1.97 1.48 1.68 3.29 1.67 2.33 12 29 10
Impairment Charge		 - - - 0.00 0.00 - 0.00 88 6.95 - 192
Total Other Income / (Expense), net		 -0.62 -0.58 -0.07 0.33 0.02 0.01 0.01 0.04 0.12 -561 -494
Interest & Investment Income		 0.02 0.02 0.02 0.02 0.02 0.01 0.01 0.04 0.12 0.28 0.20
Other Income / (Expense), net		 -0.32 -0.24 0.24 0.32 0.00 0.00 0.00 0.00 0.00 -561 -495
Income Tax Expense		 0.00 -0.02 0.01 0.04 0.01 -0.06 0.00 0.03 0.79 0.22 1.18
Net Income / (Loss) Discontinued Operations		 -0.82 -0.47 14 0.45 -0.10 0.11 -0.06 -0.05 0.02 0.02 0.00
Basic Earnings per Share		 ($1.00) ($1.92) $47.48 ($1.64) ($3.02) ($2.99) ($1.84) ($4.27) $0.70 ($7.37) ($3.25)
Weighted Average Basic Shares Outstanding		 2.86M 2.76M 259.14K 282.71K 292.53K 286.94K 531.23K 24.20M 149.06M 99.72M 210.87M
Diluted Earnings per Share		 ($1.00) ($1.92) $40.31 ($1.35) ($3.02) ($2.99) ($1.84) ($4.27) $0.62 ($7.37) ($3.25)
Weighted Average Diluted Shares Outstanding		 2.86M 2.76M 298.48K 343.44K 292.53K 337.26K 531.23K 24.20M 167.17M 99.72M 210.87M
Weighted Average Basic & Diluted Shares Outstanding		 - 3.29M 3.36M 3.51M 3.59M 6.90M 659.68K 168.87M 196.69M 197.16M 197.21M

Annual Cash Flow Statements for Sharplink Gaming

This table details how cash moves in and out of Sharplink Gaming's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2022 2023 2024 2025
Period end date 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 45 9.34 -59 27
Net Cash From Operating Activities		 -5.94 0.58 -23 -18
Net Cash From Continuing Operating Activities		 -8.05 -4.92 -5.86 -17
Net Income / (Loss) Continuing Operations		 -14 -11 -4.47 -735
Consolidated Net Income / (Loss)		 -15 -14 10 -735
Net Income / (Loss) Discontinued Operations		 - -2.99 15 -0.07
Depreciation Expense		 0.91 0.11 0.01 0.01
Amortization Expense		 0.01 0.60 0.07 0.00
Non-Cash Adjustments To Reconcile Net Income		 6.67 4.27 -0.11 710
Changes in Operating Assets and Liabilities, net		 -0.14 1.36 -1.36 7.38
Net Cash From Discontinued Operating Activities		 2.11 5.50 -17 -0.06
Net Cash From Investing Activities		 48 -1.03 -19 -2,954
Net Cash From Continuing Investing Activities		 -0.42 -0.29 0.15 -2,954
Purchase of Property, Plant & Equipment		 -0.04 -0.29 -0.00 -0.01
Acquisitions		 -0.39 - 0.00 -445
Divestitures		 - 0.00 0.15 0.00
Other Investing Activities, net		 - - 0.00 -2,509
Net Cash From Discontinued Investing Activities		 49 -0.75 -19 0.00
Net Cash From Financing Activities		 2.68 9.78 -17 2,999
Net Cash From Continuing Financing Activities		 2.68 9.30 -12 2,999
Repayment of Debt		 -0.57 -1.05 -8.97 0.00
Repurchase of Common Equity		 - - 0.00 -89
Issuance of Debt		 3.25 10 -3.60 0.00
Issuance of Common Equity		 - 0.00 0.87 3,130
Other Financing Activities, net		 - 0.00 0.16 -43
Net Cash From Discontinued Financing Activities		 0.00 0.48 -5.84 0.00
Cash Interest Paid		 0.11 0.49 0.49 0.00
Cash Income Taxes Paid		 0.02 0.09 0.51 0.45

Quarterly Cash Flow Statements for Sharplink Gaming

This table details how cash moves in and out of Sharplink Gaming's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Change in Cash & Equivalents		 21 -3.90 -56 -1.59 -0.59 -0.47 -0.11 3.67 6.08 17 -12
Net Cash From Operating Activities		 18 -5.63 -19 -1.66 -0.59 -1.27 -0.51 -1.62 -6.27 -9.13 -11
Net Cash From Continuing Operating Activities		 -0.99 -1.10 -2.85 -1.10 -0.48 -1.42 -0.45 -1.48 -6.25 -9.30 -11
Net Income / (Loss) Continuing Operations		 -2.03 -4.66 -1.76 -0.92 -0.79 -1.01 -0.92 -103 104 -734 -686
Consolidated Net Income / (Loss)		 -2.85 -5.13 12 -0.46 -0.89 -0.90 -0.98 -103 104 -734 -686
Net Income / (Loss) Discontinued Operations		 -0.82 -0.47 14 0.45 -0.10 0.11 -0.06 -0.05 0.02 0.02 0.00
Depreciation Expense		 0.03 0.03 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Non-Cash Adjustments To Reconcile Net Income		 0.52 2.72 -0.21 0.03 0.04 0.04 0.07 101 -113 722 677
Changes in Operating Assets and Liabilities, net		 0.36 0.56 -0.96 -0.22 0.26 -0.45 0.39 0.58 2.82 3.58 -2.51
Net Cash From Discontinued Operating Activities		 19 -4.53 -16 -0.56 -0.11 0.15 -0.06 -0.14 -0.02 0.16 0.00
Net Cash From Investing Activities		 -0.38 -0.19 -19 - - -0.00 -0.50 -406 -2,498 -50 1.88
Net Cash From Continuing Investing Activities		 -0.09 -0.07 -0.00 0.15 - -0.00 -0.50 -406 -2,498 -50 1.88
Purchase of Investments		 - - 0.00 - - - -0.50 - - - 0.00
Other Investing Activities, net		 - - - - - - 0.00 - -2,053 -50 1.88
Net Cash From Discontinued Investing Activities		 -0.29 -0.12 -19 -0.15 - -0.00 0.00 - - - 0.00
Net Cash From Financing Activities		 3.49 1.92 -18 0.07 - 0.80 0.91 411 2,511 76 -2.90
Net Cash From Continuing Financing Activities		 3.59 2.02 -12 0.07 - 0.80 0.91 411 2,511 76 -2.90
Issuance of Common Equity		 - - 0.00 0.07 - 0.80 0.91 431 2,617 81 0.00
Other Financing Activities, net		 - - 0.16 - - - 0.00 -20 -73 51 -2.90
Net Cash From Discontinued Financing Activities		 -0.10 -0.10 -5.84 - - 0.00 0.00 - - - 0.00
Cash Interest Paid		 0.20 - 0.49 - - 0.00 0.00 - - - 0.00
Cash Income Taxes Paid		 0.02 - 0.09 0.28 0.14 0.00 0.00 0.14 - 0.31 0.00

Annual Balance Sheets for Sharplink Gaming

This table presents Sharplink Gaming's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2022 2023 2024 2025
Period end date 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 65 71 2.57 2,432
Total Current Assets		 54 71 2.56 31
Cash & Equivalents		 1.38 2.49 1.44 29
Accounts Receivable		 0.45 0.43 0.54 0.22
Prepaid Expenses		 0.51 0.38 0.31 0.33
Other Current Assets		 - 0.00 0.00 1.88
Other Current Nonoperating Assets		 52 68 0.27 0.18
Plant, Property, & Equipment, net		 0.02 0.01 0.00 0.00
Total Noncurrent Assets		 11 0.17 0.01 2,401
Other Noncurrent Operating Assets		 - - 0.00 2,401
Total Liabilities & Shareholders' Equity		 65 71 2.57 2,432
Total Liabilities		 62 81 0.49 13
Total Current Liabilities		 59 79 0.49 13
Accounts Payable		 1.47 1.46 0.48 13
Other Current Nonoperating Liabilities		 57 66 0.01 0.00
Total Noncurrent Liabilities		 3.15 1.43 0.00 0.00
Commitments & Contingencies		 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 2.99 -9.40 2.08 2,419
Total Preferred & Common Equity		 2.99 -9.40 2.08 2,419
Total Common Equity		 2.98 -9.40 2.08 2,419
Common Stock		 77 78 80 3,263
Retained Earnings		 -74 -88 -78 -812
Treasury Stock		 -0.03 -0.03 -0.03 -32

Quarterly Balance Sheets for Sharplink Gaming

This table presents Sharplink Gaming's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026
Total Assets		 5.40 3.76 2.92 2.78 454 3,073 1,744
Total Current Assets		 5.37 3.74 2.90 2.26 9.51 40 18
Cash & Equivalents		 4.01 2.44 1.85 1.37 5.07 11 17
Accounts Receivable		 0.36 0.70 0.46 0.32 3.36 0.34 0.46
Prepaid Expenses		 0.66 0.33 0.33 0.35 0.80 1.48 0.69
Other Current Assets		 - 0.01 0.02 0.00 0.00 27 0.00
Other Current Nonoperating Assets		 0.34 0.27 0.24 0.22 0.28 0.34 0.00
Plant, Property, & Equipment, net		 0.01 0.01 0.00 0.00 0.00 0.01 0.00
Total Noncurrent Assets		 0.02 0.02 0.01 0.51 444 3,033 1,726
Other Noncurrent Operating Assets		 - - - 0.50 62 3,033 1,726
Total Liabilities & Shareholders' Equity		 5.40 3.76 2.92 2.78 454 3,073 1,744
Total Liabilities		 2.54 1.00 0.90 0.69 1.39 4.57 5.44
Total Current Liabilities		 2.54 1.00 0.90 0.69 1.39 4.57 5.44
Accounts Payable		 0.92 0.71 0.74 0.69 1.39 4.57 5.44
Other Current Nonoperating Liabilities		 1.40 0.29 0.15 0.00 0.00 0.00 0.00
Total Noncurrent Liabilities		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 2.85 2.76 2.02 2.08 453 3,068 1,739
Total Preferred & Common Equity		 2.85 2.76 2.02 2.08 453 3,068 1,739
Total Common Equity		 2.85 2.76 2.02 2.08 453 3,068 1,739
Common Stock		 78 79 79 81 635 3,178 3,268
Retained Earnings		 -76 -76 -77 -79 -182 -78 -1,498
Treasury Stock		 -0.03 -0.03 -0.03 -0.03 -0.03 -32 -32

Annual Metrics And Ratios for Sharplink Gaming

This table displays calculated financial ratios and metrics derived from Sharplink Gaming's official financial filings.

Metric 2022 2023 2024 2025
Period end date 12/31/2022 12/31/2023 12/31/2024 12/31/2025
DEI Shares Outstanding		 0.00 0.00 3,585,350.00 196,693,191.00
DEI Adjusted Shares Outstanding		 0.00 0.00 298,779.00 196,693,191.00
DEI Earnings Per Adjusted Shares Outstanding		 0.00 0.00 33.80 -3.73
Growth Metrics		 - - - -
Revenue Growth		 0.00% 41.91% -26.06% 666.11%
EBITDA Growth		 0.00% 28.09% 56.26% -31,290.74%
EBIT Growth		 0.00% 27.77% 58.47% -30,664.48%
NOPAT Growth		 0.00% 37.74% 46.44% -15,308.71%
Net Income Growth		 0.00% 6.50% 170.90% -7,373.86%
EPS Growth		 0.00% 15.66% 170.90% -126.68%
Operating Cash Flow Growth		 0.00% 109.82% -4,013.97% 23.11%
Free Cash Flow Firm Growth		 0.00% 0.00% -11.18% -68,991.25%
Invested Capital Growth		 0.00% -124.65% 179.62% 620,756.36%
Revenue Q/Q Growth		 0.00% 0.00% -5.28% 114.06%
EBITDA Q/Q Growth		 0.00% 0.00% 41.93% -285,932.25%
EBIT Q/Q Growth		 0.00% 0.00% 43.67% -280,558.52%
NOPAT Q/Q Growth		 0.00% 0.00% 38.82% -159,038.26%
Net Income Q/Q Growth		 0.00% 0.00% 71.94% -71,214.28%
EPS Q/Q Growth		 0.00% 0.00% 71.94% -73,600.00%
Operating Cash Flow Q/Q Growth		 0.00% 0.00% 16.05% -81.26%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 0.00% 5.02%
Invested Capital Q/Q Growth		 0.00% 0.00% 392.18% -21.81%
Profitability Metrics		 - - - -
Gross Margin		 37.71% 30.95% 100.00% 100.00%
EBITDA Margin		 -375.72% -190.40% -112.64% -4,615.46%
Operating Margin		 -409.26% -179.56% -130.07% -2,615.99%
EBIT Margin		 -402.09% -204.66% -114.94% -4,615.49%
Profit (Net Income) Margin		 -436.49% -287.58% 275.78% -2,618.38%
Tax Burden Percent		 107.97% 126.80% -225.73% 100.15%
Interest Burden Percent		 100.54% 110.82% 106.30% 56.64%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 -509.66% -842.29% 0.00% -42.98%
ROIC Less NNEP Spread (ROIC-NNEP)		 1.20% -1,045.50% 0.00% 1,409.14%
Return on Net Nonoperating Assets (RNNOA)		 -0.41% 1,286.47% 0.00% -17.70%
Return on Equity (ROE)		 -510.07% 444.18% -276.01% -60.68%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% -1,091.59% -242.91%
Operating Return on Assets (OROA)		 -21.57% -14.87% -11.40% -106.38%
Return on Assets (ROA)		 -23.42% -20.90% 27.35% -60.35%
Return on Common Equity (ROCE)		 -509.42% 444.72% -276.16% -60.68%
Return on Equity Simple (ROE_SIMPLE)		 -510.07% 151.53% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -10.00 -6.23 -3.33 -514
NOPAT Margin		 -286.48% -125.69% -91.05% -1,831.20%
Net Nonoperating Expense Percent (NNEP)		 -510.86% 203.21% -372.15% -1,452.12%
Return On Investment Capital (ROIC_SIMPLE)		 - -182.43% -160.14% -21.24%
Cost of Revenue to Revenue		 62.29% 69.05% 0.00% 0.00%
SG&A Expenses to Revenue		 311.55% 160.74% 230.07% 157.88%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 446.97% 210.51% 230.07% 716.49%
Earnings before Interest and Taxes (EBIT)		 -14 -10 -4.21 -1,295
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -13 -9.43 -4.13 -1,295
Valuation Ratios		 - - - -
Price to Book Value (P/BV)		 0.00 0.00 1.11 0.73
Price to Tangible Book Value (P/TBV)		 0.00 0.00 1.12 0.73
Price to Revenue (P/Rev)		 0.00 0.00 0.63 62.68
Price to Earnings (P/E)		 0.00 0.00 0.23 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 437.25% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 2.27 0.72
Enterprise Value to Revenue (EV/Rev)		 0.00 0.00 0.24 61.66
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - -
Debt to Equity		 0.90 -1.36 0.00 0.00
Long-Term Debt to Equity		 0.69 -0.15 0.00 0.00
Financial Leverage		 -0.34 -1.23 -0.99 -0.01
Leverage Ratio		 21.78 -21.26 -10.09 1.01
Compound Leverage Factor		 21.90 -23.56 -10.73 0.57
Debt to Total Capital		 47.33% 375.46% 0.00% 0.00%
Short-Term Debt to Total Capital		 10.94% 333.70% 0.00% 0.00%
Long-Term Debt to Total Capital		 36.39% 41.76% 0.00% 0.00%
Preferred Equity to Total Capital		 0.07% 0.12% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 52.61% -275.57% 100.00% 100.00%
Debt to EBITDA		 -0.20 -1.36 0.00 0.00
Net Debt to EBITDA		 -0.10 -1.09 0.00 0.00
Long-Term Debt to EBITDA		 -0.16 -0.15 0.00 0.00
Debt to NOPAT		 -0.27 -2.06 0.00 0.00
Net Debt to NOPAT		 -0.13 -1.66 0.00 0.00
Long-Term Debt to NOPAT		 -0.21 -0.23 0.00 0.00
Altman Z-Score		 0.00 0.00 -42.55 80.55
Noncontrolling Interest Sharing Ratio		 0.13% -0.12% -0.05% 0.00%
Liquidity Ratios		 - - - -
Current Ratio		 0.92 0.90 5.22 2.44
Quick Ratio		 0.03 0.04 4.04 2.26
Cash Flow Metrics		 - - - -
Free Cash Flow to Firm (FCFF)		 0.00 -3.78 -4.20 -2,904
Operating Cash Flow to CapEx		 -16,587.19% 203.70% -1,140,700.00% -159,472.73%
Free Cash Flow to Firm to Interest Expense		 0.00 -3.29 -12.93 0.00
Operating Cash Flow to Interest Expense		 -54.39 0.51 -70.20 0.00
Operating Cash Flow Less CapEx to Interest Expense		 -54.72 0.26 -70.20 0.00
Efficiency Ratios		 - - - -
Asset Turnover		 0.05 0.07 0.10 0.02
Accounts Receivable Turnover		 7.71 11.26 7.59 73.93
Inventory Turnover		 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 159.50 322.94 621.10 0.00
Accounts Payable Turnover		 1.48 2.33 0.00 0.00
Days Sales Outstanding (DSO)		 47.36 32.43 48.10 4.94
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 246.21 156.35 0.00 0.00
Cash Conversion Cycle (CCC)		 -198.85 -123.93 48.10 4.94
Capital & Investment Metrics		 - - - -
Invested Capital		 1.96 -0.48 0.39 2,390
Invested Capital Turnover		 1.78 6.70 -74.33 0.02
Increase / (Decrease) in Invested Capital		 0.00 -2.45 0.87 2,390
Enterprise Value (EV)		 0.00 0.00 0.87 1,730
Market Capitalization		 0.00 0.00 2.31 1,758
Book Value per Share		 $1.20 ($3.41) $0.58 $12.30
Tangible Book Value per Share		 $0.21 ($3.47) $0.58 $12.30
Total Capital		 5.67 3.41 2.08 2,419
Total Debt		 2.68 13 0.00 0.00
Total Long-Term Debt		 2.06 1.42 0.00 0.00
Net Debt		 1.30 10 -1.44 -29
Capital Expenditures (CapEx)		 0.04 0.29 0.00 0.01
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -5.76 0.76 0.63 -10
Debt-free Net Working Capital (DFNWC)		 -4.38 3.24 2.07 18
Net Working Capital (NWC)		 -5.00 -8.14 2.07 18
Net Nonoperating Expense (NNE)		 5.24 8.02 -13 221
Net Nonoperating Obligations (NNO)		 -1.02 8.92 -1.70 -29
Total Depreciation and Amortization (D&A)		 0.92 0.71 0.08 0.01
Debt-free, Cash-free Net Working Capital to Revenue		 -165.09% 15.25% 17.18% -36.13%
Debt-free Net Working Capital to Revenue		 -125.51% 65.47% 56.42% 65.60%
Net Working Capital to Revenue		 -143.28% -164.45% 56.42% 65.60%
Earnings Adjustments		 - - - -
Adjusted Basic Earnings per Share		 $0.00 ($5.17) $0.00 ($7.37)
Adjusted Weighted Average Basic Shares Outstanding		 0.00 2.76M 0.00 99.72M
Adjusted Diluted Earnings per Share		 $0.00 ($5.17) $0.00 ($7.37)
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 2.76M 0.00 99.72M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 3.29M 0.00 197.16M
Normalized Net Operating Profit after Tax (NOPAT)		 -6.69 -4.50 -3.33 -416
Normalized NOPAT Margin		 -191.69% -90.86% -91.05% -1,481.36%
Pre Tax Income Margin		 -404.26% -226.80% -122.17% -2,614.40%
Debt Service Ratios		 - - - -
EBIT to Interest Expense		 -128.55 -8.81 -12.95 0.00
NOPAT to Interest Expense		 -91.59 -5.41 -10.26 0.00
EBIT Less CapEx to Interest Expense		 -128.87 -9.06 -12.96 0.00
NOPAT Less CapEx to Interest Expense		 -91.91 -5.66 -10.26 0.00
Payout Ratios		 - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% -12.10%

Quarterly Metrics And Ratios for Sharplink Gaming

This table displays calculated financial ratios and metrics derived from Sharplink Gaming's official financial filings.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
DEI Shares Outstanding		 0.00 0.00 3,286,608.00 3,361,608.00 3,510,350.00 3,585,350.00 13,806,112.00 659,684.00 168,866,724.00 196,693,191.00 197,158,808.00
DEI Adjusted Shares Outstanding		 0.00 0.00 273,884.00 280,134.00 292,529.00 298,779.00 1,150,509.00 659,684.00 168,866,724.00 196,693,191.00 197,158,808.00
DEI Earnings Per Adjusted Shares Outstanding		 0.00 0.00 44.93 -1.65 -3.03 -2.87 -0.85 -156.78 0.62 -3.73 -3.48
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 0.00% 0.00% -20.83% -26.96% -34.66% -19.86% -23.97% -28.94% 1,129.86% 1,816.24% 1,525.07%
EBITDA Growth		 0.00% 0.00% 21.41% 57.13% 49.30% 73.52% 32.64% -11,570.66% 13,303.69% -120,665.48% -127,523.27%
EBIT Growth		 0.00% 0.00% 24.26% 58.80% 53.87% 75.21% 36.01% -11,526.63% 13,257.27% -120,370.73% -127,247.73%
NOPAT Growth		 0.00% 0.00% -1.79% 30.60% 43.22% 73.74% 45.04% -8,482.47% 18,754.31% -68,155.41% -73,828.62%
Net Income Growth		 0.00% 0.00% 537.37% 86.55% 68.94% 82.39% -107.89% -22,239.50% 11,880.20% -81,211.55% -70,213.95%
EPS Growth		 0.00% 0.00% 537.37% 86.55% 68.94% 82.39% -107.89% -216.30% 120.53% -146.49% -76.63%
Operating Cash Flow Growth		 0.00% 0.00% -28.91% -156.79% -103.24% 77.48% 97.34% 2.15% -960.74% -620.32% -1,971.21%
Free Cash Flow Firm Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -15.05% -43,573.20% -463,852.02% -178,960.82% -177,222.94%
Invested Capital Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 179.62% 588.04% 129,282.34% 3,907,818.70% 620,756.36% 349,896.95%
Revenue Q/Q Growth		 0.43% -23.88% -4.98% 0.55% -10.15% -6.65% -9.85% -5.99% 1,455.10% 45.45% -23.55%
EBITDA Q/Q Growth		 24.15% -158.46% 66.13% 35.43% 10.29% -34.99% 13.86% -11,091.22% 201.49% -1,334.71% 8.97%
EBIT Q/Q Growth		 19.91% -150.99% 66.65% 38.55% 10.32% -34.85% 13.89% -11,065.90% 201.49% -1,334.73% 8.97%
NOPAT Q/Q Growth		 19.08% -191.79% 58.89% 28.51% 33.80% -34.95% 13.95% -11,069.67% 243.89% -593.78% 6.80%
Net Income Q/Q Growth		 17.19% -79.98% 340.81% -103.75% -91.19% -2.05% -7.94% -10,508.54% 200.82% -804.38% 6.66%
EPS Q/Q Growth		 19.35% -92.00% 340.81% -103.75% -91.19% -2.05% -7.94% -132.07% 114.52% -1,288.71% 55.90%
Operating Cash Flow Q/Q Growth		 524.57% -130.84% -242.70% 91.40% 64.38% -114.44% 59.46% -215.98% -286.07% -45.62% -16.58%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 0.00% -10.22% 46.46% -154.84% 23.49% -41,749.65% -468.72% 1.65% 24.23%
Invested Capital Q/Q Growth		 0.00% 0.00% 79.15% 442.89% -77.37% 392.18% 27.77% 90,801.35% 583.62% -21.81% -27.97%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 28.95% 34.13% 29.43% 28.55% 100.00% 268.86% 100.00% 29.99% 100.00% 106.96% 100.00%
EBITDA Margin		 -116.15% -394.38% -140.56% -90.27% -90.13% -130.33% -124.53% -14,825.69% 967.60% -8,213.64% -9,779.72%
Operating Margin		 -104.08% -398.98% -172.64% -122.75% -90.44% -130.75% -124.80% -14,825.97% 967.58% -4,657.07% -5,677.38%
EBIT Margin		 -128.11% -422.40% -148.27% -90.61% -90.44% -130.65% -124.80% -14,825.97% 967.58% -8,213.66% -9,779.73%
Profit (Net Income) Margin		 -211.18% -499.34% 1,265.48% -47.18% -100.39% -109.74% -131.40% -14,832.08% 961.59% -4,656.61% -5,685.53%
Tax Burden Percent		 140.57% 109.65% -703.67% 53.00% 113.30% 84.89% 106.67% 100.08% 99.27% 100.03% 100.17%
Interest Burden Percent		 117.27% 107.81% 121.29% 98.24% 97.97% 98.95% 98.70% 99.96% 100.11% 56.68% 58.04%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.75% 0.00% 0.00%
Return on Invested Capital (ROIC)		 0.00% 0.00% 0.00% -2,154.88% -6,257.93% 0.00% -1,531.30% -145.83% 8.23% -76.51% -181.70%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00% -2,186.36% -6,224.26% 0.00% -1,516.93% 653.85% 6.13% 1,371.94% 2,053.07%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00% 1,912.67% 5,983.25% 0.00% 1,396.75% -11.15% -0.03% -17.24% -21.78%
Return on Equity (ROE)		 0.00% 444.18% 32.64% -242.21% -274.69% -276.01% -134.56% -156.99% 8.21% -93.75% -203.49%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% -1,091.59% -690.27% -232.91% -200.01% -242.91% -315.12%
Operating Return on Assets (OROA)		 0.00% -30.69% -129.02% -104.37% -119.94% -12.96% -104.67% -203.70% 8.25% -189.32% -440.85%
Return on Assets (ROA)		 0.00% -36.28% 1,101.14% -54.34% -133.14% -10.88% -110.21% -203.79% 8.19% -107.33% -256.29%
Return on Common Equity (ROCE)		 0.00% 444.72% 32.64% -242.21% -274.69% -276.16% -134.56% -156.99% 8.21% -93.75% -203.49%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 0.00% 32.64% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -0.98 -2.87 -1.18 -0.84 -0.56 -0.75 -0.65 -72 104 -514 -479
NOPAT Margin		 -72.86% -279.29% -120.85% -85.93% -63.31% -91.52% -87.36% -10,378.18% 960.29% -3,259.95% -3,974.17%
Net Nonoperating Expense Percent (NNEP)		 0.00% 25.35% 916.32% 31.48% -33.67% 4.15% -14.38% -799.68% 2.10% -1,448.45% -2,234.78%
Return On Investment Capital (ROIC_SIMPLE)		 - -84.06% -41.35% -30.54% -27.63% -36.18% -31.09% -15.99% 3.39% -21.26% -27.56%
Cost of Revenue to Revenue		 71.05% 65.87% 70.57% 71.45% 0.00% -168.86% 0.00% 70.01% 0.00% -6.96% 0.00%
SG&A Expenses to Revenue		 133.03% 193.15% 202.07% 151.30% 190.44% 399.61% 224.80% 334.60% 111.08% 182.97% 85.49%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 133.03% 433.11% 202.07% 151.30% 190.44% 399.61% 224.80% 14,855.96% -871.56% 1,210.17% 1,675.05%
Earnings before Interest and Taxes (EBIT)		 -1.73 -4.34 -1.45 -0.89 -0.80 -1.08 -0.93 -103 105 -1,295 -1,179
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -1.57 -4.05 -1.37 -0.89 -0.79 -1.07 -0.92 -103 105 -1,295 -1,179
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.00 0.00 1.68 0.73 1.29 1.11 0.96 0.01 0.94 0.73 0.73
Price to Tangible Book Value (P/TBV)		 0.00 0.00 1.69 0.73 1.30 1.12 0.97 0.09 0.94 0.73 0.73
Price to Revenue (P/Rev)		 0.00 0.00 1.02 0.47 0.67 0.63 0.59 2.08 219.17 62.68 32.30
Price to Earnings (P/E)		 0.00 0.00 5.73 0.52 0.45 0.23 0.00 0.00 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 17.44% 191.59% 224.09% 437.25% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 0.00 0.00 9.60 2.27 1.29 0.00 0.94 0.72 0.73
Enterprise Value to Revenue (EV/Rev)		 0.00 0.00 0.17 0.00 0.19 0.24 0.18 0.47 218.32 61.66 31.87
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.00 -1.36 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to Equity		 0.00 -0.15 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Financial Leverage		 0.00 -0.95 -1.04 -0.87 -0.96 -0.99 -0.92 -0.02 0.00 -0.01 -0.01
Leverage Ratio		 0.00 -21.26 1.89 1.36 1.44 -10.09 1.66 1.01 1.00 1.01 1.00
Compound Leverage Factor		 0.00 -22.92 2.29 1.34 1.41 -9.99 1.63 1.00 1.00 0.57 0.58
Debt to Total Capital		 0.00% 375.46% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Short-Term Debt to Total Capital		 0.00% 333.70% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 0.00% 41.76% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Preferred Equity to Total Capital		 0.00% 0.12% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 0.00% -275.57% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Debt to EBITDA		 0.00 -1.36 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to EBITDA		 0.00 -1.09 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to EBITDA		 0.00 -0.15 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Debt to NOPAT		 0.00 -2.06 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to NOPAT		 0.00 -1.66 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to NOPAT		 0.00 -0.23 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Altman Z-Score		 0.00 0.00 -17.86 -25.83 -33.94 -38.53 -37.16 1.54 377.03 80.55 136.93
Noncontrolling Interest Sharing Ratio		 0.00% -0.12% 0.00% 0.00% 0.00% -0.05% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 0.00 0.90 2.11 3.73 3.24 5.22 3.27 6.83 8.75 2.44 3.32
Quick Ratio		 0.00 0.04 1.72 3.13 2.58 4.04 2.45 6.05 2.51 2.26 3.19
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 0.00 0.00 -1.08 -1.19 -0.64 -1.62 -1.24 -519 -2,953 -2,904 -2,200
Operating Cash Flow to CapEx		 20,524.67% -7,814.14% -1,122,452.41% 0.00% 0.00% -451,180.07% 0.00% -64,511.04% -131,638.35% -245,623.35% 0.00%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 -3.33 -3,669.14 0.00 -3,364.82 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 57.24 -15.62 -59.52 -5,123.49 0.00 -2,630.32 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 56.96 -15.82 -59.52 -5,123.49 0.00 -2,630.91 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.00 0.07 0.87 1.15 1.33 0.10 0.84 0.01 0.01 0.02 0.05
Accounts Receivable Turnover		 0.00 11.26 12.90 6.20 8.46 7.59 9.98 1.55 32.93 73.93 100.44
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 0.00 322.94 565.16 702.60 836.08 621.10 655.33 622.42 2,099.65 0.00 0.00
Accounts Payable Turnover		 0.00 2.33 3.55 4.25 2.78 0.00 0.00 2.34 0.93 0.00 0.00
Days Sales Outstanding (DSO)		 0.00 32.43 28.29 58.84 43.15 48.10 36.57 235.59 11.09 4.94 3.63
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 0.00 156.35 102.80 85.84 131.34 0.00 0.00 155.77 393.60 0.00 0.00
Cash Conversion Cycle (CCC)		 0.00 -123.93 -74.51 -27.00 -88.19 48.10 36.57 79.82 -382.51 4.94 3.63
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 0.00 -0.48 -0.10 0.35 0.08 0.39 0.49 447 3,057 2,390 1,722
Invested Capital Turnover		 0.00 -10.24 -93.18 25.08 98.84 -74.33 17.53 0.01 0.01 0.02 0.05
Increase / (Decrease) in Invested Capital		 0.00 0.00 -0.10 0.35 0.08 0.87 0.59 447 3,057 2,390 1,721
Enterprise Value (EV)		 0.00 0.00 0.78 -0.42 0.75 0.87 0.63 1.48 2,861 1,730 1,255
Market Capitalization		 0.00 0.00 4.80 2.02 2.60 2.31 2.01 6.55 2,872 1,758 1,272
Book Value per Share		 $0.00 ($3.41) $0.87 $0.82 $0.58 $0.58 $0.30 $685.96 $18.17 $12.30 $8.82
Tangible Book Value per Share		 $0.00 ($3.47) $0.86 $0.82 $0.57 $0.58 $0.30 $106.24 $18.17 $12.30 $8.82
Total Capital		 0.00 3.41 2.85 2.76 2.02 2.08 2.08 453 3,068 2,419 1,739
Total Debt		 0.00 13 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Long-Term Debt		 0.00 1.42 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt		 0.00 10 -4.01 -2.44 -1.85 -1.44 -1.37 -5.07 -11 -29 -17
Capital Expenditures (CapEx)		 0.09 0.07 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 0.00 0.76 -1.19 0.30 0.15 0.63 0.20 3.05 24 -10 -4.29
Debt-free Net Working Capital (DFNWC)		 0.00 3.24 2.83 2.74 2.00 2.07 1.57 8.12 35 18 13
Net Working Capital (NWC)		 0.00 -8.14 2.83 2.74 2.00 2.07 1.57 8.12 35 18 13
Net Nonoperating Expense (NNE)		 1.87 2.26 -14 -0.38 0.33 0.15 0.33 31 -0.14 220 206
Net Nonoperating Obligations (NNO)		 0.00 8.92 -2.95 -2.42 -1.94 -1.70 -1.59 -5.35 -11 -29 -17
Total Depreciation and Amortization (D&A)		 0.16 0.29 0.08 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Debt-free, Cash-free Net Working Capital to Revenue		 0.00% 15.25% -25.27% 7.00% 3.90% 17.18% 5.71% 96.95% 185.44% -36.13% -10.89%
Debt-free Net Working Capital to Revenue		 0.00% 65.47% 60.20% 63.21% 51.76% 56.42% 45.81% 258.25% 270.35% 65.60% 31.97%
Net Working Capital to Revenue		 0.00% -164.45% 60.20% 63.21% 51.76% 56.42% 45.81% 258.25% 270.35% 65.60% 31.97%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.00 ($1.92) $47.52 ($1.68) ($3.00) ($35.88) ($1.84) ($4.27) $0.70 ($7.37) ($3.25)
Adjusted Weighted Average Basic Shares Outstanding		 0.00 2.76M 280.13K 282.71K 292.53K 23.91K 531.23K 24.20M 149.06M 99.72M 210.87M
Adjusted Diluted Earnings per Share		 $0.00 ($1.92) $40.32 ($1.92) ($3.00) ($35.88) ($1.84) ($4.27) $0.62 ($7.37) ($3.25)
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 2.76M 280.13K 343.44K 352.84K 28.11K 531.23K 24.20M 167.17M 99.72M 210.87M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 ($35.88) $0.00 $0.00 $0.00 ($7.37) $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 3.29M 280.13K 292.53K 298.78K 575.26K 659.68K 168.87M 196.69M 197.16M 197.21M
Normalized Net Operating Profit after Tax (NOPAT)		 -0.98 -2.87 -1.18 -0.84 -0.56 -0.75 -0.65 -15 111 -514 -345
Normalized NOPAT Margin		 -72.86% -279.29% -120.85% -85.93% -63.31% -91.52% -87.36% -2,102.18% 1,023.90% -3,259.95% -2,861.47%
Pre Tax Income Margin		 -150.23% -455.38% -179.84% -89.02% -88.61% -129.27% -123.18% -14,820.68% 968.68% -4,655.30% -5,675.72%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 -5.42 -12.03 -4.46 -2,744.34 0.00 -2,231.03 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 -3.08 -7.96 -3.64 -2,602.42 0.00 -1,562.88 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 -5.70 -12.23 -4.47 -2,744.34 0.00 -2,231.62 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 -3.36 -8.16 -3.64 -2,602.42 0.00 -1,563.46 0.00 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -12.10% 0.00%

Financials Breakdown Chart

Key Financial Trends

SharpLink Gaming’s latest quarter shows a dramatic transformation in scale, but not yet in profitability. In Q1 2026, revenue surged to $12.1 million from $15.8 million in Q4 2025 and far above the sub-$1 million levels seen in early 2025 and 2024, but the company still posted a steep net loss of $685.6 million. The quarter was heavily affected by a massive impairment charge and large other expenses, while operating cash flow remained negative.

  • Revenue jumped to $12.1 million in Q1 2026, a major step up from the sub-$1 million revenue base seen in much of 2024 and early 2025.
  • The balance sheet expanded dramatically, with total assets of $1.74 billion versus just $453.9 million in Q2 2025 and $2.8 million in Q1 2024.
  • Cash and equivalents rose to $16.9 million at the end of Q1 2026, up from $11.1 million in Q3 2025 and $1.4 million in Q1 2025.
  • Equity increased sharply to $1.74 billion, reflecting significant capital formation over the last year.
  • The company generated positive investing cash flow of $1.9 million in Q1 2026, though this was modest relative to the size of the business.
  • Revenue was lower than Q4 2025’s $15.8 million, so the latest quarter does not yet confirm a sustained upward trend.
  • Operating cash flow improved versus some prior quarters, but it was still negative at $10.6 million in Q1 2026.
  • Basic and diluted EPS were both -$3.25 in Q1 2026, reflecting continuing losses despite the larger revenue base.
  • The company has relied on large equity issuance in recent quarters, which has supported liquidity but can dilute existing shareholders.
  • Q1 2026 net income was a loss of $685.6 million, driven largely by a $191.7 million impairment charge and $494.7 million in other net expense.
  • Operating income was deeply negative at $684.6 million, showing that core profitability remains far from breakeven.
  • Operating cash flow was negative for the quarter at $10.6 million, indicating the business is still consuming cash from operations.
  • The company’s earnings have been highly volatile over the last several quarters, swinging from a $104.3 million profit in Q3 2025 to a large loss in Q4 2025 and an even bigger loss in Q1 2026.

Longer-term trend: SharpLink Gaming’s revenue has improved materially since 2024, and its asset base and equity position have grown dramatically. However, the income statement remains extremely erratic, and the latest quarter was dominated by non-cash charges rather than operational strength. For retail investors, the key takeaway is that the company now has a much larger financial footprint, but sustainable profitability and consistent operating cash generation are still not evident.

07/12/26 02:40 PM ETAI Generated. May Contain Errors.

Sharplink Gaming Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Sharplink Gaming's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Sharplink Gaming's net income appears to be on an upward trend, with a most recent value of -$734.59 million in 2025, rising from -$15.23 million in 2022. The previous period was $10.10 million in 2024. See Sharplink Gaming's forecast for analyst expectations on what's next for the company.

Sharplink Gaming's total operating income in 2025 was -$733.92 million, based on the following breakdown:
  • Total Gross Profit: $28.06 million
  • Total Operating Expenses: $201.01 million

Over the last 3 years, Sharplink Gaming's total revenue changed from $3.49 million in 2022 to $28.06 million in 2025, a change of 703.9%.

Sharplink Gaming's total liabilities were at $12.75 million at the end of 2025, a 2,507.2% increase from 2024, and a 79.5% decrease since 2022.

In the past 3 years, Sharplink Gaming's cash and equivalents has ranged from $1.38 million in 2022 to $28.54 million in 2025, and is currently $28.54 million as of their latest financial filing in 2025.

Over the last 3 years, Sharplink Gaming's book value per share changed from 1.20 in 2022 to 12.30 in 2025, a change of 925.8%.


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Financial statements for NASDAQ:SBET last updated on 7/9/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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