Leadership to Host Corporate Webcast Today at 11:00 AM Eastern TimeMINNEAPOLIS, MN / ACCESSWIRE / August 15, 2023 / SharpLink Gaming Ltd. (Nasdaq:SBET) (“SharpLink” or the “Company”), a pioneer of focused, data-driven fan activation and conversion options for the U.S. sports activities betting and iGaming industries, immediately introduced its monetary outcomes for the three and six months ended June 30, 2023.Second Quarter 2023 Financial HighlightsTotal income for the three months ended June 30, 2023 rose 86% to $3.26 million, in comparison with $1.75 million for a similar interval in 2022.Revenues from SportsHub/Fantasy Sports group totaled $1.13 million – up from $0 as a result of timing of the acquisition of SportsHub on December 22, 2022.Revenues from Affiliate Marketing Services – U.S. elevated 182% to $306,000 from $109,000.Revenues from Affiliate Marketing Services – International totaled $1.13 million – a 34% improve over revenues of $840,000.Revenues from Sports Gaming Client Services declined 13% to $699,000 from $803,000.For the six months ended June 30, 2023 in comparison with the six months ended June 30, 2022, complete revenues elevated 82% to $6.65 million from $3.65 million.SportsHub/Fantasy Sports group contributed $2.17 million to revenues in comparison with $0 within the prior yr.Revenues from Affiliate Marketing Services – U.S. rose 244% to $585,000 from $170,000.Revenues from Affiliate Marketing Services – International elevated 21% to $2.13 million from $1.75 million.Revenues from Sports Gaming Client Services elevated 3% to $1.76 million from $1.71 million.Gross revenue additionally drastically improved, growing 972% to roughly $965,000 for the three months ended June 30, 2023 and 222% to $2.31 million for the primary six months ended June 30, 2023. This in comparison with gross revenue of roughly $90,000 and $718,000 for the three and six months ended June 30, 2022. Gross revenue margin improved to 30% for the three months ended June 30, 2023 from 5% for the three months ended June 30, 2022; and to 35% for the six months ended June 30, 2023 from 20% for the six months ended June 30, 2022.Operating bills remained comparatively flat for the three months ended June 30, 2023 at $3.75 million as in comparison with $3.73 million for a similar interval in 2022. For the six months ended June 30, 2023, complete working bills declined 34% to $7.42 million from $11.29 million for a similar interval in 2022.Net loss attributable to shareholders of strange shares declined 28% to $3.49 million, or $1.24 loss per share, for the three months ended June 30, 2023, in comparison with web loss to shareholders of strange shares of $4.81 million, or $2.04 loss per share, for a similar interval in 2022. For the six months ended June 30, 2023, web loss attributable to shareholders of strange shares dropped 47% to $6.32 million, or $2.24 loss per share, in comparison with web loss attributable to shareholders of strange shares of $11.86 million, or $5.02 loss share, for the six months ended June 30, 2022.Story continuesFor extra detailed data on the second quarter 2023 monetary outcomes, please check with the Quarterly Report on Form 10-Q filed with the SEC and accessible on www.sec.gov and on www.sharplink.com.Second Quarter 2023 Corporate WebcastAs a reminder, SharpLink’s management will host a webcast immediately at 11:00 AM ET (8:00 AM PT) to debate the monetary outcomes. To entry the webcast, please go to https://www.webcaster4.com/Webcast/Page/2761/48770. A replay of the webcast might be accessible on the Company’s web site at https://www.sharplink.com/traders/#displays following the conclusion of the reside webcast.Rob Phythian, Co-Founder and Chief Executive Officer of SharpLink, said, “Every one in every of our enterprise segments executed effectively and successfully, producing constructive monetary leads to the primary six months of 2023, highlighted by robust income, increased revenue margins and decrease working spend. Looking forward, every of our enterprise models have dedicated to implementing outlined methods to attain particular progress targets within the second half of 2023, whereas leaning into cross-functional collaborations to unearth new progress alternatives as a collective workforce. With kickoff of the 2023/2024 NFL season quick approaching and March Madness simply across the nook, we anticipate to be in an important place to optimize our technological strengths, trade experience and market affect to seize new buyer wins and strategic enterprise alternatives with key gamers on the U.S. sports activities betting and iGaming stage within the quarters forward.”About SharpLink Gaming Ltd.Founded in 2019, SharpLink is a number one on-line expertise firm that connects sports activities followers, leagues and sports activities web sites to related and well timed sports activities betting and iGaming content material. SharpLink makes use of proprietary, clever, on-line conversion expertise to transform sports activities followers into sports activities bettors for licensed, on-line sportsbook operators. In addition, SharpLink makes a speciality of serving to sports activities media corporations, leagues, groups and sportsbooks develop methods, merchandise and modern options to drive deep fan activation and engagement with extremely interactive free-to-play video games and cellular purposes. Further, SharpLink owns and operates quite a lot of real-money fantasy sports activities and sports activities simulation video games and cellular apps on its platform; and is licensed or licensed to function in each state within the United States the place fantasy sports activities and on-line sports activities betting has been legalized. SharpLink’s proprietary fantasy sports activities platform reaches greater than two million fantasy sports activities followers who spent virtually $40 million on its portfolio of digital gaming experiences and contests in 2022. For extra data, please go to the SharpLink web site at www.sharplink.com.Forward-Looking StatementsThis launch comprises forward-looking statements which might be topic to varied dangers and uncertainties. Such statements embrace statements relating to the anticipated progress within the on-line betting and iGaming industries, the Company’s means to develop its enterprise, the potential advantages of the Company’s merchandise, providers and applied sciences and different statements that aren’t historic info, together with statements which can be accompanied by the phrases “intends,” “might,” “will,” “plans,” “expects,” “anticipates,” “initiatives,” “predicts,” “estimates,” “goals,” “believes,” “hopes,” “potential” or comparable phrases. Actual outcomes may differ materially from these described in these forward-looking statements attributable to sure elements, together with with out limitation, the Company’s means to attain worthwhile operations, authorities regulation of on-line betting, buyer acceptance of recent merchandise and providers, the demand for its merchandise and its prospects’ financial situation, the influence of aggressive merchandise and pricing, the prolonged gross sales cycle, proprietary rights of the Company and its rivals, common financial situations and different danger elements detailed within the Company’s annual report and different filings with the United States Securities and Exchange Commission. The Company doesn’t undertake any duty to replace the forward-looking statements on this launch.CONTACT INFORMATION:SHARPLINK MEDIA AND INVESTOR RELATIONS:SharpLink Gaming Ltd.Dodi Handy, Director of CommunicationsPhone: 407-960-4636Email: [email protected]: SharpLink Gaming Ltd.View supply model on accesswire.com: https://www.accesswire.com/774249/SharpLink-Gaming-Announces-Second-Quarter-2023-Results-with-Three-and-Six-Month-Revenues-Increasing-86-and-82-Respectively
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