SharpLink Gaming AI Stock Analysis
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SharpLink Gaming (SBET) AI Stock Analysis
SharpLink Gaming
(NASDAQ:SBET)
The score is held back primarily by weak underlying profitability and persistent cash burn, alongside bearish technical signals (price below key moving averages, negative MACD). These are partially offset by a currently low-leverage balance sheet and a constructive, liquidity-focused earnings call with an ambitious ETH treasury and yield strategy, though execution and market-sensitivity risks remain significant.
SharpLink Gaming (SBET) vs. SPDR S&P 500 ETF (SPY)
- Market Cap
- $1.19B
- Dividend Yield
- ―
- Average Volume (3M)
- 9.31M
- Price to Earnings (P/E)
- -1.1
- Beta (1Y)
- 4.65
- Revenue Growth
- 302.98%
- EPS Growth
- 32.37%
- Country
- US
- Employees
- 15
- Sector
- Financial
- Sector Strength
- 68
- Industry
- Financial - Capital Markets
SharpLink Gaming Business Overview & Revenue Model
Company Description
Sharplink, Inc. is a global digital asset treasury firm, primarily functioning as an institutional-grade platform for managing Ethereum. Its operations are divided into two primary divisions: Ether (ETH) Treasury Management and Affiliate Marketing. T...
How the Company Makes Money
SharpLink Gaming primarily makes money by generating and monetizing customer acquisition leads for licensed sportsbook and iGaming operators. Its core revenue model is typical of gaming affiliate/performance marketing: (1) referral/affiliate commissi...
SharpLink Gaming Earnings Call Summary
The call was strongly optimistic, supported by a 72% Q3 increase in ETH, higher revenue and net income, significant ETH holdings, growing staking and on-chain deployment activity, institutional adoption and regulatory progress. Management also highlighted disciplined capital allocation and strong liquidity. The principal cautions were unfinished U.S. legislation, dynamic staking economics, unquantified returns from newer strategies, non-cash market-sensitive accounting gains and the Consensys share sale. Highlights significantly outweighed the lowlights.
Q3-2026 Updates
Positive Updates
Negative Updates
Company Guidance
Management said it is focused on growing ETH per share, deploying treasury assets to generate additional ETH and evaluating selective operating businesses, ecosystem protocols and infrastructure acquisitions; it is not currently quantifying the premium above staking, but said it has outperformed the CESR rate, which was a 2.63% rate during Q3, in each month in Q3 and for the quarter overall. Native staking has been around 3%, around 2.5% and averaging a little bit closer to 2.65% over the last quarter, while the Galaxy Sharplink Yield Fund is designed to generate steady returns above traditional ETH staking, described as “singles and doubles,” not “triples or home runs.” Management expects greater visibility into incremental returns as deployments scale, cited approximately $4 trillion in annual financial services revenue that could be reshaped by 2035, and noted the GENIUS Act takes effect on January 18, 2027, while Ethereum’s road map targets quantum resistance by December 2029.
SharpLink Gaming Financial Statement Overview
Summary
Financials are mixed: revenue is growing rapidly and gross margin is very high, while the balance sheet shows no reported debt and a large equity cushion. However, profitability is weak and volatile (TTM net margin deeply negative) and cash generation is a major problem with sustained negative operating and free cash flow, keeping the overall financial profile below average.
Income Statement
32NegativeBalance Sheet
78PositiveCash Flow
24Negative| Breakdown | TTM | Dec 2025 | Dec 2024 | Mar 2024 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 52.81M | 28.05M | 3.66M | 4.95M | 3.49M | 2.64M |
| Gross Profit | 51.47M | 26.15M | 906.27K | 1.53M | 1.32M | -299.36K |
| EBITDA | 23.26M | -733.46M | -4.75M | -6.32M | -13.09M | -33.26M |
| Net Income | -1.06B | -734.59M | 10.10M | -14.24M | -15.23M | -55.64M |
Balance Sheet | ||||||
| Total Assets | 2.17B | 2.43B | 2.57M | 71.28M | 65.05M | 20.56M |
| Cash, Cash Equivalents and Short-Term Investments | 47.90M | 30.42M | 1.44M | 2.49M | 1.38M | 6.07M |
| Total Debt | 168.00K | 0 | 0 | 12.81M | 2.92M | 165.52K |
| Total Liabilities | 6.10M | 12.75M | 488.30K | 80.68M | 62.06M | 6.37M |
| Stockholders Equity | 2.17B | 2.42B | 2.08M | -9.40M | 2.99M | 14.19M |
Cash Flow | ||||||
| Free Cash Flow | -34.91M | -17.48M | -22.82M | 296.74K | -5.95M | -6.33M |
| Operating Cash Flow | -34.90M | -17.48M | -22.81M | 582.89K | -5.94M | -6.07M |
| Investing Cash Flow | -111.07M | -2.95B | -18.71M | -1.03M | 48.30M | -4.41M |
| Financing Cash Flow | 183.93M | 3.00B | -17.38M | 9.78M | 2.68M | 15.68M |
SharpLink Gaming Technical Analysis
Price Trends
Market Momentum
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SBET, the sentiment is Negative. The current price of 5.77 is below the 20-day moving average (MA) of 7.09, below the 50-day MA of 8.25, and below the 200-day MA of 7.08, indicating a bearish trend. The MACD of -0.63 indicates Positive momentum. The RSI at 34.11 is Neutral, neither overbought nor oversold. The STOCH value of 11.31 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SBET.
SharpLink Gaming Risk Analysis
SharpLink Gaming disclosed 56 risk factors in its most recent earnings report. SharpLink Gaming reported the most risks in the "Finance & Corporate" category.
Latest Risks Added
3 New RisksSharpLink Gaming Peers Comparison
Overall Rating
RSI71Outperform
CDRO64Neutral
BALY52.7Neutral
PENN52Neutral- SBET50Neutral
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| RSI | 71Outperform | $2.76B | 35.63 | 21.96% | ― | 38.66% | 9.55% |
| Sector * | 68Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% |
| CDRO | 64Neutral | $389.22M | 60.94 | 31.40% | ― | 6.33% | -150.96% |
| BALY | 53Neutral | $606.64M | -1.02 | -103.53% | ― | 20.38% | -24.51% |
| PENN | 52Neutral | $2.47B | -270.09 | -0.50% | ― | 6.72% | 98.91% |
| SBET | 50Neutral | $1.27B | -1.11 | -54.97% | ― | 302.98% | 32.37% |
* Financial Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| SBET | Sharplink Gaming Ltd. | 5.77 | -5.12 | -47.02% | |
| PENN | PENN Entertainment | 17.53 | 2.93 | 20.07% | |
| RSI | Rush Street Interactive, Inc. | 11.80 | -5.44 | -31.55% | |
| CDRO | Codere Online | 8.54 | 2.85 | 50.09% | |
| BALY | Bally's Corporation | 11.54 | -5.63 | -32.79% |
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.
Date of analysis: Nov 09, 2026