Sharplink's third-quarter revenue rose as higher staking revenue more than offset a decline in affiliate marketing. Earnings increased sharply, driven primarily by higher unrealized gains on crypto assets as ETH prices recovered, alongside realized crypto gains and lower operating expenses.

Financial Highlights

¹ Reported as “Total revenue”. ² Reported as “Net income (loss)”. ³ Reported as “Net income (loss) per share - diluted”.

Business Highlights

  • Staking revenue: Increased 27.1% to $13.1M, representing 97.0% of total revenue.
  • Affiliate marketing: Revenue fell 29.8% to $400K amid softer global iGaming conditions, summer seasonality and customer losses tied mainly to regulatory changes in some foreign markets.
  • Crypto gains: Realized and unrealized crypto gains totaled $751.9M, driven by ETH price recovery, LsETH redemptions and the conversion of ETH to wstETH.
  • Fund launch: Sharplink contributed 8,054 wstETH to the Galaxy Sharplink Onchain Yield Fund, which launched with $125.0M in committed capital.

Original SEC Filing: Sharplink, Inc. [ SBET ] - 10-Q - Nov. 06, 2026

More news from TradingView