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  Title	Hyperion DeFi Reports 4Q and FY 2025 Financial Results with Quarter-over-Quarter Growth of +64% Revenue and +87% Adjusted Gross Profit
  ID	30914403
  External ID	4725fae8626c86af6133d0a720789a6f
  Author	Hyperion Defi
  Published Date	March 26, 2026, 6:02 a.m.
  Summary	Five Diversified, Ramping DeFi Business Lines Delivered Growth Exceeding Q4 Guidance Treasury Exceeds 1.93M HYPE, 1.92M KNTQ, & 1.00M HPL Tokens as ofMarch 23(14)
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  URL	https://apnews.com/press-release/globenewswire-mobile/hyperion-defi-reports-4q-and-fy-2025-financial-results-with-quarter-over-quarter-growth-of-64-revenue-and-87-adjusted-gross-profit-4541ab290899b9c
  Sentiment	Negative: 0.00940    Neutral: 0.30955    Positive: 0.68105
  Relevance	0.05462

• Content Details

  Content ID	37982166
  Key	82ccdeba-9ef7-4742-988e-47a5f9a280ae
  Content	Five Diversified, Ramping DeFi Business Lines Delivered Growth Exceeding Q4 Guidance Treasury Exceeds 1.93M HYPE, 1.92M KNTQ, & 1.00M HPL Tokens as ofMarch 23(14) HYPD's Unique 'Triple-Dip' HYPE Deployment Generated ~3x Base Staking Income in Q4 Announces Executed LOI to Monetize the Optejet, With Potential Closing in Q2'26 LAGUNA HILLS, Calif., March 26, 2026 (GLOBE NEWSWIRE) -- Hyperion DeFi, Inc. (NASDAQ: HYPD) ('Hyperion DeFi' or the 'Company'), the first U.S. publicly listed DeFi company building on Hyperliquid, today reported results for the fourth quarter and full year ending December 31, 2025. 'Against a backdrop of significant market volatility, we are pleased to report rapid growth in our DeFi operating businesses which exceeded our guidance in the fourth quarter,' said Hyunsu Jung, CEO of Hyperion DeFi. Mr. Jung continued, 'Today, we are reporting detail on each business we have built in our first six months under our new DeFi strategy. We continue to make progress on our Company's corporate transformation as a premier institutional gateway to DeFi innovation, and we expect each business to continue to scale through 2026 and beyond. Hyperion DeFi is building for the future of on-chain finance. This is more than just HYPE.' Q3'25 and Q4'25 Summary GAAP and Non-GAAP Financial Measures This press release includes certain non-GAAP financial measures (including on a forward-looking basis) such as Adjusted Gross Profit, Gross HYPE Holdings, Net Asset Value, Operating Expenses Excluding Stock-Based Compensation, Treasury Gains (Losses), Adjusted Other Income (Expense), and Adjusted EBITDA. Please see 'Footnotes' and 'Non-GAAP Measures of Financial Performance' for reconciliations of non-GAAP financial measures to the most directly comparable GAAP financial measures and important additional information. HYPD Investment Thesis We believe our Q4'25 results demonstrate that we have transcended the strategy and capabilities of a simple buy-and-hold 'DAT' (digital asset treasury company), and instead, we are differentiated as the first U.S. publicly listed DeFi company building on the Hyperliquid blockchain. We are unique among digital asset treasuries with five diversified operating business lines.Our 'Triple-Dip' HYPE deployment strategy, by which we earned approximately ~3x base staking income in Q4'25, is possible because of our management's unique ability to build on the Hyperliquid Blockchain.We achieved +87% quarter-over-quarter growth in Adjusted Gross Profit(1), driven by new DeFi Monetization and Ecosystem Rewards strategies which were just beginning to ramp in Q4'25 (each at >1,000% Q-o-Q growth).We operate with strong earnings leverage and a low cost base built for scale, and achieved (30%) quarter-over-quarter decline in Operating Expenses Excluding Stock-Based Compensation(5). We anticipate $4M-$6M Adjusted Gross Profit(1) in 2026, ~4x our 2025 FY results. Our businesses are designed to simultaneously promote and monetize adoption of the Hyperliquid blockchain. In Q4, our unique ability to 'triple-dip' our HYPE tokens across multiple deployment strategies generated ~3x the income would have otherwise generated from staking in isolation. Our 'HYPD Triple-Dip' strategy is: 1) Stake our HYPE 2) Deploy the staked HYPE into another business activity – our Validator, Yield Enhancement, or DeFi Monetization, and 3) Position ourselves to receive Ecosystem Rewards Adjusted Gross Profit(1) in Q3'25 and Q4'25 Adjusted Gross Profit(1), a Non-GAAP Metric, aims to capture all of Hyperion DeFi's value-add operating business activities beyond simply buying and holding HYPE tokens. In total, Adjusted Gross Profit(1) increased +87% quarter-over-quarter from $439 thousand in Q3'25 to $821 thousand in Q4'25. Below is a summary of all six of our operating business activities included within Adjusted Gross Profit(1): Q3'25 and Q4'25 Expense Summary Results Operating Expenses Excluding Stock-Based Compensation(5) declined (30%) quarter-over-quarter from $4.3 million in Q3'25 to $3.0 million in Q4'25.Research and development expenses declined (49%) quarter-over-quarter from $374 thousand in Q3'25 to $189 thousand in Q4'25.Selling, general, and administrative expenses excluding stock-based compensation decreased (28%) quarter-over-quarter, from $3.9 million in Q3'25 to $2.3 million in Q4'25. Q3'25 and Q4'25 Treasury Summary Gross HYPE Tokens(2) increased from 1.72 million as of Q3'25 to 1.88 million as of Q4'25. Our HYPE treasury position has grown to over 1.93 million tokens as of March 23, 2026(14).Gross HYPE Holdings(4) decreased from $77.8 million as of Q3'25 to $47.8 million as of Q4'25 as the price of HYPE declined from $45.19 to $25.43 in Q4'25.Net Asset Value(9) decreased from $74.5 million as of Q3'25 to $44.2 million as of Q4'25.Treasury Gains (Losses)(6) was ($36.8 million) in Q4'25 versus $11.9 million in Q3'25. Q3'25 and Q4'25 Net Income (Loss) and Adjusted EBITDA(8) Q4'25 Net Loss of ($39.8 million) compares to Q3'25 Net Income of $6.6 million.Q4'25 Adjusted EBITDA of ($38.9 million) compares to Q3'25 Adjusted EBITDA of $8.0 million.Q4'25 Net Loss Attributable to Common Shareholders of ($40.6 million) compares to Q3'25 Net Income Attributable to Participating Securities of $5.8 million.Q4'25 Net Loss per Share was ($6.29) on 6,452,733 on weighted average shares outstanding; compared to Q3'25 Net Income per Common Share of $0.26 on a basic basis (6,027,713 weighted average shares) and $0.05 on a diluted basis (28,951,915 weighted average shares) FY'25 Cash Flows Summary Net Cash Used in Operating Activities declined from $30.1 million in FY'24 to $14.8 million in FY'25 (of which $4.1 million was in Q4'25). Our cash, cash equivalents, and USDH exceed $9.2 million as of March 23, 2026(14).Net Cash Used in Investing Activities increased from $0.2 million in FY'24 (purchase of property and equipment) to $72.0 million in FY'25 (purchase of digital assets, of which $6.3 million was in Q4'25).Net Cash Provided by Financing Activities increased from $17.6 million in FY'24 to $91.0 million in FY'25. Net cash provided by financing activities for the year ended December 31, 2025 totaled approximately $91.0 million, which was primarily attributable to $49.4 million of net proceeds from the sale of Series A Preferred Stock and warrants in the Private Placement, $39.4 million of net proceeds from the sale of common stock in our 'at-the-market' offering (of which $9.4 million was in Q4'25) and $4.8 million of net proceeds from the exercise of stock warrants partially offset by $1.5 million from the repayment of notes payable and $0.9 million from payment of preferred dividends.Net cash provided by financing activities for the year ended December 31, 2024 totaled approximately $17.6 million, which was primarily attributable to $17.0 million of net proceeds from the sale of common stock and warrants in equity offerings and, $6.1 million of net proceeds from the sale of common stock in our 'at-the-market' offering, partially offset by $5.5 million from the repayment of notes payable. FY'25 Summary Financial Results Revenue increased substantially from $57 thousand in FY'24 to $0.8 million in FY'25.Research and development expenses declined (87%) year-over-year from $14.5 million in FY'24 to $1.9 million in FY'25.Selling, general, and administrative expenses increased 20% year-over-year from $14.3 million in FY'24 to $17.2 million in FY'25.Net Loss declined (9%) year-over-year from ($49.8 million) in FY'24 to ($45.3 million) in FY'25.Net Loss Attributable to Common Stockholders declined (6%) year-over-year from ($49.8 million) in FY'24 to ($47.0 million) in FY'25.Net Loss per Share – Basic and Diluted of ($59.81) in FY'24 compares to ($9.40) in FY'25, on 832,997 weighted average shares (basic and diluted) in FY'24 versus 5,000,331 in FY'25. Conference Call & Webcast Hyperion DeFi, Inc. will host a conference call to discuss fourth quarter and full year 2025 results at 8:00 a.m. Eastern Time on March 26, 2026. A slide presentation that includes supplemental financial information and reconciliations of certain non-GAAP measures to their most directly comparable GAAP measures can be accessed through the Company's Investor Relations website at https://ir.hyperiondefi.com/events-and-presentations along with information for the conference call. Participants may also submit questions in advance of the call via email to [email protected]. A webcast of the call will be archived and available through April 6, 2026 at 11:59 p.m. Eastern Time on the Company's website. Presentation All growth rates represent quarter-over-quarter comparisons, except as otherwise noted. All amounts in tables are presented in U.S. dollars, rounded to the nearest dollar, except as otherwise noted. As a result, certain amounts and rates may not sum or recalculate using the rounded dollar amounts provided. All numbers in this press release are not audited. About the Hyperliquid Platform and the HYPE Token Hyperliquid is a next-generation layer one blockchain optimized for high frequency, transparent trading. The blockchain includes fully on-chain perpetual futures and spot order books, with every order, cancel, trade, and liquidation occurring within 70 millisecond block times. It also hosts the HyperEVM, a general-purpose smart contract platform that supports permissionless decentralized financial applications akin to Ethereum. HYPE is the native token of Hyperliquid. Staked HYPE provides utility for users via reduced trading fees and increased referral bonuses. As of March 2026, more than 41 million HYPE have been autonomously purchased and sequestered by the blockchain with the trading fees generated on the network's central limit order books. About Hyperion DeFi, Inc. Hyperion DeFi, Inc. is the first U.S. publicly listed DeFi company building on Hyperliquid. The Company provides investors with streamlined access to the Hyperliquid ecosystem, one of the fastest growing, highest revenue-generating blockchains in the world. Shareholders benefit from compounding exposure to HYPE, both from its native staking yield and additional revenues generated from its unique on-chain utility. Hyperion DeFi is also developing its proprietary Optejet User Filled Device that is designed to work with a variety of topical ophthalmic liquids, including artificial tears and lens rewetting products. The Optejet is especially useful in chronic front-of-the-eye diseases due to its ease of use, enhanced safety and tolerability, and potential for superior compliance versus standard eye drops. Together, these benefits may result in higher treatment compliance and better outcomes for patients and providers. For more information, please visit Hyperiondefi.com or follow @hyperiondefi on X. Forward Looking Statements; Disclaimer Except for historical information, all the statements, expectations and assumptions contained in this press release are forward-looking statements. Forward-looking statements include, but are not limited to, statements that express our intentions, beliefs, expectations, strategies, predictions or any other statements, our future activities or other future events or conditions, including the viability of, and risks associated with, our cryptocurrency treasury strategy, the growth and revenue potential of the Hyperliquid ecosystem and the growth prospects of the Company. These statements are based on current expectations, estimates and projections about our business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and in some cases are likely to, differ materially from what is expressed or forecasted in the forward-looking statements due to numerous factors discussed from time to time in documents which we file with the U.S. Securities and Exchange Commission. Any forward-looking statements speak only as of the date on which they are made, and except as may be required under applicable securities laws, Hyperion DeFi does not undertake any obligation to update any forward-looking statements. Certain information contained in this press release relates to or is based on studies, publications, surveys and other data obtained from third-party sources and Hyperion DeFi's own internal estimates and research. While Hyperion DeFi believes these third-party studies, publications, surveys and other data to be reliable as of the date of this press release, it has not independently verified, and makes no representation as to the adequacy, fairness, accuracy or completeness of, any information obtained from third-party sources. In addition, no independent source has evaluated the reasonableness or accuracy of Hyperion DeFi's internal estimates or research and no reliance should be made on any information or statements made in this press release relating to or based on such internal estimates and research. You should conduct your own investigation and analysis of Hyperion DeFi, its business, prospects, results of operations and financial condition. In furnishing this information, Hyperion DeFi does not undertake any obligation to provide you with access to any additional information (including forward-looking information and any projections contained herein) or to update or correct the information. Hyperion DeFi, Inc. Investor Contact: Jason Assad Hyperion DeFi, Inc. [email protected] (678) 570-6791 ____________________________________ [1] Includes gross proceeds of $6,234,402 less total issuance costs of $187,033. [2] Shares issued as partial consideration for License Agreement with Formosa Pharmaceuticals Inc. [3] Shares issued as partial consideration for reversion of License Agreement with Bausch & Lomb Ireland Limited. [4] Includes gross proceeds of $19,385,015, less total cash issuance costs of $2,373,693. [5] Offering includes modification of warrants and additional warrants in the July 2024 offering. [6] Non-cash warrant modification and additional warrants issuance costs related to one of the offerings are shown on a separate line item for clarity. [7] Includes gross proceeds of $50,000,000 less total issuance costs of $634,250. [8] Includes gross proceeds of $40,645,265 less total issuance costs of $1,287,461. [9] Partial exercise of the Armistice warrants. [10] Includes gross proceeds of $1,039,206 less total issuance costs of $116,456. Also note that incremental value and non-cash warrant modification and additional warrants issuance costs related to the warrant inducement entered into on January 16, 2025 offset to a zero balance. See Note 10 – Stockholders' Equity (Deficiency). Hyperion DeFi Non-GAAP Measures of Financial Performance and Supplemental Disclosures Note: See 'Footnotes' section for detailed explanations and definitions. Note: See 'Footnotes' section for detailed explanations and definitions. Note: See 'Footnotes' section for detailed explanations and definitions. *Non-current portion; does not subtract debt discount of $598,691 as of September 30, 2025 or $543,230 as of December 31, 2025. Footnotes Photos accompanying this announcement are available at https://www.globenewswire.com/NewsRoom/AttachmentNg/cba563eb-4952-4229-8844-bd018197e857 https://www.globenewswire.com/NewsRoom/AttachmentNg/d6a0d72c-5503-4a51-85a5-4d201c6f9674
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  Publisher URL	https://apnews.com
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  Trust Flow Score	55
  Citation Flow Score	70

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  Data Source Name	NewsCatcher (#303)
  Data Source Type	news
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