Core Insights - SharpLink Gaming, Inc. reported a significant transformation in its business operations, including the sale of its fantasy sports and sports game development businesses, which has positioned the company for future growth [4] - The company is exploring strategic opportunities to enhance its affiliate marketing business and increase stockholder value, with a focus on emerging trends in the iGaming space, particularly blockchain technologies [4] Financial Highlights - Revenues decreased by 26.1% to $3,662,349 in 2024 from $4,952,725 in 2023 [5] - Total operating expenses fell by 45.6% to $5,669,248 in 2024 compared to $10,425,865 in 2023 [5] - Net income rose to $10,099,619, or $2.29 per share, from a net loss of $14,243,182, or $5.19 loss per share, in the previous year [5] - Net income from discontinued operations increased by 586.7% to $14,573,262 in 2024 [5] - Net loss from continuing operations decreased by 60.2% to $4,473,643 in 2024 [5] - Cash on hand was $1,436,729, a decrease of 42.2% from $2,487,481 in 2023 [5] - Total stockholders' equity improved to $2,082,869 from a deficit of $9,399,769 in 2023 [5] Operational Highlights - The company completed the sale of its Sports Gaming Client Services and SHGN businesses for $22.5 million in January 2024, using part of the proceeds to eliminate approximately $19.4 million in debt [5] - In February 2024, SharpLink transitioned from an Israel limited liability company to a Delaware corporation [5] - A new Board of Directors was established in February 2024, with key appointments aimed at enhancing governance [5] - In July 2024, the Board initiated a review process for strategic alternatives to maximize value for stockholders [5] - In February 2025, SharpLink acquired a 10% equity stake in Armchair Enterprises for $500,000, with a right of first refusal for a controlling interest [5]
SharpLink Gaming Reports Full Year 2024 Financial Results