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MARKETS / NASDAQ / SBET
NASDAQ · FINANCE SERVICES · SMALL CAP

Sharplink, Inc. SBET

4 fiscal years on record · USD · FY2025 reported · SEC filings only
$28.1M
▲ 666.1% YoY
$-734.6M
▼ 7373.9% YoY
$-17.6M
In brief

What this company does

The Company also operates an online affiliate marketing company that delivers unique fan activation solutions to its sportsbook and online casino gaming partners. Through our iGaming affiliate marketing network, known as PAS.net, Sharplink focuses on driving qualified traffic and player acquisitions, retention and conversions to U.S. regulated and global iGaming operator partners worldwide. Our decision to accumulate ETH as a core treasury asset is grounded in a forward-looking view of the evolving global financial ecosystem.

Written from the business description in Sharplink, Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 9 March 2026. Every sentence was checked against that document before publication.

Growth
USD 28.1M
Revenue, FY2025 · full 4-year series below
Revenue $M Net income $M
FY2025 · Revenue 28.1 · Net income -734.6
-250.0M-500.0M2022202320242025
Compound annual growth
+100.3%
3 yrs
5 yrs
10 yrs
15 yrs

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
−2618 cents
lost on every revenue dollar
Operating margin Net margin
FY2025 · Operating -2616.0% · Net -2618.4%
-1000%-2000%2022202320242025
ROE
FY2025 · ROE -60.7%
-50%-100%-150%2022202320242025

Each USD of equity lost 61 cents this year.

Cash & shareholders
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF -17.6
-8M-16M2022202320242025
Net buybacks $B Dividends $B
FY2025 · Dividends — · Net buybacks -2.1
-0.8B-1.6B2025

Total assetsUSD 2.4B
EquityUSD 2.4B
CashUSD 28.5M
Current ratio2.44×

Equity funds 99% of total assets.

The 4-year record
4 fiscal years
Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative
Metric 2025202420232022
Revenue $B0.00.00.00.0
Operating income $B−0.7−0.0−0.0−0.0
EBITDA $B−0.7−0.0−0.0−0.0
Income tax $B0.0−0.00.0−0.0
Net income $B−0.70.0−0.0−0.0
Free cash flow $B−0.0−0.00.0−0.0
EPS, diluted $−7.3727.62−5.17−6.13
Dividend / sh $····
Payout %····
ROE %−60.7··−177.4
Shares out B0.200.000.000.00

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance
Company facts, as filed
How we verify · 0 failures in 20 reconciliationsAUDITED

Reconciled in 5 of 19 fiscal years. 75 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures
ActivityFinance Services
Listed onNASDAQ
Incorporated inDelaware
Fiscal year endsDecember 31
SEC categorysmaller reporting company
Data on record since2021

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