SharpLink Gaming Ltd. Q4 FY2022 Earnings Call

· Earnings call transcript and AI-powered summary

  • Revenue Growth: Total revenue increased 177% year-over-year to $7.29 million in FY2022, compared to $2.63 million in FY2021, driven by M&A activity (FourCubed and SportsHub acquisitions).
  • Business Unit Performance:
    • Sports Gaming Client Services: $2.49 million (34% of revenue); stable YoY from $2.42 million (92% of 2021 sales).
    • Fantasy Sports Group: $951K (13% of revenue in just 10 days after Dec 22nd acquisition of SportsHub).
    • Affiliate Marketing International (FourCubed): $3.43 million (47% of revenue); newly contributing unit (zero in 2021).
    • Affiliate Marketing U.S.: $415K (5.7% of revenue); launched November 2022.
  • Gross Profit: $1.13 million in FY2022, a 478% improvement from prior year’s negative $300K. Gross margin increased to 16% from -11% YoY due to product mix changes and acquisitions.
  • Operating Expenses: Down 50% to $16.61 million vs. $33.2 million in 2021.
    • SG&A expenses: Up 21% YoY to $11.8 million (from $9.89 million).
    • Impairments and non-cash charges: $4.73 million in 2022 vs. $23.3 million in 2021.

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Operator: Good afternoon, everyone, and thank you for participating in SharpLink's Webcast. Joining us today from SharpLink Gaming are Rob Phythian, Co-Founder and CEO; Bob DeLucia, the company's Chief Financial Officer; and Dodi Handy, Director of Communications. Before I turn the floor over to them, I remind you that during today's call, statements that are not historical facts, including any projections, statements regarding future events or future financial performance or statements of intent or belief are forward-looking statements and are covered by the Safe Harbor disclaimers contained in the company's public filings with the SEC. Actual outcomes and results may differ materially from what is expressed in or implied by these forward-looking statements. With that said, I would now like to introduce Dodi Handy. Dodi, the floor is yours. Dodi Handy: Thank you, Kat, and thanks to everyone who is listening in on the webcast. On behalf of everyone at SharpLink, we sincerely appreciate your interest in our company and hope we succeed today at providing you with a meaningful insight into our recently reported financial performance for the year ended December 31st, 2022, and hopefully to provide you with some perspective on what exciting things may be ahead for us is 2023 unfolds. So, let's get this started. Hi, Rob, are you with us? Rob Phythian: Hey, Dodi. Yeah. I'm here and good afternoon to all of you on the webcast. We're delighted you can join us. Dodi, why don't we begi

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