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SBETSharplink, Inc.
$5.67$1.1B
Overview & Verdict
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SBET logoSharplink, Inc.(SBET)Earnings, Financials & Key Ratios

SBET•NASDAQ
$5.67
Price updated Jul 6, 2026
SectorConsumer CyclicalIndustryCasinos & GamingSub-IndustryGaming Affiliate and Performance Marketing
AboutSharpLink Gaming Ltd. operates as an online technology company that connects sports fans, leagues, and sports websites to sports betting and iGaming content. It operates through Affiliate Marketing Services – United States, Sports Gaming Client Services, Enterprise Telecom Expense Management, and Affiliate Marketing Services – International segments. The company collects information on potential U.S. domiciled sports bettors, connects them with contextual sports betting content, and converts them to paying sports betting customers, as well as offers sports betting data to sports media publishers. It also provides development, hosting, operations, maintenance, and service of free-to-play games and contests; and solutions for telecommunications expense management, enterprise mobility management, call usage, and accounting software, as well as iGaming and affiliate marketing network, which focuses on delivering quality traffic and player acquisitions, and retention and conversions to global iGaming operator partner worldwide. The company was founded in 2019 and is headquartered in Minneapolis, Minnesota.Show more
  • Revenue$28M+666.0%
  • EBITDA-$33M-589.1%
  • Net Income-$735M-7373.4%
  • EPS (Diluted)-7.37+53.7%
  • Gross Margin93.22%+276.7%
  • EBITDA Margin-116.7%+10.0%
  • Operating Margin-116.73%+10.2%
  • Net Margin-2618.38%-1049.5%
  • ROE-60.68%-112.5%

SBET Price & Volume

Sharplink, Inc. (SBET) stock price & volume — 10-year historical chart

Loading chart...

Acquisition Driven Growth Masks Structural Profitability Risks

Investment Thesis • Updated 2026Q1

VerdictNeutral
Growth:Accelerating
Profitability:Negative
Financial:Vulnerable
Cash Flow:Burning
Primary Risk:Goodwill Impairment and Liquidity

Key Thesis Takeaways

  • Sharplink's recent revenue surge to $12.1 million in 2026Q1 appears primarily driven by aggressive inorganic acquisition activity rather than organic operational scaling.
  • While the company maintains a high 96.4% gross margin, the persistent inability to convert this into positive free cash flow, evidenced by a -88.3% FCF margin, raises significant concerns regarding long-term sustainability.
  • Investors should monitor the $1.7 billion in goodwill, which constitutes nearly the entire asset base and suggests a high risk of future impairment charges.

Verdict Logic

Negative: The company's reliance on inorganic growth and a persistent -88.3% FCF margin indicate an unsustainable burn rate that threatens long-term shareholder value.

SBET Growth Metrics

Sharplink, Inc. (SBET) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years6.67%
5 Years65.22%
3 Years100.32%
TTM1048.48%

Profit CAGR

10 Years-
5 Years-
3 Years-
TTM-43896.68%

EPS CAGR

10 Years-
5 Years-
3 Years-
TTM-16.94%

Return on Capital

10 Years-109.77%
5 Years-198.8%
3 Years-158.65%
Last Year-2.71%

SBET Recent Earnings

Sharplink, Inc. (SBET) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 2/12 qtrs (67%)●Beat Revenue 0/12 qtrs (0%)
Q2 2026Latest
May 8, 2026
Metric
Actual
Est
EPS
$0.06+200.0%
$0.02
Rev
$12M-17.4%
$15M
Q2 2026
Mar 9, 2026
Metric
Actual
Est
EPS
$3.55-2188.2%
$0.17
Rev
$15M-12.5%
$17M
Q4 2025
Nov 12, 2025
Metric
Actual
Est
EPS
$0.02+75.0%
$0.08
Rev
$11M-36.9%
$17M
Q3 2025
Aug 14, 2025
Metric
Actual
Est
EPS
$0.64
—
Rev
$697,291
—
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestMay 8, 2026
$0.06vs $0.02+200.0%
$12Mvs $15M-17.4%
Q2 2026Mar 9, 2026
$3.55vs $0.17-2188.2%
$15Mvs $17M-12.5%
Q4 2025Nov 12, 2025
$0.02vs $0.08+75.0%
$11Mvs $17M-36.9%
Q3 2025Aug 14, 2025
$0.64
$697,291
Based on last 12 quarters of dataView full earnings history →

Latest SBET News

Recent stock market news and headlines for Sharplink, Inc. (SBET)

PRNewsWire·4 days ago
Ethereum Institutional startet als unabhängige gemeinnützige Organisation, um institutionelle Finanzgeschäfte in großem Maßstab auf die Blockchain zu bringen

/PRNewswire/ -- Ethereum Institutional, eine unabhängige gemeinnützige Organisation, gab heute ihren öffentlichen Start als spezielle Anlaufstelle für

PRNewsWire·6 days ago
Ethereum Institutional se lanza como una organización independiente sin ánimo de lucro

/PRNewswire/ -- Ethereum Institutional, una organización independiente sin ánimo de lucro, anunció hoy su lanzamiento público como la principal plataforma

PRNewsWire·6 days ago
Ethereum Institutional Launches as Independent Non-Profit to Bring Institutional Finance Onchain at Scale

Bitmine, Sharplink and Joe Lubin fund a new dedicated go-to-market organization built by Ethereum Foundation alumni NEW YORK, July 1, 2026 /PRNewswire/ -- Ethereum Institutional, an independent non-profit organization, today announced its public launch as the dedicated institutional front door for the Ethereum ecosystem. The organization consolidates a year of institutional engagement work led by the Ethereum Foundation's go-to-market team, housing it in an independent organization with a sharper mission, broader geographic footprint and long-term funding.

GlobeNewsWire·Jun 30, 2026
Sharplink Acquires 10,000 ETH, Bringing Total ETH Holdings to 886,725; Repurchases Over 2.1 Million Shares of Common Stock

MIAMI, June 30, 2026 (GLOBE NEWSWIRE) -- Sharplink, Inc. (Nasdaq: SBET) ("Sharplink" or the "Company"), one of the world's largest corporate holders of Ether ("ETH") and a prominent industry advocate of Ethereum adoption, today announced the purchase of 10,000 ETH at an average price of $1,611 per ETH, bringing total ETH holdings1 to 886,725. The Company also announced the repurchase of 2,132,773 shares of its common stock in the open market at an average purchase price of $4.69 per share in connection with its ongoing stock buyback program.

PRNewsWire·Jun 22, 2026
Ethlabs, Founded by Former Ethereum Foundation Contributors and Funded by Bitmine, Sharplink and Joe Lubin, Launches to Accelerate Ethereum's Institutional Supercycle

/PRNewswire/ -- A coordinated group of Ethereum ecosystem stewards today announced the launch of Ethlabs, an independent, nonprofit research and development

Peers Comparison

Key metrics vs top competitors for Sharplink, Inc. (SBET)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
SBET logoSBETSharplink, Inc.Current
$5.67$1.12B-0.77666.04%-2618.38%-60.68%—
GENI logoGENIGenius Sports Limited
$6.62$1.7B-15.0531.04%-22.27%-22.2%—
RILY logoRILYBRC Group Holdings, Inc.
$7.62$282.94M0.78-11.45%35.63%——
DKNG logoDKNGDraftKings Inc.
$26.21$12.99B-3235.8026.99%0.93%7.88%—
PENN logoPENNPENN Entertainment, Inc.
$21.15$2.83B-3.635.82%-13.54%-44.61%—
RSI logoRSIRush Street Interactive, Inc.
$32.22$3.44B230.1422.76%2.98%12.91%—

Compare SBET vs Peers

Sharplink, Inc. (SBET) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs GENI

Most directly comparable listed peer for SBET.

Scale Benchmark

vs SOFI

Larger-name benchmark to compare SBET against a more recognizable public peer.

Peer Set

Compare Top 5

vs GENI, RILY, DKNG, PENN

SBET SEC Filings & Documents

Sharplink, Inc. (SBET) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

May 11, 2026·SEC

Material company update

Apr 14, 2026·SEC

Material company update

Apr 3, 2026·SEC

10-K Annual Reports

1
FY 2026

Mar 9, 2026·SEC

10-Q Quarterly Reports

4
FY 2026

May 8, 2026·SEC

FY 2025

Nov 12, 2025·SEC

FY 2025

Aug 14, 2025·SEC

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SBET Frequently Asked Questions

Sharplink, Inc. (SBET) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
What is Sharplink, Inc.'s revenue?

Sharplink, Inc. (SBET) reported $39.4M in revenue for fiscal year 2025. This represents a 302% increase from $9.8M in 2002.

How fast is Sharplink, Inc. growing?

Sharplink, Inc. (SBET) grew revenue by 666.0% over the past year. This is strong growth.

Is SBET profitable?

Sharplink, Inc. (SBET) reported a net loss of $1.42B for fiscal year 2025.

Dividend & Returns
What is SBET's return on equity?

Sharplink, Inc. (SBET) has a return on equity (ROE) of -60.7%. Negative ROE indicates the company is unprofitable.

What is Sharplink, Inc.'s free cash flow?

Sharplink, Inc. (SBET) had negative free cash flow of $28.7M in fiscal year 2025, likely due to heavy capital investments.

What if you invested $1,000 in SBET back in 2002?

Total return calculator · dividends reinvested · 24+ years of data

See returns →