Hyperion DeFi Posts $39.6 Million Q3 Profit as HYPE Token Count Falls

Hyperion DeFi posted $39.6 million in third-quarter net income as sales of Hyperliquid’s HYPE token to repay debt cut its balance to about 1.848 million, with the remaining position valued at $167.9 million.

The Nasdaq-listed company held about 1.848 million HYPE on Sept. 30, down from 2.04 million at the end of Q2. The token was valued at $90.83 each at quarter-end, while Hyperion’s average cost was $40 per token. Its net asset value stood at $182.4 million.

Net income totaled $39.59 million, compared with $6.63 million in the year-earlier quarter. Revenue was about $810,000, up 168% year over year. Adjusted EBITDA was $48.66 million, down from $53.65 million in Q2, mainly due to a $5.7 million LST adjustment.

Hyperion ended September with $14.54 million in cash, cash equivalents and stablecoins, and had cleared its historical debt. During the quarter, it repaid about $8.6 million on its Avenue Capital loan and repurchased 240,124 shares for about $788,000, following its earlier loan repayment and HYPD buyback program.

Staking yield reached $785,000, up 49% from the prior quarter. Staking and validator operations generated about 10,885 HYPE during Q3. As of Oct. 31, about 6.3 million HYPE had been delegated to its validators.

The company reiterated its 2026 adjusted gross profit guidance of $7 million to $8 million.