SBET PRESS-RELEASE SEC Filing Analysis

Latest settled — T+5d

SBET ▼ -18.69% at T+5d

SHORT call ✓ call won +18.69% · α vs SPY +18.60% · entry $7.76 → $6.31

Next anchor: T+20d due 4d ago

Currently $5.51 · +28.99% from $7.76 entry (call sign-flipped)

Entry anchored
May 11, 07:24 AM ET
via Databento tick

T+1d

-7.60%

call +7.60% · α +7.47%

$7.17

settled 5w ago

T+5d

-18.69%

call +18.69% · α +18.60%

$6.31

settled 26d ago

T+20d

—

call — · α —

—

due 4d ago

T+60d

—

call — · α —

—

in 8w

Price Chart

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Executive Summary

Sharplink reported a GAAP net loss of $685.6M ($3.25/share) for Q1 2026, massively missing the $0.00 consensus estimate due to $506.7M in unrealized losses on crypto assets and a $191.7M impairment charge. Revenue rose to $12.1M from $0.7M a year ago, driven by staking income, but the headline EPS miss and GAAP loss dominate the narrative. The company also announced a non-binding MOU with Galaxy Digital for a ~$125M onchain yield fund, but this is early-stage and does not offset the quarter's financial damage.

Actionable Insight

The massive GAAP loss and EPS miss will pressure the stock near-term, but the company's core ETH holdings and staking yield story remain intact. Watch for the Galaxy Sharplink Onchain Yield Fund to close and for ETH price recovery to reverse unrealized losses. The stock may trade more on ETH price action than quarterly GAAP results going forward.

Key Facts

GAAP net loss of $685.6M ($3.25/share) vs consensus estimate of $0.00 — a massive miss
Total revenue of $12.1M, up from $0.7M YoY, driven by $11.5M in staking revenue
Unrealized loss on crypto assets of $506.7M and LsETH impairment charge of $191.7M
ETH holdings: 870,821 ETH as of March 31, 2026, increasing to 872,984 ETH as of May 4, 2026
Announced non-binding MOU with Galaxy Digital for ~$125M Galaxy Sharplink Onchain Yield Fund
Cash and cash equivalents declined to $16.9M from $28.5M at year-end 2025

Financial Impact

GAAP net loss of $685.6M vs consensus $0.00 EPS; revenue $12.1M vs $14.8M consensus

epsnet incomerevenuecrypto asset valuations

Risk Factors

Continued ETH price decline could trigger further unrealized losses and impairments
Cash burn: cash dropped from $28.5M to $16.9M in one quarter
Galaxy fund MOU is non-binding — may not close or may launch on worse terms
Massive dilution risk: 210.9M diluted shares vs 531K a year ago

Market Snapshot

Exchange

Nasdaq

Sector

Finance Services

Analyst Consensus

93% bullish (14 analysts)

Documents Analyzed

This report is based on 1 press release from GlobeNewswire.

Document	Accession Number
PRESS-RELEASE Data (Synthetic)	press-3291851

6 reports for SBET

T+1T+5T+20T+60

Track record builds as more directional reports settle.

Filters

Reports for SBET — sortable, filterable
	Type				Now
Jun 11, 2026 2d ago	Institutional Cluster NEUTRAL ★ 3/10	$5.16 awaiting T+5	awaiting T+5	—	$5.51 (+6.78%)
May 15, 2026 29d ago	Insider Cluster NEUTRAL ★ 2/10	$6.72 $6.23	▼ −7.29%	▼ −8.26%	$5.51 (−18.01%)
May 14, 2026 29d ago	3 NEUTRAL ★ 2/10	$6.72 $6.23	▼ −7.29%	▼ −8.26%	$5.51 (−18.01%)
May 11, 2026 4w ago	8-K BEARISH ★ 7/10	$7.76 $6.31	▲ +18.69%	▲ +18.60%	$5.51 (+28.99%)
May 11, 2026 4w ago	Press Release BEARISH ★ 8/10	$7.76 $6.31	▲ +18.69%	▲ +18.60%	$5.51 (+28.99%)
Mar 9, 2026 13w ago	Press Release MIXED ★ 6/10	$7.60 $8.20	▲ +7.89%	▲ +9.25%	$5.51 (−27.50%)

US Market Status

Market Closed — Opens Mon (49h 15m)

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