SharpLink Gaming has released its FY2023 results， for the period ending 31 December 2023.

The revenue from continuing operations totalled $4.95m， an increase of 42% when compared to the results from the year prior.

As for the individual vertices， the international segment of the affiliate marketing services increased 22% up to $4.2m.

Meanwhile， the revenue from the US segment of the affiliate marketing services rose 1112%， from $62，250 the year before to $754，446 in 2023.

The gross profit from continuing operations increased 17% to $1.5m.

However， SharpLink Gaming emphasised that the rising costs of marketing caused the gross profit margin to fall to 31% from 38%.

This is particularly regarding search engine optimisation (SEO) and programmatic advertising campaigns used to drive traffic to direct-to-player sites in the US.

The net loss at the company fell by 20%， down to $11.4m in the past year.

Rob Phythian，Online Casino Games SharpLink Chairman and CEO said: “With the completion of the sale of our free-to-play sports games development and fantasy sports businesses in January 2024， followed shortly thereafter by the completion of our domestication merger in February 2024， SharpLink is now in a much better financial position and free to concentrate on growth opportunities that will allow us to make progress towards our long-term goal of creating enduring shareholder value.”

Since the beginning of 2024， SharpLink sold all of the issued and outstanding shares of common stock and membership interests in a sale to RSPorts Interactive in a $22.5m all-cash equity sale.

The company used the proceeds of this sale to retire about $19.4m in outstanding debt， and at the time of writing， SharpLink Gaming announced it is free of all interest-bearing debt.

That's not all， either.

At the start of the year， SharpLink Gaming completed a domestic merger and made several appointments to its board of directors.