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Jun 30, 2025
SharpLink Gaming Inc Q2 2025 Earnings Report
SharpLink launched its ETH treasury strategy and reported a significant net loss driven by non-cash charges.
Key Takeaways
SharpLink generated $700,000 in Q2 revenue but reported a $103.4 million net loss, primarily due to a non-cash impairment of LsETH and stock-based compensation tied to its ETH-focused strategy.
Revenue was $700,000, down from $1.0 million in Q2 2024
Reported a net loss of $103.4 million, mainly driven by a non-cash impairment of $87.8 million on LsETH holdings
Gross margin improved to 30%
Acquired 728,804 ETH and staked nearly 100% of holdings
Forward Guidance
SharpLink plans to continue scaling ETH holdings and deepen its staking strategy as part of its Ethereum-focused financial transformation.
Positive Outlook
- Successfully launched ETH as primary treasury reserve asset
- Raised over $2.6 billion in capital for ETH acquisitions
- Formed strategic partnership with Consensys
- Appointed top industry leaders including Ethereum Co-Founder Joseph Lubin
- Staked nearly 100% of ETH to generate yield
Challenges Ahead
- Recorded $87.8 million non-cash impairment on LsETH holdings
- Reported $103.4 million net loss in Q2
- Revenue declined year-over-year
- Reported GAAP EPS of -$3.70
- No segment or geographic revenue breakdown provided
Historical Earnings Impact
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Avg. Return Before/After Earnings
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