Sharplink, Inc.

Listed Company

SBETCIK 0001981535NasdaqNon-AcceleratedSmaller ReportingFinance ServicesDelawareFY ends Dec 31

Period

FY 2025

Revenue

$28.05M

Net Income

$-734.59M

Total Assets

$2.43B

Equity

$2.42B

Shares Out

197.21M

Op. Cash Flow

$-17.54M

SBET$5.67−84.17% · past yearDBEQ Basic

Daily closing prices

Business

Sharplink, Inc. operates a digital asset treasury business centered on accumulating and staking Ethereum, generating yield through proof-of-stake participation and liquid staking protocols. The company maintains a legacy affiliate marketing segment (PAS.net) providing performance-based customer acquisition services for sportsbooks and online casino operators in regulated U.S. and international markets. It operates through two reportable segments: ETH Treasury Management and Affiliate Marketing.

Summary from 10-K filed 2026-03-09

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31
Revenue from staking, net	26	—	—	—
Revenue from affiliate marketing	2	4	—	—
Total revenue	28	4	5	—
Realized gain on crypto assets, net	55	—	—	—
Unrealized loss on crypto assets at fair value, net	−616	—	—	—
Total losses from operations	−561	—	—	—
Cost of revenues from affiliate marketing	2	3	—	—
Selling, general, and administrative expenses	42	6	8	11
Stock-based compensation, related party	17	—	—	—
Impairment of crypto assets at cost	140	—	—	—
Total operating expenses	201	8	10	16
Operating loss	−734	−5	−9	−14
Interest income	447,000	60,000	53,493	33,402
Interest expense	—	−325,000	−1	—
Other income	—	298,000	−12,606	250,000
Change in fair value of convertible debenture and warrant liabilities	—	256,000	—	—
Total other income	447,000	289,000	−2	174,237
Net loss before income taxes	−733	−4	−11	−14
Income tax expense	−1	—	−15,708	−12,955
Net loss from continuing operations	−735	−4	−11	—
Net income (loss) from discontinued operations, net of tax	−71,000	15	−3	−1
Net income (loss)	−735	10	−14	—
Net loss from continuing operations basic	−735	−4	−11	−14
Net loss from continuing operations diluted	−735	−4	−11	−14
Net income (loss) from discontinued operations basic	−71,000	15	−3	−1
Net income (loss) from discontinued operations diluted	−71,000	15	−3	−1
Net income (loss)	−735	10	−14	−15
Basic weighted average shares for continuing and discontinued operations	100	286,939	3	2
Diluted weighted average shares for continuing and discontinued operations	100	337,255	3	2
Net income (loss) from continuing operations per share - basic	−7.37	−15.59	−4.09	−5.67
Net income (loss) from discontinued operations per share basic	—	50.79	−1.08	−0.46
Net income (loss) per share - basic	−7.37	35.2	−5.17	−6.13
Net income (loss) from continuing operations per share - diluted	−7.37	−15.59	−4.09	−5.67
Net income (loss) from discontinued operations per share diluted	—	43.21	−1.08	−0.46
Net income (loss) per share - diluted	−7.37	27.62	−5.17	−6.13

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2024 2024-01-31	FY 2023 2023-12-31	FY 2023 2023-11-30
Cash	29	1	—	2	—
USDC stablecoin	2	—	—	—	—
Accounts receivable, net of allowance for credit losses of $0	221,000	265,000	—	415,119	—
Other receivables	—	273,000	—	0	—
Prepaid expenses and other current assets	329,000	310,000	—	383,295	—
Current assets from discontinued operations	182,000	270,000	—	68	—
Total current assets	31	3	—	71	—
Crypto assets at fair value	1,900	—	—	—	—
Crypto assets at cost	501	—	—	—	—
Equipment, net	10,000	3,000	—	8,792	—
Intangible assets, net	8,000	13,000	—	168,112	—
Total assets	2,432	3	—	71	—
Accounts payable and accrued expenses	13	479,000	—	1	—
Current liabilities from discontinued operations	1,000	10,000	—	66	—
Total current liabilities	13	489,000	—	79	—
Total liabilities	13	489,000	—	81	—
Commitments and Contingencies (Note 11)	—	—	—	—	—
Common stock, $0.0001 par value; authorized shares 2,500,000,000 and 100,000,000, respectively; issued 198,635,801 and 407,295, respectively; outstanding shares: 196,697,343 and 407,287, respectively	20,000	0	573,000	572,770	—
Treasury stock, 1,938,458 and 8 shares, respectively, of common stock at cost	−32	−29,000	—	−29,000	—
Additional paid-in capital	3,263	80	—	78	—
Accumulated deficit	−812	−78	—	−88	—
Total stockholders equity	2,419	2	—	−9	3
Total liabilities and stockholders equity	2,432	3	—	71	—

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31
Depreciation and amortization	9,000	12,000	107,414	912,248
Amortization of debt discount	—	72,000	459,148	8,073
Deferred tax expense	—	−7,000	−6,206	81,323
Stock-based compensation expense	14	149,000	261,373	2
Stock-based bonus accrual	5	—	—	—
Realized gain from liquid staking	−55	—	—	—
Realized gain on equity contributions in crypto assets	−498,000	—	—	—
Rewards from liquid staking	−1	—	—	—
Rewards from native staking	−25	—	—	—
USDC rewards received from vendor	−190,000	—	—	—
Accounts receivable	161,000	162,000	25,754	68,320
Other receivable	—	−273,000	0	—
Prepaid expenses and other current assets	−19,000	73,000	−6,390	—
Accounts payable and accrued expenses	7	−1	1	37,819
Net cash used in operating activities continuing operations	−17	−6	−5	−8
Net cash used in operating activities - discontinued operations	−61,000	−17	5	2
Net cash used in operating activities	−18	−23	582,887	−6
Capital expenditures for equipment	−11,000	−2,000	−12,147	−13,048
Crypto assets purchased	−2,615	—	—	—
USDC stablecoin purchased	−445	—	—	—
USDC stablecoin redemptions	106	—	—	—
Proceeds from sale of intellectual property	—	150,000	0	—
Net cash provided by (used in) investing activities continuing operations	−2,954	148,000	−286,146	−419,302
Net cash used in investing activities - discontinued operations	—	−19	−745,951	49
Net cash used for investing activities	−2,954	−19	−1	48
Proceeds from convertible debenture and purchase warrants	—	−4	4	—
Gross proceeds from sale of common stock	2,147	869,000	0	—
Issuance costs paid related to sale of common stock	−57	—	—	—
Gross proceeds from private placements	983	—	—	—
Issuance costs paid related to private placements	−43	—	—	—
Repurchases of common stock (treasury cost)	−32	—	—	—
Proceeds from line of credit	—	550,000	6	—
Repayment of line of credit	—	−7	0	—
Principal payments on long-term debt	—	−2	−620,173	−549,225
Proceeds from exercise of warrants	—	160,000	0	—
Net cash generated by (used in) financing activities continuing operations	2,999	−12	9	3
Net cash used in financing activities - discontinued operations	—	−6	481,575	—
Net cash generated by (used in) financing activities	2,999	−17	10	3
Net change in cash	27	−59	9	45
Cash paid for interest	—	486,000	485,531	109,165
Cash paid for taxes	449,000	505,000	86,320	19,916
USDC stablecoin rewards	−190,000	—	—	—
USDC stablecoin used to purchase crypto assets	338	—	—	—
Equity contributions of crypto assets	123	—	—	—
Crypto assets received as equity contributions after fair value adjustment	−123	—	—	—
Deposits of crypto assets (ETH) at fair value for liquid staking activities	706	—	—	—
Receipt of crypto assets (LsETH) at cost for liquid staking activities	−717	—	—	—
Receipt of crypto assets (ETH) at fair value for redemption of crypto assets (LsETH) at cost	−121	—	—	—
Redemption of crypto assets (LsETH) at impaired cost	77	—	—	—
Placement agent warrants	13	—	—	—
Premium purchase contract	9	—	—	—
Settlement agreement, liability issued for warrants	—	−900,000	—	—
Issuance of common stock in exchange of warrants	—	211,000	—	—
Issuance of common stock for vested restricted stock	2	449,000	—	—
Deemed dividend	—	45,000	—	—
Warrant exchange agreement, issuance of pre-funded warrants	—	287,000	—	—
Warrant exchange amendment, revalue of strike price and removal of repurchase requirement	—	152,000	—	—

Filings

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Frequently asked questions

What is Sharplink, Inc.'s CIK number?

Sharplink, Inc.'s SEC CIK number is 0001981535 (1981535). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.

Where can I find Sharplink, Inc.'s SEC filings?

All of Sharplink, Inc.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.

When did Sharplink, Inc. last report earnings?

Sharplink, Inc. (SBET) most recently filed an earnings 8-K with the SEC on May 11, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001493152-26-022140). This is Sharplink, Inc.'s most recent earnings filing of record — not a forecast of its next earnings date.

What is Sharplink, Inc.'s most recent earnings 8-K?

Sharplink, Inc.'s latest earnings 8-K (Item 2.02) was filed May 11, 2026 under accession 0001493152-26-022140. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.

View Sharplink, Inc.'s latest earnings 8-K →
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