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Side-by-side financial comparison of SharpLink Gaming, Inc. (SBET) and TriSalus Life Sciences, Inc. (TLSI). Click either name above to swap in a different company.
TriSalus Life Sciences, Inc. is the larger business by last-quarter revenue ($13.2M vs $10.8M, roughly 1.2× SharpLink Gaming, Inc.). SharpLink Gaming, Inc. runs the higher net margin — 961.6% vs -73.9%, a 1035.4% gap on every dollar of revenue. On growth, SharpLink Gaming, Inc. posted the faster year-over-year revenue change (1129.9% vs 59.8%). TriSalus Life Sciences, Inc. produced more free cash flow last quarter ($-2.5M vs $-6.3M).
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.
TriSalus Life Sciences, Inc. is a clinical-stage biotechnology company focused on advancing immuno-oncology and interventional oncology solutions. It develops proprietary targeted drug delivery technologies designed to improve treatment efficacy for patients with liver, pancreatic and other hard-to-treat solid tumors, primarily operating in North American markets via partnerships with clinical care and research institutions.
SBET vs TLSI — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $10.8M | $13.2M |
| Net Profit | $104.3M | $-9.8M |
| Gross Margin | — | 86.7% |
| Operating Margin | — | -24.8% |
| Net Margin | 961.6% | -73.9% |
| Revenue YoY | 1129.9% | 59.8% |
| Net Profit YoY | 11880.2% | 3.5% |
| EPS (diluted) | $0.62 | $-0.22 |
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 | — | $13.2M | ||
| Q3 25 | $10.8M | $11.6M | ||
| Q2 25 | $697.3K | $11.2M | ||
| Q1 25 | $741.7K | $9.2M | ||
| Q4 24 | $823.1K | $8.3M | ||
| Q3 24 | $881.7K | $7.3M | ||
| Q2 24 | $981.3K | $7.4M | ||
| Q1 24 | $975.9K | $6.5M |
| Q4 25 | — | $-9.8M | ||
| Q3 25 | $104.3M | $-10.8M | ||
| Q2 25 | $-103.4M | $-8.3M | ||
| Q1 25 | $-974.9K | $-10.4M | ||
| Q4 24 | — | $-10.1M | ||
| Q3 24 | $-885.1K | $-2.4M | ||
| Q2 24 | $-463.0K | $-4.3M | ||
| Q1 24 | $12.4M | $-13.2M |
| Q4 25 | — | 86.7% | ||
| Q3 25 | — | 83.5% | ||
| Q2 25 | 30.0% | 83.9% | ||
| Q1 25 | 17.8% | 83.7% | ||
| Q4 24 | 20.2% | 85.3% | ||
| Q3 24 | 19.6% | 86.3% | ||
| Q2 24 | 28.5% | 87.6% | ||
| Q1 24 | 29.4% | 85.0% |
| Q4 25 | — | -24.8% | ||
| Q3 25 | — | -77.9% | ||
| Q2 25 | -14826.0% | -65.4% | ||
| Q1 25 | -124.8% | -79.9% | ||
| Q4 24 | — | -91.8% | ||
| Q3 24 | -90.4% | -118.9% | ||
| Q2 24 | -122.8% | -111.0% | ||
| Q1 24 | -172.6% | -180.8% |
| Q4 25 | — | -73.9% | ||
| Q3 25 | 961.6% | -93.5% | ||
| Q2 25 | -14832.1% | -73.9% | ||
| Q1 25 | -131.4% | -113.2% | ||
| Q4 24 | — | -122.4% | ||
| Q3 24 | -100.4% | -32.6% | ||
| Q2 24 | -47.2% | -58.8% | ||
| Q1 24 | 1265.5% | -204.5% |
| Q4 25 | — | $-0.22 | ||
| Q3 25 | $0.62 | $-0.96 | ||
| Q2 25 | $-4.27 | $-0.27 | ||
| Q1 25 | $-1.84 | $-0.39 | ||
| Q4 24 | — | $-0.38 | ||
| Q3 24 | $-3.02 | $-0.12 | ||
| Q2 24 | $-1.35 | $-0.21 | ||
| Q1 24 | $40.31 | $-0.60 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $20.4M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $3.1B | $-33.9M |
| Total Assets | $3.1B | $35.3M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $20.4M | ||
| Q3 25 | — | $22.7M | ||
| Q2 25 | — | $26.5M | ||
| Q1 25 | — | $13.0M | ||
| Q4 24 | — | $8.5M | ||
| Q3 24 | — | $11.3M | ||
| Q2 24 | — | $16.5M | ||
| Q1 24 | — | $4.0M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $0 | — | ||
| Q3 24 | $0 | — | ||
| Q2 24 | $0 | — | ||
| Q1 24 | — | — |
| Q4 25 | — | $-33.9M | ||
| Q3 25 | $3.1B | $-26.7M | ||
| Q2 25 | $452.5M | $-19.4M | ||
| Q1 25 | $2.1M | $-34.4M | ||
| Q4 24 | $2.1M | $-25.9M | ||
| Q3 24 | $2.0M | $-20.4M | ||
| Q2 24 | $2.8M | $-25.3M | ||
| Q1 24 | $2.9M | $-36.0M |
| Q4 25 | — | $35.3M | ||
| Q3 25 | $3.1B | $36.5M | ||
| Q2 25 | $453.9M | $41.3M | ||
| Q1 25 | $2.8M | $28.6M | ||
| Q4 24 | $2.6M | $24.0M | ||
| Q3 24 | $2.9M | $27.5M | ||
| Q2 24 | $3.8M | $32.4M | ||
| Q1 24 | $5.4M | $17.9M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.00× | — | ||
| Q3 24 | 0.00× | — | ||
| Q2 24 | 0.00× | — | ||
| Q1 24 | — | — |
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 | $-6.3M | $-2.5M |
| Free Cash FlowOCF − Capex | $-6.3M | $-2.5M |
| FCF MarginFCF / Revenue | -57.9% | -19.1% |
| Capex IntensityCapex / Revenue | 0.0% | 0.3% |
| Cash ConversionOCF / Net Profit | -0.06× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-19.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $-2.5M | ||
| Q3 25 | $-6.3M | $-3.7M | ||
| Q2 25 | $-1.6M | $-7.3M | ||
| Q1 25 | $-514.1K | $-4.5M | ||
| Q4 24 | $-22.8M | $-5.7M | ||
| Q3 24 | $-591.2K | $-10.8M | ||
| Q2 24 | $-1.7M | $-13.4M | ||
| Q1 24 | $-19.3M | $-10.9M |
| Q4 25 | — | $-2.5M | ||
| Q3 25 | $-6.3M | $-3.9M | ||
| Q2 25 | — | $-7.4M | ||
| Q1 25 | — | $-5.3M | ||
| Q4 24 | $-22.8M | $-5.8M | ||
| Q3 24 | — | $-11.0M | ||
| Q2 24 | — | $-13.5M | ||
| Q1 24 | $-19.3M | $-10.9M |
| Q4 25 | — | -19.1% | ||
| Q3 25 | -57.9% | -33.9% | ||
| Q2 25 | — | -66.1% | ||
| Q1 25 | — | -57.3% | ||
| Q4 24 | -2772.0% | -69.7% | ||
| Q3 24 | — | -149.9% | ||
| Q2 24 | — | -183.1% | ||
| Q1 24 | -1977.2% | -169.3% |
| Q4 25 | — | 0.3% | ||
| Q3 25 | 0.0% | 1.9% | ||
| Q2 25 | — | 0.8% | ||
| Q1 25 | — | 8.2% | ||
| Q4 24 | 0.2% | 0.6% | ||
| Q3 24 | 0.0% | 2.3% | ||
| Q2 24 | 0.0% | 0.8% | ||
| Q1 24 | 0.2% | 1.0% |
| Q4 25 | — | — | ||
| Q3 25 | -0.06× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | -1.56× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
SBET
| ETH Staking Segmet | $10.3M | 95% |
| Other | $569.8K | 5% |
TLSI
Segment breakdown not available.
