SharpLink Gaming 2025 Q3 Earnings Record Net Income Surges 11880.2%

SharpLink Gaming (SBET) delivered a stunning turnaround in Q3 2025, with revenue soaring 1129.9% to $10.84 million and net income leaping to $104.27 million. The results vastly exceeded Wall Street expectations, as the company capitalized on Ethereum staking and strategic treasury management.

Revenue

SharpLink Gaming’s Q3 2025 revenue surged to $10.84 million, a 1129.9% increase from $881,690 in Q3 2024. This remarkable growth was driven by staking activities, which contributed $10.27 million, with additional contributions from affiliate marketing ($569,758) and operational gains. The staking segment alone accounted for 94.7% of total revenue, underscoring the company’s pivot toward blockchain-based income streams.

Earnings/Net Income

SharpLink Gaming returned to profitability with an EPS of $0.70 in Q3 2025, reversing a $3.02 loss per share in Q3 2024. Net income reached $104.27 million, a 11880.2% increase from a net loss of $885,131 the prior year. This dramatic turnaround reflects the success of its Ethereum staking strategy and treasury optimization. The EPS and net income figures highlight a robust recovery from prior losses.

Price Action

Post-earnings, SharpLink Gaming’s stock price experienced a sharp decline, dropping 2.94% in the latest trading day and 4.62% during the most recent week. Month-to-date, the stock has plummeted 28.27%, indicating investor caution despite the company’s strong financial performance. The divergence between earnings results and price action suggests market skepticism about sustainability or broader crypto market volatility.

CEO Commentary

Joseph Lubin emphasized Ethereum’s institutional adoption and SharpLink’s strategic position in the DeFi ecosystem. He highlighted partnerships with JP Morgan, SWIFT, and Alibaba, as well as the Fusaka upgrade’s scalability improvements. Lubin reiterated confidence in Ethereum’s dominance in tokenized assets and outlined plans to maximize ETH per share accretion through ConsenSys collaborations.

Guidance

While no explicit financial targets were provided, SharpLink outlined a capital management framework prioritizing ETH per share concentration. The company plans to issue equity at premiums to purchase ETH above NAV or execute buybacks below NAV. Co-CEO Joseph Chalom noted exploration of convertible bonds to monetize volatility, reaffirming a commitment to active treasury management.

Additional News

SharpLink Gaming announced a $1.5 billion stock repurchase program, marking a significant commitment to shareholder value. Concurrently, the company plans to deploy $200 million in ETH on ConsenSys’ Linea platform to enhance DeFi yields. Leadership changes included the appointment of Matthew Sheffield as Chief Investment Officer and Mandy Campbell as Chief Marketing Officer, signaling a strategic shift toward institutional-grade asset management.

The company’s Ethereum holdings grew to 842,084 ETH as of November 9, 2025, with $3 billion in total crypto assets. Institutional investors like BlackRock and Vanguard added 2.96 million and 2.73 million shares, respectively, in Q3 2025, reflecting growing confidence in the stock. Analysts from Bernstein and B. Riley reiterated “Outperform” and “Buy” ratings, with price targets ranging from $24 to $50.

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