NASDAQ$SBET
SharpLink Inc · Q2 2025 earnings
Q2 2025 earnings · · After market close
Briefing
SharpLink launched its ETH treasury strategy and reported a significant net loss driven by non-cash charges.
SharpLink generated $700,000 in Q2 revenue but reported a $103.4 million net loss, primarily due to a non-cash impairment of LsETH and stock-based compensation tied to its ETH-focused strategy.
- Revenue was $700,000, down from $1.0 million in Q2 2024
- Reported a net loss of $103.4 million, mainly driven by a non-cash impairment of $87.8 million on LsETH holdings
- Gross margin improved to 30%
- Acquired 728,804 ETH and staked nearly 100% of holdings
Headline financials
Revenue & EPS history
SharpLink Gaming Inc · Revenue · Quarterly
$697K
Forward guidance
SharpLink plans to continue scaling ETH holdings and deepen its staking strategy as part of its Ethereum-focused financial transformation.
Tailwinds
- Successfully launched ETH as primary treasury reserve asset
- Raised over $2.6 billion in capital for ETH acquisitions
- Formed strategic partnership with Consensys
- Appointed top industry leaders including Ethereum Co-Founder Joseph Lubin
- Staked nearly 100% of ETH to generate yield
Headwinds
- Recorded $87.8 million non-cash impairment on LsETH holdings
- Reported $103.4 million net loss in Q2
- Revenue declined year-over-year
- Reported GAAP EPS of -$3.70
- No segment or geographic revenue breakdown provided
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 7 quarterly earnings reports · overlaid with Q2 2025
-1.4%
Avg return
Earnings day
-4.5%
Avg return
5 days after
+18.4%
Avg return
30 days after
38%
3 / 8 earnings
Positive
+5.0%
Q3 2024
Best reaction
-14.0%
Q1 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -0.1% | -6.6% | — | |
| Q4 2025 | +3.3% | +2.3% | -12.8% | |
| Q3 2025 | -5.0% | -8.8% | -9.2% | |
| Q2 2025 | +0.0% | -9.1% | -15.4% | |
| Q1 2025 | -14.0% | -14.9% | +169.3% | |
| Q3 2024 | +5.0% | +10.0% | +25.0% | |
| Q2 2024 | -2.5% | -8.9% | -11.4% | |
| Q1 2024 | +2.0% | +0.0% | -16.8% |
Discussion
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