SharpLink Gaming Q1 revenue reaches more than $975,000
The CEO described the period as a “pivotal quarter,” although revenue was down.
SharpLink Gaming has published its financial and business results for the first quarter of 2024. Revenue from its operations reached more than $0.9m during Q1, although this was 21% down year-on-year.
The company reduced its net loss by 18.4% year-over-year, bringing total Q1 net loss down to $1.7m.
SharpLink reported a substantial boost in its net income from discontinued operations, which reached more than $14m during the quarter.
The company posted total Q1 net income of almost $12.4m, the equivalent of $3.36 income per share.
Company Chairman and CEO Rob Phythian took a moment to discuss the results by saying, “2024 kicked off being marked by a pivotal quarter defined by the successful execution of a series of initiatives.
“We view each of these important milestones as critical first steps in achieving the strategic transformation of our company, enabling us to ultimately win distinction as a leading pure-play online affiliate marketing company trusted by and relied upon by our US sportsbook and global casino gaming partners.”
Phythian went on to outline SharpLink’s expansion plans for the rest of the year.
He said, “We plan to continue to enhance our value proposition to our sportsbooks and casino operator partners, while also actively seeking opportunities to expand our iGaming affiliate marketing network into new US and international markets where online sports betting and casino gaming have been legalized.
“Moreover, we intend to continue executing our strategic transformation with clarity and focus, and in doing so, we hope to deliver strong, sustainable value creation for our fellow shareholders for many years to come.”
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