Sharplink (SBET) Operating Expenses (2023 - 2026)
Sharplink (SBET) reported Operating Expenses of $202.0 million for Q1 2026, up 12008.99% year-over-year from N/an in Q1 2025, and up 177.54% quarter-over-quarter from $72.8 million in Q4 2025.
Sharplink (SBET) Operating Expenses (2023 - 2026) Analysis & Trends
Sharplink (SBET) has 4 years of Operating Expenses data on file, last reported at $202.0 million in Q1 2026.
- Operating Expenses for Q1 2026 came in at $202.0 million, up 12008.99% year-over-year; the trailing twelve-month figure through Mar 2026 was $296.6 million (up 4307.07% YoY), and the FY2025 annual result was $201.0 million, up 2285.9% from the prior year.
- Operating Expenses grew to $202.0 million in Q1 2026 per SBET's latest filing, from $72.8 million in the prior quarter.
- Over five years, Operating Expenses peaked at $202.0 million in Q1 2026 and troughed at $1.5 million in Q2 2024.
- A 4-year average of $24.1 million and a median of $2.0 million in 2023 frame the typical range for Operating Expenses.
- The sharpest annual moves came in 2024 and 2026: Operating Expenses tumbled 30.52% in 2024, then soared 12008.99% in 2026.
- A 4-year view of Operating Expenses shows it stood at $2.0 million in 2023, then slipped by 4.26% to $1.9 million in 2024, then surged by 3731.73% to $72.8 million in 2025, then surged by 177.54% to $202.0 million in 2026.
- Business Quant data shows SBET's Operating Expenses at $202.0 million in Q1 2026, $72.8 million in Q4 2025, and $19.6 million in Q3 2025.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | SOL Strategies | 94,425.84 Bn | 94,425.84 Bn | - | 386,258.80 |
| 2 | Morgan Stanley | 349.82 Bn | 216.29 Bn | - | 13.47 Bn |
| 3 | Goldman Sachs | 333.85 Bn | -603.70 Bn | - | 10.43 Bn |
| 4 | Schwab Charles | 160.31 Bn | 115.33 Bn | - | 3.29 Bn |
| 5 | Robinhood Markets | 97.28 Bn | 92.64 Bn | 960.00 Mn | 656.00 Mn |
| 6 | Interactive Brokers | 42.79 Bn | 53.38 Bn | - | 381.00 Mn |
| 7 | LPL Financial Holdings | 23.54 Bn | 22.51 Bn | - | 4.45 Bn |
| 8 | Tradeweb Markets | 21.20 Bn | 19.96 Bn | - | 330.51 Mn |
| 9 | Iren | 19.97 Bn | 17.75 Bn | 144.76 Mn | 81.75 Mn |
| 10 | Sharplink | 63.05 Mn | 46.18 Mn | 11.63 Mn | 201.98 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 201.98 Mn |
| Dec 31, 2025 | 72.77 Mn |
| Sep 30, 2025 | 19.56 Mn |
| Jun 30, 2025 | 2.33 Mn |
| Mar 31, 2025 | 1.67 Mn |
| Dec 31, 2024 | 1.90 Mn |
| Sep 30, 2024 | 1.68 Mn |
| Jun 30, 2024 | 1.48 Mn |
| Mar 31, 2024 | 1.97 Mn |
| Dec 31, 2023 | 1.98 Mn |
| Sep 30, 2023 | 1.80 Mn |
| Jun 30, 2023 | 2.14 Mn |
| Mar 31, 2023 | 2.05 Mn |