Hyperliquid Strategies Inc
For the period ended Dec 31, 2025. Filed Feb 11, 2026.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Dec 31, 2025 · Filed Feb 11, 2026
PURR$8.75-1.8%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Condensed Consolidated Statement of Cash Flows (Unaudited)
For the Six Months Ended December 31, 2025
(In thousands)
| Cash flows from operating activities: | |
|---|---|
| Net Loss | $(317,861) |
| Adjustments to reconcile net loss to net cash used in operating activities: | |
| IPR&D write-off from Sonnet acquisition | 35,605 |
| Unrealized loss on HYPE digital assets | 93,200 |
| Loss on HYPE contribution commitment | 169,156 |
| Non cash staking revenue | (500) |
| Deferred income tax | 17,795 |
| Changes in operating assets and liabilities: | |
| Prepaids and other current assets | (4,434) |
| Other non-current assets | (82) |
| Accounts payable | (884) |
| Other current liabilities | (310) |
| Net cash provided by (used in) operating activities | (8,315) |
| Cash flows from investing activities: | |
| Purchases of HYPE digital tokens | (9,000) |
| Cash received for the acquisition of Sonnet | 10,347 |
| Net cash provided by (used in) investing activities | 1,347 |
| Cash flows from financing activities: | |
| Proceeds from issuance of equity | 300,643 |
| Payments for equity issuance costs | (2,315) |
| Repurchases of common stock | (9,434) |
| Net cash provided by (used in) financing activities | 288,894 |
| Net increase (decrease) in cash and cash equivalents | 281,926 |
| Cash and cash equivalents, beginning of period | — |
| Cash and cash equivalents, end of period | $281,926 |
| Supplemental disclosure of cash flow information: | |
| Cash paid during the period for: | |
| Interest | $— |
| Taxes | $— |
| Supplemental disclosure of non-cash investing and financing activities: | |
| Repurchases of common stock included in other current liabilities | $709 |
| Contributions of HYPE digital assets | $580,466 |
| Equity issued in acquisition of Sonnet | $39,572 |
HYPERLIQUID STRATEGIES INC.
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.