Hyperliquid Strategies reports $152.5M Q3 net income on $198.4M HYPE token gains; $10.6M buyback

Filed May 8, 2026 · Period ending March 31, 2026 · ~2 min read

Key Changes

• high

  Q3 net income of $152.5M driven by $198.4M unrealized gain on HYPE token holdings (fair value $689M at quarter-end), partially offset by $42.7M tax expense. Company accumulated 5.9M additional HYPE tokens for $160.4M during the quarter.

  MD&A: Quarterly Results verify on EDGAR →
• high

  Repurchased 3.1M shares for $10.6M under $30M board-authorized program (12-month term), leaving $19.4M remaining authorization. Company has $113.1M cash and $1.0B equity facility with Chardan for potential HYPE purchases.

  MD&A: Share Repurchase & Liquidity verify on EDGAR →
• medium

  Completed exit from legacy biotech business: transferred Sonnet's developmental assets, patents, employees, and Australian subsidiary plus $2.3M cash to Guidant Bio in exchange for 40% equity stake.

  MD&A: Sonnet Disposition verify on EDGAR →