SharpLink Gaming Ltd. (SBET) Stock

SharpLink Gaming Ltd. (SBET) is a Financials stock trading at $7.58 (as of 2026-08-20), with a market capitalization of $1.65B. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

SharpLink Gaming Ltd. runs an online platform that links sports fans, leagues, and sports websites to sports betting and iGaming content, including affiliate marketing and related player acquisition and retention services. It also provides services tied to free-to-play games and contests and technology for telecom expense management and enterprise mobility/call usage support for customers.

Understand SharpLink Gaming Ltd.: how it makes money

SharpLink Gaming connects sports fans, leagues, and sports websites to sports betting and iGaming content, collects information on potential U.S. domiciled bettors, and converts that audience into paying sports betting customers, with additional revenue from sports betting data sold to media publishers.

The profit engine is lead generation and conversion, the company gathers information on potential U.S. sports bettors from contextual sports content and then monetizes by converting those users into paying sports betting customers (with additional monetization via sports betting data for media).

Revenue by segment (latest quarter)
Staking	$0.0B
Affil US	$0.0B
Affil Intl	$0.0B
Client Svcs	$0.0B

Business quality (Weak): Track record of monetization is unclear in the latest quarter, with reported revenue at 0.0B and a very large negative operating margin, so investors should focus on whether affiliate and client services convert their audience into recurring revenue.

Bull case

Conversion-focused affiliate model: The company collects information on potential U.S. domiciled sports bettors and connects them with contextual sports betting content to convert them into paying customers.
Multiple monetization surfaces: Beyond customer conversion, it offers sports betting data to sports media publishers, creating another way to monetize its sports betting content.
Ecosystem indicators exist: Operational disclosures include LeagueSafe private fantasy football league counts and cumulative ether staking rewards, suggesting it can track engagement and treasury activity alongside core monetization.

Bear case

Latest-quarter revenue is effectively zero: For the quarter ended 2026-03-31, reported revenue is 0.0B, while most segment candidate revenues shown are 0.0B.
Operating losses are very large: Operating margin for the latest quarter is -5677.4, indicating costs are not being covered by operating revenue in that period.
Conversion is the critical dependency: The business relies on connecting and converting potential bettors through sports betting content, so weak conversion or partner performance would directly limit revenue.

Valuation — source: SEC EDGAR (first-party)
Price	$7.58
Market Cap	$1.65B
Price / Book	1.17
Price / Sales	35.42
FCF Yield	-0.5%

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$28.05M
Net Margin	-2618.4%
Revenue Growth (YoY)	666.0%
EPS Growth (YoY)	-351.5%
FCF Growth (YoY)	-23.1%

Financial Health — source: SEC EDGAR
Altman Z-Score	68.89 (safe)

Valuation vs Sector & Industry
Sector P/E (Financials)	15.1
Industry P/E (Banking)	12.9

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional Holder	FMR LLC ($119.72M)
Institutional Holders Tracked	10

Company
Sector	Financials
Industry	Banking
CEO	Joseph Chalom
Employees	5
Country	US
IPO Date	1997-05-21

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Data as of 2026-08-20.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.