SharpLink Gaming stock fell nearly 15% after the company reported a net loss of $103 million for Q2, a stark contrast to a $12 million net income during the same period last year. This decline follows a broader drop in Ethereum's value, which fell below $4,400 amid geopolitical tensions and economic concerns. SharpLink's revenue for the quarter was $1.4 million, down 30% from the previous year, with a gross profit of only $0.3 million. The losses are attributed partly to a non-cash impairment on their LSE holdings of staked ETH and substantial stock-based compensation connected to a strategic deal with blockchain firm Consensys. Despite holding 728,804 ETH valued at approximately $3.23 billion, the disappointing earnings outcomes have raised concerns among investors regarding the company's transition to an Ethereum-focused business model.

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