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| Statement |
|---|
| Overall, as we progress through the fourth quarter, we're pleased with our execution thus far this year |
| SharpLink posted another strong quarter, marked by triple-digit percentage revenue growth for both the three- and nine-month reporting periods |
| Beyond the top-line, our gross profit margin has been a clear positive story, showcasing the logic and strategy that's gone into strengthening our infrastructure and diversifying our technology solutions and service offerings |
| As Rob mentioned, we saw a sharp expansion in our gross profit margin in both the three- and nine-month reporting periods |
| business and International business remain hard at work to build an affiliate marketing platform that is not only a strong revenue channel but one that delivers SharpLink a broad, sticky audience of sports fans and provides our sportsbook partners with high-quality traffic of new sports bettors |
| Moreover, we expect to leverage this new flagship website to benefit from cross-promotional opportunities between all of SharpLink's business units including promos and driving traffic to our proprietary fantasy sports and free-to-play properties with full betting integration built-in |
| The revenue expansion that we achieved over the past three consecutive quarters is due in large measure to the successful execution of our M&A activities, which began in December 2021 with the acquisition of FourCubed, followed by our merger with SportsHub Games Network just one year later in December 2022 |
| sports betting industry in general, we remain optimistic as we persist in our efforts to achieve our KPIs and continue to create long-term value for our shareholders |
| As Rob noted, revenues were strong, climbing 153% and 101% for the three- and nine-month period ended September 30, 2023, respectively |
| For the first nine months of 2023, gross profit nearly tripled, rising 281% to $3.5 million from $905,000 |
| generated $817,000 compared to $285,000; Affiliate Marketing Services International revenues climbed to $3.3 million from $2.5 million; and the Sports Gaming Client Services increased revenues to $2.2 million compared to $2.1 million on a year-over-year basis |
| Our purpose of acquiring FourCubed was to take advantage of its team's many years of success, specialized expertise and experience in building a highly engaged affiliate marketing network for online poker stakeholders across the European continent |
| Likewise, gross profit margin increased to 34.8% and 34.7% for the three- and nine-months ended September 30, 2023 |
| This represents a 22% increase over the prior year season |
| SharpLink's merger with SportsHub was also approached and executed with the intent to own fantasy sports assets that will provide us with a growing proprietary audience of sports fans whose passion for fantasy sports games and contest will fuel their conversion to legal sports betters |
| More specifically, total revenues increased to $3.3 million in Q3 2023 compared to $1.3 million for Q3 of last year |
| Gross profit increased 505% to $1.1 million for the three months ended September 30, 2023, from gross profit of approximately $188,000 for the comparable three months in 2022 |
| For the nine months ended September 30, 2023 compared to the first nine months of 2022, total revenues rose to $9.9 million from $4.9 million, respectively |
| While the broader Wall Street market is yet to recognize and reward SharpLink for the success we are achieving on executing our long-term growth plan, we'll nonetheless continue to remain focused on nailing our KPIs and forge ahead with the intent of optimizing, enduring value creation for our shareholders |
| With that, I'd like to thank you all for joining our webcast today, and thank you again for your continued support |
| With that, I'd like to wish everyone a good day |
| Our Sports Gaming Client Services group, which produces free-to-play games for our marquee list of sports media operators, leagues, teams and sports books, held steady at $420,000 in revenues for the three months ended September 30th of this year, which compared to $417,000 in Q3 of last year |
| As Bob will share, SportsHub is playing a significant role in the growth of SharpLink despite the fact the market is yet to recognize the value this new business unit and its portfolio fantasy sports assets represent |
| For the three months ended September 30, 2023, total operating expenses increased 71% to $3.6 million, up from $2.1 million for the three months ended September 30, 2022 |
| contributed $232,000 for the three months ended September 30, 2023, up from $115,000 last year, and Affiliate Marketing Services International achieved revenues of $1.2 million in Q3 compared to $761,000 in Q3 of '22 |
| We appreciate your participation |
| The total net loss attributable to ordinary shareholders increased 39% to $2.9 million or $0.99 loss per share, which compared to a net loss attributable to shareholders of $2.1 million or $0.86 loss per share for the same three months in 2022 |
| Statement |
|---|
| For the nine months ended September 30, 2023, the total net loss available to ordinary shareholders was $9.2 million or $3.35 loss per share, reflecting a 34% decline when compared to the total net loss attributable to shareholders of $13.9 million or $5.89 loss per share reported for the comparable nine-month period in the previous year |
| While we are certainly mindful of the ongoing uncertainties of the market challenges affecting the U.S |
| For the nine months ended September 30, 2023 and '22, operating expenses declined 18% to $11 million from $13.4 million, largely due to goodwill and intangible asset impairment of $4.7 million recorded in the nine-month period ended September 30, 2022 |
| The redomestication of SharpLink has been a long and expensive undertaking, but one that we believe is essential to our long-term growth strategy and overall cost reduction in corporate spend |
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