U.S. stock futures slip lower on waning rate cut bets; Applied Materials falls
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 Q3 2025, up more than 1,100% from $0.9 million reported for the three months ended September 30, 2024. The company attributed the performance to its actively managed Ether treasury strategy.
The company’s ETH holdings totaled approximately 817,747 ETH as of September 30, 2025, increasing to 861,251 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 of Directors 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 completed a $76.5 million registered direct offering in October, priced at a 12% premium to SharpLink’s closing share price on October 15, 2025. SharpLink also expanded its executive leadership team with three new appointments in October, including Matthew Sheffield as Chief Investment Officer, Mandy Campbell as Chief Marketing Officer, and Michael Camarda as Chief Development Officer.
SharpLink announced plans to deploy $200 million of its ETH treasury holdings on Consensys’ Linea platform via ether.fi and EigenCloud. The company partnered with Superstate in September to launch tokenized SBET on Ethereum.
The company will host a conference call on November 13, 2025 at 8:30 AM ET to discuss the results.