Sharplink Reports Third Quarter 2026 Financial and Operating Results
Exhibit 99.1 Sharplink Reports Third Quarter 2026 Financial and Operating Results
Revenue up 24% YoY to $13.5 Million; Net Income of $751.4 Million or $3.45 Per Diluted Share MIAMI, FL — November 9, 2026— Sharplink, Inc. (Nasdaq: SBET) (“Sharplink” or the “Company”), one of the world’s largest corporate holders of Ether (“ETH”) and prominent industry advocate of Ethereum adoption, today reported financial and operating results for the three and nine months ended September 30, 2026, along with an update on its ETH treasury strategy.
“Our strong third quarter performance reflects our progress in executing our Ethereum treasury strategy and further strengthening our institutional-grade treasury platform,” said Joseph Chalom, Chief Executive Officer of Sharplink. “We are focused on maximizing the productivity of our ETH holdings, maintaining a disciplined approach to capital allocation and supporting the broader Ethereum ecosystem. Our relentless focus translates into tangible financial results, highlighted by double-digit revenue growth, improved operating leverage and a material increase in net income. We believe these results reinforce the strength of our strategy and the opportunities ahead as Ethereum continues to gain traction across global financial markets.”
Continuing, Chalom noted, “During the quarter, we made meaningful progress putting our ETH treasury to work, completing our $200 million Lido staking allocation and beginning capital deployment through the Galaxy Sharplink Onchain Yield Fund. These milestones reflect our belief that ETH should be managed as a productive operating asset rather than simply held for potential appreciation. Our permanent capital base enables us to pursue longer-duration treasury deployments and differentiated yield opportunities, while maintaining a disciplined approach to risk management. As Ethereum’s institutional adoption continues to accelerate, we believe Sharplink is well-positioned to leverage our scale, institutional expertise and ecosystem relationships to generate incremental ETH, grow ETH-per-share and create sustainable long-term value for shareholders.”
Total revenue increased 24% to $13.5 million for the three months ended September 30, 2026, compared ● with $10.8 million in the prior-year quarter. Staking revenue grew 27% to $13.1 million from $10.3 million, reflecting Sharplink’s ongoing ETH treasury management activities. SG&A expenses decreased 8% to $11.0 million, compared with $12.0 million in ● the prior-year quarter, as the Company continued to carefully manage the operating costs of its treasury platform. Net income increased to $751.4 million, or $3.45 per diluted share, compared ● with net income of $104.3 million, or $0.62 per diluted share, in the prior year quarter. The increase was driven principally by unrealized and realized gains on crypto assets.
Unrealized ○ gains: $676.7 million primarily reflecting ETH market conditions in the third quarter of 2026. Net ○ realized gain: $75.2 million primarily related to ETH treasury activities, including liquid staking transactions. Unrealized gains reflect changes in the fair value of the Company’s ETH holdings and do not represent ○ cash proceeds or a change in the number of ETH and ETH-equivalent tokens held; however, impairment charges reduce the carrying value of LsETH, weETH, and wstETH under U.S. GAAP and are not reversed for subsequent market recoveries.
Cash ● and cash equivalents totaled $47.9 million as of September 30, 2026, compared with $28.5 million as of December 31, 2025.
Joseph Lubin, Chairman of Sharplink and Co-Founder of Ethereum, added, “Ethereum is rapidly evolving into foundational infrastructure for the next generation of global finance, supported by accelerating institutional adoption and continued advancements in its underlying technology. From JPMorgan’s expansion of its institutional deposit token to Ethereum mainnet to the growing tokenization of financial assets by leading global asset managers, these developments underscore Ethereum’s expanding role across payments, asset management and financial-market infrastructure. Combined with its ongoing technological advancements, deep liquidity and commitment to security, we believe Ethereum is uniquely positioned to support the next generation of global financial activity. As institutional adoption accelerates and more economic activity moves onchain, Sharplink is well-positioned to participate in Ethereum’s continued growth through its actively managed ETH treasury and commitment to supporting the broader ecosystem.”
Sharplink’s ● ETH holdings totaled approximately 892,708 ETH1 as of September 30, 2026, and 895,117 ETH2 as of November 2, 2026. Crypto ● assets totaled approximately $2.1 billion as of September 30, 2026, valued in accordance with U.S. GAAP.
1Total ETH holdings held as of September 30, 2026, comprised of 602,361 native ETH, 135,516 ETH as-if redeemed from LsETH, 73,334 ETH as-if redeemed from weETH, and 81,497 ETH as-if-redeemed from wstETH, using a conversion date of September 30, 2026.
2Total ETH holdings held as of November 2, 2026, comprised of 603,953 native ETH, 135,868 ETH as-if redeemed from LsETH, 73,601 ETH as-if redeemed from weETH, and 81,695 ETH as-if-redeemed from wstETH, using a conversion date of November 2, 2026.
Completed the staking of $200 million of ETH through Lido on September 28, 2026, receiving wrapped ● staked ETH (wstETH) and expanding Sharplink’s liquid staking capabilities. The allocation is designed to generate protocol staking rewards while providing access to additional onchain opportunities. The Galaxy Sharplink Onchain Yield Fund (the “Fund”), launched in August 2026 with ● $125 million in initial commitments consisting of $100 million from Sharplink and $25 million from Galaxy Digital. The Fund began deploying capital into select onchain opportunities in Q3. Made ● a strategic equity investment in Blockspace, an Ethereum infrastructure company focused on validation and staking infrastructure.
Sharplink’s executive team will host a conference call, followed by a question- and-answer period this morning, Monday, November 9, 2026, beginning at 8:30 AM ET. Please use one of the following methods to access the call:
Participants can also access Sharplink’s earnings call using the call me option herefor instant telephone access to the event, which will be active 15 minutes before the scheduled start time.
A telephonic replay will be available approximately three hours after the conference call concludes through Monday, November 23, 2026.
A link to the live webcast and replay will also be available at https://www.sharplink.com/investors.
For more detailed information, please refer to the Quarterly Report on Form 10-Q for the three and nine months ended September 30, 2026, filed with the U.S. Securities and Exchange Commission, and accessible at www.sec.govor on Sharplink’s website found at www.sharplink.com.
Sharplink (Nasdaq: SBET) is a leading institutional-grade Ethereum treasury platform designed to give public market investors smarter, more productive exposure to ETH. Ethereum underpins the majority of global stablecoin, tokenized real-world assets and decentralized finance settlement. Sharplink was founded in 2019 and is headquartered in Miami, Florida. Learn more at www.sharplink.com.
Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, and these forward-looking statements are subject to various risks and uncertainties. Such statements include, but are not limited to, goals and expectations regarding the Company’s strategy and potential partnerships; the Company’s Ethereum treasury strategy and expected common stock per-share effects; the Company’s staking activities and investment in the Fund, and other statements accompanied by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words, but the absence of these words does not mean that a statement is not forward looking. Actual results could differ materially from those described in these forward-looking statements due to certain factors, including without limitation, the potential use of the Company’s ATM facility; the Company’s ability to repurchase additional shares of its common stock under its stock repurchase program; the Company’s ability to achieve and sustain profitable operations; volatility in the market price of ETH and its resulting impact on the Company’s accounting and financial reporting; changes in government regulation of cryptocurrencies and online betting; changes in securities laws or other applicable regulations; fluctuations in customer demand and overall economic conditions; competitive pressures, including competing products, pricing, and sales cycles; the protection and enforcement of the Company’s proprietary rights; and other risks and uncertainties described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025 and other filings with the SEC. Under U.S. GAAP entities are generally required to measure certain crypto assets at fair value, with changes reflected in net income each reporting period. Changes in the fair value of crypto assets could result in significant fluctuations to the balance sheet and income statement results. Additionally, for certain other types of crypto assets, the Company uses the historical costs less impairment model. This model may require the Company to record an associated impairment charge reflected in net income as a result of a decrease in the market price of the crypto assets below the cost value at which the Company’s crypto assets are carried on its balance sheet. Any forward-looking statements contained in this press release speak only as of the date hereof, and the Company undertakes no obligation to update the forward-looking statements in this press release.
CONTACT: Sharplink’s Investor Relations Contact: Sean Mansouri, CFA or Aaron D’Souza | Elevate IR Phone: (720) 330-2829 Email: ir@sharplink.com
September December 30, 2026 31, 2025 ────────────────────────────────────────────────────────────────────────────── -unaudited Assets Current Assets Cash $ 47,902 $ 28,539 USDC stablecoin - 1,882 Accounts receivable, net of allowance for 649 221 credit losses of $0 for both periods presented Prepaid expenses and other 565 511 current assets Total current assets 49,116 31,153 Crypto assets at fair 1,615,154 1,899,683 value Crypto assets at cost 481,958 500,912 Investments at fair 24,840 - value Other assets 717 18 Total $ 2,171,785 $ 2,431,766 assets Liabilities and Stockholders’ Equity Current Liabilities Accounts payable and accrued $ 6,078 $ 12,749 expenses Total current 6,078 12,749 liabilities Long-Term Liabilities Other 25 - long-term liabilities Total 6,103 12,749 liabilities Commitments and Contingencies (Note 11) Stockholders’ Equity Common Stock, $0.0001 par value; authorized shares 2,500,000,000; issued 221,338,297 and 198,646,255, 22 20 respectively; outstanding shares: 217,267,066 and 196,707,797, respectively Treasury stock, 4,071,231 and 1,938,458 shares (41,743 ) (31,721 ) of Common Stock at cost Additional paid-in 3,348,191 3,263,114 capital Accumulated (1,140,788 ) (812,396 ) deficit Total 2,165,682 2,419,017 stockholders’ equity Total liabilities and $ 2,171,785 $ 2,431,766 stockholders’ equity
Full text with the tables
Exhibit 99.1
Sharplink Reports Third Quarter 2026 Financial and Operating Results
Strong Financial Performance Reflects Continued Execution of Active
Treasury Management and Disciplined Capital Allocation
Revenue up 24% YoY to $13.5 Million; Net Income of $751.4 Million or $3.45 Per
Diluted Share
MIAMI, FL — November 9, 2026— Sharplink, Inc. (Nasdaq: SBET) (“Sharplink” or the
“Company”), one of the world’s largest corporate holders of Ether (“ETH”) and
prominent industry advocate of Ethereum adoption, today reported financial and
operating results for the three and nine months ended September 30, 2026, along
with an update on its ETH treasury strategy.
“Our strong third quarter performance reflects our progress in executing our
Ethereum treasury strategy and further strengthening our institutional-grade
treasury platform,” said Joseph Chalom, Chief Executive Officer of Sharplink.
“We are focused on maximizing the productivity of our ETH holdings, maintaining
a disciplined approach to capital allocation and supporting the broader Ethereum
ecosystem. Our relentless focus translates into tangible financial results,
highlighted by double-digit revenue growth, improved operating leverage and a
material increase in net income. We believe these results reinforce the strength
of our strategy and the opportunities ahead as Ethereum continues to gain
traction across global financial markets.”
Continuing, Chalom noted, “During the quarter, we made meaningful progress
putting our ETH treasury to work, completing our $200 million Lido staking
allocation and beginning capital deployment through the Galaxy Sharplink Onchain
Yield Fund. These milestones reflect our belief that ETH should be managed as a
productive operating asset rather than simply held for potential appreciation.
Our permanent capital base enables us to pursue longer-duration treasury
deployments and differentiated yield opportunities, while maintaining a
disciplined approach to risk management. As Ethereum’s institutional adoption
continues to accelerate, we believe Sharplink is well-positioned to leverage our
scale, institutional expertise and ecosystem relationships to generate
incremental ETH, grow ETH-per-share and create sustainable long-term value for
shareholders.”
1
Third Quarter 2026 Highlights
Income Statement and Balance Sheet
Total
revenue increased 24% to $13.5 million for the three months ended
September 30, 2026, compared
● with $10.8 million in the prior-year quarter. Staking revenue grew 27% to
$13.1 million from
$10.3 million, reflecting Sharplink’s ongoing ETH treasury management
activities.
SG&A
expenses decreased 8% to $11.0 million, compared with $12.0 million in
● the prior-year quarter,
as the Company continued to carefully manage the operating costs of its
treasury platform.
Net
income increased to $751.4 million, or $3.45 per diluted share, compared
● with net income
of $104.3 million, or $0.62 per diluted share, in the prior year quarter.
The increase was
driven principally by unrealized and realized gains on crypto assets.
Unrealized
○ gains: $676.7 million primarily reflecting ETH market conditions in the
third quarter of
2026.
Net
○ realized gain: $75.2 million primarily related to ETH treasury
activities, including liquid
staking transactions.
Unrealized
gains reflect changes in the fair value of the Company’s ETH holdings and
do not represent
○ cash proceeds or a change in the number of ETH and ETH-equivalent tokens
held; however, impairment
charges reduce the carrying value of LsETH, weETH, and wstETH under U.S.
GAAP and are not
reversed for subsequent market recoveries.
Cash
● and cash equivalents totaled $47.9 million as of September 30, 2026,
compared with $28.5
million as of December 31, 2025.
Joseph Lubin, Chairman of Sharplink and Co-Founder of Ethereum, added, “Ethereum
is rapidly evolving into foundational infrastructure for the next generation of
global finance, supported by accelerating institutional adoption and continued
advancements in its underlying technology. From JPMorgan’s expansion of its
institutional deposit token to Ethereum mainnet to the growing tokenization of
financial assets by leading global asset managers, these developments underscore
Ethereum’s expanding role across payments, asset management and financial-market
infrastructure. Combined with its ongoing technological advancements, deep
liquidity and commitment to security, we believe Ethereum is uniquely positioned
to support the next generation of global financial activity. As institutional
adoption accelerates and more economic activity moves onchain, Sharplink is
well-positioned to participate in Ethereum’s continued growth through its
actively managed ETH treasury and commitment to supporting the broader
ecosystem.”
Ethereum Treasury and Operational Highlights
Sharplink’s
● ETH holdings totaled approximately 892,708 ETH1 as of September 30, 2026,
and
895,117 ETH2 as of November 2, 2026.
Crypto
● assets totaled approximately $2.1 billion as of September 30, 2026,
valued in accordance
with U.S. GAAP.
1Total ETH holdings held as of September 30, 2026, comprised of 602,361 native
ETH, 135,516 ETH as-if redeemed from LsETH, 73,334 ETH as-if redeemed from
weETH, and 81,497 ETH as-if-redeemed from wstETH, using a conversion date of
September 30, 2026.
2Total ETH holdings held as of November 2, 2026, comprised of 603,953 native
ETH, 135,868 ETH as-if redeemed from LsETH, 73,601 ETH as-if redeemed from
weETH, and 81,695 ETH as-if-redeemed from wstETH, using a conversion date of
November 2, 2026.
2
Completed
the staking of $200 million of ETH through Lido on September 28, 2026,
receiving wrapped
● staked ETH (wstETH) and expanding Sharplink’s liquid staking
capabilities. The allocation
is designed to generate protocol staking rewards while providing access
to additional onchain
opportunities.
The
Galaxy Sharplink Onchain Yield Fund (the “Fund”), launched in August 2026
with
● $125 million in initial commitments consisting of $100 million from
Sharplink and $25 million
from Galaxy Digital. The Fund began deploying capital into select onchain
opportunities in
Q3.
Made
● a strategic equity investment in Blockspace, an Ethereum infrastructure
company focused on
validation and staking infrastructure.
Conference Call Details
Sharplink’s executive team will host a conference call, followed by a question-
and-answer period this morning, Monday, November 9, 2026, beginning at 8:30 AM
ET. Please use one of the following methods to access the call:
Date:
● Monday, November 9, 2026
──────────────────────────────────────
● Time:
8:30 AM ET
● Toll-free
dial-in number: (877) 407-2988
● International
dial-in number: (201) 389-0923
● Webcast:
Sharplink’s Q3 2026 Earnings Call
Participants can also access Sharplink’s earnings call using the call me option
herefor instant telephone access to the event, which will be active 15 minutes
before the scheduled start time.
A telephonic replay will be available approximately three hours after the
conference call concludes through Monday, November 23, 2026.
● Toll-free
replay number: (877) 660-6853
● International
replay number: (201) 612-7415
● Replay
ID: 13762953
A link to the live webcast and replay will also be available at
https://www.sharplink.com/investors.
For more detailed information, please refer to the Quarterly Report on Form 10-Q
for the three and nine months ended September 30, 2026, filed with the U.S.
Securities and Exchange Commission, and accessible at www.sec.govor on
Sharplink’s website found at www.sharplink.com.
3
About Sharplink, Inc.
Sharplink (Nasdaq: SBET) is a leading institutional-grade Ethereum treasury
platform designed to give public market investors smarter, more productive
exposure to ETH. Ethereum underpins the majority of global stablecoin, tokenized
real-world assets and decentralized finance settlement. Sharplink was founded in
2019 and is headquartered in Miami, Florida. Learn more at www.sharplink.com.
Forward-Looking Statements
Statements in this press release about future expectations, plans and prospects,
as well as any other statements regarding matters that are not historical facts,
may constitute “forward-looking statements” within the meaning of the Private
Securities Litigation Reform Act of 1995, and these forward-looking statements
are subject to various risks and uncertainties. Such statements include, but are
not limited to, goals and expectations regarding the Company’s strategy and
potential partnerships; the Company’s Ethereum treasury strategy and expected
common stock per-share effects; the Company’s staking activities and investment
in the Fund, and other statements accompanied by the words “intends,” “may,”
“will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,”
“aims,” “believes,” “hopes,” “potential” or similar words, but the absence of
these words does not mean that a statement is not forward looking. Actual
results could differ materially from those described in these forward-looking
statements due to certain factors, including without limitation, the potential
use of the Company’s ATM facility; the Company’s ability to repurchase
additional shares of its common stock under its stock repurchase program; the
Company’s ability to achieve and sustain profitable operations; volatility in
the market price of ETH and its resulting impact on the Company’s accounting and
financial reporting; changes in government regulation of cryptocurrencies and
online betting; changes in securities laws or other applicable regulations;
fluctuations in customer demand and overall economic conditions; competitive
pressures, including competing products, pricing, and sales cycles; the
protection and enforcement of the Company’s proprietary rights; and other risks
and uncertainties described in the Company’s Annual Report on Form 10-K for the
year ended December 31, 2025 and other filings with the SEC. Under U.S. GAAP
entities are generally required to measure certain crypto assets at fair value,
with changes reflected in net income each reporting period. Changes in the fair
value of crypto assets could result in significant fluctuations to the balance
sheet and income statement results. Additionally, for certain other types of
crypto assets, the Company uses the historical costs less impairment model. This
model may require the Company to record an associated impairment charge
reflected in net income as a result of a decrease in the market price of the
crypto assets below the cost value at which the Company’s crypto assets are
carried on its balance sheet. Any forward-looking statements contained in this
press release speak only as of the date hereof, and the Company undertakes no
obligation to update the forward-looking statements in this press release.
CONTACT:
Sharplink’s Investor Relations Contact:
Sean Mansouri, CFA or Aaron D’Souza | Elevate IR
Phone: (720) 330-2829
Email: ir@sharplink.com
Sharplink’s Media Contact:
Email: media@sharplink.com
4
SHARPLINK, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands, except share and per share data)
September December
30, 2026 31, 2025
──────────────────────────────────────────────────────────────────────────────
-unaudited
Assets
Current Assets
Cash $ 47,902 $ 28,539
USDC stablecoin - 1,882
Accounts receivable,
net
of allowance for 649 221
credit losses of $0
for both periods
presented
Prepaid
expenses and other 565 511
current assets
Total current assets 49,116 31,153
Crypto assets at fair 1,615,154 1,899,683
value
Crypto assets at cost 481,958 500,912
Investments at fair 24,840 -
value
Other assets 717 18
Total $ 2,171,785 $ 2,431,766
assets
Liabilities and
Stockholders’
Equity
Current Liabilities
Accounts
payable and accrued $ 6,078 $ 12,749
expenses
Total current 6,078 12,749
liabilities
Long-Term Liabilities
Other 25 -
long-term liabilities
Total 6,103 12,749
liabilities
Commitments and
Contingencies (Note
11)
Stockholders’ Equity
Common Stock, $0.0001
par
value; authorized
shares 2,500,000,000;
issued 221,338,297
and 198,646,255, 22 20
respectively;
outstanding shares:
217,267,066 and
196,707,797,
respectively
Treasury stock,
4,071,231
and 1,938,458 shares (41,743 ) (31,721 )
of Common Stock at
cost
Additional paid-in 3,348,191 3,263,114
capital
Accumulated (1,140,788 ) (812,396 )
deficit
Total 2,165,682 2,419,017
stockholders’ equity
Total
liabilities and $ 2,171,785 $ 2,431,766
stockholders’ equity
5
SHARPLINK, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(UNAUDITED)
(In thousands, except share and per share data)
For For
the the
Three Nine
Mont… Mont…
Ended Ended
Sept… Sept…
2026 30, 2025 2026 30, 2025
──────────────────────────────────────────────────────────────────────────────
Rev…
from $ 13,0… $ 10,2… $ 35,7… $ 10,3…
sta…
Rev…
from 400 570 1,324 1,980
aff…
mar…
Tot… 13,4… 10,8… 37,0… 12,2…
rev…
Gai…
(lo…
from
ope…
Rea…
gain
on 75,2… 6,308 88,6… 11,6…
cry…
ass…
net
Unr…
gain
(lo…
on
cry… 676,… 107,… (150… ) 104,…
ass…
at
fair
val…
net
Tot…
gai…
(lo… 751,… 113,… (62,… ) 116,…
from
ope…
net
Ope…
exp…
Cost
of
rev… 280 431 970 1,529
from
aff…
mar…
Sel…
gen…
and 11,0… 12,0… 29,9… 15,5…
adm…
exp…
Sto…
com… - 131 - 16,5…
rel…
par…
Imp…
of
cry… 1,040 6,950 268,… 94,7…
ass…
at
cost
Tot…
ope… 12,3… 19,5… 299,… 128,…
exp…
Ope…
inc… 753,… 104,… (325… ) 527
(lo…
Oth…
inc…
Int… 516 119 897 168
inc…
Oth…
inc… (2 ) - (2 ) -
(ex…
Tot…
oth… 514 119 895 168
inc…
Net
inc…
(lo… 753,… 105,… (324… ) 695
bef…
inc…
tax…
Inc…
tax (2,1… ) (792 ) (4,2… ) (822 )
exp…
Net
inc… $ 751,… $ 104,… $ (328… ) $ (127 )
(lo…
Den…
for
net
inc…
(lo…
per
sha…
Bas…
wei… 217,… 149,… 212,… 63,2…
ave…
sha…
Dil…
wei… 217,… 167,… 212,… 63,2…
ave…
sha…
Net
inc…
(lo…
per $ 3.46 $ 0.70 $ (1.55 ) $ (0.00 )
sha…
-
bas…
Net
inc…
(lo…
per $ 3.45 $ 0.62 $ (1.55 ) $ (0.00 )
sha…
-
dil…
6