SHARPE
Reported results
- GAAP total revenue was $206 million, an increase of 19% compared to the third quarter of 2025.
- GAAP gross margin was 74.9%, an increase of 64 basis points compared to the third quarter of 2025.
- GAAP net income was $16 million or 7.8% of total revenue, compared to a GAAP net loss of $(54) million in the third quarter of 2025.
- GAAP basic net income per share was $0.13 and GAAP diluted net loss per share was $(0.04) for the third quarter of 2026.
- Non-GAAP Adjusted EBITDA was $17.0 million or 8.3% of total revenue, compared to $9.3 million in the third quarter of 2025.
- Non-GAAP basic and diluted net income attributable to common stockholders per share was $0.02, compared to $(0.04) in the prior year period.
Guidance
- Q4 2026 GMV: $720 - $735 million
- Q4 2026 Total Revenue: $218 - $222 million
- Q4 2026 Non-GAAP Adjusted EBITDA: $27.5 - $29.0 million
- Full Year 2026 GMV: $2.585 - $2.600 billion
- Full Year 2026 Total Revenue: $806 - $810 million
- Full Year 2026 Non-GAAP Adjusted EBITDA: $71.1 - $72.6 million
Notes
Third Quarter 2026 Net Income includes a $21.2 million non-cash adjustment as a result of the change in fair value of warrant liability.
Price and volatility reaction
The stock moved +5.4% on the print. No front-expiry chain was on file, so there is no straddle expected move. 30-day ATM implied volatility moved -4.6 vol points across the event (constant-maturity series — not the front-week crush).
| Measure | Value | Basis |
|---|---|---|
| Close before release | 11.35 | 2026-10-29 |
| Close after release | 11.96 | 2026-10-30 |
| Realised move | +5.4% | close to close |
| 30d ATM IV change | -4.6 vol pts | constant-maturity series, not the front expiry |
Source
The figures above come from the earnings release the company filed with the SEC on 2026-10-29 (8-K, Item 2.02). Read the original filing on sec.gov.