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SharpLink Gaming (SBET) investor relations material
SharpLink Gaming Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary13 Nov, 2025
Executive summary
Achieved $10.8 million in Q3 revenue, up over 1,100% year-over-year, driven by ETH treasury management and staking nearly all ETH holdings.
Net income reached $104.3 million, primarily from unrealized gains on ETH holdings and successful staking strategies.
ETH per share concentration doubled from 2.0 to 4.0 since the ETH treasury strategy launch in June.
Strategic partnerships with ConsenSys and Superstate enabled enhanced yield opportunities, innovative staking collaborations, and tokenized stock issuance.
Achieved first full quarter of ETH treasury strategy execution, validating approach with strong financial results.
Financial highlights
Q3 revenue increased to $10.8 million from $0.9 million in Q3 2024, mainly due to ETH staking.
Net income surged to $104.3 million ($0.62 per diluted share) from a net loss of $0.9 million in Q3 2024, driven by $107.3 million in unrealized gains on ETH holdings.
ETH holdings totaled 817,747 as of September 30, 2025, rising to 861,251 by November 9, 2025.
Crypto assets valued at $3.0 billion, with $11.1 million in cash and $26.7 million in USDC stablecoins at quarter end.
SG&A expenses rose to $12.4 million from $709,000 year-over-year.
Outlook and guidance
Focus remains on maximizing risk-adjusted yield through staking, restaking, DeFi, and dynamic capital management.
Expect further innovative yield announcements and multi-year staking relationships leveraging permanent capital base.
No specific yield guidance provided, but strategy centers on institutional-grade risk management and accretive ETH per share growth.
Positioned to benefit from the accelerating Ethereum institutional supercycle.
How does SharpLink achieve enhanced ETH yield?
Ethereum's edge vs Solana for institutions?
Capital raise options at NAV discount?
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Next SharpLink Gaming earnings date
Q4 202512 Mar, 2026
Next SharpLink Gaming earnings date
Q4 202512 Mar, 2026
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Frequently asked questions
SharpLink Gaming Inc is a provider of advanced technology and services for the sports betting and iGaming industries. The company specializes in developing proprietary software solutions that connect sports fans, leagues, and media companies with licensed sportsbook operators. Its offerings include fan engagement tools, conversion platforms, and data-driven analytics. The company is headquartered in Minnetonka, Minnesota, and its shares are listed on the Nasdaq.
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