Sharplink Inc Financials
This page shows Sharplink Inc (SBET) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 4 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
Sharplink Inc has an operating margin of -2616.0%, meaning the company retains $-2616 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is down from -130.1% the prior year.
Sharplink Inc's revenue surged 666.1% year-over-year to $28.1M, reflecting rapid business expansion. This strong growth earns a score of 100/100.
Sharplink Inc carries a low D/E ratio of 0.01, meaning only $0.01 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.
Sharplink Inc's current ratio of 2.44 indicates adequate short-term liquidity, earning a score of 46/100. The company can meet its near-term obligations, though with limited headroom.
While Sharplink Inc generated -$17.5M in operating cash flow, capex of $11K consumed most of it, leaving -$17.6M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.
Sharplink Inc generates a -30.4% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is down from 485.1% the prior year.
Sharplink Inc passes 1 of 9 financial strength tests. 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.
For every $1 of reported earnings, Sharplink Inc generates $0.02 in operating cash flow (-$17.5M OCF vs -$734.6M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Key Financial Metrics
Earnings & Revenue
Sharplink Inc generated $28.1M in revenue in fiscal year 2025. This represents an increase of 666.1% from the prior year.
Sharplink Inc's EBITDA was -$733.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 15347.4% from the prior year.
Sharplink Inc reported -$734.6M in net income in fiscal year 2025. This represents a decrease of 7373.9% from the prior year.
Sharplink Inc earned $-7.37 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 126.7% from the prior year.
Cash & Balance Sheet
Sharplink Inc generated -$17.6M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 23.1% from the prior year.
Sharplink Inc held $28.5M in cash against $0 in long-term debt as of fiscal year 2025.
Sharplink Inc had 197M shares outstanding in fiscal year 2025. This represents an increase of 48194.5% from the prior year.
Margins & Returns
Sharplink Inc's operating margin was -2616.0% in fiscal year 2025, reflecting core business profitability. This is down 2485.9 percentage points from the prior year.
Sharplink Inc's net profit margin was -2618.4% in fiscal year 2025, showing the share of revenue converted to profit. This is down 2894.2 percentage points from the prior year.
Sharplink Inc's ROE was -30.4% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 515.4 percentage points from the prior year.
Capital Allocation
Sharplink Inc spent $31.7M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding.
Sharplink Inc invested $11K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 450.0% from the prior year.
SBET Income Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $15.8M+45.5% | $10.8M+1455.1% | $697K-6.0% | $742K-9.9% | $823K-6.6% | $882K-10.1% | $981K+0.5% | $976K |
| Cost of Revenue | N/A | N/A | $488K-20.0% | $610K-7.2% | $657K-7.3% | $709K+1.1% | $701K+1.8% | $689K |
| Gross Profit | N/A | N/A | $209K+58.6% | $132K-20.7% | $166K-3.7% | $173K-38.4% | $280K-2.5% | $287K |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $27.0M+123.8% | $12.0M+416.3% | $2.3M+120.7% | $1.1M-14.9% | $1.2M+28.0% | $970K-34.7% | $1.5M-24.7% | $2.0M |
| Operating Income | -$734.5M-800.1% | $104.9M+201.5% | -$103.4M-11069.7% | -$926K+14.0% | -$1.1M-35.0% | -$797K+33.8% | -$1.2M+28.5% | -$1.7M |
| Interest Expense | N/A | N/A | N/A | N/A | $482 | $0-100.0% | $324-99.9% | $324K |
| Income Tax | $224K-71.8% | $792K+2803.9% | $27K+871.7% | $3K+105.0% | -$56K-927.7% | $7K-84.4% | $43K+659.7% | $6K |
| Net Income | -$734.5M-804.4% | $104.3M+200.8% | -$103.4M-10508.5% | -$975K-7.9% | -$903K-2.0% | -$885K-91.2% | -$463K-103.7% | $12.4M |
| EPS (Diluted) | N/A | $0.62+114.5% | $-4.27 | $-1.84 | N/A | $-3.02-123.7% | $-1.35-103.3% | $40.31 |
SBET Balance Sheet
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $2.4B-20.9% | $3.1B+577.0% | $453.9M+16241.1% | $2.8M+8.0% | $2.6M-11.8% | $2.9M-22.5% | $3.8M-30.3% | $5.4M |
| Current Assets | $31.2M-22.1% | $40.0M+320.5% | $9.5M+320.2% | $2.3M-11.4% | $2.6M-11.8% | $2.9M-22.6% | $3.7M-30.4% | $5.4M |
| Cash & Equivalents | $28.5M+156.5% | $11.1M+119.4% | $5.1M+268.9% | $1.4M-4.3% | $1.4M-22.3% | $1.9M-24.0% | $2.4M-39.3% | $4.0M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $221K-34.8% | $339K+24.7% | $272K-15.8% | $323K+21.9% | $265K-42.0% | $457K+38.6% | $330K-9.4% | $364K |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $12.7M+178.8% | $4.6M+228.2% | $1.4M+101.0% | $693K+41.7% | $489K-45.4% | $895K-10.7% | $1.0M-60.6% | $2.5M |
| Current Liabilities | $12.7M+178.8% | $4.6M+228.2% | $1.4M+101.0% | $693K+41.7% | $489K-45.4% | $895K-10.7% | $1.0M-60.6% | $2.5M |
| Long-Term Debt | N/A | N/A | N/A | N/A | $0 | $0 | $0 | N/A |
| Total Equity | $2.4B-21.2% | $3.1B+578.1% | $452.5M+21607.6% | $2.1M+0.1% | $2.1M+3.1% | $2.0M-26.8% | $2.8M-3.2% | $2.9M |
| Retained Earnings | -$812.4M-942.4% | -$77.9M+57.2% | -$182.2M-131.3% | -$78.8M-1.3% | -$77.8M-1.2% | -$76.9M-1.2% | -$76.0M-0.6% | -$75.6M |
SBET Cash Flow Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$9.1M-45.6% | -$6.3M-286.1% | -$1.6M-216.0% | -$514K+59.5% | -$1.3M-114.4% | -$591K+64.4% | -$1.7M+91.4% | -$19.3M |
| Capital Expenditures | $4K-22.0% | $5K | N/A | N/A | $281 | $0 | $0-100.0% | $2K |
| Free Cash Flow | -$9.1M-45.6% | -$6.3M | N/A | N/A | -$1.3M-114.5% | -$591K+64.4% | -$1.7M+91.4% | -$19.3M |
| Investing Cash Flow | -$49.6M+98.0% | -$2.5B-515.6% | -$405.8M-81063.8% | -$500K-111756.8% | -$447 | $0 | $0+100.0% | -$18.7M |
| Financing Cash Flow | $76.1M-97.0% | $2.5B+510.7% | $411.1M+45217.1% | $907K+13.7% | $798K | $0-100.0% | $71K+100.4% | -$18.2M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | -$488 | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
SBET Financial Ratios
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | 30.0%+12.2pp | 17.8%-2.4pp | 20.2%+0.6pp | 19.6%-9.0pp | 28.5%-0.9pp | 29.4% |
| Operating Margin | -4657.1%-5624.7pp | 967.6%+15793.6pp | -14826.0%-14701.2pp | -124.8%+6.0pp | -130.8%-40.3pp | -90.4%+32.3pp | -122.8%+49.9pp | -172.6% |
| Net Margin | -4656.6%-5618.2pp | 961.6%+15793.7pp | -14832.1%-14700.6pp | -131.4%-21.7pp | -109.7%-9.3pp | -100.4%-53.2pp | -47.2%-1312.7pp | 1265.5% |
| Return on Equity | -30.4%-33.8pp | 3.4%+26.3pp | -22.9%+23.9pp | -46.8%-3.4pp | -43.4%+0.4pp | -43.8%-27.0pp | -16.8%-449.8pp | 433.0% |
| Return on Assets | -30.2%-33.6pp | 3.4%+26.2pp | -22.8%+12.3pp | -35.1%+0.0pp | -35.1%-4.8pp | -30.4%-18.1pp | -12.3%-241.2pp | 228.8% |
| Current Ratio | 2.44-6.3 | 8.75+1.9 | 6.83+3.6 | 3.27-2.0 | 5.22+2.0 | 3.24-0.5 | 3.73+1.6 | 2.11 |
| Debt-to-Equity | 0.010.0 | 0.000.0 | 0.00-0.3 | 0.33+0.3 | 0.000.0 | 0.000.0 | 0.00-0.9 | 0.89 |
| FCF Margin | -57.9%-0.0pp | -57.9% | N/A | N/A | -154.1%-87.0pp | -67.0%+102.1pp | -169.2%+1808.1pp | -1977.2% |
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Frequently Asked Questions
What is Sharplink Inc's annual revenue?
Sharplink Inc (SBET) reported $28.1M in total revenue for fiscal year 2025. This represents a 666.1% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Sharplink Inc's revenue growing?
Sharplink Inc (SBET) revenue grew by 666.1% year-over-year, from $3.7M to $28.1M in fiscal year 2025.
Is Sharplink Inc profitable?
No, Sharplink Inc (SBET) reported a net income of -$734.6M in fiscal year 2025, with a net profit margin of -2618.4%.
What is Sharplink Inc's EBITDA?
Sharplink Inc (SBET) had EBITDA of -$733.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Sharplink Inc's operating margin?
Sharplink Inc (SBET) had an operating margin of -2616.0% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Sharplink Inc's net profit margin?
Sharplink Inc (SBET) had a net profit margin of -2618.4% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Sharplink Inc's return on equity (ROE)?
Sharplink Inc (SBET) has a return on equity of -30.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Sharplink Inc's free cash flow?
Sharplink Inc (SBET) generated -$17.6M in free cash flow during fiscal year 2025. This represents a 23.1% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Sharplink Inc's operating cash flow?
Sharplink Inc (SBET) generated -$17.5M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Sharplink Inc's total assets?
Sharplink Inc (SBET) had $2.4B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Sharplink Inc's capital expenditures?
Sharplink Inc (SBET) invested $11K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Sharplink Inc's current ratio?
Sharplink Inc (SBET) had a current ratio of 2.44 as of fiscal year 2025, which is generally considered healthy.
What is Sharplink Inc's debt-to-equity ratio?
Sharplink Inc (SBET) had a debt-to-equity ratio of 0.01 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Sharplink Inc's return on assets (ROA)?
Sharplink Inc (SBET) had a return on assets of -30.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Sharplink Inc's cash runway?
Based on fiscal year 2025 data, Sharplink Inc (SBET) had $28.5M in cash against an annual operating cash burn of $17.5M. This gives an estimated cash runway of approximately 20 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
What is Sharplink Inc's Piotroski F-Score?
Sharplink Inc (SBET) has a Piotroski F-Score of 1 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Sharplink Inc's earnings high quality?
Sharplink Inc (SBET) has an earnings quality ratio of 0.02x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Sharplink Inc?
Sharplink Inc (SBET) scores 41 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.