Sharplink, Inc. SBET
undertook a significant strategic shift in June 2025 in our business operations by becoming one of the world's largest publicly
traded companies to adopt Ether ("ETH"), the native token of the Ethereum blockchain, as its primary treasury asset. This
strategy reflects the Company's commitment to align our corporate treasury with the future of programmable finance, digital capital
markets and decentralized infrastructure. The Company also operates an online affiliate marketing company that delivers unique fan activation
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Revenue | $28.1M | $3.7M | $5.0M | $3.5M | — |
| Cost of revenue | — | $2.8M | $3.4M | $2.2M | — |
| Gross profit | — | $906.3K | $1.5M | $1.3M | — |
| SG&A | $42.4M | $5.7M | $8.0M | $10.9M | — |
| Total operating expenses | $201.0M | $8.4M | $10.4M | $15.6M | — |
| Operating income | -$733.9M | -$4.8M | -$8.9M | -$14.3M | — |
| Interest expense | — | $325.0K | $1.2M | $109.2K | — |
| Pre-tax income | -$733.5M | -$4.5M | -$11.2M | -$14.1M | — |
| Income tax | $1.0M | $232 | $15.7K | $13.0K | — |
| Net income | -$734.6M | $10.1M | -$14.2M | -$15.2M | — |
| EPS, basic | -7.37 | 35.20 | -5.17 | -6.13 | — |
| EPS, diluted | -7.37 | 27.62 | -5.17 | -6.13 | — |
| Shares, diluted (wtd. avg.) | $99.7M | $337.3K | $2.8M | $2.5M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Cash and equivalents | $28.5M | $1.4M | $2.5M | $1.4M | — |
| Receivables | $221.0K | $265.0K | $415.1K | $440.9K | — |
| Total current assets | $31.2M | $2.6M | $71.1M | $53.9M | — |
| Property, plant and equipment | $10.0K | $3.0K | $8.8K | $21.9K | — |
| Goodwill | — | — | — | $1.6M | $3.1M |
| Other intangibles | $8.0K | $13.0K | $168.1K | $838.5K | — |
| Total assets | $2.43B | $2.6M | $71.3M | $65.0M | — |
| Accounts payable | $12.7M | $479.0K | $834.1K | $689.2K | — |
| Short-term debt | — | — | $645.6K | — | — |
| Total current liabilities | $12.7M | $489.0K | $79.2M | $58.9M | — |
| Long-term debt | — | $0 | $1.4M | $2.1M | — |
| Total liabilities | $12.7M | $489.0K | $80.7M | $62.1M | — |
| Retained earnings | -$812.4M | -$77.8M | -$87.9M | -$73.6M | — |
| Total equity | $2.42B | $2.1M | -$9.4M | $3.0M | $14.2M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Operating cash flow | -$17.5M | -$22.8M | $582.9K | -$5.9M | — |
| Depreciation and amortisation | $4.0K | $7.0K | $10.3K | $10.5K | — |
| Stock-based compensation | $13.7M | $149.0K | $261.4K | $1.9M | — |
| Capital expenditure | $11.0K | $2.0K | $12.1K | $13.0K | — |
| Investing cash flow | -$2.95B | -$18.7M | -$1.0M | $48.3M | — |
| Financing cash flow | $3.00B | -$17.4M | $9.8M | $2.7M | — |
| Buybacks | $31.7M | — | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001493152-26-009214.
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