Sharplink
Manages an Ethereum treasury while running a gaming-affiliate marketing operation.
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Profile
Operates an ETH treasury strategy alongside an affiliate-marketing business. It manages ETH holdings through financing, spot purchases and staking, while PAS.net and state-specific sites route prospective customers to licensed gaming operators.
Manages Ethereum holdings as its primary treasury asset, using public-market financing, spot purchases and proof-of-stake activity. The ETH Treasury Management segment is designed around ETH-denominated returns and native rewards.
PAS.net and state-specific affiliate sites direct prospective customers to licensed sportsbook and online-casino operators. The Affiliate Marketing segment earns through customer acquisition, retention and conversion activity, rather than by providing gaming services directly.
Based in Miami, the Nasdaq-listed company operates two reportable segments: ETH Treasury Management and Affiliate Marketing. Its treasury strategy depends on access to ETH, staking arrangements, custody controls and financing; the affiliate operation depends on regulated partners and qualified traffic.
Company facts
Categories
Key statistics
Year to date −15.3% · Average volume (30d) 8.5M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Rating | Prior target | Target |
|---|---|---|---|---|---|
| Aug 18, 2026 | Canaccord Genuity | Reiterate | Buy | $16 | $8 |
| May 11, 2026 | Industrial Alliance Securities | Target | $20 | $15 | |
| Jan 29, 2026 | Canaccord Genuity | Target | $16 | ||
| Jan 7, 2026 | Industrial Alliance Securities | Target | $20 | ||
| Jan 5, 2026 | Cantor Fitzgerald | Target | $15 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 7, 2026Q2 FY26 | $0.01 | −$1.88 | −14,203.5% | $12.3M | $11.5M | −6.0% | +2.23% |
| May 8, 2026Q1 FY26 | $0.02 | −$3.25 | −16,350.0% | $14.6M | $12.1M | −17.4% | +4.30% |
| Mar 9, 2026Q4 FY25 | $0.17 | −$3.55 | −2,188.2% | $17.5M | $15.3M | −12.5% | −2.76% |
| Nov 12, 2025Q3 FY25 | −$0.08 | −$0.02 | +75.0% | $17.2M | $10.8M | −36.9% | −5.01% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $741.7K | $697.3K | $10.8M | $15.8M | $12.1M | $11.5M | |
| Gross profit | $131.8K | $209.1K | $10.4M | $15.4M | $11.6M | $11.3M | |
| Operating income | −$925.5K | −$103.4M | $104.9M | −$11.6M | $1.8M | $2.2M | |
| Net income | −$974.9K | −$103.4M | $104.3M | −$734.5M | −$685.6M | −$394.3M | |
| Diluted EPS | −$1.84 | −$4.27 | $0.62 | −$3.73 | −$3.25 | −$1.88 | |
| Gross margin | 17.8% | 30.0% | 96.0% | 97.6% | 96.4% | 97.8% | |
| Operating margin | -124.8% | -14,826.0% | 967.6% | -73.3% | 14.5% | 19.2% |
Fiscal years (4-quarter sums)FY20 $2.3M · FY22 $7.3M · FY23 $5.0M · FY24 $3.7M · FY25 $28.1M
Revenue by product · Q2 FY26
Revenue by geography · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $56.2M · Total debt $0 · Total assets $1.42B · Shareholders' equity $1.41B
Dividends
No dividends on record.
Ownership
Shares outstanding 197.16M · Float 184.33M · 93.5% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| FMR LLC | 27.59M | 13.30% | 13G | Aug 7, 2026 |
| Highbridge Capital Management, LLC | 24.37M | 9.90% | 13G | Aug 14, 2026 |
| Joseph Michael Lubin | 16.54M | 7.80% | 13D | Apr 16, 2026 |
| BlackRock, Inc. | 14.03M | 6.60% | 13G | Jul 30, 2026 |
| Millennium Management LLC | 6.38M | 3.24% | 13F | May 15, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| May 12, 2026 | Robert M. Gutkowski | director | −12,892 | $7.41 |
| May 12, 2026 | Leslie Bernhard | director | −12,892 | $7.41 |
| May 12, 2026 | Obie Mckenzie | director | −12,892 | $7.41 |
| Mar 31, 2026 | Robert Michael DeLucia | officer: Chief Financial Officer | −2,848 | $6.21 |
Peers
- BitMine Immersion Technologies
Large ETH treasury with staking, DeFi, and validator infrastructure
- Bit Digital
ETH accumulation and staking alongside AI/HPC infrastructure
- BTCS
Ethereum-first treasury, block building, and DeFi operations
- FG Nexus
ETH-primary treasury with intended staking and yield strategies
- Grandstand
Online-gambling marketing and sports data for operator acquisition
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Sharplink | $8.19 | −0.18% | $1.62B | — | 196.9 | 32.2 | +1,553.3% |
| BitMine Immersion Technologies | $23.70 | −0.27% | $13.56B | — | 58.0 | 221.5 | +2,166.2% |
| Bit Digital | $1.44 | +1.05% | $499.3M | — | — | 4.1 | +25.1% |
| BTCS | $1.38 | +2.60% | $67.2M | — | — | 4.0 | −11.8% |
| FG Nexus | $7.98 | −1.48% | $64.3M | — | — | — | −97.3% |
| Grandstand | $1.86 | −0.53% | $65.3M | — | 4.1 | 0.4 | −4.6% |
| Median | — | 31.0 | 4.1 | −4.6% |