Sharplink (SBET) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 26, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 7, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the SBET SEC filings page.
Sharplink, Inc. (SBET) reported $28.1M in revenue for fiscal year 2025, up 666.1% from the prior fiscal year. This page shows its 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).
FY2025 shows a capital-heavy balance sheet, while revenue growth was overwhelmed by a reported operating loss and continuing cash outflow.
Revenue increased to$28.1M in FY2025 while SG&A reached$42.4M , so expansion did not translate into operating leverage. The operating margin then fell2,485.9 percentage points from FY2024, indicating that the period's economics were shaped by costs far beyond routine administrative spending.
The net loss was
Assets expanded to
Financial Health Signals
Scored against banks for FY2025. Each of the six dimensions is a percentile rank within that peer group, and the overall is the average of the dimensions that can be computed: here 4 of 6, with the others left out rather than counted as zero. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Sharplink, Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Sharplink, Inc. earned a return on assets of -30.2% in fiscal year 2025, which is the profit it made on every dollar of assets on its books. This is down from 392.8% the prior year. Earnings ranks banks on that return over three years, and Sharplink, Inc. scores 4/100 among other banks.
Sharplink, Inc. reported revenue of $28.1M in fiscal year 2025, against $3.7M in fiscal year 2024. Growth ranks banks on the three-year path of their net revenue, which is interest income and fee income less the interest they pay out, and Sharplink, Inc. scores 98/100 among other banks.
Sharplink, Inc. funded 99.5% of its assets with shareholders' equity at the end of fiscal year 2025, holding $2.4B of equity against $2.4B of assets. Capital ranks banks on that cushion, and Sharplink, Inc. scores 100/100 among other banks.
Not available for Sharplink, Inc., so it is left out of the overall score, which averages the 4 of 6 dimensions that can be computed.
Not available for Sharplink, Inc., so it is left out of the overall score, which averages the 4 of 6 dimensions that can be computed.
Sharplink, Inc. reported a net loss of $734.6M in fiscal year 2025, against $10.1M in fiscal year 2024. Stability ranks banks on how steady net income has been across five years, and Sharplink, Inc. scores 11/100 among other banks.
Sharplink, Inc. passes 1 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), the one computable operating efficiency signal (asset turnover improving) does not pass.
Key Financial Metrics
Earnings & Revenue
Sharplink, Inc. generated $11.5M in revenue in Q2 2026. This represents an increase of 1553.9% from the same quarter a year earlier. Against the prior quarter it is down 4.4%.
Sharplink, Inc. reported a net loss of $394.3M in Q2 2026. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.
Sharplink, Inc. earned -$1.88 per diluted share (EPS) in Q2 2026. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.
Not reported for Q2 2026.
Cash & Balance Sheet
Sharplink, Inc. held $56.2M in cash as of Q2 2026; no long-term debt figure is on record for that period.
Not reported for Q2 2026.
Not reported for Q2 2026.
Margins & Returns
Sharplink, Inc.'s quarterly ROE was -28.0% in Q2 2026: one quarter's net income over shareholder equity, not annualized. This is down 5.1 percentage points from the same quarter a year earlier. Against the prior quarter it is up 11.5 percentage points.
Not reported for Q2 2026.
Not shown for Q2 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not shown for Q2 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Capital Allocation
None of these metrics is reported for Q2 2026.
SBET Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $11.5M+1553.9% | $12.1M+1525.1% | $15.8M+1816.2% | $10.8M+1129.9% | $697K-29.0% | $742K-24.0% | $823K-19.9% | $882K-34.7% |
| Cost of Revenue | N/A | N/A | N/A | N/A | $488K-30.4% | $610K-11.4% | $657K-2.9% | $709K-26.0% |
| Gross Profit | N/A | N/A | N/A | N/A | $209K-25.4% | $132K-54.1% | $166K-52.6% | $173K-55.8% |
| SG&A Expenses | $9.1M+279.6% | $9.9M+833.5% | $26.9M+2065.7% | $12.0M+1141.7% | $2.4M+60.8% | $1.1M-46.4% | $1.2M-37.4% | $970K-46.0% |
| Operating Income | -$393.5Mn/m | -$684.6Mn/m | -$734.5Mn/m | $104.9Mn/m | -$103.4Mn/m | -$926Kn/m | -$1.1Mn/m | -$797Kn/m |
| EBITDA | N/A | -$684.6Mn/m | -$734.5Mn/m | $104.9Mn/m | -$103.4Mn/m | -$924Kn/m | -$1.1Mn/m | -$795Kn/m |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | $482-99.9% | $0-100.0% |
| Income Tax | $999K+3600.0% | $1.2M+39333.3% | $224Kn/m | $792K+11664.6% | $27K-37.4% | $3K-47.1% | -$56Kn/m | $7K+2044.9% |
| Net Income | -$394.3Mn/m | -$685.6Mn/m | -$734.5Mn/m | $104.3Mn/m | -$103.4Mn/m | -$975K-107.9% | -$903Kn/m | -$885Kn/m |
| EPS (Basic) | -$1.88 | -$3.25 | N/A | $0.70 | -$4.27 | -$1.84 | -$4.18 | -$3.02 |
| EPS (Diluted) | -$1.88 | -$3.25 | N/A | $0.62 | -$4.27 | -$1.84 | -$2.50 | -$3.02 |
| Diluted Shares (Avg) | 210M | 211M | N/A | 167M | 24M | 531,226 | N/A | 292,528 |
Not reported in any period shown, so not listed: R&D Expenses.
SBET Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $1.4B+212.0% | $1.7B+62686.5% | $2.4B+94484.4% | $3.1B+105313.7% | $453.9M+11963.7% | $2.8M-48.5% | $2.6M-96.4% | $2.9M |
| Current Assets | $57.4M+502.9% | $18.0M+696.3% | $31.2M+1119.3% | $40.0M+1281.3% | $9.5M+154.3% | $2.3M-57.9% | $2.6M-96.4% | $2.9M |
| Cash & Equivalents | $56.2M+1001.4% | $16.9M+1127.3% | $28.5M+1752.0% | $11.1M+501.5% | $5.1M+109.5% | $1.4M-65.7% | $1.5M-38.0% | $1.9M-31.6% |
| Short-Term Investments | N/A | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m |
| Accounts Receivable | $280K+3.0% | $461K+42.7% | $221K-16.6% | $339K-25.8% | $272K-17.6% | $323K-11.3% | $265K-36.2% | $457K+10.1% |
| Long-Term Investments | N/A | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m |
| Total Liabilities | $5.6M+300.0% | $5.4M+684.4% | $12.7M+2507.2% | $4.6M+410.9% | $1.4M+39.1% | $693K-72.8% | $489K-99.4% | $895K |
| Current Liabilities | $5.5M+293.8% | $5.4M+684.4% | $12.7M+2507.2% | $4.6M+410.9% | $1.4M+39.1% | $693K-72.8% | $489K-99.4% | $895K |
| Non-Current Liabilities | $86Kn/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0-100.0% | $0 |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | $0-100.0% | $0 |
| Total Equity | $1.4B+211.7% | $1.7B+83286.1% | $2.4B+115975.7% | $3.1B+151790.8% | $452.5M+16290.2% | $2.1M-26.9% | $2.1Mn/m | $2.0Mn/m |
| Retained Earnings | -$1.9Bn/m | -$1.5Bn/m | -$812.4Mn/m | -$77.9Mn/m | -$182.2Mn/m | -$78.8Mn/m | -$77.8Mn/m | -$76.9M |
Not reported in any period shown, so not listed: Inventory, Goodwill.
SBET Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$7.2Mn/m | -$10.6Mn/m | -$9.1Mn/m | -$6.3Mn/m | -$1.6Mn/m | -$514Kn/m | -$1.3Mn/m | -$591K-103.2% |
| Depreciation & Amortization | N/A | $1K-50.0% | $3K+17.9% | $2K-22.5% | $2K-40.7% | $2K-41.7% | $2K-90.4% | $3K-91.2% |
| Stock-Based Compensation | N/A | $3.0M+4249.3% | N/A | N/A | N/A | $69K+129.2% | N/A | N/A |
| Capital Expenditures | N/A | N/A | $4K+1223.1% | $5Kn/m | N/A | N/A | $281+13950.0% | $0-100.0% |
| Free Cash Flow | N/A | N/A | -$9.1Mn/m | -$6.3Mn/m | N/A | N/A | -$1.3Mn/m | -$591K-103.2% |
| Investing Cash Flow | -$16.8Mn/m | $1.9Mn/m | -$49.6Mn/m | -$2.5Bn/m | -$405.8Mn/m | -$500Kn/m | -$447n/m | $0n/m |
| Financing Cash Flow | $63.3M-84.6% | -$2.9M-419.3% | $76.1M+9441.7% | $2.5Bn/m | $411.1M+576040.8% | $907Kn/m | $798K-58.5% | $0-100.0% |
| Share Buybacks | N/A | N/A | -$488 | N/A | N/A | N/A | N/A | N/A |
Not reported in any period shown, so not listed: Dividends Paid.
SBET Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | 30.0%+1.5pp | 17.8%-11.7pp | 20.2%-13.9pp | 19.6%-9.4pp |
| Operating Margin | -3413.0% | -5677.4% | -4656.7% | 967.6% | -14839.7% | -124.8% | -130.8% | -90.4% |
| Net Margin | -3420.1% | -5685.5% | -4656.6% | 961.6% | -14838.3% | -131.4% | -109.7% | -100.4% |
| Return on Equity | -28.0%-5.1pp | -39.4%+7.3pp | -30.4%+13.0pp | 3.4%+47.2pp | -22.9%-6.1pp | -46.8%-479.8pp | -43.3% | -43.8% |
| Return on Assets | -27.8%-5.1pp | -39.3%-4.2pp | -30.2%+4.9pp | 3.4%+33.8pp | -22.8%-10.5pp | -35.1%-263.9pp | -35.1%-27.9pp | -30.4% |
| Current Ratio | 10.45+3.6x | 3.320.0x | 2.44-2.8x | 8.75+5.5x | 6.83+3.1x | 3.27+1.2x | 5.22+4.3x | 3.24 |
| Debt-to-Equity | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 | 0.00 |
| Liabilities-to-Equity | 0.000.0x | 0.00-0.3x | 0.01-0.2x | 0.00-0.4x | 0.00-0.4x | 0.33-0.6x | 0.23 | 0.44 |
| Asset Turnover | 0.010.0x | 0.01-0.3x | 0.01-0.3x | 0.00-0.3x | 0.00-0.3x | 0.27+0.1x | 0.32+0.3x | 0.30 |
| FCF Margin | N/A | N/A | -57.9% | -57.9%+9.2pp | N/A | N/A | -154.1% | -67.0% |
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin, FCF Margin.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Sharplink, Inc. SBET | FY2025 | $28.1M | -$734.6M | N/A | $1.6B | 53/100 |
| Rush Street Interactive, Inc. RSI | FY2025 | $1.1B | $33.3M | 2.9% | $3.8B | 52/100 |
| Super Group (SGHC) Limited SGHC | FY2025 | $2.2B | $218.0M | 9.8% | $5.5B | 74/100 |
| Churchill Downs Inc CHDN | FY2025 | $2.9B | $383.0M | 13.1% | $5.9B | 53/100 |
| DraftKings Inc. DKNG | FY2025 | $6.1B | $3.7M | 0.1% | $10.5B | 37/100 |
Where Sharplink, Inc. Ranks
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 loss of $734.6M in fiscal year 2025.
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 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) recorded an outflow of $17.6M in free cash flow during fiscal year 2025. 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) recorded an outflow of $17.5M in operating cash flow during fiscal year 2025, representing cash used by 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 liabilities-to-equity ratio?
Sharplink, Inc. (SBET) had a liabilities-to-equity ratio of 0.01 as of fiscal year 2025, which is total liabilities divided by total shareholder equity. Total liabilities counts every obligation on the balance sheet (payables, deposits, insurance reserves and deferred taxes as well as borrowings), so this ratio usually runs well above debt-to-equity. No debt-to-equity ratio is shown for fiscal year 2025, because the filing data we hold for that year carries no long-term debt figure.
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 P/E ratio?
Sharplink, Inc. (SBET) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (trailing 12 months to June 30, 2026). The market capitalization is $1.6B as of Oct 26, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Sharplink, Inc.'s price-to-sales ratio?
Sharplink, Inc. (SBET) trades at 31.1x sales, its market capitalization divided by $50.2M revenue, trailing 12 months to June 30, 2026. The market capitalization is $1.6B as of Oct 26, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Sharplink, Inc.'s Piotroski F-Score?
Sharplink, Inc. (SBET) has a Piotroski F-Score of 1 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
How financially healthy is Sharplink, Inc.?
Sharplink, Inc. (SBET) scores 53 out of 100 on our Financial Health Score, indicating moderate standing within its banks peer group. The score is the average of six dimensions (Earnings, Growth, Capital, Efficiency, Credit Quality, Stability), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. For Sharplink, Inc. it averages the 4 of 6 dimensions that can be computed; the others are left out rather than counted as zero. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.