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Hyperion DeFi
(NASDAQ:HYPD)
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Rating:57Neutral
Price Target:
$4.00
▲(17.30% Upside)
Action:Reiterated
Date:09/19/26
The score is held back primarily by weak financial quality—large ongoing operating losses and substantial negative operating/free cash flow despite positive net income—creating funding and durability risk. Offsetting this, technicals are supportive (price above major moving averages with neutral-to-positive momentum) and the latest earnings call was constructive with raised adjusted gross profit guidance and improving adjusted operating cash flow trend, though results remain highly sensitive to token-price and ecosystem volatility.
Positive Factors
Improving revenue and gross margin
Higher revenue and a materially stronger gross margin indicate improving monetization of Hyperion’s DeFi activities. If maintained, this combination can support better operating leverage, strengthen the economics of future growth, and increase the company’s ability to fund expansion from its core platform.
Negative Factors
Persistent operating cash burn
Large and recurring operating and free-cash-flow deficits show that reported activity is not yet converting into durable cash generation. Continued cash burn can require external funding or balance-sheet actions, limiting financial flexibility and increasing execution risk over the next several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Improving revenue and gross margin
Higher revenue and a materially stronger gross margin indicate improving monetization of Hyperion’s DeFi activities. If maintained, this combination can support better operating leverage, strengthen the economics of future growth, and increase the company’s ability to fund expansion from its core platform.
Read all positive factors
Hyperion DeFi (HYPD) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$62.78M
Dividend YieldN/A
Average Volume (3M)639.27K
Price to Earnings (P/E)―
Beta (1Y)3.25
Revenue Growth3052.03%
EPS Growth89.91%
CountryUS
Employees9
SectorHealthcare
Sector Strength45
IndustryAsset Management - Cryptocurrency
Share Statistics
EPS (TTM)-3.13
Shares Outstanding15,539,434
10 Day Avg. Volume552,230
30 Day Avg. Volume639,269
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)0.43
Price to Sales (P/S)21.88
P/FCF Ratio-1.21
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda>-0.01
Forecast
1Y Price Target
$9.83Price Target Upside188.12% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)5.66
Revenue Forecast (FY)$7.07M
Hyperion DeFi Business Overview & Revenue Model
Company Description
Hyperion DeFi, Inc. is a U.S. publicly listed company that is building a long-term strategic treasury of HYPE, the native token of the Hyperliquid blockchain. The company's primary objective is to provide shareholders with streamlined access to th...
Hyperion DeFi Earnings Call Summary
Earnings Call Date:Aug 12, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 18, 2026
Earnings Call Sentiment Positive
The call presented substantial positive developments: strong treasury accumulation (56% growth), large unrealized treasury gains, record quarterly net income and adjusted EBITDA, meaningful quarter-over-quarter growth in adjusted gross profit and multiple operational wins (product launches, partnerships, rapid redeployment of HYPE). However, the USDH-to-USDC transition created a material short-term headwind (800,000 HYPE redeployments) that depressed DeFi monetization (-36% q/q) and highlighted volatility in ecosystem rewards and GAAP cash reporting. Management demonstrated quick strategic responses (1.0M HYPE redeployed into new partnerships, new HAUS deals, first institutional credit deal), continued expense reductions (core op expenses down ~46% vs. Q3'25), and pipeline traction, which together outweigh the temporary setbacks. Overall, positives notably outweigh the lowlights, though the business remains exposed to token-price sensitivity and ecosystem timing risks.Positive Updates
HYPE Treasury Growth
Gross HYPE tokens increased 56% year-over-year from 1.31M to 2.04M (June 2025 to July 2026), with treasury value of $133M vs. cash basis of $81M (≈$52M unrealized excess).
Negative Updates
USDH Sunset and Wind-Down Impact
Replacement of USDH with USDC in May resulted in wind-down of two core HYPE deployments representing 800,000 HYPE and disrupted planned DeFi monetization, creating an unexpected headwind to revenue roadmap.
Read all updates
Q2-2026 Updates
Positive
Negative
HYPE Treasury Growth
Gross HYPE tokens increased 56% year-over-year from 1.31M to 2.04M (June 2025 to July 2026), with treasury value of $133M vs. cash basis of $81M (≈$52M unrealized excess).
Read all positive updates
Company Guidance
Hyperion reiterated 2026 adjusted gross profit guidance of $5.0–7.0 million (up from an original $4.0–6.0M), and renewed its expectation that adjusted net operating cash flow will flip positive by year‑end; supporting metrics cited on the call include Q2 adjusted gross profit of $1.2M (20% QoQ from $960k; up from $0.4M a year ago, a 162% 12‑month increase), with ~50% earned in cash and a reported 2.2x base staking yield, staking income of $527k (+69% QoQ), validator commissions of $42k (+4% QoQ), yield‑enhancement income of $334k (+58% QoQ), DeFi monetization of $158k (‑36% QoQ due to the USDH wind‑down freeing 800k HYPE), and ecosystem rewards of $90k; operational and treasury stats underpinning the outlook include redeployment of 1.0M HYPE into new HAUS partnerships in Q3 (two 500k stakes to Skew and Entropy), gross HYPE up 56% year‑over‑year from 1.31M to 2.04M (1.94M → 2.04M Q1→Q2), HYPE price moves (Q1 average 30.8 → Q2 average 51.2; period‑end 36.6 → 65.0), treasury value ~$133M vs cash basis $81M (≈$52M unrealized), NAV rising $70M → $134M, Q2 net income $31.0M (Q1 $8.8M), Q2 adjusted EBITDA $53.7M (Q1 $19.5M), adjusted net operating cash flow outflow improving to $2.1M (Q1 outflow $2.6M), adjusted net investing cash flow $6.2M (Q1 $1.5M), cash & equivalents $11.8M (Q1 $9.1M), and ~15.5M common shares outstanding as of Aug 10, while management said Q3 should be strong and Q4 could be stronger depending on redeployments and ecosystem activity.Hyperion DeFi Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
62
Positive
Cash Flow
18
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.40M | 813.46K | 57.34K | 3.79K | 0.00 | 14.00M |
| Gross Profit | 1.10M | 510.17K | -3.87M | -12.22K | 0.00 | 12.40M |
| EBITDA | -26.34M | -43.76M | -46.21M | -24.11M | -26.32M | -12.17M |
| Net Income | 6.65M | -45.31M | -49.82M | -27.26M | -28.01M | -12.78M |
Balance Sheet | ||||||
| Total Assets | 113.14M | 51.76M | 3.67M | 28.78M | 31.04M | 31.66M |
| Cash, Cash Equivalents and Short-Term Investments | 9.64M | 6.44M | 2.12M | 14.85M | 22.86M | 19.46M |
| Total Debt | 8.91M | 8.51M | 11.24M | 16.08M | 10.12M | 7.15M |
| Total Liabilities | 11.20M | 10.70M | 16.76M | 19.78M | 13.80M | 11.19M |
| Stockholders Equity | 101.93M | 41.06M | -13.10M | 9.00M | 17.23M | 20.47M |
Cash Flow | ||||||
| Free Cash Flow | -53.50M | -14.77M | -30.28M | -27.81M | -25.98M | -22.49M |
| Operating Cash Flow | -14.04M | -14.77M | -30.12M | -23.84M | -25.11M | -20.87M |
| Investing Cash Flow | -33.55M | -71.95M | -161.48K | -3.97M | -874.75K | -1.62M |
| Financing Cash Flow | 49.83M | 91.05M | 17.55M | 19.79M | 21.51M | 21.46M |
Hyperion DeFi Technical Analysis
Positive
3.41
Price Trends
2.96
Positive
3.25
Positive
3.40
Positive
Market Momentum
0.17
Negative
58.15
Neutral
68.95
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HYPD, the sentiment is Positive. The current price of 3.41 is above the 20-day moving average (MA) of 3.25, above the 50-day MA of 2.96, and above the 200-day MA of 3.40, indicating a bullish trend. The MACD of 0.17 indicates Negative momentum. The RSI at 58.15 is Neutral, neither overbought nor oversold. The STOCH value of 68.95 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HYPD.
Hyperion DeFi Risk Analysis
Hyperion DeFi disclosed 48 risk factors in its most recent earnings report. Hyperion DeFi reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Hyperion DeFi Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
57 Neutral | $62.78M | -1.25 | 9.77% | ― | 3052.03% | 89.91% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
47 Neutral | $48.40M | -3.19 | -34.09% | ― | -53.40% | -1719.88% | |
46 Neutral | $56.88M | -1.60 | 1248.13% | ― | 6.09% | 30.65% | |
45 Neutral | $13.80M | -0.70 | -445.14% | ― | 8.64% | -61.01% | |
45 Neutral | $5.93M | -0.24 | -174.26% | ― | 41.62% | 20.47% | |
44 Neutral | $32.35M | -1.40 | -48.29% | ― | ― | ― |
* Healthcare Sector Average
HYPD
Hyperion DeFi
3.92
-6.33
-61.77%
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3.00
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ICCM
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BDMD
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Hyperion DeFi Corporate Events
Business Operations and StrategyFinancial DisclosuresM&A Transactions
Hyperion DeFi Posts Record Q2 Earnings, Expands DeFi Focus
Positive
Aug 12, 2026
In its unaudited results for the quarter ended June 30, 2026, Hyperion DeFi reported a second consecutive record net income of $31.0 million and adjusted EBITDA of $53.7 million, underpinned by strong treasury gains and expanding HYPE digital asse...
Business Operations and StrategyExecutive/Board Changes
Hyperion DeFi Updates Executive Agreements and Compensation Structure
Positive
Jul 8, 2026
Effective July 7, 2026, Hyperion DeFi entered into new employment agreements with CEO and CIO Hyunsu Jung, CFO David Knox, and General Counsel Robert Rubenstein to align executive treatment and conform to industry best practices. The revised contr...
Executive/Board ChangesShareholder Meetings
Hyperion DeFi Stockholders Maintain Governance and Board Stability
Neutral
Jul 1, 2026
Hyperion DeFi, Inc. held its 2026 Annual Meeting of Stockholders virtually on June 30, 2026, with approximately 48.22% of eligible shares represented, and stockholders elected five directors, including Michael Geltzeiler and Rachel Jacobson, to on...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.