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SharpLink Gaming Inc. (SBET-3.28%) has filed its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing reports a decrease in revenues to $3,662,349 from $4,952,725 in the previous year, attributed to market conditions and customer losses.
Cost of revenues was $2,756,076, leading to a gross profit of $906,273, down from $1,532,663 in 2023.
Total operating expenses decreased to $5,669,248 from $10,425,865, primarily due to cost savings initiatives.
The company reported a net loss from continuing operations of $4,473,643, compared to a loss of $11,248,598 in the prior year.
Net income from discontinued operations was $14,573,262, resulting in a total net income of $10,099,619 for the year.
SharpLink completed the sale of its Sports Gaming Client Services and SportsHub Gaming Network units for $22.5 million, impacting its financial results.
The company repaid its outstanding term loans and lines of credit, reducing its debt obligations.
SharpLink is working to address Nasdaq listing deficiencies related to minimum bid price and stockholders' equity requirements.
Future plans include potential strategic alternatives and expansion of its affiliate marketing services.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the SharpLink Gaming Inc. annual 10-K report dated March 14, 2025. To report an error, please email earnings@qz.com.