HYPE Financial Company Hyperliquid releases financial report: Net loss of $165 million for the nine months ending March 31

HYPE Financial Company Hyperliquid Strategies disclosed its third-quarter report on Thursday, currently holding approximately 20 million tokens. Since its establishment in December 2025, the company has invested $216 million to acquire about 7.3 million HYPE tokens. Hyperliquid Strategies went public last year through a merger with Sonnet BioTherapeutics, focusing on accumulating HYPE tokens through staking, yield optimization, and ecosystem participation to maximize shareholder value.

In addition to buying HYPE, the company also deployed $10.5 million to repurchase approximately 3 million shares of PURR stock at an average price of $3.42 per share. The company maintains a cash position of $103 million for future treasury deployments, repurchases, and other corporate expenses.

For the nine months ended March 31, a net loss of $165.4 million was recorded. The announcement stated that the loss was "primarily due to" a $64 million unrealized net loss on HYPE tokens, a $35.6 million one-time write-down related to the acquisition of the legacy Sonnet business, and an increase of $60.5 million in deferred income tax expenses. For the three-month period ended March 31, staking income reached $2.6 million, with interest income increasing by another $1 million, and operating expenses amounted to $7.2 million.