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Side-by-side financial comparison of FENNEC PHARMACEUTICALS INC. (FENC) and SharpLink Gaming, Inc. (SBET). Click either name above to swap in a different company.
FENNEC PHARMACEUTICALS INC. is the larger business by last-quarter revenue ($13.8M vs $10.8M, roughly 1.3× SharpLink Gaming, Inc.). SharpLink Gaming, Inc. runs the higher net margin — 961.6% vs -34.7%, a 996.3% gap on every dollar of revenue. On growth, SharpLink Gaming, Inc. posted the faster year-over-year revenue change (1129.9% vs 73.8%).
Fennec Pharmaceuticals Inc. is a biopharmaceutical firm focused on developing and commercializing therapies to reduce treatment-related side effects in pediatric cancer patients. Its lead product targets chemotherapy-induced ototoxicity, with core North American markets serving oncology providers and vulnerable pediatric patient groups.
Bonne Terre Limited is a British-based gambling company, owned by Flutter Entertainment, with headquarters in Leeds, West Yorkshire and offices in Solihull. Sky Betting & Gaming consists of five core brands: Sky Bet, Sky Vegas, Sky Casino, Sky Poker and Sky Bingo.
FENC vs SBET — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $13.8M | $10.8M |
| Net Profit | $-4.8M | $104.3M |
| Gross Margin | — | — |
| Operating Margin | -18.5% | — |
| Net Margin | -34.7% | 961.6% |
| Revenue YoY | 73.8% | 1129.9% |
| Net Profit YoY | -141.1% | 11880.2% |
| EPS (diluted) | $-0.17 | $0.62 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $13.8M | — | ||
| Q3 25 | $12.5M | $10.8M | ||
| Q2 25 | $9.7M | $697.3K | ||
| Q1 25 | $8.8M | $741.7K | ||
| Q4 24 | $7.9M | $823.1K | ||
| Q3 24 | $7.0M | $881.7K | ||
| Q2 24 | $7.3M | $981.3K | ||
| Q1 24 | $25.4M | $975.9K |
| Q4 25 | $-4.8M | — | ||
| Q3 25 | $-638.0K | $104.3M | ||
| Q2 25 | $-3.2M | $-103.4M | ||
| Q1 25 | $-1.2M | $-974.9K | ||
| Q4 24 | $-2.0M | — | ||
| Q3 24 | $-5.7M | $-885.1K | ||
| Q2 24 | $-5.6M | $-463.0K | ||
| Q1 24 | $12.8M | $12.4M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 30.0% | ||
| Q1 25 | — | 17.8% | ||
| Q4 24 | — | 20.2% | ||
| Q3 24 | — | 19.6% | ||
| Q2 24 | — | 28.5% | ||
| Q1 24 | — | 29.4% |
| Q4 25 | -18.5% | — | ||
| Q3 25 | -1.5% | — | ||
| Q2 25 | -28.3% | -14826.0% | ||
| Q1 25 | -9.2% | -124.8% | ||
| Q4 24 | -11.8% | — | ||
| Q3 24 | -74.6% | -90.4% | ||
| Q2 24 | -69.4% | -122.8% | ||
| Q1 24 | 54.2% | -172.6% |
| Q4 25 | -34.7% | — | ||
| Q3 25 | -5.1% | 961.6% | ||
| Q2 25 | -32.7% | -14832.1% | ||
| Q1 25 | -13.3% | -131.4% | ||
| Q4 24 | -25.0% | — | ||
| Q3 24 | -82.2% | -100.4% | ||
| Q2 24 | -76.5% | -47.2% | ||
| Q1 24 | 50.6% | 1265.5% |
| Q4 25 | $-0.17 | — | ||
| Q3 25 | $-0.02 | $0.62 | ||
| Q2 25 | $-0.11 | $-4.27 | ||
| Q1 25 | $-0.04 | $-1.84 | ||
| Q4 24 | $-0.02 | — | ||
| Q3 24 | $-0.21 | $-3.02 | ||
| Q2 24 | $-0.20 | $-1.35 | ||
| Q1 24 | $0.41 | $40.31 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $36.8M | — |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $35.5M | $3.1B |
| Total Assets | $70.6M | $3.1B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $36.8M | — | ||
| Q3 25 | $21.9M | — | ||
| Q2 25 | $18.7M | — | ||
| Q1 25 | $22.7M | — | ||
| Q4 24 | $26.6M | — | ||
| Q3 24 | $40.3M | — | ||
| Q2 24 | $43.1M | — | ||
| Q1 24 | $51.2M | — |
| Q4 25 | — | — | ||
| Q3 25 | $19.4M | — | ||
| Q2 25 | $19.4M | — | ||
| Q1 25 | $19.4M | — | ||
| Q4 24 | $19.3M | $0 | ||
| Q3 24 | $32.1M | $0 | ||
| Q2 24 | $31.8M | $0 | ||
| Q1 24 | $31.3M | — |
| Q4 25 | $35.5M | — | ||
| Q3 25 | $-4.5M | $3.1B | ||
| Q2 25 | $-7.5M | $452.5M | ||
| Q1 25 | $-5.9M | $2.1M | ||
| Q4 24 | $-5.9M | $2.1M | ||
| Q3 24 | $-5.2M | $2.0M | ||
| Q2 24 | $-1.4M | $2.8M | ||
| Q1 24 | $3.0M | $2.9M |
| Q4 25 | $70.6M | — | ||
| Q3 25 | $49.3M | $3.1B | ||
| Q2 25 | $44.9M | $453.9M | ||
| Q1 25 | $46.4M | $2.8M | ||
| Q4 24 | $44.9M | $2.6M | ||
| Q3 24 | $58.9M | $2.9M | ||
| Q2 24 | $63.2M | $3.8M | ||
| Q1 24 | $69.2M | $5.4M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.00× | ||
| Q3 24 | — | 0.00× | ||
| Q2 24 | — | 0.00× | ||
| Q1 24 | 10.40× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-6.0M | $-6.3M |
| Free Cash FlowOCF − Capex | — | $-6.3M |
| FCF MarginFCF / Revenue | — | -57.9% |
| Capex IntensityCapex / Revenue | — | 0.0% |
| Cash ConversionOCF / Net Profit | — | -0.06× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-6.0M | — | ||
| Q3 25 | $1.5M | $-6.3M | ||
| Q2 25 | $-3.7M | $-1.6M | ||
| Q1 25 | $-4.3M | $-514.1K | ||
| Q4 24 | $-1.5M | $-22.8M | ||
| Q3 24 | $-2.2M | $-591.2K | ||
| Q2 24 | $-8.4M | $-1.7M | ||
| Q1 24 | $39.0M | $-19.3M |
| Q4 25 | — | — | ||
| Q3 25 | — | $-6.3M | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $-22.8M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | $-19.3M |
| Q4 25 | — | — | ||
| Q3 25 | — | -57.9% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | -2772.0% | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | -1977.2% |
| Q4 25 | — | — | ||
| Q3 25 | — | 0.0% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.2% | ||
| Q3 24 | — | 0.0% | ||
| Q2 24 | — | 0.0% | ||
| Q1 24 | — | 0.2% |
| Q4 25 | — | — | ||
| Q3 25 | — | -0.06× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 3.04× | -1.56× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FENC
Segment breakdown not available.
SBET
| ETH Staking Segmet | $10.3M | 95% |
| Other | $569.8K | 5% |
