# Sharplink Gaming Inc. (SBET)

**Exchange:** NASDAQ  
**Sector:** Financial Services  
**Market cap:** $541M  
**Price:** $5.43 (+5.23%)

> Sharplink Gaming Inc. is a financial markets company focused on an institutional-grade Ethereum treasury platform that gives investors exposure to ETH through public-market access. Its business centers on Ether treasury management, while also operating an affiliate marketing segment that connects regulated gaming operators with potential customers. The company’s platform is tied to Ethereum’s role in stablecoin settlement, tokenized real-world assets, and decentralized finance applications, positioning it at the intersection of digital assets and market infrastructure. Sharplink Gaming Inc. serves investors seeking a listed vehicle linked to Ethereum and operates alongside a commercial affiliate marketing business that supports regulated gaming and iGaming ecosystems. Based in Miami, Florida, the company combines digital asset treasury operations with data-driven online marketing services in current markets.

## Income Statement (Annual, USD)

| Fiscal Year | Revenue | Gross Profit | Operating Income | Net Income | EPS (dil.) |
| --- | --- | --- | --- | --- | --- |
| 2025 | $28M | — | -$734M | -$735M | $-7.37 |
| 2024 | $4M | $906,273 | -$5M | $10M | $27.62 |
| 2023 | $5M | $2M | -$9M | -$14M | $-5.17 |
| 2022 | $3M | $1M | -$14M | -$15M | $-6.13 |

## Balance Sheet (Annual, USD)

| Fiscal Year | Total Assets | Total Liabilities | Equity | Cash | Long-term Debt |
| --- | --- | --- | --- | --- | --- |
| 2025 | $2.43B | $13M | $2.42B | — | — |
| 2024 | $3M | $489,000 | $2M | — | — |
| 2023 | $71M | $81M | -$9M | — | $2M |
| 2022 | $65M | $62M | $3M | — | $2M |

## Cash Flow (Annual, USD)

| Fiscal Year | Operating Cash Flow | CapEx | Free Cash Flow |
| --- | --- | --- | --- |
| 2025 | -$18M | $11,000 | -$18M |
| 2024 | -$23M | $2,000 | -$23M |
| 2023 | $582,887 | $12,147 | $570,740 |
| 2022 | -$6M | $13,048 | -$6M |

Source: [CompaniesByCap](https://companiesbycap.com/company/SBET)