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Hyperion DeFi (HYPD) investor relations material
Hyperion DeFi Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved record Q3 2025 net income of $6.6 million, marking a turnaround from a $7.9 million loss in Q3 2024, driven by realized and unrealized gains on HYPE digital assets and liability extinguishment.
Completed a strategic transformation from biotech/ophthalmic technology to a digital asset treasury model focused on the Hyperliquid ecosystem, launching new business lines including staking, validator operations, and DeFi monetization.
Established a unique position as the first U.S. public company building a strategic HYPE token treasury, actively participating in Hyperliquid's growth and governance.
Launched innovative revenue-generating services, including the HAUS platform, HiHYPE liquid staking token, and validator partnerships, and appointed experienced financial leadership.
Raised significant capital through $50 million PIPE, $21.8–$30 million ATM offerings, and private placements, supporting HYPE token purchases and business expansion.
Financial highlights
Q3 2025 revenue was $302,506, all from staking rewards and validator commissions; Adjusted Revenue (including unrealized staking rewards) reached $361,277.
Net income for Q3 2025 was $6.6 million, with net income per share at $0.26 basic and $0.05 diluted.
Adjusted EBITDA was $8.0 million, reflecting strong operational performance and adjustments for non-recurring items.
Gross HYPE holdings at quarter-end were $77.8 million, representing 1.7 million tokens at a HYPE price of $45.19.
Net asset value stood at $74.5 million as of September 30, 2025.
Outlook and guidance
Q4 2025 Adjusted Revenue is projected at $475,000 to $515,000, representing 31% to 43% quarter-on-quarter growth.
Operating cash flow is expected to turn positive in 2026, eliminating the need to raise funds or sell HYPE tokens to fund operations.
Management expects existing resources to fund operations for at least the next twelve months.
Revenue growth is anticipated to accelerate into 2026, with all five digital asset business strategies expected to scale.
Ongoing reinvestment of revenues into HYPE to drive institutional adoption and platform expansion.
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