Hyperion DeFi Inc
hyperiondefi.comWhat Do They Do?
Runs HYPE staking and validation services for token holders and offers clients temporary HYPE use for on-chain activity; also develops the Optejet eye-delivery device.
10-K for FY2025, filed Mar 30, 2026Hyperion DeFi, Inc. is the first U.S. publicly listed company building a long-term strategic treasury of Hyperliquid’s native token, HYPE…View ↗
We jointly operate a validator node on the Hyperliquid blockchain network and earn HYPE as rewards and commission income for validating…View ↗
We also enter into arrangements with customers under which we provide the temporary use of our HYPE tokens in exchange for consideration.…View ↗
How Do They Make Money?
Earns HYPE rewards and commissions when it validates blocks or transactions, and fees for letting customers use HYPE temporarily, with charges mainly tied to transaction volume or trading activity.
10-K for FY2025, filed Mar 30, 2026We jointly operate a validator node on the Hyperliquid blockchain network and earn HYPE as rewards and commission income for validating…View ↗
We recognize revenue by applying the guidance in ASC 606, Revenue from Contracts with Customers (“ASC 606”). HYPE earned from validator…View ↗
We also enter into arrangements with customers under which we provide the temporary use of our HYPE tokens in exchange for consideration.…View ↗
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10-K for FY2025, filed Mar 30, 2026
FY2025 revenue by reportable segment ↗
$813.5K
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10-K for FY2025, filed Mar 30, 2026
$813.5K ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Ophthalmic Technology
Sold outright
|
1.8% |
Ophthalmic Technology, FY2025
$14.7K Sources
|
Sold outright |
|
Digital Assets
Usage-based
10-K for FY2025, filed Mar 30, 2026 |
98% |
Digital Assets, FY2025
$798.7K Sources
|
Usage-based |
Who Are Their Customers?
Third-party delegators use the company’s validator, and counterparties arrange temporary HYPE use. The ophthalmic business sells products.
10-K for FY2025, filed Mar 30, 2026We jointly operate a validator node on the Hyperliquid blockchain network and earn HYPE as rewards and commission income for validating…View ↗
We also enter into arrangements with customers under which we provide the temporary use of our HYPE tokens in exchange for consideration.…View ↗
Revenue is earned from the sale of our ophthalmological products. However, we have ceased our sales efforts with respect to our…View ↗
Do Revenues Turn Into Profits?
No. It lost $45.3M in FY2025.
10-K for FY2025, filed Mar 30, 2026
How Are They Changing?
10-Q for Q2 FY2026, filed Aug 13, 2026
Open tableView ↗
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Jun 5, 2026
Ends two HYPE-use agreements and plans to redeploy tokens
The company wound down agreements with Native Markets and Felix and planned to move the HYPE to other strategies.
Sources
8-K, filed Jun 5, 2026
On May 18, 2026, Native Markets informed the Company that it is terminating the Temporary Use Agreement between Native Markets and the…View ↗
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May 14, 2026
Raises full-year adjusted gross profit guidance
It raised 2026 guidance by ~20%.
Sources
8-K, filed May 14, 2026
Company Raises Adjusted Gross Profit(1) 2026 FY Guidance by ~20%View ↗
Shrinking. Revenue fell 94% in 4 years, from $14M in FY2021 to $813.5K in FY2025, about 51% a year.
Shift toward digital assets
The earlier report describes an ophthalmic drug and delivery-device developer, while the latest report centers on a HYPE treasury, staking and validator operations alongside continued development of the Optejet device.
10-K for FY2022, filed Mar 31, 2023 10-K for FY2025, filed Mar 30, 2026We are a pre-commercial ophthalmic technology company developing the Optejet® delivery system both for use in combination with our own…View ↗
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