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SharpLink Gaming Inc. (SBET) reported net income of approximately $104.3 million, or $0.62 per fully diluted share, for the third quarter ended September 30, 2025, compared to a net loss of approximately $885,000, or $(3.02) per fully diluted share, in the prior year period.
Total revenue increased to approximately $10.8 million in the third quarter of 2025, up more than 1,100% from $0.9 million reported for the three months ended September 30, 2024. The company attributed the revenue growth to performance from its actively managed Ether treasury.
The Minneapolis-based company held approximately 817,747 ETH as of September 30, 2025, which increased to 842,084 ETH as of November 9, 2025. Crypto assets totaled approximately $3.0 billion and cash on hand was $11.1 million with $26.7 million in USDC stablecoins at September 30, 2025.
In August, SharpLink’s board authorized a $1.5 billion stock repurchase program. As of September 30, 2025, the company had repurchased 1,938,450 shares of its common stock for $31.6 million.
The company announced in mid-October the pricing of a $76.5 million registered direct offering priced at a 12% premium to SharpLink’s closing share price on October 15, 2025. In October, SharpLink expanded its executive leadership team with the appointments of Matthew Sheffield as Chief Investment Officer, Mandy Campbell as Chief Marketing Officer, and Michael Camarda as Chief Development Officer.
SharpLink announced a collaboration to deploy $200 million of its ETH treasury holdings on Consensys’ Linea via ether.fi and EigenCloud. The company will host a conference call on November 13, 2025 at 8:30 AM ET to discuss the results.