Content Detail

• Content META

  Title	Hyperion DeFi Reports 1Q 2026 Financial Results with Record Net Income and Raises Guidance for Full Year 2026
  ID	31328807
  External ID	b266c6576b01378c0eb708f4d2f735de
  Author
  Published Date	May 14, 2026, 6:24 a.m.
  Summary	Company Reports Record $8.8M Net Income and $19.5M Adjusted EBITDA(8)
  Tags
  URL	https://www.manilatimes.net/2026/05/14/tmt-newswire/globenewswire/hyperion-defi-reports-1q-2026-financial-results-with-record-net-income-and-raises-guidance-for-full-year-2026/2343793
  Sentiment	Negative: 0.02014    Neutral: 0.89480    Positive: 0.08506
  Relevance	0.05000

• Content Details

  Content ID	38276153
  Key	7441ad89-2780-45c3-b56c-021cd11e1af3
  Content	Company Reports Record $8.8M Net Income and $19.5M Adjusted EBITDA(8) Advertisement Treasury Exceeds 2.00M HYPE, 1.92M KNTQ, & 10.00M HPL Tokens as of May 11(14) HYPD's Unique "Triple-Dip' HYPE Deployment Generated >3x Base Staking Income in Q1 Company Raises Adjusted Gross Profit(1) 2026 FY Guidance by ~20% DALLAS, May 14, 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 first quarter ending March 31, 2026. Get the latest news delivered to your inbox Sign up for The Manila Times newsletters By signing up with an email address, I acknowledge that I have read and agree to the Terms of Service and Privacy Policy "We are pleased to report continued scaling of our DeFi operating businesses, accretive balance sheet growth, and prudent cost management,' said Hyunsu Jung, CEO of Hyperion DeFi. Mr. Jung continued, "The opportunities to build on Hyperliquid are immense and expanding every day. More products and institutions are moving on-chain, and we continue to position ourselves as the premier institutional gateway to DeFi innovation. In light of our continued momentum, today we are increasing our guidance for our DeFi operating segments for full-year 2026, and we continue to anticipate achieving break-even cash flows by the end of the year.' Q3'25, Q4'25, and Q1'26 Summary GAAP and Non-GAAP Financial Measures Advertisement (Figures in $) Q3 2025 Q4 2025 Q1 2026 GAAP Gross Profit 302,506 192,987 244,271 Non-GAAP Adjusted Gross Profit(1) 439,386 820,997 959,568 GAAP HYPE Digital Assets 37,954,590 16,233,941 25,286,164 Non-GAAP Gross HYPE Holdings(4) 77,751,604 47,837,901 71,037,227 Non-GAAP Net Asset Value(9) 74,545,583 44,154,737 69,873,504 GAAP Selling, General and Administrative Expense 2,594,130 4,530,542 4,493,604 Non-GAAP Operating Expenses Excluding Stock-Based Compensation(5) 4,315,016 3,007,135 2,975,883 GAAP Net Operating (Income) Expenses (4,125,685 ) 39,958,264 (8,487,848 ) Non-GAAP Treasury Gains (Losses)(6) 11,868,872 (36,783,228 ) 21,451,862 GAAP Total Other Income (Expense), Net 2,197,391 (288 ) 108,431 Non-GAAP Adjusted Other Income (Expense)(7) (42,240 ) 48,717 52,585 GAAP Net Income (Loss) 6,625,582 (39,765,565 ) 8,840,550 Non-GAAP Adjusted EBITDA(8) 7,951,003 (38,920,649 ) 19,488,132 All figures in this press release are not audited. Throughout this document, totals may not sum due to rounding. Calculations are based on unrounded results. 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. Adjusted Gross Profit(1) Guidance Q3'25 Q4'25 FY'25 Q1'26 Q2'26 Q3'26 Q4'26 FY'26 Guidance Advertisement 2026 Guidance vs. 2025 Actual Initial Guidance (Q4'25 A) $0.44M $0.82M $1.28M - - - - $4M - $6M ~ 4x Current Guidance (Q1'26 A) $0.44M $0.82M $1.28M $0.96M - - - $5M - $7M ~ 5x Adjusted Gross Profit(1)(in $ thousands) Q3'25 Q4'25 Q1'26 QoQ Growth Ecosystem Rewards - 285 150 -47% DeFi Monetization 102 245 140% Yield Enhancement 78 79 211 165% Validator Commissions 21 49 40 -17% Staking Yield 340 305 313 2% Adjusted Gross Profit(1) 439 821 960 17% Multiple vs. Staking Yield 1.3x 2.7x 3.1x % Earned in Cash* 18% 22% 48% HYPE Earned in Staking & Validating(2) 7,895 10,076 11,458 14% Effective Average HYPE Price In-Period(3) 45.76 35.12 30.82 *The portion of Adjusted Gross Profit(1) earned in cash, cash equivalents, and USDH(16) Please see "Footnotes' and "Non-GAAP Measures of Financial Performance' sections for detailed definitions and reconciliations to the nearest GAAP Metric. Advertisement HYPE Treasury Over Time 09/30/25 12/31/25 3/31/26 5/11/26(14) Gross HYPE Tokens(2) 1.72 M 1.88 M 1.94 M 2.00 M HYPE Token Price $45.2 $25.4 $36.6 $42.2 Gross HYPE Holdings(4) $77.8 M $47.8 M $71.0 M $84.5 M Cash, Cash Equivalents, and USDH(16) $8.2 M $6.5 M $9.1 M $16.0 M Please see "Footnotes' and "Non-GAAP Measures of Financial Performance' sections for detailed definitions and reconciliations to the nearest GAAP Metric. HYPD Investment Thesis Advertisement Hyperion DeFi has executed three full quarters under our new DeFi strategy, with two sequential increases in our operating business and two sequential declines in our core costs. Our continued track record of outperformance versus peers through Q1'26 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 ~3.1x base staking income in Q1'26 versus ~2.7x in Q4'25, is possible because of our management's unique ability to build on the Hyperliquid Blockchain. Even as the Effective Average HYPE Price In-Period(3) declined, we achieved +17% quarter-over-quarter growth in Adjusted Gross Profit(1), driven by ramping DeFi Monetization and Yield Enhancement strategies (each at >100% Q-o-Q growth). The portion of our Adjusted Gross Profit(1) earned in cash, cash equivalents, and USDH(16) increased from 22% in Q4'25 to 48% in Q1'26. Beyond our growing HYPE treasury, our Hyperliquid ecosystem token holdings (such as KNTQ and HPL) uniquely position HYPD for upside in early-stage builders. We operate with strong earnings leverage and a low cost base built for scale. We anticipate Operating Expenses Excluding Stock-Based Compensation(5) to further decline below a quarterly run-rate of $3.0 million beginning in Q2'26 driven by the exit of legacy biotech operations. We anticipate $5M-$7M Adjusted Gross Profit(1) in 2026, ~5x our 2025 FY results, which represents a +$1M increase in range from our Q4'25 earnings release. Advertisement Our businesses are designed to simultaneously promote and monetize adoption of the Hyperliquid blockchain. In Q1, our unique ability to "triple-dip' our HYPE tokens across multiple deployment strategies generated ~3.1x 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 Q4'25 and Q1'26 Advertisement 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 +17% quarter-over-quarter from $821 thousand in Q4'25 to $960 thousand in Q1'26. Below is a summary of all five of our operating business activities included within Adjusted Gross Profit(1) in these periods: Staking Yield : We stake our HYPE to our Validator and earn rewards. In Q1'26, the Company earned 10,143 HYPE tokens from staking, up 16% quarter-over-quarter versus 8,437 in Q4'25. On a dollar basis, our HYPE earned from staking generated $313 thousand Adjusted Gross Profit(1) in Q1'26 versus $305 thousand in Q4'25 (+2% quarter-over-quarter), while the Effective Average HYPE Price In-Period(3) declined -12% from 35.12 in Q4'25 to 30.82 in Q1'26. Validator Commissions : The Company operates its Validator under a Joint Validator Operators Agreement (together with Kinetiq and Pier Two) and earns commissions on rewards delivered to third-party tokens delegated to the Validator. In Q1'26, the Company earned 1,315 HYPE tokens as validator commissions, a modest decline of -3% quarter-over-quarter versus 1,362 in Q4'25. On a dollar basis, our HYPE earned from validator commissions generated $40 thousand Adjusted Gross Profit(1) in Q1'26 versus $49 thousand in Q4'25 (-17% quarter-over-quarter), given the Effective Average HYPE Price In-Period(3) declined -12% from 35.12 in Q4'25 to 30.82 in Q1'26. 10.2 million HYPE tokens were delegated to our Validator as of April 30, 2026, and we are the Top 6 Hyperliquid Validator after the Hyper Foundation. Yield Enhancement : The Company pursues accretive strategies to enhance yield earned on its tokens. Yield Enhancement activities generated $211 thousand Adjusted Gross Profit(1) in Q1'26 versus $79 thousand in Q4'25 (+165% quarter-over-quarter). Q1'26 and Q4'25 Yield Enhancement activities included multiple HYPE volatility strategies OTC and on-chain. In Q1'26, we began executing within our Institutional Volatility Income Vault, in partnership with the Rysk protocol, further optimizing our Yield Enhancement capabilities while building the infrastructure to accommodate third-party execution within Rysk Premium in the future. DeFi Monetization : The Company supports and monetizes Hyperliquid DeFi activity with sustainable, scalable practices. DeFi Monetization activity generated $245 thousand Adjusted Gross Profit(1) in Q1'26 versus $102 thousand in Q4'25 (+140% quarter-over-quarter). DeFi Monetization includes our Temporary HYPE Asset Use Agreements ("HAUS') and protocol partnerships generating third-party fees. In Q1'26, we entered into a HAUS agreement with Silhouette. We provided the use of HYPE tokens to the Silhouette aggregated trading account, allowing Silhouette to pass along reduced trading fees to its customers on the Silhouette platform, and entitling us to earn a portion of those fee savings as income, plus 100% of staking rewards. Ecosystem Rewards : Through our active participation in the Hyperliquid DeFi ecosystem, the Company positions itself for the receipt of future potential token airdrops, protocol incentives, and other rewards that may become available periodically. Ecosystem Rewards generated $150 thousand Adjusted Gross Profit(1) in Q1'26, versus $285 thousand in Q4'25. We expect the quarter-over-quarter change in Ecosystem Rewards to be volatile given the unexpected timing of airdrops, token generation events, and other rewards activity. In November 2025, we received 1,918,478 KNTQ tokens in Kinetiq's airdrop token generation event. In March 2026, we cumulatively received 10,000,000 HPL tokens from HyperLend in connection with multiple partnership and revenue-sharing agreements in connection with on-chain credit pools. Silhouette is contractually obligated to award HYPD at least 1% of future token supply or equity, including affiliates and related parties. Given our partnerships with other Hyperliquid ecosystem participants such as Rysk, and given that we are continuing to accrue additional Kinetiq points, we anticipate additional ecosystem rewards in 2026. Non-GAAP Income Summary (Figures in $) Q3 2025 Q4 2025 Q1 2026 Adjusted Gross Profit(1) 439,386 820,997 959,568 Operating Expenses Excluding Stock-Based Compensation(5) 4,315,016 3,007,135 2,975,883 Treasury Gains (Losses)(6) 11,868,872 (36,783,228 ) 21,451,862 Adjusted Other Income (Expense)(7) (42,240 ) 48,717 52,585 Adjusted EBITDA(8) 7,951,003 (38,920,649 ) 19,488,132 Please see "Footnotes' and "Non-GAAP Measures of Financial Performance' sections for detailed definitions and reconciliations to the nearest GAAP Metric. Q4'25 and Q1'26 Expense Summary Results Operating Expenses Excluding Stock-Based Compensation(5) declined (1%) quarter-over-quarter from $3.00 million in Q4'25 to $2.98 million in Q1'26. Research and development expenses were $287 thousand in Q1'26 versus $189 thousand in Q4'25. Selling, general, and administrative expenses excluding stock-based compensation decreased (5%) quarter-over-quarter, from $2.8 million in Q4'25 to $2.7 million in Q1'26. We expect to wind down legacy biotech operations by the end of Q2'26. Gross HYPE Tokens(2) increased from 1.88 million in Q4'25 to 1.94 million in Q1'26. Our HYPE treasury has grown to over 2.00 million tokens as of May 11, 2026(14). Gross HYPE Holdings(4) increased from $47.8 million as of Q4'25 to $71.0 million as of Q1'26 as the price of HYPE increased from $25.4 to $36.6 in Q1'26. Net Asset Value(9) increased from $44.2 million as of Q4'25 to $69.9 million as of Q1'26. Treasury Gains (Losses)(6) was $21.5 million in Q1'26 versus ($36.8 million) in Q4'25. Q1'26 Net Income of $8.8 million compares to Q4'25 Net Loss of ($39.8 million). Q1'26 Adjusted EBITDA(8) of $19.5 million compares to Q4'25 Adjusted EBITDA(8) of ($38.9 million) The primary reconciliation of Net Income to Adjusted EBITDA(8) is our HYPE Liquid Staking Tokens (LSTs), for which the GAAP carrying value is the low-water-mark price of HYPE, as detailed further in our GAAP to Non-GAAP reconciliations section at the end of this release. Q1'26 Net Income Attributable to Common Shareholders of $3.3 million compares to Q4'25 Net Loss Attributable to Common Shareholders of ($40.6 million). Q1'26 Net Income per Common Share of $0.30 on a basic basis (10,610,679 weighted average shares) and $0.26 on a diluted basis (12,686,142 weighted average shares), compares to Q4'25 Net Loss per Share of ($6.29) on 6,452,733 on weighted average shares outstanding. As of May 11, 2026, there are 15,025,498 outstanding shares of common stock. Operating Activities used $4.2 million net cash in Q1'26 versus $4.1 million in Q4'25. Q1'26 Operating Cash Flow included $1.5 million net increase in the levels of operating assets (including acquiring additional USDH stablecoin(16)), without which, Net Cash Used in Operating Activities would have been $2.7 million. Our cash, cash equivalents, and USDH(16) totaled $9.1 million as of Q1'26 versus $6.5 million as of Q4'25. As of May 11, 2026, our cash, cash equivalents, and USDH(16) totaled approximately $16.0 million(14). Net Cash Used in Investing Activities to purchase HYPE was $1.5 million in Q1'26 versus $6.3 million in Q4'25. QTD Q2'26 as of May 11, 2026, we have purchased $2.5 million in HYPE. Net Cash Provided by Financing Activities was $6.6 million in Q1'26 (primarily from our "at-the-market' offering) versus $9.4 million in Q4'25. Through May 11, 2026, QTD Q2'26 we have raised approximately $1.9 million net proceeds from the sale of 492,783 shares via our "at-the-market' offering(14). On May 7, 2026, we closed a public offering of 2,777,778 common shares and received approximately $8.7 million in net proceeds(14). Hyperion DeFi, Inc. will hold its earnings conference call and webcast for the first quarter ended March 31, 2026 on Thursday, May 14, 2026 at 8:00 a.m. Eastern Time. 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. A webcast of the call will be archived and available through May 28, 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 May 2026, more than 44 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. 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 Hyperion DeFi, Inc. Condensed Balance Sheets (unaudited) March 31, December 31, 2026 2025 (unaudited) Assets Current Assets Cash and cash equivalents $ 7,380,922 $ 6,443,467 Prepaid expenses and other current assets 1,423,025 802,342 Total Current Assets 8,803,947 7,245,809 Digital assets 25,422,127 16,345,347 Digital assets receivable, net 10,376,105 6,935,131 Digital intangible assets 16,033,758 20,591,555 Digital intangible assets receivable, net 8,907,419 - Operating lease right-of-use asset 340,407
  Content Reference URL	None

• Publisher

  Publisher Name	Manila Times (#3842)
  Publisher URL	https://www.manilatimes.net
  Description	None
  Trust Flow Score	24
  Citation Flow Score	33

• Data Source

  Data Source Name	NewsCatcher (#303)
  Data Source Type	news
  Data Source URL	https://www.newscatcherapi.com/
  Description
  Weight	1