SBET - NASDAQ

Sharplink, Inc.

SBET·NASDAQ

$5.54

-4.6%

Financial ServicesFinancial - Capital Markets

SharpLink Gaming Ltd. operates as an online technology company that connects sports fans, leagues, and sports websites to sports betting and iGaming content. It operates through Affiliate Marketing Services United States, Sports Gaming Client Services, Enterprise Telecom Expense Management, and Affiliate Marketing Services International segments. The company collects information on potential U.S. domiciled sports bettors, connects them with contextual sports betting content, and converts them to paying sports betting customers, as well as offers sports betting data to sports media publishers. It also provides development, hosting, operations, maintenance, and service of free-to-play games and contests; and solutions for telecommunications expense management, enterprise mobility management, call usage, and accounting software, as well as iGaming and affiliate marketing network, which focuses on delivering quality traffic and player acquisitions, and retention and conversions to global iGaming operator partner worldwide. The company was founded in 2019 and is headquartered in Minneapolis, Minnesota.

Statements Value Model

At a Glance

Live Snapshot

Market Cap$1.09B

EPS-7.3700

P/E Ratio-0.75

Earnings Date08/13/2026

-17.48M

Operating Cash Flow

-23%

3Y+194.0%

5Y+2173.0%

10Y+3759.0%

-2.95B

Investing Cash Flow

15689%

3Y-6216.0%

5Y+990228.0%

10Y+154648.0%

3.00B

Financing Cash Flow

-17359%

3Y+111987.0%

5Y+161874.0%

10Y+428288.0%

Sharplink, Inc. Cash Conversion Engine

SBET · NASDAQ

FCF Components

Net Income-734.59M

Depreciation & Amortization9.00K

Stock-Based Compensation13.66M

Change in Working Capital7.38M

Others696.06M

Capital Expenditures-11.00K

Free Cash Flow-17.48M

Cash Flow Quality Analysis

FCF Conversion Rate

2.4%

Weak cash conversion. Significant portion of earnings not converting to cash—review working capital trends and capital intensity.

CapEx Intensity

-0.1%

Asset-light business model. Low capital requirements leave more cash available for shareholders and growth investments.

FCF Growth Trend

+23.4%

Strong FCF growth demonstrates improving cash generation and business momentum. Positive signal for sustainability.

Working Capital Impact

+$7.38M

Working capital inflow boosted cash flow. Efficient management of receivables, inventory, and payables contributing positively.

Sharplink, Inc. Cash Flow Statement

SBET • NASDAQ

Sharplink, Inc. Cash Flow Statement	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017	Dec 2016	Dec 2015	Dec 2014	Dec 2013	Dec 2012	Dec 2011	Dec 2010	Dec 2009	Dec 2008	Dec 2007	Dec 2006
OPERATING ACTIVITIES
Net Income	-734.6M	-4.5M	-11.2M	-14.1M	-55.6M	-1.1M	-306.2K	-886K	-402K	-5.2M	-4.9M	-1.6M	1.4M	1.4M	387K	176K	-877K	-960K	-5.8M	-2.2M
Depreciation & Amortization	9K	12.1K	107.4K	912.2K	270.1K	133K	97.9K	82K	98K	1.1M	868K	284K	316K	393K	447K	489K	540K	368K	651K	675K
Change in Deferred Taxes	0.0	-7.2K	-6.2K	81.3K	1.2K	970.0	-79.9K	35K	-20K	-514K	41K	25K	400K	-340K	2K	2K	5K	104K	-18K	3K
Stock-Based Compensation	13.7M	148.5K	261.4K	0.0	1.7M	67.1K	47K	90K	1K	223K	190K	107K	44K	67K	99K	159K	104K	0.0	0.0	0.0
Other Non-Cash Items	696.1M	-17.1M	10.1M	7.4M	47M	-46.5K	-47K	522K	227K	7.5M	6.1M	-90K	-74K	6K	-76K	-21K	-57K	-420K	2.8M	86K
Cash Taxes Paid	(0.0)	(504.8K)	(86.3K)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)
Change in Working Capital	7.4M	-1.4M	1.4M	-224.3K	619.8K	215.4K	363K	-597K	477K	-897K	-2.1M	-160K	-8K	-662K	291K	-816K	788K	835K	1.8M	-127K
Cash from Operating Activities	-17.5M	-22.8M	582.9K	-5.9M	-6.1M	-769.1K	74.8K	-1.2M	149K	-453K	401K	-1.5M	2.1M	807K	1.1M	-71K	558K	31K	-615K	-1.6M
INVESTING ACTIVITIES
Investments in Property, Plant, and Equipment	-11K	-1.7K	-286.1K	-35.8K	-260.2K	-298.3K	-193K	-14K	-50K	-129K	-108K	-41K	-62K	-188K	-87K	-87K	-130K	-454K	-95K	-107K
Acquisitions, Net	(0.0)	(0.0)	(0.0)	(4.5K)	-6.1M	(0.0)	(0.0)	(0.0)	-5K	-1.4M	-2.3M	-1K	(4K)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(1M)	(0.0)
Purchase of Investments	-3.1B	(0.0)	(0.0)	(0.0)	-200K	(0.0)	(0.0)	(0.0)	-56K	-86K	-104K	-153K	-80K	-74K	-49K	-170K	-211K	-200K	-212K	-321K
Sale/Maturity of Investments	105.6M	0.0	0.0	0.0	200K	0.0	0.0	0.0	197K	85K	98K	157K	84K	71K	40K	267K	196K	180K	1.3M	208K
Other Investing Items	0.0	-18.7M	-746K	48.3M	1.9M	0.0	-173.7K	-1K	-3K	-380K	-411K	1K	-4K	2K	123K	12K	-199K	639K	-1.1M	-986K
Cash from Investing Activities	-3B	-18.7M	-1M	(48.3M)	-4.4M	-298.3K	-193K	-15K	(88K)	-1.9M	-2.8M	-37K	-58K	-189K	(27K)	(22K)	-344K	(165K)	(976K)	-1.2M
FINANCING ACTIVITIES
Net Issuance of Common Stock	3B	869.3K	0.0	0.0	9.8M	130.5K	2.6M	1.5M	400K	700K	551K	14K	90K	303K	0.0	0.0	-5K	0.0	0.0	0.0
Net Issuance of Debt	0.0	-12.6M	9.3M	2.7M	0.0	46.5K	71K	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	-45K	0.0	0.0	0.0
Cash Paid for Dividends	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	-653.6K	-589.3K	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)
Share Repurchases	-31.7M	(0.0)	(0.0)	(0.0)	(0.0)	-750K	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)
Other Financing Items	0.0	-5.7M	474.1K	0.0	-165.9K	408.7K	-124.6K	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	376K	-398K	1.1M
Cash from Financing Activities	3B	-17.4M	9.8M	2.7M	15.7M	1.9M	1.9M	1.5M	400K	700K	551K	14K	90K	303K	0.0	0.0	-50K	376K	-398K	1.1M
CASH FLOW SUMMARY
Effect of Foreign Exchange Rates	0.0	0.0	0.0	-49.7M	0.0	0.0	-2.5M	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Net Change in Cash	27M	-58.9M	9.3M	-4.7M	5.2M	784K	-728.8K	307K	211K	-1.7M	-1.2M	-1.5M	2.2M	921K	1.1M	-49K	164K	572K	-37K	-1.7M
Cash at Beginning of Period	1.5M	60.4M	51.1M	6.1M	2.6M	1.8M	2.5M	2.2M	2M	3.7M	4.9M	6.4M	4.2M	3.3M	2.1M	2.2M	2M	1.4M	1.5M	3.2M
Cash at End of Period	28.6M	1.5M	60.4M	1.4M	7.8M	2.6M	1.8M	2.5M	2.2M	2M	3.7M	4.9M	6.4M	4.2M	3.3M	2.1M	2.2M	2M	1.4M	1.5M
Free Cash Flow	-17.5M	-22.8M	296.7K	-6M	-6.3M	-1.1M	-118.2K	-1.2M	99K	-582K	293K	-1.5M	2.1M	619K	1M	-158K	428K	-423K	-710K	-1.7M

SEC Filings

SBET - Filing history and reports

Filing Type	Filing Date	Period Ending	Fiscal Year	Actions
8-K 8-K 2026 N/A	May 11, 2026	May 11, 2026	2026	View Filing
10-Q 10-Q 2026 Q1 Q1	May 08, 2026	March 31, 2026	2026	View Filing
8-K 8-K 2026 N/A	April 14, 2026	April 10, 2026	2026	View Filing
8-K 8-K 2026 N/A	April 03, 2026	April 03, 2026	2026	View Filing
DEF 14A DEF 14A 2026 N/A	March 17, 2026	March 17, 2026	2026	View Filing
8-K 8-K 2026 N/A	March 09, 2026	March 09, 2026	2026	View Filing
10-K 10-K 2025 FY FY	March 09, 2026	December 31, 2025	2025	View Filing
8-K 8-K 2026 N/A	February 19, 2026	February 19, 2026	2026	View Filing
8-K 8-K 2026 N/A	February 03, 2026	February 02, 2026	2026	View Filing
8-K 8-K 2025 N/A	December 17, 2025	December 15, 2025	2025	View Filing

Showing 1 to 10 of 79 filings

Related Guides

Blog Categories

Continue your SBET research with focused valuation guides.

Fundamentals

Decode statement quality and operating durability.

Accounting

Interpret line items with cleaner analytical framing.

Forecasting

Translate historical performance into forward scenarios.

Reference

Use practical frameworks for statement-led valuation.

Research Paths

Pick your next lens

Snapshot

Start with context, operating signals, and key market metrics.

Value Model

Stress test fair value across bear, base, and bull assumptions.

Statements

Validate revenue quality, margins, and balance sheet durability.

Earnings Call

Read management commentary and compare it with reported outcomes.

Dividends

Check payout sustainability and long-term distribution behavior.

Analyst Expectations

Review consensus spread and where estimate risk is concentrated.