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
DateValue
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