Sales up 666.1%, free cash flow up to -$17.6M
The latest figures
All key numbers (30) From EDGAR
| EPS (ttm) | -7.37 | Sales (ttm) | 52.8M | Net income (ttm) | -1.1B | Sales growth | +666% | EPS growth | -127% | Sales Q/Q | +24.1% |
| Free cash flow | -34.2M | Gross margin | - | Oper. margin | n/m | Net margin | n/m | FCF margin | -64.8% | ROE | -49.1% |
| ROA | -48.9% | R&D / sales | - | Dividend | - | Debt/Eq | - | Curr. ratio | 8.08 | Cash | 47.9M |
| Op. cash flow (ttm) | -34.2M | EBITDA | -733.9M | EBITDA margin | n/m | Quick ratio | 8.08 | Stock pay / sales | 48.7% | Shares out. | 217.3M |
| Book / share | 9.96 | Cash / share | 0.22 | Sales / share | 0.24 | Asset turnover | 0.02 | Days sales out. | 3 | Sales 3Y CAGR | +100% |
Hover or tap a number to see the XBRL line item and filing it comes from; click it to open that filing at SEC. What each number means. Looks wrong? Tell us.
Changes in the numbers
FY2025 against FY2024-
Revenue growth sped up to +666.1%-26.1% → +666.1% · Revenue FY2025 / revenue FY2024 − 1, against the same a year earlier · 10-K ↗
-
Operating margin narrowed to -2616.0%-130.1% → -2616.0% · Operating income / revenue · 10-K ↗
-
Net income turned to a loss$10.1M → −$734.6M · Net income attributable to the company · 10-K ↗
SBET against Crypto peers
Ten years, side by side → · All 32 →Each side 0 to 100, ranked against every company we cover: relative position on reported figures, not a buy score. How
Every dot is one of the 32 companies, the better end on the right. Hover a dot for the company.
| Company | Revenue (ttm) | Sales growth | Gross margin | Net margin | ROE | FCF margin | Debt / equity |
|---|---|---|---|---|---|---|---|
| SBET Sharplink | $52.8M | +666% | - | - | -49.1% | -64.8% | - |
| FWDI Forward Industries | $53.1M | -9.0% | 70.6% | - | - | -34.6% | - |
| UPXI Upexi | $19.2M | +58.1% | 90.8% | - | - | -100.9% | 1.16 |
| BTCS BTCS | $16.6M | +305% | 26.9% | -746.3% | - | -47.1% | - |
| DFDV DeFi Development | $15.1M | +442% | 97.8% | - | - | -198.9% | - |
| HSDT Solana Company | $12.1M | - | 95.5% | - | -94.9% | -223.2% | - |
Profitability
0 of 3- !Net margin below the peer median-2012.4% vs -158.3%
- !Return on equity below 15%-49.1%
- !A profit in 1 of 4 years
Each tick is a fact with a fixed rule (on /methodology), not a score or advice. A check without the numbers it needs is left out.
Revenue and net income, FY2022 to FY2025
Revenue 28.1M Net income -734.6MFrom XBRL in each 10-K. Hover a bar for the line item and filing. Full financials →
Where the $28.1M of revenue came from
by segment, year to Dec 31, 2025- ETH Staking Segmet $25.6M · 91%
- Affiliate Marketing Services $2.5M · 9%
From the segment tables in the 10-K XBRL. Revenue by segment, product and region →
Income statement, balance sheet and cash flow
SBET's income statement, balance sheet and cash flow as reported to the SEC in XBRL, one column per fiscal year. Hover a number to see the line item and filing it comes from. Where a company changed how it tags a line, the first tag it reported for that period is used. A number looks wrong? Tell us.
Revenue by business segment
year to Dec 31, 2025| Revenue | Share | vs year before | |
|---|---|---|---|
| ETH Staking Segmet | 25.6M | 91.2% | +599% |
| Affiliate Marketing Services | 2.5M | 8.8% | -32.8% |
10-K 0001493152-26-009214, segment and revenue notes (XBRL).
Income statement
From EDGAR| FY2022 | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|
| Revenue | 3.5M | 5.0M | 3.7M | 28.1M |
| Cost of revenue | 2.2M | 3.4M | 2.8M | - |
| Gross profit | 1.3M | 1.5M | 906K | - |
| SG&A | 10.9M | 8.0M | 5.7M | 42.4M |
| Operating income | -14.3M | -8.9M | -4.8M | -733.9M |
| Interest expense | 109K | 1.2M | 325K | - |
| Pretax income | -14.1M | -11.2M | -4.5M | -733.5M |
| Income tax | -13K | 16K | -232 | 1.0M |
| Net income | -15.2M | -14.2M | 10.1M | -734.6M |
| EPS (diluted) | -6.13 | -5.17 | 27.62 | -7.37 |
| Diluted shares | 2.5M | 2.8M | 337K | 99.7M |
| Depreciation & amortization | 912K | 107K | 12K | 9K |
| EBITDA | -13.4M | -8.8M | -4.8M | -733.9M |
| Gross margin | 37.7% | 30.9% | 24.7% | - |
| Operating margin | -409.3% | -179.6% | -130.1% | -2616.0% |
| Net margin | -436.5% | -287.6% | 275.8% | -2618.4% |
| Revenue growth | - | +41.9% | -26.1% | +666% |
| EPS growth | - | - | - | -127% |
Balance sheet
From EDGAR| FY2022 | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|
| Cash | 1.4M | 2.5M | 1.5M | 28.5M |
| Receivables | 441K | 415K | 265K | 221K |
| Current assets | 53.9M | 71.1M | 2.6M | 31.2M |
| Property & equipment | 22K | 9K | 3K | 10K |
| Goodwill | 1.6M | - | - | - |
| Total assets | 65.0M | 71.3M | 2.6M | 2.4B |
| Accounts payable | 689K | 834K | 281K | - |
| Current liabilities | 58.9M | 79.2M | 489K | 12.7M |
| Total debt | 2.1M | 2.1M | 0 | - |
| Total liabilities | 62.1M | 80.7M | 489K | 12.7M |
| Shareholders' equity | 3.0M | -9.4M | 2.1M | 2.4B |
| Retained earnings | -73.6M | -87.9M | -77.8M | -812.4M |
Cash flow
From EDGAR| FY2022 | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|
| Operating cash flow | -5.9M | 583K | -22.8M | -17.5M |
| Capital spending | 13K | 12K | 2K | 11K |
| Free cash flow | -6.0M | 571K | -22.8M | -17.6M |
| Stock-based pay (added back) | 1.9M | 261K | 149K | 13.7M |
| Buybacks | - | - | - | 31.7M |
| Acquisitions | 388K | - | - | - |
| Debt raised | 3.2M | - | - | - |
| Debt repaid | 549K | 620K | 2.1M | - |
| Investing cash flow | 48.3M | -1.0M | -18.7M | -3.0B |
| Financing cash flow | 2.7M | 9.8M | -17.4M | 3.0B |
Stock-based pay and leases
From EDGARFrom SEC's XBRL company facts (data.sec.gov). EBITDA = operating income + depreciation and amortization; free cash flow = operating cash flow - capital spending; total debt = long-term debt (with its current part) + short-term borrowings. Stock-based pay and leases are shown as the company reports them; Tickdelta does not take them out of earnings or add leases to debt. Click a number to open the filing in SEC's Inline XBRL viewer, where you can click the same number to see how it is tagged. Values a company later revised show as revised; the Revised numbers tab lists the changes.