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SharpLink Gaming .(SBET) - 2023 Q2 - Earnings Call Transcript
2023-08-15 23:32
That completes my review of the Q2 results. Now, why don't we talk about some other operational developments that have helped drive our strong second quarter financial performance. Several of our shareholders kindly submitted questions in advance of today's webcast. Dodi, would you mind kicking off our Q&A session? Question-and-Answer Session A - Dodi Handy Sure, Rob. Okay. So our first question relates to the recent announcement regarding SharpLink's introduction of C4 BetSense. Can you please share how ge ...
SharpLink Gaming .(SBET) - 2023 Q2 - Quarterly Report
2023-08-14 20:32
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to ________ Commission file number: 000-28950 SHARPLINK GAMING LTD. (Exact name of registrant as specified in its charter) Israel 98-1657258 (State or ...
SharpLink Gaming .(SBET) - 2023 Q1 - Earnings Call Transcript
2023-05-16 17:15
Financial Data and Key Metrics Changes - In Q1 2023, revenue increased by 79% to $3.39 million from $1.9 million in Q1 2022, primarily due to contributions from the SportsHub Gaming network acquisition [11] - Gross profit rose by 114% to $1.34 million, with gross profit margin improving to 40% from 33% [12] - Net loss decreased by 60% to $2.82 million, or $1 per share, compared to a net loss of $7.04 million, or $2.99 per share, in the previous year [16] Business Line Data and Key Metrics Changes - The newly merged SportsHub/Fantasy Sports group contributed $1.4 million in Q1 2023, compared to $0 in the prior year [11] - Revenue from Sports Gaming Client Services increased by 17% to $1.05 million from $911,000 [11] - Affiliate Marketing international business group revenues rose by 9% to $1.01 million, while U.S. segment revenues surged by 355% to $280,000 [15] Market Data and Key Metrics Changes - The overall sports betting industry has seen stock price depreciation of approximately 61%, with a mean loss of over 82% [27] - SharpLink is currently trading at a sales multiple under 1x, significantly below the industry mean of over 1.5x [31] Company Strategy and Development Direction - The company emphasizes the importance of utilizing technology, such as C4 conversion technology, to enhance player engagement and conversion rates [22] - There is a focus on leveraging free-to-play games to convert sports fans into bettors, which is seen as a fundamental component of SharpLink's business model [29] Management's Comments on Operating Environment and Future Outlook - Management acknowledges the challenges posed by macroeconomic conditions affecting market performance but remains committed to delivering tangible results [40] - The company believes it is well-positioned for potential dynamic growth in the coming quarters [33] Other Important Information - The company successfully cured its NASDAQ deficiency and will continue trading without suspension [37] - An upcoming Annual General Meeting is scheduled for May 25, where shareholders will vote on several important proposals [24] Q&A Session Summary Question: Why was the reverse stock split implemented immediately? - Management was informed by NASDAQ that the company did not qualify for an extension, necessitating the reverse stock split to regain compliance [20] Question: What are the common themes from the SBC Summit? - The summit highlighted the industry's shift towards technology-enabled solutions for player acquisition and conversion, with a focus on free-to-play games [28] Question: Why has the stock value declined significantly? - The decline is attributed to broader market conditions affecting the sports betting industry, but management believes the market will correct as performance improves [38]
SharpLink Gaming .(SBET) - 2023 Q1 - Quarterly Report
2023-05-16 15:15
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to ________ Commission file number: 000-28950 SHARPLINK GAMING LTD. (Exact name of registrant as specified in its charter) Israel 98-1657258 (State or ...
SharpLink Gaming .(SBET) - 2022 Q4 - Earnings Call Transcript
2023-04-06 01:06
SharpLink Gaming Ltd (NASDAQ:SBET) Q4 2022 Earnings Conference Call April 5, 2023 4:30 PM ET Dodi Handy - Director, Communications Rob Phythian - Co-Founder, President and Chief Executive Officer Robert DeLucia - Chief Financial Officer Good afternoon, everyone, and thank you for participating in SharpLink's Webcast. Dodi Handy Great. Thanks for that update. Okay. So moving on, our next question relates to the development of our proprietary C4 tech solutions. Where does this stand and how do you see C4 help ...
SharpLink Gaming .(SBET) - 2022 Q4 - Annual Report
2023-04-05 01:42
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K (Mark One) For the transition period from _______ to ________ Commission file number: 000-1025561 SHARPLINK GAMING LTD. ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (Exact name of registrant as specified in its charter) Registrant's telephone number, ...
SharpLink Gaming .(SBET) - 2022 Q3 - Quarterly Report
2022-10-07 20:40
Financial Performance - Revenues for the six months ended June 30, 2022, were $3,647,590, representing a 123% increase from $1,631,966 in the same period of 2021[8] - Gross profit for the same period was $210,190, slightly up from $203,967 in 2021, indicating a stable gross margin despite increased revenues[8] - Operating loss for the six months ended June 30, 2022, was $(10,492,658), a reduction in loss compared to $(21,094,446) in 2021, showing improved operational efficiency[8] - Net loss for the six months ended June 30, 2022, was $(11,844,362), compared to $(21,089,284) in the prior year, reflecting a significant decrease in losses[8] - For the six months ended June 30, 2022, the company reported a net loss of $11,844,362, a decrease from a net loss of $21,089,284 in the same period of 2021, representing a 43% improvement[12] - The company reported a net loss of $11,844,362 for the six months ended June 30, 2022, compared to a net loss of $21,089,284 for the same period in 2021[136] Assets and Liabilities - Total assets as of June 30, 2022, were $12,589,797, down from $20,559,826 as of December 31, 2021, indicating a reduction in asset base[5] - Total liabilities increased to $7,997,177 as of June 30, 2022, compared to $6,368,370 at the end of 2021, suggesting a rise in financial obligations[5] - Cash and cash equivalents decreased to $5,022,037 from $6,065,461, highlighting liquidity challenges[5] - The accumulated deficit increased to $(70,176,625) as of June 30, 2022, from $(58,332,263) at the end of 2021, indicating ongoing financial losses[6] - Stockholders' equity decreased to $4,592,620 as of June 30, 2022, from $14,191,456 at the end of 2021, reflecting the impact of net losses on equity[6] Cash Flow and Operating Activities - The company experienced cash used for operating activities of $3,484,288, compared to $2,038,734 in the prior year, indicating an increase in cash outflow[12] - Total cash and restricted cash at the end of the period was $5,022,037, down from $6,065,461 at the beginning of the year, reflecting a net change of $(1,043,424)[12] Goodwill and Impairments - Goodwill impairment charges totaled $1,515,000 due to the loss of access to players in the Russian market, impacting the company's financial position[28] - The Company recognized a goodwill and intangible asset impairment charge of $1,224,671 for the six months ended June 30, 2022, impacting the loss from discontinued operations[156] Mergers and Acquisitions - SharpLink, Inc. shareholders held 86% of the company post-MTS Merger, indicating a majority control[33] - The purchase consideration for the MTS Merger was $22,110,032, based on the fair value of MTS assets and liabilities[34] - The fair value of MTS assets acquired totaled $3,379,000, while total liabilities amounted to $3,850,000, resulting in net assets acquired of $(471,000)[41] - Goodwill recorded from the MTS acquisition was $22,581,032, with $21,722,213 impaired during the year ended December 31, 2021[41] - SharpLink acquired FourCubed for total consideration of $8,492,725, which included $6,886,523 in cash and 606,114 Ordinary Shares[52] - FourCubed's acquisition resulted in goodwill of $3,130,167, attributed to expected synergies and market opportunities[56] Financing and Debt - The company raised $3,250,000 through a term loan in 2022 to support ongoing operations and address liquidity needs[19] - The company entered into a $3,250,000 term loan agreement with Platinum Bank, bearing an annual interest rate of 4.00%, with a fixed monthly payment of $59,854 until maturity on January 31, 2027[63] - As of June 30, 2022, the remaining principal balance on the term loan was $3,001,402, with $607,711 due within the next 12 months[64] - The term loan requires the company to maintain a minimum quarterly debt service coverage ratio of 1.25, defined as adjusted EBITDA divided by debt service[64] Stock and Equity - The company authorized the establishment of 9,000 shares of 8% convertible preferred stock (Series A) and reserved 4,150,000 shares of common stock for conversion[67] - The Series A preferred stock has a cumulative dividend rate of 8% per annum, payable quarterly, and is convertible at a price of $2.1693 per share[70][72] - The company plans to issue Series B preferred stock for $6,000,000 immediately prior to completing the Going Public Transaction[75] - The company completed the MTS Merger on July 26, 2021, resulting in SharpLink, Inc. stockholders owning approximately 86% of the capital stock of SharpLink on a fully diluted, as-converted basis[90] Operational Highlights - The Affiliate Marketing Services – United States segment generated $170,032 in revenue, while the Sports Gaming Client Services segment contributed $1,713,597 for the six months ended June 30, 2022[136] - Customer A accounted for 41% of consolidated revenues in June 2022, while Customer B contributed 21%[140] - Software-as-a-service revenue for the United States segment was $170,032 for the six months ended June 30, 2022, up from $103,541 in the same period of 2021, reflecting a growth of about 64%[147] Management and Governance - The company appointed RSM US LLP as its independent registered public accountants for the year ending December 31, 2022[171] - The company’s new CFO, Robert DeLucia, was appointed effective August 22, 2022, following the departure of the former CFO[169] - The company’s CEO, Rob Phythian, may receive an annual bonus of up to 10 monthly base salaries, currently amounting to $250,000, based on performance criteria[171] - A special bonus of $68,000 was approved for the CEO due to his contribution to a $10 million financing round in November 2021[173]
SharpLink Gaming .(SBET) - 2021 Q4 - Earnings Call Transcript
2022-05-17 18:11
SharpLink Gaming Ltd (NASDAQ:SBET) Q4 2021 Earnings Conference Call May 17, 2022 11:30 AM ET Company Participants Dodi Handy - Director of Communications Rob Phythian - Co-Founder & Chief Executive Officer Brian Bennett - Chief Financial Officer Conference Call Participants Operator Good morning, everyone, and thank you for participating on today's conference call and webcast. Joining us today from SharpLink Gaming is Co-Founder and Chief Executive Officer, Rob Phythian; CFO, Brian Bennett; and Dodi Handy, ...
SharpLink Gaming .(SBET) - 2021 Q4 - Annual Report
2022-05-16 20:53
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F Commission file number: 0-28950 SHARPLINK GAMING LTD. Formerly Mer Telemanagement Solutions Ltd. (Exact name of Registrant as specified in its charter) Israel (Jurisdiction of incorporation or organization) 333 Washington Avenue North, Suite 104, Minneapolis, Minnesota 55401 (Address of principal executive offices) Brian Bennett (Chief Financial Officer), 612-293-0619, 333 Washington Avenue North, Suite 104, Minneapolis, Minne ...
SharpLink Gaming .(SBET) - 2020 Q4 - Annual Report
2021-05-17 17:37
SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 F O R M 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For the month of May 2021 MER TELEMANAGEMENT SOLUTIONS LTD. (Name of Registrant) 15 Hatidhar Street, Ra'anana 43665, Israel (Address of Principal Executive Office) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40- Form 20-F ☒ Form 40-F ☐ Indicate by check mark if th ...