SBET · Sharplink, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $742.0K | - | $10.84M | $981.3K | $741.7K | - | $881.7K | $981.3K | $975.9K | - |
| Cost of Revenue | - | - | - | $488.2K | $609.9K | - | $709.0K | $942.2K | $688.7K | - |
| Gross Profit | - | - | - | $209.1K | $131.8K | - | $172.6K | $401.3K | $287.2K | - |
| R&D | - | - | - | - | - | - | - | - | - | - |
| SG&A | $9.88M | - | $12.05M | $2.33M | $1.06M | - | $970.1K | $2.14M | $1.97M | - |
| Total Operating Expenses | $1.67M | - | $19.56M | - | - | - | - | - | - | - |
| D&A | $1.0K | - | - | - | $2.1K | - | $3.5K | $2.1K | $3.4K | - |
| Operating Income | ($684.58M) | - | $104.92M | ($103.38M) | ($925.5K) | - | ($1.40M) | ($1.74M) | ($1.68M) | - |
| Interest Expense | - | - | - | - | $324.2K | - | $319.0K | $324 | $324.2K | - |
| Income Tax | $1.18M | - | $792.3K | $27.3K | $2.8K | - | $6.7K | $43.1K | $5.7K | - |
| Net Income | ($685.56M) | - | $104.27M | ($103.42M) | ($974.9K) | - | ($885.1K) | $12.35M | $12.31M | - |
| EPS - Basic | ($3.25) | - | $0.70 | ($4.27) | ($1.84) | - | ($3.00) | ($1.68) | $47.52 | - |
| EPS - Diluted | ($3.25) | - | $0.62 | ($4.27) | ($1.84) | - | ($3.00) | ($14.88) | $40.32 | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $16.88M | $28.54M | $11.13M | $5.07M | $1.37M | $1.44M | $1.85M | $602.3K | $2.13M | $2.49M |
| Accounts Receivable | $461.0K | $221.0K | $339.0K | $271.9K | $323.0K | $264.8K | $457.1K | $329.9K | $364.0K | $415.1K |
| Inventory | - | - | - | - | - | - | - | - | - | - |
| Accounts Payable | - | - | - | - | - | $281.4K | - | - | - | $834.1K |
| Current Assets | $18.02M | $31.15M | $40.00M | $9.51M | $2.26M | $2.55M | $2.90M | $3.74M | $5.37M | $71.10M |
| Total Assets | $1.74B | $2.43B | $3.07B | $453.91M | $2.78M | $2.57M | $2.92M | $3.76M | $5.40M | $71.28M |
| Current Liabilities | $5.44M | $12.75M | $4.57M | $1.39M | $693.1K | $488.3K | $895.0K | $1.00M | $2.54M | $79.25M |
| Long-term Debt | - | - | - | - | - | $0 | $0 | $0 | - | $1.42M |
| Total Liabilities | $5.44M | $12.75M | $4.57M | $1.39M | $693.1K | $488.3K | $895.0K | $1.00M | $2.54M | $80.68M |
| Stockholders' Equity | $1.74B | $2.42B | $3.07B | $452.52M | $2.08M | $2.08M | ($4.46M) | $2.76M | $2.85M | $2.50M |
| Retained Earnings | ($1.50B) | ($812.40M) | ($77.94M) | ($182.21M) | ($78.78M) | ($77.81M) | ($76.91M) | ($76.02M) | ($75.56M) | ($87.86M) |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | ($10.65M) | - | - | - | ($514.1K) | - | - | - | ($19.29M) | - |
| Investing Cash Flow | $1.88M | - | - | - | ($500.0K) | - | - | - | ($18.71M) | - |
| Financing Cash Flow | ($2.90M) | - | - | - | $907.2K | - | - | - | ($18.24M) | - |
| CapEx | - | - | - | - | - | - | - | - | $1.7K | - |
| Free Cash Flow | - | - | - | - | - | - | - | - | ($19.30M) | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | - | - | - | 21.3% | 17.8% | - | 19.6% | 40.9% | 29.4% | - |
| Operating margin | -92261.3% | - | 967.6% | -10535.3% | -124.8% | - | -159.3% | -176.9% | -172.6% | - |
| EBITDA margin | -92261.2% | - | - | - | -124.5% | - | -158.9% | -176.7% | -172.3% | - |
| Net margin | -92393.7% | - | 961.6% | -10539.7% | -131.4% | - | -100.4% | 1258.6% | 1260.9% | - |
| Free cash flow margin | - | - | - | - | - | - | - | - | -1977.2% | - |
| FCF / Net income | - | - | - | - | - | - | - | - | -1.57 | - |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - |
| SG&A / Revenue | 1331.0% | - | 111.1% | 237.8% | 142.6% | - | 110.0% | 217.8% | 202.1% | - |
| Effective tax rate | - | - | 0.8% | - | - | - | - | 0.3% | 0.0% | - |
| Return on assets | -39.3% | - | 3.4% | -22.8% | -35.1% | - | -30.4% | 328.2% | 228.0% | - |
| Return on equity | -39.4% | - | 3.4% | -22.9% | -46.8% | - | 19.8% | 447.3% | 431.4% | - |
| Return on invested capital | - | - | - | - | - | - | - | -62.6% | - | - |
| Liquidity | ||||||||||
| Current ratio | 3.32 | 2.44 | 8.75 | 6.83 | 3.27 | 5.23 | 3.24 | 3.73 | 2.11 | 0.90 |
| Quick ratio | 3.32 | 2.44 | 8.75 | 6.83 | 3.27 | 5.23 | 3.24 | 3.73 | 2.11 | 0.90 |
| Cash ratio | 3.10 | 2.24 | 2.43 | 3.64 | 1.98 | 2.94 | 2.07 | 0.60 | 0.84 | 0.03 |
| Leverage | ||||||||||
| Debt / Equity | - | - | - | - | - | 0.00 | 0.00 | 0.00 | - | 0.57 |
| Debt / Assets | - | - | - | - | - | 0.00 | 0.00 | 0.00 | - | 0.02 |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Interest coverage | - | - | - | - | -2.9x | - | -4.4x | -5356.8x | -5.2x | - |
| Equity multiplier | 1.00 | 1.01 | 1.00 | 1.00 | 1.33 | 1.23 | -0.65 | 1.36 | 1.89 | 28.51 |
| Liabilities / Assets | 0.00 | 0.01 | 0.00 | 0.00 | 0.25 | 0.19 | 0.31 | 0.27 | 0.47 | 1.13 |
| Efficiency | ||||||||||
| Asset turnover | 0.00 | - | 0.00 | 0.00 | 0.27 | - | 0.30 | 0.26 | 0.18 | - |
| Inventory turnover | - | - | - | - | - | - | - | - | - | - |
| Days sales outstanding | 227d | - | 11d | 101d | 159d | - | 189d | 123d | 136d | - |
| Days inventory outstanding | - | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | - | - | 27.4x | - | - | - | - | - | 0.4x | - |
| P / B | 0.8x | - | 0.9x | 0.5x | 0.9x | - | - | 10.7x | 22.0x | - |
| P / S | 1833.0x | - | 262.2x | 244.9x | 2.5x | - | 42.6x | 30.2x | 64.3x | - |
| EV / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 0.0% | - | 1129.9% | 0.0% | -24.0% | - | - | - | - | - |
| Revenue CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| Revenue CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Gross profit growth (YoY) | - | - | - | -47.9% | -54.1% | - | - | - | - | - |
| Operating income growth (YoY) | -73865.0% | - | - | -5856.4% | 45.1% | - | - | - | - | - |
| Net income growth (YoY) | -70221.1% | - | - | - | - | - | - | - | - | - |
| EPS growth (YoY) | -76.6% | - | - | 71.3% | - | - | - | - | - | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | 83301.5% | 116038.7% | - | 16290.2% | -26.9% | -16.7% | - | - | - | -16.3% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$28.05M totalETHStaking Segmet$25.59M · 91.2%
Affiliate Marketing Services$2.46M · 8.8%
Geographic
$28.05M totalUS$26.13M · 93.1%
Non Us$1.92M · 6.9%
Peer comparison
Same SIC group: Finance Services
Comparing Sharplink against the 5 most active filers in the same SIC group.