SharpLink Gaming Ltd. (SBET) Income Statement
SBET 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsSBET revenue and net income
Where SBET's revenue goes
2025Each bar shows an amount and its share of revenue. SBET kept −2,618.4% of revenue as net income.
SBET profit margins
SBET growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +666.0% | +100.3% | +65.2% | +6.7% |
| Gross profit | +2,785.8% | +170.9% | +128.1% | +15.3% |
| Operating income | — | — | — | — |
| Net income | −7,373.4% | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
SBET quarterly EPS vs estimates
SharpLink Gaming beat the analyst EPS estimate in 1 of the last 5 quarters. Next report: November 11, 2026 (estimate $0.02).
SBET income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $28.1M | $3.7M | $5.0M | $3.5M | $2.6M | $2.3M | $2.4M | $5.9M | $6.8M | $14.1M |
| Cost of revenue | $1.9M | $2.8M | $3.4M | $2.2M | $2.9M | $1.9M | $2.0M | $2.1M | $2.1M | $6.9M |
| Gross profit | $26.2M | $906,273 | $1.5M | $1.3M | −$299,362 | $423,716 | $361,507 | $3.7M | $4.7M | $7.1M |
| Research & development | — | — | — | — | — | — | $545,000 | $825,000 | $2.1M | $2.8M |
| Sales, general & admin | $58.9M | $5.7M | $14.2M | $11.9M | $29.8M | $1.6M | $743,270 | $3.7M | $3.0M | $5.8M |
| Total operating expenses | $58.9M | $5.7M | $10.4M | $15.6M | $33.2M | $1.6M | $743,270 | $4.5M | $5.1M | $8.6M |
| Operating income | −$32.7M | −$4.8M | −$8.9M | −$14.3M | −$33.5M | −$1.2M | −$381,763 | −$823,000 | −$425,000 | −$1.4M |
| Interest income | $447,000 | $60,289 | $1.2M | $72,000 | $29,055 | $23,468 | $15,777 | — | — | — |
| Interest expense | $0 | $324,518 | $1.2M | $109,165 | $26.2M | $1,375 | $20,037 | $284,000 | $53,000 | $27,000 |
| Income before taxes | −$733.5M | −$4.5M | −$11.2M | −$14.1M | −$33.5M | −$1.1M | −$386,023 | −$840,000 | −$411,000 | −$5.7M |
| Income taxes | $1.0M | −$232 | $15,708 | −$12,955 | $4,171 | $970 | −$79,870 | $46,000 | −$9,000 | −$507,000 |
| Net income | −$734.6M | $10.1M | −$14.2M | −$15.2M | −$55.6M | −$1.1M | −$306,153 | −$886,000 | −$1.7M | −$5.2M |
| EBITDA | −$733.5M | −$4.8M | −$6.3M | −$13.1M | −$33.3M | −$1.0M | −$268,129 | −$758,000 | −$229,000 | −$4.6M |
| EPS (diluted) | −$12.70 | −$3.38 | −$60.30 | −$4.98 | −$2.49 | −$10.17 | −$2.54 | −$0.27 | −$0.55 | −$429.26 |
| Gross margin | 93.2% | 24.7% | 30.9% | 37.7% | −11.4% | 18.6% | 15.2% | 63.3% | 69.6% | 50.8% |
| Operating margin | −116.7% | −130.1% | −179.6% | −409.3% | −1,270.8% | −53.0% | −16.0% | −14.0% | −6.3% | −10.2% |
| Net margin | −2,618.4% | 275.8% | −287.6% | −436.5% | −2,111.1% | −50.0% | −12.9% | −15.1% | −25.3% | −37.0% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $11.5M | $12.1M | $15.8M | $10.8M | $697,291 | $741,731 | $823,441 | $881,690 | $981,272 | $975,946 | $1.0M | $1.3M |
| Cost of revenue | $258,000 | $432,000 | $373,293 | $430,569 | $488,202 | $609,936 | $657,155 | $709,045 | $701,142 | $688,734 | $676,511 | $958,665 |
| Gross profit | $11.3M | $11.6M | $15.4M | $10.4M | $209,089 | $131,795 | $166,286 | $172,645 | $280,130 | $287,212 | $350,596 | $390,666 |
| Sales, general & admin | $9.1M | $9.9M | $27.0M | $12.2M | $18.7M | $1.1M | $1.2M | $970,080 | $1.5M | $2.0M | — | $3.6M |
| Total operating expenses | $9.1M | $9.9M | $27.0M | −$94.5M | $103.6M | $1.1M | $1.2M | $970,080 | $1.5M | $2.0M | $4.4M | $1.8M |
| Operating income | $2.2M | $1.8M | −$11.6M | $104.9M | −$103.4M | −$925,544 | −$1.1M | −$797,438 | −$1.2M | −$1.7M | −$4.1M | −$1.4M |
| Interest income | $178,000 | $203,000 | $279,185 | $118,948 | $36,935 | $11,932 | $12,083 | $16,178 | $15,931 | $16,097 | — | $541,784 |
| Interest expense | — | — | $0 | $0 | $0 | $0 | $649,036 | $0 | $324 | $324,194 | $360,499 | $318,977 |
| Income before taxes | −$393.3M | −$684.4M | −$734.3M | $105.0M | −$103.3M | −$913,924 | −$1.1M | −$781,257 | −$873,560 | −$1.8M | −$4.7M | −$2.0M |
| Income taxes | $999,000 | $1.2M | $223,560 | $792,346 | $27,286 | $2,808 | −$55,745 | $6,735 | $43,104 | $5,674 | −$19,319 | $314 |
| Net income | −$394.3M | −$685.6M | −$734.5M | $104.3M | −$103.4M | −$974,901 | −$902,647 | −$885,131 | −$462,958 | $12.4M | −$5.1M | −$2.8M |
| EBITDA | $2.2M | $1.8M | −$734.2M | $105.0M | −$103.3M | −$923,432 | −$1.1M | −$778,469 | −$869,865 | −$1.7M | −$1.6M | −$1.3M |
| EPS (diluted) | $0.01 | $0.06 | −$7.37 | $0.67 | −$4.27 | −$1.73 | −$0.26 | −$3.03 | −$1.64 | $3.96 | — | −$1.00 |
| Gross margin | 97.8% | 96.4% | 97.6% | 96.0% | 30.0% | 17.8% | 20.2% | 19.6% | 28.5% | 29.4% | 34.1% | 29.0% |
| Operating margin | 19.2% | 14.5% | −73.3% | 967.6% | −14,826.0% | −124.8% | −130.7% | −90.4% | −122.8% | −172.6% | −399.0% | −104.1% |
| Net margin | −3,420.1% | −5,685.5% | −4,656.6% | 961.6% | −14,832.1% | −131.4% | −109.6% | −100.4% | −47.2% | 1,265.5% | −499.3% | −211.2% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in SBET's financial statements (latest annual report filed March 9, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
SBET financial results
In fiscal year 2025 (ended December 31, 2025), SharpLink Gaming reported revenue of $28.1 million, up 666.0% from the year before. It had a net loss of $734.6 million, a net profit margin of −2,618.4%. Diluted earnings per share came to −$12.70. Over five years revenue grew at an average rate of 65.2% a year.
See the SBET stock overview for the latest quote and news, or the SBET chart for price history and technical indicators.
SBET income statement FAQ
What is SharpLink Gaming's annual revenue?
SharpLink Gaming reported total revenue of $28.1 million for fiscal year 2025, which ended on December 31, 2025. That was up 666.0% from $3.7 million the previous year.
Is SharpLink Gaming profitable?
No. SharpLink Gaming reported a net loss of $734.6 million in fiscal 2025, a net profit margin of −2,618.4%; its operating margin was −116.7%.
What is SharpLink Gaming's gross margin?
SharpLink Gaming's gross margin was 93.2% in fiscal 2025: for every $100 of revenue, SharpLink Gaming kept $93 after the direct cost of its products and services.
How fast is SharpLink Gaming growing?
Revenue grew 65.2% a year on average over the last five fiscal years, from $2.3 million to $28.1 million.
What are SharpLink Gaming's earnings per share?
SharpLink Gaming earned $-12.70 per diluted share in fiscal 2025, compared with $-3.38 a year earlier.
When will SharpLink Gaming report its next earnings?
SharpLink Gaming is expected to report results for the quarter ending September 30, 2026 on November 11, 2026.
When does SharpLink Gaming's fiscal year end?
SharpLink Gaming's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 9, 2026.