SBET on Nasdaq
Sharplink, Inc.
Sharplink, Inc. is an American finance services company that raised $425 million in 2025 (SEC Form D).2 It is headquartered in Minneapolis, United States.2 Its shares trade on Nasdaq under the symbol SBET.2
$8.04 up 0.14 (1.84%)Price as of Oct 15, 2026 at 17:33 UTC
Last updated Oct 21, 2026.
Overview
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- TickerSBET on Nasdaq2
- IndustryFinance Services2
- HeadquartersMinneapolis, United States2
- Incorporated inDE4
- Business address200 S. Biscayne Boulevard, Miami, Fl 331314
- Filer categoryNon-accelerated filer, Smaller reporting company4
- Legal formCorporation2
- LEI254900CZRMKT24A29H692
- StatusActive2
- LEI statusIssued and current2
- Registered addressC/O CORPORATION SERVICE COMPANY, 19808 Wilmington, United States2
- Registered withDivision of Corporations, Department of State, 65680242
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WITH OWNERSHIP OF SHARES IN A REGISTERED INVESTMENT COMPANY NOR THE PROTECTIONS AFFORDED BY THE COMMODITIES EXCHANGE ACT.6 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
-2616.0%Operating margin7
-2618.4%Net margin7
666.1%Revenue growth, 20257
-30.4%Return on equity7
-$17.6MFree cash flow7
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Business segments
ETH Staking Segmet brought in 92% of the revenue Sharplink, Inc. broke down this way in fiscal 2025.
Business segments by year
| Business segments | 2024 | 2025 |
|---|---|---|
| ETH Staking Segmet | $3.7M | $28.1M |
| Affiliate Marketing Services | $3.7M | $2.5M |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Selling, general and admin98¢$42.4M
- Income tax2¢$1.0M
Out of $28.1M in revenue.7 The company lost money this year.
Financial statements
Every line of the income statement as filed: the last 2 fiscal years, latest first.7
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Revenue from staking, net | $25.6M | |
| Revenue from affiliate marketing | $2.5M | $3.7M |
| Total revenue | $28.1M | $3.7M |
| Realized gain on crypto assets, net | $55.2M | |
| Unrealized loss on crypto assets at fair value, net | -$616.2M | |
| Total losses from operations | -$561.0M | |
| Cost of revenues from affiliate marketing | $1.9M | $2.8M |
| Selling, general, and administrative expenses | $42.4M | $5.7M |
| Stock-based compensation, related party | $16.5M | |
| Impairment of crypto assets at cost | $140.2M | |
| Total operating expenses | $201.0M | $8.4M |
| Operating loss | -$733.9M | -$4.8M |
| Interest income | $447.0K | $60.0K |
| Interest expense | -$325.0K | |
| Other income | $298.0K | |
| Change in fair value of convertible debenture and warrant liabilities | $256.0K | |
| Total other income | $447.0K | $289.0K |
| Net loss before income taxes | -$733.5M | -$4.5M |
| Income tax expense | -$1.0M | |
| Net loss from continuing operations | -$734.5M | -$4.5M |
| Net income (loss) from discontinued operations, net of tax | -$71.0K | $14.6M |
| Net income (loss) | -$734.6M | $10.1M |
| Net loss from continuing operations basic | -$734.5M | -$4.5M |
| Net loss from continuing operations diluted | -$734.5M | -$4.5M |
| Net income (loss) from discontinued operations basic | -$71.0K | $14.6M |
| Net income (loss) from discontinued operations diluted | -$71.0K | $14.6M |
| Net income (loss) | -$734.6M | $10.1M |
| Basic weighted average shares for continuing and discontinued operations | 99.7M shares | 286.9K shares |
| Diluted weighted average shares for continuing and discontinued operations | 99.7M shares | 337.3K shares |
| Net income (loss) from continuing operations per share - basic | -$7 | -$16 |
| Net income (loss) from discontinued operations per share basic | $51 | |
| Net income (loss) per share - basic | -$7.37 | $35.20 |
| Net income (loss) from continuing operations per share - diluted | -$7 | -$16 |
| Net income (loss) from discontinued operations per share diluted | $43 | |
| Net income (loss) per share - diluted | -$7.37 | $27.62 |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 5 fiscal years (annual) or 5 quarters (quarterly), latest first.7
| Period ending | 2025-12-31 | 2025-04-30 | 2024-12-31 | 2024-01-31 | 2023-12-31 |
|---|---|---|---|---|---|
| Cash | $28.5M | $1.4M | |||
| USDC stablecoin | $1.9M | ||||
| Accounts receivable, net of allowance for credit losses of $0 | $221.0K | $265.0K | |||
| Other receivables | $273.0K | ||||
| Prepaid expenses and other current assets | $329.0K | $310.0K | |||
| Current assets from discontinued operations | $182.0K | $270.0K | |||
| Total current assets | $31.2M | $2.6M | |||
| Crypto assets at fair value | $1.9B | ||||
| Crypto assets at cost | $500.9M | ||||
| Equipment, net | $10.0K | $3.0K | |||
| Intangible assets, net | $8.0K | $13.0K | |||
| Total assets | $2.4B | $2.6M | |||
| Accounts payable and accrued expenses | $12.7M | $479.0K | |||
| Current liabilities from discontinued operations | $1.0K | $10.0K | |||
| Total current liabilities | $12.7M | $489.0K | |||
| Total liabilities | $12.7M | $489.0K | |||
| Common stock, $0.0001 par value; authorized shares 2,500,000,000 and 100,000,000, respectively; issued 198,635,801 and 407,295, respectively; outstanding shares: 196,697,343 and 407,287, respectively | $20.0K | $0 | $573.0K | ||
| Treasury stock, 1,938,458 and 8 shares, respectively, of common stock at cost | -$31.7M | -$29.0K | |||
| Additional paid-in capital | $3.3B | $79.9M | |||
| Accumulated deficit | -$812.4M | -$77.8M | |||
| Total stockholders equity | $2.4B | $2.1M | -$9.4M | ||
| Total liabilities and stockholders equity | $2.4B | $2.6M | |||
| Accounts receivable, allowance for credit losses | $0 | $0 | |||
| Preferred stock, par value | $0.00 | ||||
| Preferred stock, shares authorized | 15.0M shares | ||||
| Preferred stock, shares issued | 0 shares | ||||
| Preferred stock, shares outstanding | 0 shares | ||||
| Common stock, par value | $0.00 | $0.00 | $0.20 | ||
| Common stock, shares authorized | 2.5B shares | 100.0M shares | |||
| Common stock, shares issued | 198.6M shares | 7.9M shares | 407.3K shares | ||
| Common stock, shares outstanding | 196.7M shares | 7.9M shares | 407.3K shares | ||
| Treasury stock, common, shares | 1.9M shares | 8 shares |
| Period ending | 2025-12-31 | 2025-04-30 | 2024-12-31 | 2024-01-31 | 2023-12-31 |
|---|---|---|---|---|---|
| Cash | $28.5M | $1.4M | |||
| USDC stablecoin | $1.9M | ||||
| Accounts receivable, net of allowance for credit losses of $0 | $221.0K | $265.0K | |||
| Other receivables | $273.0K | ||||
| Prepaid expenses and other current assets | $329.0K | $310.0K | |||
| Current assets from discontinued operations | $182.0K | $270.0K | |||
| Total current assets | $31.2M | $2.6M | |||
| Crypto assets at fair value | $1.9B | ||||
| Crypto assets at cost | $500.9M | ||||
| Equipment, net | $10.0K | $3.0K | |||
| Intangible assets, net | $8.0K | $13.0K | |||
| Total assets | $2.4B | $2.6M | |||
| Accounts payable and accrued expenses | $12.7M | $479.0K | |||
| Current liabilities from discontinued operations | $1.0K | $10.0K | |||
| Total current liabilities | $12.7M | $489.0K | |||
| Total liabilities | $12.7M | $489.0K | |||
| Common stock, $0.0001 par value; authorized shares 2,500,000,000 and 100,000,000, respectively; issued 198,635,801 and 407,295, respectively; outstanding shares: 196,697,343 and 407,287, respectively | $20.0K | $0 | $573.0K | ||
| Treasury stock, 1,938,458 and 8 shares, respectively, of common stock at cost | -$31.7M | -$29.0K | |||
| Additional paid-in capital | $3.3B | $79.9M | |||
| Accumulated deficit | -$812.4M | -$77.8M | |||
| Total stockholders equity | $2.4B | $2.1M | -$9.4M | ||
| Total liabilities and stockholders equity | $2.4B | $2.6M | |||
| Accounts receivable, allowance for credit losses | $0 | $0 | |||
| Preferred stock, par value | $0.00 | ||||
| Preferred stock, shares authorized | 15.0M shares | ||||
| Preferred stock, shares issued | 0 shares | ||||
| Preferred stock, shares outstanding | 0 shares | ||||
| Common stock, par value | $0.00 | $0.00 | $0.20 | ||
| Common stock, shares authorized | 2.5B shares | 100.0M shares | |||
| Common stock, shares issued | 198.6M shares | 7.9M shares | 407.3K shares | ||
| Common stock, shares outstanding | 196.7M shares | 7.9M shares | 407.3K shares | ||
| Treasury stock, common, shares | 1.9M shares | 8 shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 2 fiscal years, latest first.7
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Net income (loss) | -$734.6M | $10.1M |
| Net income (loss) from discontinued operations, net of tax | -$71.0K | $14.6M |
| Net loss from continuing operations | -$734.5M | -$4.5M |
| Depreciation and amortization | $9.0K | $12.0K |
| Amortization of debt discount | $72.0K | |
| Change in fair value | -$256.0K | |
| Deferred tax expense | -$7.0K | |
| Stock-based compensation expense | $13.7M | $149.0K |
| Stock-based compensation expense, related party | $16.5M | |
| Impairment on crypto assets at cost | $140.2M | |
| Stock-based bonus accrual | $5.0M | |
| Unrealized loss on crypto assets at fair value, net | $616.2M | |
| Realized gain from liquid staking | -$54.7M | |
| Realized gain on equity contributions in crypto assets | -$498.0K | |
| Rewards from liquid staking | -$1.4M | |
| Rewards from native staking | -$25.1M | |
| USDC rewards received from vendor | -$190.0K | |
| Accounts receivable | $161.0K | $162.0K |
| Other receivable | -$273.0K | |
| Prepaid expenses and other current assets | -$19.0K | $73.0K |
| Accounts payable and accrued expenses | $7.2M | -$1.3M |
| Net cash used in operating activities continuing operations | -$17.5M | -$5.9M |
| Net cash used in operating activities - discontinued operations | -$61.0K | -$17.0M |
| Net cash used in operating activities | -$17.5M | -$22.8M |
| Capital expenditures for equipment | -$11.0K | -$2.0K |
| Crypto assets purchased | -$2.6B | |
| USDC stablecoin purchased | -$445.1M | |
| USDC stablecoin redemptions | $105.6M | |
| Proceeds from sale of intellectual property | $150.0K | |
| Net cash provided by (used in) investing activities continuing operations | -$3.0B | $148.0K |
| Net cash used in investing activities - discontinued operations | -$18.9M | |
| Net cash used for investing activities | -$3.0B | -$18.7M |
| Proceeds from convertible debenture and purchase warrants | -$4.1M | |
| Gross proceeds from sale of common stock | $2.1B | $869.0K |
| Issuance costs paid related to sale of common stock | -$57.2M | |
| Gross proceeds from private placements | $983.1M | |
| Issuance costs paid related to private placements | -$42.6M | |
| Repurchases of common stock (treasury cost) | -$31.7M | |
| Proceeds from line of credit | $550.0K | |
| Repayment of line of credit | -$6.9M | |
| Principal payments on long-term debt | -$2.1M | |
| Proceeds from exercise of warrants | $160.0K | |
| Net cash generated by (used in) financing activities continuing operations | $3.0B | -$11.5M |
| Net cash used in financing activities - discontinued operations | -$5.8M | |
| Net cash generated by (used in) financing activities | $3.0B | -$17.4M |
| Net change in cash | $27.0M | -$58.9M |
| Cash paid for interest | $486.0K | |
| Cash paid for taxes | $449.0K | $505.0K |
| USDC stablecoin rewards | -$190.0K | |
| USDC stablecoin used to purchase crypto assets | $337.9M | |
| Equity contributions of crypto assets | $122.9M | |
| Crypto assets received as equity contributions after fair value adjustment | -$123.4M | |
| Deposits of crypto assets (ETH) at fair value for liquid staking activities | $706.2M | |
| Receipt of crypto assets (LsETH) at cost for liquid staking activities | -$717.4M | |
| Receipt of crypto assets (ETH) at fair value for redemption of crypto assets (LsETH) at cost | -$121.1M | |
| Redemption of crypto assets (LsETH) at impaired cost | $76.6M | |
| Placement agent warrants | $12.9M | |
| Premium purchase contract | $8.6M | |
| Settlement agreement, liability issued for warrants | -$900.0K | |
| Issuance of common stock in exchange of warrants | $211.0K | |
| Issuance of common stock for vested restricted stock | $2.3M | $449.0K |
| Deemed dividend | $45.0K | |
| Warrant exchange agreement, issuance of pre-funded warrants | $287.0K | |
| Warrant exchange amendment, revalue of strike price and removal of repurchase requirement | $152.0K |
No quarter-by-quarter statement was filed.
Corporate structure
Sharplink, Inc. sits at the top of its group. 8 entities, 6 countries on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of Sharplink, Inc.
- Joseph Michael Lubin Filed SCHEDULE 13D/A on Sharplink, Inc., latest Oct 13, 2026 (3 filings since Jun 6, 2025)
- HIGHBRIDGE CAPITAL MANAGEMENT LLC Filed SCHEDULE 13G on Sharplink, Inc., latest Aug 14, 2026
- FMR LLC Filed SCHEDULE 13G on Sharplink, Inc., latest Aug 7, 2026 (3 filings since Feb 5, 2026)
- BlackRock Filed SCHEDULE 13G on Sharplink, Inc., latest Jul 30, 2026
- Citadel Securities GP LLC Filed SCHEDULE 13G on Sharplink, Inc., latest Aug 15, 2025
- JANE STREET GROUP, LLC Filed SCHEDULE 13G/A on Sharplink, Inc., latest Aug 14, 2025 (2 filings since Jun 6, 2025)
- ALPHA CAPITAL ANSTALT Filed SCHEDULE 13G/A on Sharplink, Inc., latest May 30, 2025 (2 filings since Mar 18, 2024)
- Sharplink, Inc. Minneapolis, Minnesota, United States
- FourCubed Acquisition Company, LLC Subsidiary · Delaware, United States
- Management and Investment Company Bohera B.V. Subsidiary · Netherlands
- MTS Asia ltd. Subsidiary · Hong Kong
- SharpLink Gaming Ltd. Subsidiary · Israel
- SHGN Acquisition Corp. Subsidiary · Delaware, United States
- Tabs Brazil Subsidiary · Brazil
- Trendfront Marketing International Limited Subsidiary · Malta
Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What Sharplink, Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Property and equipment
| Item | Latest | A year before | Change |
|---|---|---|---|
| Accumulated depreciation | $31.9K9 Dec 31, 2024 | $24.8K9 Dec 31, 2023 | +28.9% |
| Property and equipment, net | $10.0K7 Dec 31, 2025 | $3.0K7 Dec 31, 2024 | +233.3% |
Intangibles and goodwill
| Item | Latest | A year before | Change |
|---|---|---|---|
| Intangible assets, net (excluding goodwill) | $8.0K7 Dec 31, 2025 | $13.0K7 Dec 31, 2024 | −38.5% |
| Accumulated amortization | $11.5K9 Dec 31, 2024 | $998.7K9 Dec 31, 2023 | −98.8% |
Properties, in its own words
After the consummation of the Sale of Business in January 2024, the Company was required to pay RSports a monthly amount for shared lease space and certain IT support services at the same address at $1,000 per month. This agreement was on a month-to-month basis and could be terminated upon notice to RSports prior to the next monthly payment. The Company terminated this arrangement on December 31, 2025. On January 1, 2026, the Company commenced an office space license to use designated office space at 200 S. Biscayne Blvd., Miami, FL 33131. The short-term lease is a 12 month agreement for professional office space for a monthly fee of $165. The agreement may be terminated by the Company upon a written notice provided five (5) days in advance prior to the last day of the least term. If the agreement is not terminated by the Company, the lease will continue on a month-to-month basis.
Item 2 of the 10-K filed Mar 9, 2026.6
Leadership
Who has led Sharplink, Inc., and when. Pick a name to see everywhere that person has worked.
Chief executive
Chief financial officer
2025
- Chief executive officerJoseph Chalom Aug 4, 2025 to now12
- Chief executive officerRob Phythian Feb 13, 2024 to Aug 4, 202513
- Chief financial officerRobert Michael Delucia Feb 13, 2024 to now14
Board members and other officers (9)
- Chief Accounting OfficerDana Eschenburg Perez May 14, 2026 to now15
- Chief Investment OfficerMatthew A. Sheffield Jun 9, 2026 to now16
- Chief Development OfficerMichael D. Camarda Jun 11, 2026 to now17
- Board memberJoseph Chalom Jan 12, 2026 to now18
- Board memberAdrienne Anderson Feb 13, 2024 to Feb 13, 202419
- Board memberLeslie Bernhard Feb 13, 2024 to now20
- Board memberObie McKenzie Feb 13, 2024 to now21
- Board memberRob Phythian Feb 13, 2024 to now13
- Board memberRobert M. Gutkowski Apr 1, 2024 to now22
Named in SEC Form D filings
People the company listed in its private-offering notices.
- Chairman of the Board of DirectorsJoseph Lubin named Jun 10, 202523
Subsidiaries and ownership
Subsidiaries (Exhibit 21)
- FourCubed Acquisition Company, LLC Delaware5
- MTS Asia ltd. Hong Kong5
- Management and Investment Company Bohera B.V. Netherlands5
- SHGN Acquisition Corp. Delaware5
- SharpLink Gaming Ltd. Israel5
- SharpLink, Inc. Minnesota5
- Tabs Brazil Brazil5
- Trendfront Marketing International Limited Malta5
The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.
Former names
- SharpLink Gaming, Inc.Jun 15, 2023 to Feb 3, 20264
Timeline
- Aug 10, 20268-K Results of operations24
- Jun 30, 20268-K Regulation FD disclosure; Other events25
- Jun 23, 20268-K Entered a material agreement; Other events26
- May 11, 20268-K Results of operations; Regulation FD disclosure27
- Apr 14, 20268-K Shareholder vote28
- Apr 3, 20268-K Ended a material agreement29
- Mar 9, 20268-K Results of operations30
- Feb 19, 20268-K Regulation FD disclosure; Other events31
- Feb 3, 20268-K Bylaws or fiscal year changed; Regulation FD disclosure32
- Dec 17, 20258-K Executive or director change; Bylaws or fiscal year changed; Regulation FD disclosure33
- Nov 13, 20258-K Results of operations34
- Nov 12, 20258-K Results of operations35
- Aug 4, 2025New chief executive Joseph Chalom becomes CEO12
- Feb 13, 2024New chief executive Rob Phythian becomes CEO13
- Jan 26, 2022Founded Sharplink, Inc. is founded2
Calendar
Coming up
- Nov 11, 2026Reports results for the quarter ending Sep/2026 A year earlier it reported ($0.02) a share, on Nov 12, 2025.36
When it reported results
- Aug 10, 2026Reported quarterly or annual results24
- May 11, 2026Reported quarterly or annual results27
- Mar 9, 2026Reported quarterly or annual results30
- Nov 13, 2025Reported quarterly or annual results34
- Nov 12, 2025Reported quarterly or annual results35
- Aug 15, 2025Reported quarterly or annual results37
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
236 filings to the SEC since October 2021: 4 annual reports, 8 quarterly reports, 60 major events, 95 insider forms, 13 large holders, 1 private raises, 55 other. The latest 20:
- Oct 13, 20264 EDGAR
- Oct 13, 2026SCHEDULE 13D/A EDGAR
- Sep 10, 20264 EDGAR
- Aug 14, 2026SCHEDULE 13G EDGAR
- Aug 10, 20268-K EDGAR
- Aug 7, 202610-Q EDGAR
- Aug 7, 2026SCHEDULE 13G EDGAR
- Aug 6, 2026SCHEDULE 13G/A EDGAR
- Jul 30, 2026SCHEDULE 13G EDGAR
- Jul 27, 20264 EDGAR
- Jul 27, 20264 EDGAR
- Jul 27, 20264 EDGAR
- Jul 27, 20264 EDGAR
- Jul 27, 20264 EDGAR
- Jul 27, 20264 EDGAR
- Jul 7, 20264 EDGAR
- Jul 7, 20264 EDGAR
- Jul 7, 20264 EDGAR
- Jul 7, 20264 EDGAR
- Jul 7, 20264 EDGAR
The 236 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
9 open-market trades by officers, directors and large owners since October 2021: 2 buys and 7 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| May 12, 2026 | MCKENZIE OBIEDirector | Sale | 12,892 | $7.41 | $95.5K | Form 4 |
| May 12, 2026 | Bernhard LeslieDirector | Sale | 12,892 | $7.41 | $95.5K | Form 4 |
| May 12, 2026 | GUTKOWSKI ROBERT MDirector | Sale | 12,892 | $7.41 | $95.5K | Form 4 |
| Mar 31, 2026 | DeLucia Robert MichaelChief Financial Officer | Sale | 2,848 | $6.21 | $17.7K | Form 4 |
| Aug 18, 2025 | MCKENZIE OBIEDirector | Sale | 18,334 | $19.17 | $351.5K | Form 4 |
| Aug 18, 2025 | GUTKOWSKI ROBERT MDirector | Sale | 18,334 | $19.17 | $351.5K | Form 4 |
| Aug 18, 2025 | Bernhard LeslieDirector | Sale | 18,334 | $19.17 | $351.5K | Form 4 |
| May 30, 2025 | Phythian RobCo-Chief Executive Officer | Buy | 44,640 | $6.72 | $300.0K | Form 4 |
| May 30, 2025 | DeLucia Robert MichaelChief Financial Officer | Buy | 7,440 | $6.72 | $50.0K | Form 4 |
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- Joseph Michael LubinSCHEDULE 13D/A, 3 filings Jun 6, 2025 to Oct 13, 202638
- HIGHBRIDGE CAPITAL MANAGEMENT LLCSCHEDULE 13G, 1 filing Aug 14, 202639
- FMR LLCSCHEDULE 13G, 3 filings Feb 5, 2026 to Aug 7, 202640
- BlackRockSCHEDULE 13G, 1 filing Jul 30, 202641
- Citadel Securities GP LLCSCHEDULE 13G, 1 filing Aug 15, 202542
- JANE STREET GROUP, LLCSCHEDULE 13G/A, 2 filings Jun 6, 2025 to Aug 14, 202543
- ALPHA CAPITAL ANSTALTSCHEDULE 13G/A, 2 filings Mar 18, 2024 to May 30, 202544
Executive pay
What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.
| Year | Executive | Age | Salary | Total pay |
|---|---|---|---|---|
| 2025 | Rob Phythian | $467.5K | $11.0M45 | |
| 2025 | Joseph Chalom | 54 | $317.3K | $10.5M45 |
| 2025 | Robert DeLucia | 62 | $345.3K | $5.4M45 |
| 2024 | Former President and Chief Executive Officer | $276.3K | $753.2K45 | |
| 2024 | Chief Financial Officer | $219.6K | $538.0K45 |
Funding
Where the company's money came from, by calendar year: private offerings filed with the SEC, federal grants, loans, contracts and other assistance from USAspending.gov, and PPP loans from the SBA. Each bar links to the records below.
- Private raises (Form D) $425.0M
Figures by year
| Year | Private raises (Form D) | Total |
|---|---|---|
| 2025 | $425.0M | $425.0M |
Private raises
Private offerings the company reported to the SEC on Form D. The amount is what the latest filing says was sold so far, charted in the year of the first sale. Covers filings since Oct 1, 2021.
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
| Fund | Shares | Value | Share of the fund | Change |
|---|---|---|---|---|
| BlackRock, Inc. | 16,139,807 | $77.5M | 0.0% | +12,557,670 |
| Highbridge Capital Management LLC | 14,357,573 | $68.9M | 3.7% | +13,668,620 |
| Fmr LLC | 9,348,731 | $44.9M | 0.0% | −9,213,124 |
| Geode Capital Management, LLC | 5,472,724 | $37.7M | 0.0% | +3,144,662 |
| Renaissance Technologies LLC | 5,835,400 | $28.0M | 0.0% | +4,022,894 |
| UBS Group AG | 4,703,344 | $22.6M | 0.0% | −128,774 |
| Invesco Ltd. | 4,431,363 | $21.3M | 0.0% | +1,186,397 |
| Citadel Advisors LLC | 4,151,084 | $19.9M | 0.0% | +910,050 |
| State Street Corp | 3,650,602 | $17.5M | 0.0% | +2,682,350 |
| Morgan Stanley | 3,109,789 | $14.9M | 0.0% | +1,373,845 |
| Weiss Asset Management LP | 2,313,221 | $11.1M | 0.2% | −729,327 |
| Vanguard Capital Management LLC | 2,260,472 | $10.9M | 0.0% | +62,200 |
| Tidal Investments LLC | 2,250,095 | $10.8M | 0.0% | −83,918 |
| Millennium Management LLC | 1,946,094 | $9.3M | 0.0% | −4,435,579 |
| Susquehanna International Group, Llp | 1,833,037 | $8.8M | 0.0% | +213,870 |
| Philosophy Capital Management LLC | 1,633,918 | $7.8M | 0.8% | +100,000 |
| Charles Schwab Investment Management Inc | 1,625,425 | $7.8M | 0.0% | +426,205 |
| Northern Trust Corp | 1,596,941 | $7.7M | 0.0% | +1,157,983 |
| Bank Of America Corp /de/ | 1,541,561 | $7.4M | 0.0% | +266,119 |
| Goldman Sachs Group Inc | 1,539,633 | $7.4M | 0.0% | +692,574 |
| Macquarie Group Ltd | 1,432,339 | $6.9M | 0.0% | New |
| Citigroup Inc | 1,394,505 | $6.7M | 0.0% | +265,755 |
| Vanguard Portfolio Management LLC | 1,371,582 | $6.6M | 0.0% | +1,260,595 |
| Vanguard Fiduciary Trust Co | 1,147,712 | $5.5M | 0.0% | +108,394 |
| Nuveen, LLC | 816,657 | $3.9M | 0.0% | New |
13F reports cover disclosed long positions in U.S. stocks only.
SEC filer profile
How Sharplink, Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARSharplink, Inc.1
- CIK0001981535
- Employer ID (EIN)87-47522606
- Filer statusNon-accelerated filer not an emerging growth company; a smaller reporting company; a shell company6
- Incorporated inDelaware6
- Fiscal year endsDecember 311
- Industry code (SIC)6199 Finance Services1
- SEC reviewing officeOffice of Crypto Assets, Division of Corporation Finance1
- Business address200 S. Biscayne Boulevard, Miami, FL 331311
- Phone(612) 293-06191
- Shares outstanding217,223,604 as of Aug 3, 202611
- Public float$665.3M as of Mar 31, 20256
- AuditorKPMG LLP, McLean, Virginia PCAOB ID 185; no auditor attestation of internal control over financial reporting6
- On EDGAR sinceJun 15, 20231
- Filings236 in all: 4 (72), 8-K (57), 4/A (12), 3 (11), 10-Q (8), 424B5 (7), CORRESP (6), SCHEDULE 13G (6)1
All 37 form types
DEF 14A (5), 144 (4), EFFECT (4), PRE 14A (4), 10-K (3), S-8 (3), SCHEDULE 13G/A (3), 424B3 (2), 8-K/A (2), POS AM (2), S-1/A (2), S-3ASR (2), S-4/A (2), S-8 POS (2), SCHEDULE 13D/A (2), UPLOAD (2), 10-K/A (1), 424B4 (1), 8-K12B (1), ARS (1), AW (1), D (1), DRS (1), NT 10-Q (1), S-1 (1), S-3 (1), S-4 (1), SC 13G (1), SCHEDULE 13D (1)
- Latest filingsAnnual report (10-K) Mar 9, 2026
Quarterly report (10-Q) Aug 7, 2026
Proxy statement (DEF 14A) Mar 17, 2026
Latest 8-K (8-K) Aug 10, 2026
Securities registered for trading
| Class | Symbol | Exchange |
|---|---|---|
| Common Stock, $0.0001 per share | SBET | Nasdaq |
From the cover page of the 10-K filed Mar 9, 2026 (Section 12(b) of the Exchange Act).6
Risk factors and legal proceedings
The risks Sharplink, Inc. names in Item 1A of its 10-K filed Mar 9, 2026: 56 risks under these headings, as written.6
- Regulatory and Legal Risks Related to Digital Assets
- Absent federal regulations, there is a possibility that ETH and LsETH may be classified as a “security.” Any classification of ETH and LsETH as a “security” would subject us to additional regulation and could materially impact the operation of our business.
- If we were deemed to be an investment company under the Investment Company Act, applicable restrictions likely would make it impractical for us to continue segments of our business as currently contemplated.
- We are not subject to legal and regulatory obligations that apply to investment companies such as mutual funds and exchange-traded funds, or to obligations applicable to investment advisers.
- Legislative or regulatory change regarding the regulation of “commodities” by the Commodities Futures Trading Commission (“CFTC”) and the potential regulation of digital assets as “digital commodities” could subject us to additional regulatory burdens and oversight by the CFTC and could adversely affect the market price of ETH and the market price of our listed securities.
- The launch of central bank digital currencies (“CBDCs”) may adversely impact our business.
- Changes in regulatory interpretations could require us to register as a money services business or money transmitter, leading to increased compliance costs or operational shutdowns.
- Risks Related to Our Digital Asset Treasury Strategy and ETH Exposure
- Our digital asset treasury strategy exposes us to various risks, including risks associated with ETH.
- We have engaged in decentralized finance transactions and deploy ETH using liquid staking protocols, which present additional risk as opposed to simply holding our digital assets.
- The emergence or growth of other digital assets, including those with significant private or public sector backing, could have a negative impact on the price of ETH and adversely affect our business.
- Operational, Financial Reporting and Capital Stock Risks
The other 46 risks
- ETH is a highly volatile asset and fluctuations in the price of ETH are likely to influence our financial results and the market price of our listed securities.
- We may be subject to regulatory developments related to digital assets and digital asset markets, which could adversely affect our business, financial condition, and results of operations.
- The availability of spot ETPs for ETH and other digital assets may adversely affect the market price of our listed securities.
- Our historical financial statements do not reflect the potential variability in earnings that we may experience in the future relating to our ETH and LsETH holdings.
- Our shift towards an ETH-focused treasury strategy requires substantial changes in our day-to-day operations and exposes us to significant operational risks.
- Our ETH holdings are less liquid than our existing cash and cash equivalents and may not be able to serve as a source of liquidity for us to the same extent as cash and cash equivalents.
- We plan to purchase additional digital assets using primarily proceeds from equity and debt financings, but we may be unable to obtain such financings on favorable terms.
- We incur significant costs as a result of operating as a public reporting company, and our management is required to devote substantial time to regulatory compliance initiatives.
- If we are unable to recruit or retain skilled personnel, or if we lose the services of our Chairman of the Board of Directors and/or our Chief Executive Officer, and Chief Financial Officer, our business, operating results, and financial condition could be materially adversely affected.
- Our Common Stock has traded below the value of the digital assets we hold and may trade at a discount to the value of the digital assets in the future.
- The market price of our Common Stock may be volatile and subject to significant fluctuations.
- Future issuances of equity securities could dilute existing stockholders.
- Our capital stock structure and potential future financings may increase stock price volatility.
- Concentrated ownership or the issuance of shares to strategic investors could influence matters requiring stockholder approval.
- The absence of dividends may limit the return on an investment in our Common Stock.
- Provisions in our organizational documents and under applicable law could discourage or delay a change of control.
- If securities analysts or investors do not continue to view the Company as an attractive investment, the trading price of our Common Stock could decline.
- An active trading market for our Common Stock may not be sustained.
- Custody and Technology Risks
- If we or our third-party service providers experience a security breach or cyberattack and unauthorized parties obtain access to our ETH, or if our private keys are lost or destroyed, or other similar circumstances or events occur, we may lose some or all of our ETH and our financial condition and results of operations could be materially adversely affected.
- Our ETH treasury management strategy exposes us to risk of non-performance by providers and counterparties.
- Our custodians’ digital asset insurance may not be sufficient to make us whole in the event of any loss of ETH.
- Cybersecurity incidents and other issues related to our information systems, technology and data may affect us materially and adversely.
- We face risks relating to the custody of our ETH and ETH-related digital assets, including the loss or destruction of private keys required to access our ETH and ETH-related digital assets and cyberattacks or other data loss relating to our ETH.
- ETH is created and transmitted through the operations of the peer-to-peer Ethereum network, a decentralized network of computers running software following the Ethereum protocol. If the Ethereum network is disrupted or encounters any unanticipated difficulties, the value of Ethereum could be negatively impacted.
- A “fork” in the Ethereum protocol could adversely affect the value of the Company’s shares.
- Blockchain technology may expose us to sanctioned or blocked persons or may result in unintentional or inadvertent violations of economic sanctions and anti-money laundering laws and regulations.
- Changes in the governance of a digital asset network or protocol may not receive sufficient support from users and validators, which may negatively affect that digital asset network’s or protocol’s ability to grow and respond to challenges.
- If the digital asset award or transaction fees for recording transactions on the Ethereum Network are not sufficiently high to incentivize validators, or if certain jurisdictions continue to limit or otherwise regulate validating activities, validators may cease expanding validating power or demand high transaction fees, which could negatively impact the value of Ether and the value of our Common Stock.
- Digital asset networks face significant scaling challenges and efforts to increase the volume and speed of transactions may not be successful.
- If a malicious actor or botnet obtains control of more than 33% of the validating power on the Ethereum Network, or otherwise obtains control over the Ethereum Network through its influence over core developers or otherwise, such actor or botnet could manipulate the Ethereum Network to adversely affect the value of our Common Stock.
- Digital asset networks are developed by a diverse set of contributors and the perception that certain high-profile contributors will no longer contribute to the network could have an adverse effect on the market price of the related digital asset.
- Due to the unregulated nature and lack of transparency surrounding the operations of many ETH trading venues, ETH trading venues may experience greater fraud, security failures or regulatory or operational problems than trading venues for more established asset classes, which may result in a loss of confidence in ETH trading venues and adversely affect the value of our ETH and ETH-related digital assets.
- Affiliate Marketing Business Risks and the Industries We Serve
- We rely on our relationships with sportsbooks and online casino gaming operators and any loss of existing relationships or failure to renew or expand existing relationships may cause loss of a competitive advantage or require us to modify, limit or discontinue certain offerings, which could materially and adversely affect our affiliate marketing business, financial condition, results of operations and prospects.
- We operate in a competitive market and may lose clients and relationships to both existing and future competitors.
- Our affiliate marketing business may be materially and adversely affected if we are unable to keep pace with or adapt to rapidly changing technology, evolving industry standards and changing regulatory requirements, or if we do not invest in product development and provide services that are attractive to our partners.
- Our affiliate marketing operations are subject to seasonal fluctuations that may impact results of operations and cash flow.
- We depend on a limited number of customers for a substantial portion of our affiliate marketing services and the loss of customers, unfavorable changes to terms in customer contracts or unfavorable changes in the markets served by our customers due to geopolitical, regulatory or other facts could materially and adversely affect our revenue, profitability and financial condition.
- We and our sports betting and iGaming partners are subject to complex laws and regulations, which are subject to change and interpretation, and which could subject us to claims or otherwise harm us and our clients. Any change in existing regulations or their interpretation, or the regulatory climate and requirements applicable to us or our partners’ businesses, could have a material adverse impact on our business, prospects, financial condition and results of operations.
- Failure to obtain or maintain the required regulatory approvals and licenses in the various jurisdictions that we operate or intend to operate, whether individually or collectively, could have a material adverse effect on our business.
- Our growth prospects depend on the legal status of real money gaming in various jurisdictions, predominantly within the United States, and legalization may not occur in as many states as we expect or may occur at a slower pace that we anticipate. Additionally, even if jurisdictions legalize sports betting and online casino gaming, this may be accompanied by legislative or regulatory restrictions and/or taxes that make it impracticable or less attractive to operate in those jurisdictions.
- We have been, and will continue to be, the subject of governmental investigations and inquiries with respect to the operation of our affiliate marketing businesses and we could be subject to future governmental investigations and inquiries, legal proceedings and enforcement actions. Any such investigation, inquiry, proceeding or action could adversely affect our business.
- Reductions in discretionary consumer spending could have an adverse effect on our business, financial condition, results of operations and prospects.
- A portion of the operation of our Affiliate Marketing segment is in non-U.S. jurisdictions, which subjects the Company to the economic, political, regulatory and other risks of international operations.
- Our failure to protect or enforce our proprietary and intellectual property rights, including our unregistered intellectual property, and the costs involved in such protection and enforcement, could harm our business, financial condition, results of operations and prospects.
- We may face claims for intellectual property infringement, which could subject it to monetary damages or limit us in using some of our technologies or providing certain solutions.
Legal proceedings
Legal Proceedings
From time to time, we may become involved in various lawsuits and legal proceedings that arise in the ordinary course of our business. Litigation is, however, subject to inherent uncertainties, and an adverse result in these or other matters may arise from time to time that may harm our business. We are currently not aware of any legal proceedings or claims that we believe would or could have, individually or in the aggregate, a material adverse effect on us. Regardless of final outcomes, however, any such proceedings or claims may nonetheless impose a significant burden on management and employees and may come with costly defense costs or unfavorable preliminary interim rulings.
The opening of Item 3, Legal Proceedings.6
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1SEC EDGARSharplink, Inc. filings on SEC EDGAR
- 2
- 3Yahoo FinanceSBET quote
- 4SEC EDGARSharplink, Inc. filings on SEC EDGAR
- 5
- 6
- 7SEC EDGARSharplink, Inc. 10-K for fiscal 2025
- 8SEC EDGARSharplink, Inc. 10-K for fiscal 2022
- 9SEC EDGARSharplink, Inc. 10-K for fiscal 2023
- 10SEC EDGARSharplink, Inc. 10-Q for fiscal 2026
- 11SEC EDGARSharplink, Inc. 10-Q for fiscal 2026
- 12
- 13
- 14
- 15
- 16
- 17
- 18SEC EDGARJoseph Chalom, Board member
- 19SEC EDGARAdrienne Anderson, Board member
- 20SEC EDGARLeslie Bernhard, Board member
- 21SEC EDGARObie McKenzie, Board member
- 22SEC EDGARRobert M. Gutkowski, Board member
- 23
- 24SEC EDGARResults of operations
- 25
- 26
- 27
- 28SEC EDGARShareholder vote
- 29SEC EDGAREnded a material agreement
- 30SEC EDGARResults of operations
- 31
- 32
- 33
- 34SEC EDGARResults of operations
- 35SEC EDGARResults of operations
- 36NasdaqNasdaq calendar
- 37
- 38
- 39
- 40
- 41
- 42
- 43
- 44
- 45