Hyperion DeFi Posts 87% Adjusted Gross Profit Growth in Q4
Hyperion DeFi (NASDAQ: HYPD) reported significant operational growth in its financial results for the fourth quarter ending December 31, 2025. The company announced on March 26 that its adjusted gross profit, a non-GAAP measure of its operating business performance, climbed 87% quarter-over-quarter to $820,997. Revenue for the same period increased 64% to $496,229, exceeding prior guidance.
This operational strength contrasts with the company's GAAP results, which showed a net loss of $39.8 million for the quarter. This loss was primarily driven by a non-cash treasury loss of $36.8 million due to the decline in the price of the HYPE token from $45.20 at the end of Q3 to $25.40 at the end of Q4. However, the company's focus on non-GAAP operating metrics highlights the underlying health of its revenue-generating activities separate from its treasury's mark-to-market valuation.
DeFi Operations Deliver Over 1000% Growth in New Revenue Lines
Hyperion's growth was fueled by the rapid expansion of its diversified DeFi business lines. The company's newer segments, Ecosystem Rewards and DeFi Monetization, each grew by over 1,000% quarter-over-quarter, generating $285,000 and $102,000 in adjusted gross profit, respectively. Validator Commissions also saw robust growth of 127%.
These results underscore the effectiveness of Hyperion's “Triple-Dip” strategy, which involves staking its HYPE tokens, deploying them into other business activities like validation, and positioning for ecosystem rewards. The company stated this approach generated approximately three times the income that would have come from staking alone, marking a strategic shift from a simple buy-and-hold treasury model to an active, multi-pronged DeFi operator.
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.
— Hyunsu Jung, CEO of Hyperion DeFi.
Management Projects 4x Profit Growth for 2026
Looking ahead, Hyperion issued a bullish forecast for fiscal year 2026, projecting between $4 million and $6 million in adjusted gross profit. This represents an approximate fourfold increase from the $1.28 million achieved in fiscal year 2025, signaling strong confidence in its continued operational scaling.
The company's treasury has also shown resilience. After ending Q4 with its gross HYPE holdings valued at $47.8 million, the position recovered to $73.9 million as of March 23, 2026. This was driven by a rebound in the HYPE token price to $38.20 and an increase in total tokens held to 1.93 million, reinforcing the company’s position as a key player in the Hyperliquid ecosystem.
