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SBETSharplink

Crypto · Financial Services · Nasdaq

Sharplink undertook a significant strategic shift in June 2025 in our business operations by becoming one of the world’s largest publicly traded companies to adopt Ether (“ETH”), the native token of the Ethereum blockchain, as its primary treasury asset. 10-K, Item 1

Headquarters
Miami, FL
CEO
Joseph Chalom
Next results
around Mar 8, 2027
Compare with peers → Embed
RevenueFY2022–25 $28.1M+666.1% FY2024: $3.7M 10-K FY2025 · XBRL Net incomeFY2022–25 −$734.6M FY2024: $10.1M 10-K FY2025 · XBRL Free cash flowFY2022–25 −$17.6M FY2024: −$22.8M 10-K FY2025 · XBRL

What changed

10-K filed Mar 9, 2026 against Mar 14, 2025
AreaWhat changedSource
Risk factors141 new paragraphs, nothing like them in the previous 10-K10-K Item 1A
Auditor change8-K item 4.01 (change in certifying accountant) filed 2025-07-0910-K · XBRL
Going concern language“The Company had recurring losses and negative cash flows from operations that raise substantial doubt about their ability to continue as a going concern.”10-K · XBRL
Critical audit matters changedNew this year: Evaluation of audit evidence pertaining to the existence and rights to the digital assets (“As discussed in Notes 2(d), (e) and (f) to the consolidated financial statements, the Company’s digital assets are comprised of crypto assets at fair value, crypto assets at cost, and USDC stablecoin. These assets are held through custodial arrangements with qualified third-party custodians and incl”); We evaluated the design and implementation; We obtained confirmation of the; We compared the Company’s; We obtained and assessed the. No longer listed: Revenue from Contracts with Customers; Description of Matter; Convertible Debenture and Related Warrants; Description of Matter. Same as last year: F-210-K · XBRL
Accounting checks6 other checks clear, 3 worth a look10-K · XBRL
InsidersNo open-market buys in the last 90 daysForm 4
Filings2 in the last 30 daysEDGAR

Each row opens the detail with the quote and the filing. A row is a change worth reading, not a verdict.

What's new, in their words

10-K filed Mar 9, 2026

Paragraphs in Risk Factors that were not in the 10-K filed 2025-03-14. Quoted as filed.

  1. You should carefully consider the risks described below before making an investment decision. The risks and uncertainties described in this section may not be the only ones we face. Additional risks and uncertainties that are not currently known to us, or that we currently deem immaterial, may also impair our business operations or…
    10-K, Item 1A
All 141 new paragraphs →

Accounting checks

latest 10-K

6 of 9 clear 3 worth a look. Checks, not verdicts.

  • !
    Auditor change8-K item 4.01 (change in certifying accountant) filed 2025-07-09
  • !
    Going concern language“The Company had recurring losses and negative cash flows from operations that raise substantial doubt about their ability to continue as a going concern.”
  • !
    Critical audit matters changedNew this year: Evaluation of audit evidence pertaining to the existence and rights to the digital assets (“As discussed in Notes 2(d), (e) and (f) to the consolidated financial statements, the Company’s digital assets are comprised of crypto assets at fair value, crypto assets at cost, and USDC stablecoin. These assets are held through custodial arrangements with qualified third-party custodians and incl”); We evaluated the design and implementation; We obtained confirmation of the; We compared the Company’s; We obtained and assessed the. No longer listed: Revenue from Contracts with Customers; Description of Matter; Convertible Debenture and Related Warrants; Description of Matter. Same as last year: F-2
  • ✓
    Receivables -16.6% vs revenue +666.1% (-682.7 pts)
  • ✓
    No 8-K item 4.02 in the last 2 years
  • ✓
    No NT 10-K or NT 10-Q in the last 2 years
  • ✓
    No sentence in the 10-K concludes that controls were not effective because of a material weakness
  • ✓
    No 8-K item 2.06 in the last 2 years
  • ✓
    No 8-K item 1.03 in the last 2 years
How each check works, with sources →

In the last 30 days

All filings →

Work on SBET in a spreadsheet: Excel workbook (a sheet per section, ten years by column, charts, links to the filings) · CSV. For a Google Sheet that stays up to date, paste =IMPORTDATA("https://tickdelta.com/company/SBET/export.csv") into a cell.