SharpLink Gaming, Inc. (NASDAQ: SBET) has announced its financial results for the third quarter ended September 30, 2025, revealing significant growth and advancements in its execution of the ETH treasury strategy. Here are the key highlights from the press release:
- Total revenue surged to approximately $10.8 million in Q3 2025, representing an increase of more than 1,100% from the $0.9 million reported for the same period in 2024.
- Net income saw a substantial rise to approximately $104.3 million, or $0.62 per fully diluted share, for the three months ended September 30, 2025, compared to a net loss of approximately $885,000, or $(3.02) per fully diluted share, in the prior year's third quarter period.
- The company's ETH holdings totaled approximately 817,747 ETH as of September 30, 2025, increasing to 842,084 ETH as of November 9, 2025.
- Crypto assets totaled approximately $3.0 billion, with $11.1 million in cash on hand and $26.7 million in USDC stablecoins as of September 30, 2025.
- In August, SharpLink's board of directors authorized a $1.5 billion stock repurchase program, with the company having repurchased 1,938,450 shares of its common stock for $31.6 million as of September 30, 2025.
- In September, the company partnered with SuperState to launch tokenized SBET on Ethereum.
- In mid-October, SharpLink announced the pricing of a $76.5 million registered direct offering at a 12% premium to its closing share price on October 15, 2025.
- In October, the company expanded its executive leadership team with the appointments of a chief investment officer, chief marketing officer, and chief development officer.
- Also in October, SharpLink announced a collaboration to deploy $200 million of its ETH treasury holdings on ConsenSys' Linea, a zkevm layer 2 network, via ether.fi and Eigencloud to unlock enhanced Ethereum DeFi yields.
SharpLink's management highlighted that the third quarter of 2025 marked its first full quarter executing on the ETH treasury strategy, and the results clearly validate their execution. The company has nearly deployed all of its ETH holdings into productive, yield-generating staking while maintaining disciplined risk management. Moreover, it recently announced its intention to allocate $200 million in ETH for deployment on ConsenSys' Linea platform via ether.fi and Eigencloud to responsibly generate enhanced Ethereum DeFi yields. The company also doubled its ETH per share concentration from 2.0 to 4.0 since the inception of the treasury and continues to focus on long-term value accretion for its stockholders.
SharpLink's executives emphasized that the company is pioneering a new model for publicly traded ETH treasury companies, which combines the agility of an active asset manager with the transparency of a public company. They believe that their ability to dynamically manage capital, pursue sophisticated compounding yield strategies, and partner with prominent names in the Ethereum ecosystem positions SharpLink at the forefront as the Ethereum institutional supercycle accelerates. Today the company's shares have moved -1.69% to a price of $11.365. If you want to know more, read the company's complete 8-K report here.
