SharpLink reported a significant jump in its third-quarter revenue for 2025, reaching $10.8 million compared to just $0.9 million in the same quarter last year, according to the company’s earnings press release. This represents an increase of more than 1,100%, aligning with expectations for a full-year revenue growth of 313%.
The company also announced a net income of $104.3 million, a remarkable turnaround from the $885,000 net loss recorded one year earlier. Earnings per share came in at $0.62, though analysts expect this to rise to $0.87 by the end of the year.
### Strong Balance Sheet and Asset Holdings
SharpLink reported holding 817,747 ETH, valued at approximately $3.0 billion, along with $11.1 million in cash and $26.7 million in USDC. The balance sheet showed a current ratio of 6.83, which the company stated is sufficient to cover all near-term needs.
The Board approved a $1.5 billion stock buyback program for the quarter. As of September 30, the company repurchased 1,938,450 shares for $31.6 million. The current share price stands at $11.57, significantly above the year’s low of $2.26, though still far below the year’s high of $124.12. SharpLink noted that the stock trades above fair value and volatility remains high due to its exposure to the cryptocurrency market.
### Capital Raise and Strategic Investments
In October, SharpLink completed a $76.5 million registered direct offering at a 12% premium to its October 15, 2025 closing price. Following this capital raise, the company increased its ETH holdings to 859,853 by purchasing an additional 19,271 ETH.
SharpLink announced plans to deploy $200 million worth of ETH on Consensys’ Linea platform through partnerships with ether.fi and EigenCloud. Linea is a zkEVM Layer 2 network, and the company aims to access staking rewards linked to Ethereum activity.
### Leadership Expansion and Market Performance
Co-CEO Joseph Chalom commented on the quarter, stating, “The third quarter of 2025 marked our first full quarter executing on SharpLink’s ETH treasury strategy, and the results clearly validate our execution.”
SharpLink also expanded its leadership team by appointing Matthew Sheffield as Chief Investment Officer, Mandy Campbell as Chief Marketing Officer, and Michael Camarda as Chief Development Officer.
The company highlighted that its stock has delivered a 249% return over the past six months, despite experiencing sharp declines from recent highs.
### Analyst Coverage and Outlook
Following the financial update, several analyst firms provided new ratings and price targets:
– Bernstein initiated coverage with an Outperform rating and a $24 target.
– B. Riley began coverage with a Buy rating and a $32 target.
– Citizens issued a Market Outperform rating with a $50 target.
All three analysts emphasized SharpLink’s ETH activity and strong financial performance when explaining their ratings and price targets.
### Upcoming Investor Communication
SharpLink reminded investors of a conference call scheduled for today at 8:30 AM ET to discuss recent developments and answer questions.
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https://bitcoinethereumnews.com/finance/sharplink-reported-a-1100-jump-in-q3-revenue-hitting-10-8-million/
