Hyperliquid Strategies Inc
For the period ended Mar 31, 2026. Filed May 8, 2026.
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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.
Mar 31, 2026 · Filed May 8, 2026
PURR$8.75-1.8%Stored close · as of Nov 10, 2026
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Condensed Consolidated Statement of Cash Flows (Unaudited)
For the Nine Months Ended March 31, 2026
(In thousands)
| Cash flows from operating activities: | |
|---|---|
| Net Loss | $(165,351) |
| Adjustments to reconcile net loss to net cash used in operating activities: | |
| IPR&D write-off from Sonnet acquisition | 35,605 |
| Unrealized gain on HYPE digital assets | (105,235) |
| Loss on HYPE contribution commitment | 169,156 |
| Non cash staking revenue | (3,126) |
| Stock-based compensation | 186 |
| Deferred income tax | 60,465 |
| Changes in operating assets and liabilities: | |
| Prepaids and other current assets | (2,314) |
| Receivable from related party | (779) |
| Other non-current assets | 204 |
| Accounts payable | (752) |
| Other current liabilities | (3,370) |
| Net cash used in operating activities | (15,311) |
| Cash flows from investing activities: | |
| Purchases of HYPE digital assets | (169,373) |
| Purchases of USDC | (3,873) |
| Sales of USDC | 3,373 |
| Cash received for the acquisition of Sonnet | 10,347 |
| Equity method investment | (1,325) |
| Net cash used in investing activities | (160,851) |
| Cash flows from financing activities: | |
| Proceeds from issuance of equity | 302,113 |
| Payments for equity issuance costs | (2,315) |
| Repurchases of common stock | (10,572) |
| Net cash provided by financing activities | 289,226 |
| Net increase (decrease) in cash and cash equivalents | 113,064 |
| Cash and cash equivalents, beginning of period | — |
| Cash and cash equivalents, end of period | $113,064 |
| Supplemental disclosure of cash flow information: | |
| Cash paid during the period for: | |
| Interest | $— |
| Taxes | $— |
| Supplemental disclosure of non-cash investing and financing activities: | |
| Contributions of HYPE digital assets | $580,466 |
| Equity issued in acquisition of Sonnet | $39,572 |
| Deferred purchase price for equity method investment included in other current liabilities | $1,000 |
| Transfer of assets in exchange for equity method investment | $711 |
HYPERLIQUID STRATEGIES INC.
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)
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