Hyperion DeFi, Inc. (NASDAQ: HYPD) Announces Robust Q4 and FY2025 Results with Strategic DeFi Growth

LAGUNA HILLS, Calif., March 26, 2026 – Hyperion DeFi, Inc., the first U.S. publicly listed decentralized finance (DeFi) company building on the Hyperliquid blockchain, has released its financial and business results for the fourth quarter and full year ended December 31, 2025. The company showcased strong operational execution, rapid growth across five DeFi business lines, and important developments that could significantly impact shareholder value.

Key Financial Highlights

• Q4 Revenue: \$496,229, +64% quarter-over-quarter.
• Q4 Adjusted Gross Profit (Non-GAAP): \$820,997, +87% quarter-over-quarter.
• FY25 Revenue: \$813,455, up substantially from \$57,336 in FY24.
• FY25 Adjusted Gross Profit: \$1.28 million; guidance for FY26 is \$4–6 million, ~4x growth expected.
• Operating Expenses Excluding Stock-Based Compensation: Declined 30% Q/Q to \$3.0 million in Q4.
• Net Loss: (\$45.3 million) for FY25, improved 9% year-over-year.

DeFi Business Model Transformation & Diversification

Under its new DeFi strategy, Hyperion DeFi has transitioned from a simple digital asset treasury model to a diversified DeFi business with five ramping business lines:

• Staking Yield: Earned 8,713 HYPE tokens from staking in Q4, up 17% quarter-over-quarter. Generated \$305k Adjusted Gross Profit.
• Validator Commissions: 11.8 million HYPE tokens delegated as of year-end, +43% Q/Q. Generated \$49k Adjusted Gross Profit, up 127% Q/Q.
• Yield Enhancement: Activities included covered call options, generating \$79k Adjusted Gross Profit in Q4. Partnership with Rysk for an Institutional Volatility Income Vault announced in Q1’26.
• DeFi Monetization: New strategies ramping, generated \$102k Adjusted Gross Profit in Q4 (from <\$1k in Q3). Includes asset use agreements and protocol partnerships. Trading volumes on Felix-partner markets exceeded \$2.8 billion as of March 23, 2026.
• Ecosystem Rewards: Received 1.92M KNTQ tokens from Kinetiq airdrop and 1.00M HPL tokens from Hyperlend. Generated \$285k Adjusted Gross Profit in Q4.

“Triple-Dip” HYPE Deployment Strategy

Hyperion DeFi’s unique “Triple-Dip” strategy enables the company to generate ~3x base staking income by:

1. Staking HYPE tokens
2. Deploying staked tokens into Validator, Yield Enhancement, or DeFi Monetization businesses
3. Positioning for Ecosystem Rewards (airdrops, incentives)

This approach has been a major driver of quarterly profit growth and distinguishes Hyperion from other digital asset treasury companies.

Key Treasury Metrics

• HYPE Holdings: 1.93 million tokens as of March 23, 2026.
• KNTQ Holdings: 1.92 million tokens.
• HPL Holdings: 1.00 million tokens.
• Cash, Cash Equivalents, USDH: \$9.2 million as of March 23, 2026.
• Gross HYPE Holdings (Non-GAAP): \$47.8 million at Q4’25.
• Net Asset Value (Non-GAAP): \$44.2 million at Q4’25.

Expense Management & Financing Activities

• Operating Expenses Excluding Stock-Based Compensation: Down 30% Q/Q (\$3.0M Q4).
• Research & Development: Down 49% Q/Q (\$189k Q4), down 87% Y/Y (\$1.9M FY25).
• Selling, General, Administrative Expenses: Excluding SBC, down 28% Q/Q (\$2.3M Q4).
• Net Cash Provided by Financing Activities: \$91.0 million for FY25, primarily from private placements and at-the-market offerings.

Life Sciences Segment and Potential Monetization

• Executed a non-binding Letter of Intent (LOI) to monetize the Optejet User Filled Device (UFD), the last remaining product in its life sciences segment. This transaction could close in Q2’26 and may represent a significant shift in the company’s asset base and future focus.

Guidance and Forward-Looking Outlook

• FY26 Adjusted Gross Profit Guidance: \$4–6 million (~4x growth vs. FY25).
• Management expects continued scaling across all business lines in 2026 and beyond, with further ecosystem rewards anticipated through ongoing partnerships.

Risks and Potential Price-Sensitive Developments

• Rapid scaling of DeFi business lines and diversification may impact future earnings and share valuation.
• Execution of LOI for Optejet monetization could materially affect asset and cash position, and signal an exit from life sciences.
• Large digital asset treasury position exposes shareholders to crypto market volatility; Q4’25 saw significant treasury losses (\$36.8M) due to HYPE price drop.
• Ongoing partnerships (Rysk, Felix, Silhouette, HyperLend) could further enhance revenue and ecosystem reward streams.
• GAAP vs Non-GAAP differences (Adjusted Gross Profit, Gross HYPE Holdings, Net Asset Value) are material for investor analysis, especially given crypto accounting nuances.

Conference Call and Investor Resources

Hyperion DeFi will host a conference call on March 26, 2026, at 8:00 a.m. Eastern Time, with slides and supplemental financial information available on the company’s investor relations website. Investors may submit questions in advance and access an archived webcast until April 6, 2026.

About Hyperion DeFi and Hyperliquid Blockchain

Hyperion DeFi provides streamlined investor access to the Hyperliquid blockchain ecosystem, which includes fully on-chain perpetual futures and spot order books, and the HyperEVM smart contract platform. The HYPE token is central to this ecosystem, used for staking, fee reduction, and referral bonuses. Over 41 million HYPE tokens have been purchased and sequestered by the blockchain.

The Optejet device remains a legacy asset in the life sciences segment, offering potential monetization and exit from non-core activities.

Investor Contact

For more information, visit hyperiondefi.com or contact Jason Assad at [email protected].

Disclaimer: This article is for informational purposes only and does not constitute investment advice or a solicitation to buy or sell securities. Forward-looking statements contained herein are based on management’s current expectations and are subject to risks, uncertainties, and assumptions. Actual results may differ materially. Investors should conduct their own analysis and consult their financial advisors before making investment decisions. Hyperion DeFi does not undertake any obligation to update forward-looking statements, and the information provided is not audited and may be subject to revision. Cryptocurrency and blockchain investments are volatile and may carry significant risk.

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