Hyperion DeFi Reports 1Q 2026 Financial Results with Record Net Income and Raises Guidance for Full Year 2026

Published: 2026-05-14 07:03:57 ET HYPD

Published on 05/14/2026 at 07:03 am EDT

Company Reports Record $8.8M Net Income and $19.5M Adjusted EBITDA(8)

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.

“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

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.

*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.

Please see “Footnotes” and “Non-GAAP Measures of Financial Performance” sections for detailed definitions and reconciliations to the nearest GAAP Metric.

HYPD Investment Thesis

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.

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 HYPE2) Deploy the staked HYPE into another business activity – our Validator, Yield Enhancement, or DeFi Monetization, and3) Position ourselves to receive Ecosystem Rewards

Adjusted Gross Profit(1) in Q4’25 and Q1’26

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:

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

Q4’25 and Q1'26 Treasury Summary

Q4'25 and Q1’26 Net Income (Loss) and Adjusted EBITDA(8)

Q4’25 and Q1'26 Cash Flows Summary

Conference Call & Webcast

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 AssadHyperion DeFi, [email protected](678) 570-6791

________________________________[1] Includes gross proceeds of $6,981,098 less total issuance costs of $315,716.[2] Includes gross proceeds of $5,851,007 less total issuance costs of $187,741.[3] Includes gross proceeds of $1,039,206 less total issuance costs of $116,456.[4] Incremental value from the warrant inducement entered into on January 16, 2025.[5] Non-cash warrant modification and additional warrants issuance costs related to the warrant inducement are shown as a separate line item for clarity.

Hyperion DeFi Non-GAAP Measures of Financial Performance and Supplemental Disclosures

Note: See “Footnotes” section for detailed explanations and definitions.

*Presented gross of $586,774 allowance for credit losses and $108,321 unamortized nonrefundable upfront fee.**Presented gross of $323,067 allowance for credit losses.***Throughout this release, N.M. is the abbreviation for “Not Meaningful”.

*Presented gross of $405,331 allowance for credit losses and $307,278 unamortized nonrefundable upfront fee.

*The Company did not hold any LSTs on or prior to June 30, 2025. Therefore, as of September 30, 2025, the in-period change in unrealized accretion (dilution) expected upon LST to HYPE Token Reconversion is the same as the absolute figure.

Note: See “Footnotes” section for detailed explanations and definitions.

Note: See “Footnotes” section for detailed explanations and definitions.*Does not include Amortization of Operating Lease.

Note: See “Footnotes” section for detailed explanations and definitions.

*Digital intangible assets representing claims on USDH held in the Hyperion Rysk Institutional Volatility Income Vault, bearing the technical name “WHYPE-USDH-USDH-P-H-HL”.**Includes Notes payable - current portion as of March 31, 2026; does not subtract debt discount of $36,974 as of March 31, 2026.***Non-current portion; does not subtract debt discount of $598,691 as of September 30, 2025, $543,230 as of December 31, 2025, or $450,796 as of March 31, 2026.Footnotes

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ddd4c6f1-b02c-49f1-90c3-46e511620d60

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