SharpLink reported a 1,100% jump in Q3 revenue, hitting $10.8 million
SharpLink reported a significant financial growth in Q3 2025, with revenue increasing more than 1,100% year-over-year to $10.8 million and net income reaching $104.3 million compared to a $885,000 loss last year. Earnings per share stood at $0.62, with a year-end projection of $0.87. The company revealed a $1.5 billion stock buyback program and held 817,747 ETH valued at $3 billion, alongside $11.1 million in cash and $26.7 million in USDC. SharpLink also completed a $76.5 million capital raise and expanded its ETH treasury strategy by deploying $200 million ETH on Consensys’ Linea zkEVM Layer 2 network. Analyst firms praised the ETH strategy, with new stock price targets ranging from $24 to $50. Key hires included Matthew Sheffield, Mandy Campbell, and Michael Camarda as leaders in investment, marketing, and development, respectively. Over six months, the stock delivered a 249% return amidst volatility tied to its crypto exposure, trading at $11.57 as of Q3.
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Outstanding Revenue Growth in Q3 2025
SharpLink reported that its third-quarter revenue for 2025 jumped to $10.8 million, up from just $0.9 million in the same quarter last year, according to the earnings press release. This represents a staggering increase of more than 1,100%, which aligns with the company’s forecast for 313% full-year revenue growth. Additionally, SharpLink reported a significant turnaround in profitability, with $104.3 million in net income compared to a $885,000 net loss a year ago.
Earnings and Balance Sheet Overview
Earnings for the third quarter came in at $0.62 per share, while analysts anticipated $0.87 by year-end. SharpLink also disclosed assets, including 817,747 ETH valued at roughly $3.0 billion, $11.1 million in cash, and $26.7 million in USDC. The balance sheet reflected a current ratio of 6.83, sufficient to cover near-term needs.
Stock Buyback Program and Share Price Fluctuations
SharpLink’s Board approved a $1.5 billion stock buyback for the quarter. As of September 30, the company had repurchased 1,938,450 shares for $31.6 million. The share price currently stands at $11.57, a significant recovery from the year’s low of $2.26, but still far below the year’s high of $124.12. The company noted that the stock is trading above Fair Value and continues to experience high price volatility due to its exposure to cryptocurrency.
ETH Deployment and Expansion Through Linea
SharpLink announced that it is working with Consensys’ Linea platform, a zkEVM Layer 2 network, to deploy $200 million worth of Ethereum. The goal is to access staking rewards tied to Ethereum activity. Following an October registered direct offering that raised $76.5 million at a 12% premium, the company increased its holdings to 859,853 ETH after purchasing an additional 19,271 ETH. This capital raise brought in gross proceeds of $76.5 million, pricing at a premium to net asset value.
Leadership Moves and Strategic Updates
During Q3 2025, SharpLink hired Matthew Sheffield as Chief Investment Officer, Mandy Campbell as Chief Marketing Officer, and Michael Camarda as Chief Development Officer. Co-CEO Joseph Chalom stated, “The third quarter of 2025 marked our first full quarter executing on SharpLink’s ETH treasury strategy, and the results clearly validate our execution.” The company emphasized that its ETH strategy significantly impacted its strong performance in the quarter.
Analyst Ratings and Financial Outlook
Following the financial update, analysts responded positively to SharpLink’s performance. Bernstein initiated coverage with an Outperform rating and a $24 target, while B. Riley gave a Buy rating and a $32 target. Citizens issued a Market Outperform rating with a $50 target, with all three firms citing the company’s ETH activity and robust financial results as key factors in their updated evaluations. The stock has delivered a 249% return over the past six months, despite volatility.
Investor Communications
SharpLink reminded investors of a scheduled conference call at 8:30 AM ET today to discuss its financial results and strategies further. Investors are expected to gain more insights into the company's performance, ETH treasury strategy, and future outlook during this session.