Sharplink Inc (NASDAQ:SBET) shares are trading flat Monday afternoon after the company released fourth-quarter and full-year 2025 results earlier in the day. Investors are weighing strong top-line growth against a steep annual net loss driven largely by crypto-related accounting charges.
Here’s what investors need to know.
- Sharplink stock is showing downward bias. What’s the outlook for SBET shares?
Sharplink Expands Ethereum Treasury, Institutional Ownership Rises
For the fourth quarter, Sharplink reported an adjusted loss of $1.19 per share, improving from a loss of $3.00 a year earlier. Quarterly revenue rose to $15.772 million from $823,441 in the prior year period but missed Wall Street estimates of $17.348 million.
For full-year 2025, revenue climbed to $28.1 million from $3.7 million in 2024, while fourth-quarter staking revenue increased to $15.3 million from $10.3 million in the third quarter.
The company posted a net loss of $734.6 million, versus net income of $10.1 million in 2024, driven largely by a $616.2 million unrealized loss tied to Ethereum (CRYPTO: ETH) market conditions and a $140.2 million impairment charge on LsETH.
Sharplink Holds 868,699 ETH, Targets Treasury Growth
Management said 2025 marked Sharplink’s transformation into an institutional-grade Ethereum treasury platform. The company said it had accumulated 864,597 ETH as of Dec. 31 and 868,699 ETH to date, while doubling ETH per share and increasing institutional ownership to 46% by year-end.
Sharplink ended 2025 with $28.5 million in cash and $1.9 million in USDC, and reiterated plans to keep compounding ETH per share in 2026.
Benzinga Edge Rankings
Benzinga Edge data shows SBET with a Momentum score of 30.61, while its short-, medium- and long-term price trends all flash bearish signals.
SBET Shares Trade Flat Monday Afternoon
SBET Price Action: Sharplink shares were up 1.22% at $7.45 at the time of publication on Monday. The stock is near its 52-week low of $2.25, according to Benzinga Pro data.
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