Sharplink (SBET)
Market Price (2/10/2026): $7.15 | Market Cap: $1.1 BilSector: Communication Services | Industry: Advertising
Sharplink (SBET)
Market Price (2/10/2026): $7.15Market Cap: $1.1 BilSector: Communication ServicesIndustry: Advertising
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 239% | Weak multi-year price returns2Y Excs Rtn is -92%, 3Y Excs Rtn is -158% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -22 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -170% |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -38% | Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 17% | Expensive valuation multiplesP/SPrice/Sales ratio is 81x |
| Megatrend and thematic driversMegatrends include Markets & Betting, Digital Content & Streaming, and Digital Advertising. Themes include Prediction Markets, Show more. | Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 154% | |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -74%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -74% | ||
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -4.2% | ||
| High stock price volatilityVol 12M is 500% | ||
| Key risksSBET key risks include [1] a valuation heavily dependent on volatile Ethereum prices, Show more. |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 239% |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -38% |
| Megatrend and thematic driversMegatrends include Markets & Betting, Digital Content & Streaming, and Digital Advertising. Themes include Prediction Markets, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -92%, 3Y Excs Rtn is -158% |
| Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 17% |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -22 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -170% |
| Expensive valuation multiplesP/SPrice/Sales ratio is 81x |
| Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 154% |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -74%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -74% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -4.2% |
| High stock price volatilityVol 12M is 500% |
| Key risksSBET key risks include [1] a valuation heavily dependent on volatile Ethereum prices, Show more. |
Qualitative Assessment
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1. Fundamental Business Model Shift and Increased Cryptocurrency Exposure.
SharpLink Gaming (SBET) underwent a significant strategic pivot, transitioning from a sports gaming affiliate marketing business to one primarily focused on Ethereum (ETH) treasury management, officially changing its corporate name to Sharplink, Inc. effective February 3, 2026. This transformation fundamentally altered the company's risk profile, as its financial performance became heavily tied to the volatile cryptocurrency market, with staking activities generating approximately 95% of its revenue by Q3 2025.
2. Significant Institutional Investor Exit.
During the fourth quarter of 2025, Apeiron Capital Ltd liquidated its entire holding of 1,354,400 SharpLink Gaming shares, with an estimated transaction value of $23.04 million. This substantial institutional divestment signaled a notable loss of confidence from a major investor in the company's new strategic direction or future prospects, contributing to downward pressure on the stock price.
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Stock Movement Drivers
Fundamental Drivers
The -48.6% change in SBET stock from 10/31/2025 to 2/9/2026 was primarily driven by a -83.8% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 10312025 | 2092026 | Change |
|---|---|---|---|
| Stock Price ($) | 13.84 | 7.11 | -48.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 3 | 13 | 316.8% |
| P/S Multiple | 106.5 | 80.9 | -24.1% |
| Shares Outstanding (Mil) | 24 | 149 | -83.8% |
| Cumulative Contribution | -48.6% |
Market Drivers
10/31/2025 to 2/9/2026| Return | Correlation | |
|---|---|---|
| SBET | -48.6% | |
| Market (SPY) | 1.7% | 52.8% |
| Sector (XLC) | 1.8% | 17.2% |
Fundamental Drivers
The -62.2% change in SBET stock from 7/31/2025 to 2/9/2026 was primarily driven by a -99.6% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 7312025 | 2092026 | Change |
|---|---|---|---|
| Stock Price ($) | 18.81 | 7.11 | -62.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 3 | 13 | 282.3% |
| P/S Multiple | 2.9 | 80.9 | 2673.1% |
| Shares Outstanding (Mil) | 1 | 149 | -99.6% |
| Cumulative Contribution | -62.2% |
Market Drivers
7/31/2025 to 2/9/2026| Return | Correlation | |
|---|---|---|
| SBET | -62.2% | |
| Market (SPY) | 10.1% | 53.8% |
| Sector (XLC) | 9.2% | 26.3% |
Fundamental Drivers
The 37.8% change in SBET stock from 1/31/2025 to 2/9/2026 was primarily driven by a 1625.2% change in the company's P/S Multiple.| (LTM values as of) | 1312025 | 2092026 | Change |
|---|---|---|---|
| Stock Price ($) | 5.16 | 7.11 | 37.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 4 | 13 | 239.0% |
| P/S Multiple | 4.7 | 80.9 | 1625.2% |
| Shares Outstanding (Mil) | 4 | 149 | -97.6% |
| Cumulative Contribution | 37.8% |
Market Drivers
1/31/2025 to 2/9/2026| Return | Correlation | |
|---|---|---|
| SBET | 37.8% | |
| Market (SPY) | 16.3% | 14.6% |
| Sector (XLC) | 15.2% | 10.0% |
Fundamental Drivers
The -89.0% change in SBET stock from 1/31/2023 to 2/9/2026 was primarily driven by a -99.9% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 1312023 | 2092026 | Change |
|---|---|---|---|
| Stock Price ($) | 64.80 | 7.11 | -89.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | � | 13 | 0.0% |
| P/S Multiple | � | 80.9 | 0.0% |
| Shares Outstanding (Mil) | 0 | 149 | -99.9% |
| Cumulative Contribution | 0.0% |
Market Drivers
1/31/2023 to 2/9/2026| Return | Correlation | |
|---|---|---|
| SBET | -89.0% | |
| Market (SPY) | 77.1% | 12.0% |
| Sector (XLC) | 118.5% | 6.4% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| SBET Return | -15% | -88% | -52% | -57% | 16% | -21% | -98% |
| Peers Return | -20% | -41% | 52% | 55% | -14% | -18% | -21% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 1% | 85% |
Monthly Win Rates [3] | |||||||
| SBET Win Rate | 33% | 25% | 25% | 50% | 17% | 0% | |
| Peers Win Rate | 35% | 35% | 58% | 55% | 57% | 10% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| SBET Max Drawdown | -29% | -91% | -62% | -69% | -67% | -32% | |
| Peers Max Drawdown | -39% | -54% | -14% | -22% | -36% | -21% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -1% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: GAMB, DKNG, FLUT, PENN, RSI.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 2/9/2026 (YTD)
How Low Can It Go
| Event | SBET | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -90.9% | -25.4% |
| % Gain to Breakeven | 1000.0% | 34.1% |
| Time to Breakeven | Not Fully Recovered days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -29.6% | -33.9% |
| % Gain to Breakeven | 42.0% | 51.3% |
| Time to Breakeven | 79 days | 148 days |
| 2018 Correction | ||
| % Loss | -22.7% | -19.8% |
| % Gain to Breakeven | 29.3% | 24.7% |
| Time to Breakeven | 7 days | 120 days |
| 2008 Global Financial Crisis | ||
| % Loss | -55.6% | -56.8% |
| % Gain to Breakeven | 125.3% | 131.3% |
| Time to Breakeven | 81 days | 1,480 days |
Compare to GAMB, DKNG, FLUT, PENN, RSI
In The Past
Sharplink's stock fell -90.9% during the 2022 Inflation Shock from a high on 1/3/2022. A -90.9% loss requires a 1000.0% gain to breakeven.
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About Sharplink (SBET)
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Here are 1-2 brief analogies for Sharplink (SBET):
- Shopify for sports betting and iGaming. (Sharplink provides the full-stack, white-label platform for other companies to launch their own branded sports betting and iGaming operations.)
- A white-label DraftKings or FanDuel for other companies. (Instead of building an online sports betting and iGaming platform from scratch, companies can use Sharplink's technology and managed services to launch their own branded version.)
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- Sports Betting Content & Data: Provides analytical tools, data, odds, and editorial content to inform sports bettors.
- Affiliate Marketing: Directs users to regulated online sportsbooks and iGaming platforms through its websites, earning commissions based on new player sign-ups or activity.
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Sharplink (symbol: SBET) sells primarily to other companies (B2B model).
While the company's SEC filings (e.g., 2023 10-K) indicate that a limited number of customers account for a significant portion of its revenue (e.g., two customers accounted for 15% and 13% of revenue in 2023), the specific names of these major customers are not disclosed in public documents due to confidentiality.
However, Sharplink's customer base generally includes a variety of entities within the gaming and esports ecosystem. The categories of companies it serves include:
- National sports betting operators
- Casinos
- Local esports gaming venues
- Tournament organizers
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Joseph Chalom Chief Executive Officer
Joseph Chalom was appointed sole Chief Executive Officer of SharpLink in December 2025, having initially joined as Co-CEO in July 2025. Prior to SharpLink, Mr. Chalom spent 20 years at BlackRock, where he held several senior roles, ultimately leading the firm's digital assets strategy. In this capacity, he spearheaded key crypto initiatives, including the launch of the iShares Bitcoin Trust (IBIT) and the iShares Ethereum Trust (ETHA), and pioneered the Ethereum-based tokenized treasury product BUIDL. He also served as BlackRock's Deputy Chief Operating Officer and Chief Operating Officer of BlackRock Solutions, overseeing the global expansion of the Aladdin platform. Mr. Chalom also served on the boards of Securitize and Clarity AI.
Robert DeLucia Chief Financial Officer
Robert DeLucia, a CPA, was appointed SharpLink's Chief Financial Officer in August 2022. He brings over 30 years of experience in financial management, including expertise in US GAAP accounting, SEC matters, mergers and acquisitions, bankruptcy, and fraud. His previous roles include Interim CFO of Neon Logistics, Chief Accounting Officer at GTT Communications, where he oversaw the company's financial restructuring and a $2 billion sale of its fiber backbone division, and Corporate Controller at Adelphia Communications Corporation, where he led a five-year financial restatement after an accounting fraud discovery. Mr. DeLucia has also provided fractional CFO services to mid-sized private equity firms through Tarsus CFO Services, indicating a pattern of managing companies backed by private equity.
Matthew Sheffield Chief Investment Officer
Matthew Sheffield became SharpLink's Chief Investment Officer in October 2025. Before joining SharpLink, he served as Head of U.S. Spot Trading at FalconX, a leading institutional digital asset prime brokerage, where he managed a trading team and initiated the firm's digital asset treasury strategic advisory. Earlier in his career, Mr. Sheffield worked at Bridgewater Associates, a major institutional asset manager, contributing to systematic trading strategies. He also co-founded a crypto hedge fund in 2022.
Mandy Campbell Chief Marketing Officer
Mandy Campbell was appointed Chief Marketing Officer of SharpLink in October 2025. Previously, she was a Partner and Head of Marketing at Bain Capital Crypto. She also led marketing efforts at the global cryptocurrency exchange Okcoin and managed fast-growing teams at companies such as GitHub, Lyft, and Meta (Facebook).
Michael Camarda Chief Development Officer
Michael Camarda was named SharpLink's Chief Development Officer in October 2025. He joined SharpLink from Consensys, a prominent Ethereum software company, where he directed corporate development initiatives, including capital raising, mergers and acquisitions, and venture capital investments. Prior to Consensys, Mr. Camarda worked at J.P. Morgan in both the Investment Banking Division and the firm's principal investments group, where he advised clients on capital raises and M&A transactions and executed venture capital and growth equity investments.
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The key risks to Sharplink (SBET) primarily stem from its significant strategic pivot to become an Ethereum (ETH) treasury manager, shifting its risk profile substantially from its former identity as a sports betting affiliate marketing company. The most significant risks include:
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Extreme Volatility and Concentration in Ethereum (ETH) Holdings: Sharplink's financial performance is now heavily reliant on the highly volatile price of Ethereum, as its business has largely transformed into an Ethereum treasury manager. A substantial decline in the cryptocurrency market, particularly in the value of ETH, could severely impact the company's net asset value, stock price, and potentially lead to significant impairment charges. The company is described as almost entirely dependent on the price of ETH, making it susceptible to market fluctuations.
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Regulatory Uncertainty in the Cryptocurrency Sector: The evolving and often unpredictable regulatory environment for digital assets poses a significant threat to Sharplink. Unfavorable regulatory actions, such as being classified as an unregistered investment company under the 1940 Act, or the implementation of stricter rules regarding cryptocurrency treasury strategies, could negatively affect Sharplink's existing investments, its operational capabilities, and its ability to raise capital in the future. Diverse regulatory frameworks across different jurisdictions (e.g., US, EU MiCA, UK) also complicate its cross-border operations.
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Execution Risk of its New Business Strategy and Financial Sustainability: Sharplink faces considerable execution risks in effectively managing and optimizing its substantial ETH holdings and developing new, stable revenue streams following its strategic transformation. While there have been recent improvements in stockholders' equity, the company has a history of financial instability, including reported net losses from continuing operations, and faces ongoing challenges in achieving consistent profitability. These factors also impact its ability to maintain compliance with Nasdaq listing requirements. Additionally, there is a risk of dilution due to share issuance.
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The direct integration of sports betting platforms by major sports media companies into their content ecosystems.
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Expected Drivers of Future Revenue Growth for SharpLink (SBET)
Over the next two to three years, SharpLink (SBET) is expected to drive its future revenue growth primarily through its evolving focus on digital assets and blockchain technologies, moving beyond its traditional affiliate marketing business. Here are the key drivers:- Growth and Performance of its Actively Managed Ether (ETH) Treasury: A significant driver of SharpLink's recent and projected revenue growth is its actively managed Ether (ETH) treasury. The company's revenue surged over 1,100% in the third quarter of 2025, largely attributed to the performance of this strategy. SharpLink aims to continue increasing its ETH holdings and actively manage them to generate substantial returns.
- Enhanced Yield Generation through ETH Staking and Decentralized Finance (DeFi) Protocols: SharpLink plans to deploy nearly all of its Ether holdings into "productive, yield-generating staking." The company has also announced intentions to allocate a substantial portion of its ETH treasury, specifically $200 million, for deployment on Consensys' Linea platform via ether.fi and EigenCloud, aiming to generate enhanced Ethereum DeFi yields. This active management and participation in DeFi protocols are anticipated to be a consistent source of revenue.
- Strategic Expansion into Crypto-Gaming and Broader Blockchain-Related Ventures: SharpLink is strategically investing in and exploring opportunities within the burgeoning crypto-gaming and blockchain sectors. The acquisition of a 10% equity stake in Armchair Enterprises Limited, which operates CryptoCasino.com, signifies this expansion. The company believes that blockchain technologies hold "significant potential" to revolutionize the global digital gaming industry by enhancing user experiences and fostering trust, thus opening new avenues for revenue growth.
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Share Repurchases
- Sharplink's Board of Directors authorized a stock repurchase program of up to $1.5 billion in August 2025.
- As of September 9, 2025, the company repurchased approximately 939,000 shares at an average price of $15.98, representing an estimated spend of $15 million.
- By September 16, 2025, Sharplink had repurchased an additional 1,000,000 shares at an average price of $16.67 per share, bringing the total repurchases since the program's initiation in August 2025 to 1,938,450 shares.
Share Issuance
- In August 2025, Sharplink Gaming issued 10,256,411 common shares at $19.50 through a registered direct offering, generating approximately $200 million in gross proceeds.
- The company entered into securities purchase agreements for an aggregate of $400 million with five global institutional investors in August 2025.
- Sharplink executed a $76.5 million registered direct offering in October 2025, priced at a 12% premium to the market price.
Inbound Investments
- Sharplink secured approximately $900 million in capital over a week in August 2025, which included a $400 million registered direct offering with institutional investors and a $200 million registered direct offering.
- In October 2025, the company completed a $76.5 million registered direct offering.
- The company's strategic shift to an Ethereum treasury model attracted significant institutional interest and capital.
Outbound Investments
- Sharplink has transformed its business model to focus on acquiring Ether (ETH) as its primary treasury reserve asset, aiming to become one of the world's largest corporate holders of ETH.
- In July 2025, Sharplink Gaming purchased 10,000 Ethereum from the Ethereum Foundation, an investment valued at an estimated $36 million.
- The company planned to deploy $200 million of ETH on Consensys' Linea via ether.fi and EigenCloud in October 2025 to enhance Ethereum DeFi yields, following a previous deployment of an additional $170 million of Ether into the Linea network.
Capital Expenditures
- Capital expenditures for the 12 months prior to February 2026 were reported at approximately -$7,282.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| SharpLink Gaming Stock Drop Looks Sharp, But How Deep Can It Go? | 10/17/2025 | |
| SharpLink Gaming (SBET) Operating Cash Flow Comparison | 08/25/2025 | |
| SharpLink Gaming (SBET) Revenue Comparison | 08/25/2025 | |
| SharpLink Gaming (SBET) EBITDA Comparison | 08/25/2025 | |
| SharpLink Gaming (SBET) Net Income Comparison | 08/25/2025 | |
| SharpLink Gaming (SBET) Operating Income Comparison | 08/25/2025 | |
| SharpLink Gaming (SBET) Tax Expense Comparison | 08/25/2025 | |
| SharpLink Gaming (SBET) Debt Comparison | 08/25/2025 | |
| ARTICLES | ||
| Analyzing SharpLink Gaming’s Price Catalysts And Key Risks | 08/25/2025 | |
| Why Sharplink Gaming Stock Surged 50% Last Week | 07/17/2025 |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 15.65 |
| Mkt Cap | 1.8 |
| Rev LTM | 3,261 |
| Op Inc LTM | 53 |
| FCF LTM | 59 |
| FCF 3Y Avg | 13 |
| CFO LTM | 313 |
| CFO 3Y Avg | 63 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 20.8% |
| Rev Chg 3Y Avg | 28.9% |
| Rev Chg Q | 18.3% |
| QoQ Delta Rev Chg LTM | 4.1% |
| Op Mgn LTM | 3.5% |
| Op Mgn 3Y Avg | -1.3% |
| QoQ Delta Op Mgn LTM | 0.1% |
| CFO/Rev LTM | 10.3% |
| CFO/Rev 3Y Avg | 6.2% |
| FCF/Rev LTM | 6.6% |
| FCF/Rev 3Y Avg | 0.1% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 1.8 |
| P/S | 1.7 |
| P/EBIT | 4.6 |
| P/E | -26.3 |
| P/CFO | 8.9 |
| Total Yield | -0.6% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | 0.4% |
| D/E | 0.3 |
| Net D/E | 0.2 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -17.9% |
| 3M Rtn | -22.8% |
| 6M Rtn | -41.0% |
| 12M Rtn | -36.1% |
| 3Y Rtn | -24.3% |
| 1M Excs Rtn | -20.3% |
| 3M Excs Rtn | -21.5% |
| 6M Excs Rtn | -49.7% |
| 12M Excs Rtn | -50.0% |
| 3Y Excs Rtn | -95.3% |
Price Behavior
| Market Price | $7.11 | |
| Market Cap ($ Bil) | 1.1 | |
| First Trading Date | 02/14/2024 | |
| Distance from 52W High | -91.0% | |
| 50 Days | 200 Days | |
| DMA Price | $9.68 | $15.37 |
| DMA Trend | up | down |
| Distance from DMA | -26.6% | -53.7% |
| 3M | 1YR | |
| Volatility | 87.5% | 501.9% |
| Downside Capture | 485.59 | 406.22 |
| Upside Capture | 148.93 | 370.33 |
| Correlation (SPY) | 49.6% | 14.6% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 2.98 | 3.00 | 3.22 | 3.80 | 3.71 | 2.34 |
| Up Beta | -2.02 | -1.54 | 0.62 | 3.08 | 4.00 | 3.25 |
| Down Beta | 5.07 | 4.80 | 4.69 | 4.33 | 1.43 | 1.06 |
| Up Capture | 214% | 224% | 178% | 290% | 2801% | 240% |
| Bmk +ve Days | 11 | 22 | 34 | 71 | 142 | 430 |
| Stock +ve Days | 10 | 20 | 28 | 60 | 110 | 304 |
| Down Capture | 297% | 323% | 358% | 325% | 171% | 113% |
| Bmk -ve Days | 9 | 19 | 27 | 54 | 109 | 321 |
| Stock -ve Days | 10 | 21 | 33 | 65 | 133 | 372 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with SBET | |
|---|---|---|---|---|
| SBET | 7.8% | 500.1% | 1.04 | - |
| Sector ETF (XLC) | 14.6% | 18.7% | 0.59 | 9.9% |
| Equity (SPY) | 15.5% | 19.4% | 0.62 | 14.5% |
| Gold (GLD) | 78.8% | 24.9% | 2.30 | -4.8% |
| Commodities (DBC) | 9.9% | 16.6% | 0.40 | -6.6% |
| Real Estate (VNQ) | 4.8% | 16.5% | 0.11 | 12.7% |
| Bitcoin (BTCUSD) | -27.0% | 44.8% | -0.57 | 9.3% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with SBET | |
|---|---|---|---|---|
| SBET | -60.5% | 245.8% | 0.23 | - |
| Sector ETF (XLC) | 12.1% | 20.8% | 0.49 | 8.7% |
| Equity (SPY) | 14.2% | 17.0% | 0.67 | 13.5% |
| Gold (GLD) | 22.3% | 16.9% | 1.07 | -1.4% |
| Commodities (DBC) | 11.6% | 18.9% | 0.49 | -2.3% |
| Real Estate (VNQ) | 5.0% | 18.8% | 0.17 | 9.6% |
| Bitcoin (BTCUSD) | 14.7% | 58.0% | 0.47 | 8.3% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with SBET | |
|---|---|---|---|---|
| SBET | -35.4% | 195.2% | 0.32 | - |
| Sector ETF (XLC) | 9.6% | 22.5% | 0.52 | 7.3% |
| Equity (SPY) | 15.5% | 17.9% | 0.74 | 10.5% |
| Gold (GLD) | 15.8% | 15.5% | 0.85 | -0.4% |
| Commodities (DBC) | 8.3% | 17.6% | 0.39 | -0.3% |
| Real Estate (VNQ) | 6.0% | 20.7% | 0.25 | 6.4% |
| Bitcoin (BTCUSD) | 69.0% | 66.8% | 1.08 | 4.9% |
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Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 11/12/2025 | -5.0% | -14.7% | -17.8% |
| 8/15/2025 | -15.5% | -23.2% | -28.5% |
| SUMMARY STATS | |||
| # Positive | 0 | 0 | 0 |
| # Negative | 2 | 2 | 2 |
| Median Positive | |||
| Median Negative | -10.3% | -18.9% | -23.2% |
| Max Positive | |||
| Max Negative | -15.5% | -23.2% | -28.5% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 09/30/2025 | 11/12/2025 | 10-Q |
| 06/30/2025 | 08/14/2025 | 10-Q |
| 03/31/2025 | 05/15/2025 | 10-Q |
| 12/31/2024 | 03/14/2025 | 10-K |
| 09/30/2024 | 11/14/2024 | 10-Q |
| 06/30/2024 | 08/15/2024 | 10-Q |
| 03/31/2024 | 05/17/2024 | 10-Q |
| 12/31/2023 | 03/29/2024 | 10-K |
| 09/30/2023 | 11/13/2023 | 10-Q |
| 06/30/2023 | 08/14/2023 | 10-Q |
| 03/31/2023 | 05/16/2023 | 10-Q |
| 12/31/2022 | 04/05/2023 | 10-K |
| 06/30/2022 | 10/07/2022 | 6-K |
| 12/31/2021 | 05/16/2022 | 20-F |
| 06/30/2021 | 09/30/2021 | 6-K |
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | McKenzie, Obie | Direct | Sell | 8182025 | 19.17 | 18,334 | 351,395 | 479,119 | Form | |
| 2 | Gutkowski, Robert M | Direct | Sell | 8182025 | 19.17 | 18,334 | 351,503 | 479,267 | Form | |
| 3 | Bernhard, Leslie | Direct | Sell | 8182025 | 19.17 | 18,334 | 351,400 | 479,127 | Form | |
| 4 | Phythian, Rob | Chief Executive Officer | Direct | Buy | 6022025 | 6.72 | 44,640 | 299,981 | 385,385 | Form |
| 5 | Delucia, Robert Michael | Chief Financial Officer | Direct | Buy | 6022025 | 6.72 | 7,440 | 49,997 | 94,799 | Form |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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