SharpLink Gaming sees Q3 gross profit rise

November 14, 2023
By

The CEO said the company continued to perform well during the quarter.

SharpLink Gaming has published its financial report for this year’s third quarter. The company posted quarterly revenue of $3.3m, more than doubling its results from one year ago.

The company saw a significant boost in gross profit during the third quarter, with a 505% rise during the last three months when compared to those from last year’s corresponding quarter. Gross profit reached $1.1m by the end of the period.

SharpLink also reported that its gross profit margin grew to 34.8% year-over-year.

Company CEO Rob Phythian commented on SharpLink’s results by saying, “I believe we continued to execute well in the third quarter, delivering material growth in revenue and gross margin.

“Our strong top-line results are a direct reflection of the smart expansion moves SharpLink has been making over the past year to optimize our product and service mix to best meet the demands of the fast-evolving US sports betting and iGaming industries and the sports fans they serve.”

SharpLink provides conversion and user engagement solutions to both the iGaming and US sports betting industries. The company plans to launch other websites as states continue to legalize sports betting.

SharpLink Gaming recently launched a series of marketing websites throughout the US. States with access to the customized sites include Arizona, Colorado, Iowa, Illinois, Indiana, Kansas, Louisiana, Michigan, New Jersey, New York, Pennsylvania, Tennessee, Virginia, West Virginia and Wyoming.

SharpLink said it has designed each site to draw in both online sports betting and online casino traffic.

State-by-State

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