Filing Flows › Sharplink (SBET) › Q3 2025
Sharplink (SBET) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 12, 2025
Sharplink (SBET) reported revenue of $10.8M for the third quarter 2025 (Q3 2025), up 12-fold from a year earlier and up 16-fold from the quarter before. Operating margin was 967.6%, net earnings $104M (961.6% of revenue).
Sharplink, Q3 2025: revenue $10.8M (12× year over year), operating margin 967.6%, net earnings $104M, operating cash flow −$6.3M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $10.8M | 16× | 12× |
| Operating profit | $105M | — | — |
| Net earnings | $104M | — | — |
| Operating cash flow | −$6.3M | — | — |
What changed
Revenue was $10.8M in Q3 2025, up 1130% year over year and up 1456% from the previous quarter.
Operating profit was $104.9M, a 967.6% margin (up 1058.0 points year over year). Net earnings were $104.3M. The effective tax rate was 0.8%.
Operating cash flow was −$6.3M. Non-cash charges added back $2K of depreciation and amortization and $3.5M of share-based compensation. Working capital and other items used $114.0M. Capital expenditures of $5K exceeded it, leaving free cash flow of −$6.3M.
Questions
What was Sharplink's revenue in the third quarter 2025?
Sharplink (SBET) reported revenue of $10.8M for the third quarter 2025 (Q3 2025), up 12-fold from a year earlier and up 16-fold from the quarter before.
Was Sharplink profitable in the third quarter 2025?
Operating profit was $105M (967.6% of revenue) and net earnings $104M.
Source: Sharplink 10-Q on SEC EDGAR.