SharpLink Gaming Q2 revenue misses, loss widens on unrealized losses and impairments
SBET•Outlook
- Company expects to fund first investments in new Galaxy Sharplink Onchain Yield Fund in coming weeks
- SharpLink sees accelerating institutional adoption and expanding onchain activity in Ethereum ecosystem
- Company plans continued investment in Ethereum ecosystem infrastructure and institutional engagement
Overview
- Ethereum treasury platform's Q2 revenue rose sharply yr/yr but missed analyst expectations
- Net loss widened to $394.3 mln, driven by non-cash unrealized losses and impairments
- Company completed $75 mln direct offering and repurchased $10 mln in shares during Q2
Key details
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|---|---|---|
| Q2 Revenue | Miss | $11.50 mln | $12.48 mln (4 Analysts) |
| Q2 Net Loss | $394.30 mln |
- The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
- The average consensus recommendation for the advertising & marketing peer group is "buy"
- Wall Street's median 12-month price target for Sharplink Inc is $14.00, about 117.7% above its August 7 closing price of $6.43
