Hyperion DeFi Reports 4Q and FY 2025 Financial Results with Quarter-over-Quarter Growth of +64% Revenue and +87% Adjusted Gross Profit

Hyperion DeFi Reports 4Q and FY 2025 Financial Results with Quarter-over-Quarter Growth of +64% Revenue and +87% Adjusted Gross Profit Five Diversified, Ramping DeFi Business Lines Delivered Growth Exceeding Q4 Guidance

Treasury Exceeds 1.93M HYPE, 1.92M KNTQ, & 1.00M HPL Tokens as of March 23 (14)

HYPD’s Unique “Triple-Dip” HYPE Deployment Generated ~3x Base Staking Income in Q4

Announces Executed LOI to Monetize the Optejet, With Potential Closing in Q2’26

LAGUNA HILLS, Calif., March 26, 2026 (GLOBE NEWSWIRE) -- Hyperion DeFi, Inc. (NASDAQ: HYPD) (“Hyperion DeFi” or the “Company”), the first U.S. publicly listed DeFi company building on Hyperliquid, today reported results for the fourth quarter and full year ending December 31, 2025.

“Against a backdrop of significant market volatility, we are pleased to report rapid growth in our DeFi operating businesses which exceeded our guidance in the fourth quarter,” said Hyunsu Jung, CEO of Hyperion DeFi. Mr. Jung continued, “Today, we are reporting detail on each business we have built in our first six months under our new DeFi strategy. We continue to make progress on our Company’s corporate transformation as a premier institutional gateway to DeFi innovation, and we expect each business to continue to scale through 2026 and beyond. Hyperion DeFi is building for the future of on-chain finance. This is more than just HYPE.”

Q3’25 and Q4’25 Summary GAAP and Non-GAAP Financial Measures

All figures in this press release are not audited. Throughout this document, totals may not sum due to rounding. Calculations are based on unrounded results.

This press release includes certain non-GAAP financial measures (including on a forward-looking basis) such as Adjusted Gross Profit, Gross HYPE Holdings, Net Asset Value, Operating Expenses Excluding Stock-Based Compensation, Treasury Gains (Losses), Adjusted Other Income (Expense), and Adjusted EBITDA. Please see “Footnotes” and “Non-GAAP Measures of Financial Performance” for reconciliations of non-GAAP financial measures to the most directly comparable GAAP financial measures and important additional information.

Please see “Footnotes” and “Non-GAAP Measures of Financial Performance” for reconciliations of non-GAAP financial measures to the most directly comparable GAAP financial measures and important additional information.

HYPD Investment Thesis

We believe our Q4’25 results demonstrate that we have transcended the strategy and capabilities of a simple buy-and-hold “DAT” (digital asset treasury company), and instead, we are differentiated as the first U.S. publicly listed DeFi company building on the Hyperliquid blockchain.

Our businesses are designed to simultaneously promote and monetize adoption of the Hyperliquid blockchain. In Q4, our unique ability to “triple-dip” our HYPE tokens across multiple deployment strategies generated ~3x the income would have otherwise generated from staking in isolation. Our “HYPD Triple-Dip” strategy is:

1) Stake our HYPE

2) Deploy the staked HYPE into another business activity – our Validator, Yield Enhancement, or DeFi Monetization, and

3) Position ourselves to receive Ecosystem Rewards

Adjusted Gross Profit ( 1) in Q3’25 and Q4’25

Adjusted Gross Profit ( 1 ), a Non-GAAP Metric, aims to capture all of Hyperion DeFi’s value-add operating business activities beyond simply buying and holding HYPE tokens. In total, Adjusted Gross Profit ( 1 ) increased +87% quarter-over-quarter from $439 thousand in Q3’25 to $821 thousand in Q4’25.

Below is a summary of all six of our operating business activities included within Adjusted Gross Profit ( 1 ):

Q3’25 and Q4'25 Expense Summary Results

Q3’25 and Q4'25 Treasury Summary

Q3'25 and Q4’25 Net Income (Loss) and Adjusted EBITDA ( 8)

FY'25 Cash Flows Summary

FY'25 Summary Financial Results

Conference Call & Webcast

Hyperion DeFi, Inc. will host a conference call to discuss fourth quarter and full year 2025 results at 8:00 a.m. Eastern Time on March 26, 2026. A slide presentation that includes supplemental financial information and reconciliations of certain non-GAAP measures to their most directly comparable GAAP measures can be accessed through the Company’s Investor Relations website at https://ir.hyperiondefi.com/events-and-presentations along with information for the conference call. Participants may also submit questions in advance of the call via email to IR@hyperiondefi.com. A webcast of the call will be archived and available through April 6, 2026 at 11:59 p.m. Eastern Time on the Company's website.

Presentation

All growth rates represent quarter-over-quarter comparisons, except as otherwise noted. All amounts in tables are presented in U.S. dollars, rounded to the nearest dollar, except as otherwise noted. As a result, certain amounts and rates may not sum or recalculate using the rounded dollar amounts provided. All numbers in this press release are not audited.

About the Hyperliquid Platform and the HYPE Token

Hyperliquid is a next-generation layer one blockchain optimized for high frequency, transparent trading. The blockchain includes fully on-chain perpetual futures and spot order books, with every order, cancel, trade, and liquidation occurring within 70 millisecond block times. It also hosts the HyperEVM, a general-purpose smart contract platform that supports permissionless decentralized financial applications akin to Ethereum.

HYPE is the native token of Hyperliquid. Staked HYPE provides utility for users via reduced trading fees and increased referral bonuses. As of March 2026, more than 41 million HYPE have been autonomously purchased and sequestered by the blockchain with the trading fees generated on the network’s central limit order books.

About Hyperion DeFi, Inc.

Hyperion DeFi, Inc. is the first U.S. publicly listed DeFi company building on Hyperliquid. The Company provides investors with streamlined access to the Hyperliquid ecosystem, one of the fastest growing, highest revenue-generating blockchains in the world. Shareholders benefit from compounding exposure to HYPE, both from its native staking yield and additional revenues generated from its unique on-chain utility.

Hyperion DeFi is also developing its proprietary Optejet User Filled Device that is designed to work with a variety of topical ophthalmic liquids, including artificial tears and lens rewetting products. The Optejet is especially useful in chronic front-of-the-eye diseases due to its ease of use, enhanced safety and tolerability, and potential for superior compliance versus standard eye drops. Together, these benefits may result in higher treatment compliance and better outcomes for patients and providers.

For more information, please visit Hyperiondefi.com or follow @hyperiondefi on X.

Forward Looking Statements; Disclaimer

Except for historical information, all the statements, expectations and assumptions contained in this press release are forward-looking statements. Forward-looking statements include, but are not limited to, statements that express our intentions, beliefs, expectations, strategies, predictions or any other statements, our future activities or other future events or conditions, including the viability of, and risks associated with, our cryptocurrency treasury strategy, the growth and revenue potential of the Hyperliquid ecosystem and the growth prospects of the Company. These statements are based on current expectations, estimates and projections about our business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and in some cases are likely to, differ materially from what is expressed or forecasted in the forward-looking statements due to numerous factors discussed from time to time in documents which we file with the U.S. Securities and Exchange Commission.

Any forward-looking statements speak only as of the date on which they are made, and except as may be required under applicable securities laws, Hyperion DeFi does not undertake any obligation to update any forward-looking statements.

Certain information contained in this press release relates to or is based on studies, publications, surveys and other data obtained from third-party sources and Hyperion DeFi’s own internal estimates and research. While Hyperion DeFi believes these third-party studies, publications, surveys and other data to be reliable as of the date of this press release, it has not independently verified, and makes no representation as to the adequacy, fairness, accuracy or completeness of, any information obtained from third-party sources. In addition, no independent source has evaluated the reasonableness or accuracy of Hyperion DeFi’s internal estimates or research and no reliance should be made on any information or statements made in this press release relating to or based on such internal estimates and research. You should conduct your own investigation and analysis of Hyperion DeFi, its business, prospects, results of operations and financial condition. In furnishing this information, Hyperion DeFi does not undertake any obligation to provide you with access to any additional information (including forward-looking information and any projections contained herein) or to update or correct the information.

Hyperion DeFi, Inc. Investor Contact:

Jason Assad

Hyperion DeFi, Inc.

IR@hyperiondefi.com

(678) 570-6791

____________________________________

[1] Includes gross proceeds of $6,234,402 less total issuance costs of $187,033.

[2] Shares issued as partial consideration for License Agreement with Formosa Pharmaceuticals Inc.

[3] Shares issued as partial consideration for reversion of License Agreement with Bausch & Lomb Ireland Limited.

[4] Includes gross proceeds of $19,385,015, less total cash issuance costs of $2,373,693.

[5] Offering includes modification of warrants and additional warrants in the July 2024 offering.

[6] Non-cash warrant modification and additional warrants issuance costs related to one of the offerings are shown on a separate line item for clarity.

[7] Includes gross proceeds of $50,000,000 less total issuance costs of $634,250.

[8] Includes gross proceeds of $40,645,265 less total issuance costs of $1,287,461.

[9] Partial exercise of the Armistice warrants.

[10] Includes gross proceeds of $1,039,206 less total issuance costs of $116,456. Also note that incremental value and non-cash warrant modification and additional warrants issuance costs related to the warrant inducement entered into on January 16, 2025 offset to a zero balance. See Note 10 – Stockholders’ Equity (Deficiency).

Hyperion DeFi Non-GAAP Measures of Financial Performance and Supplemental Disclosures

Note: See “Footnotes” section for detailed explanations and definitions.

*Presented gross of $405,331 provision for credit losses and $307,278 unamortized nonrefundable upfront fee.

**Throughout this release, N.M. is the abbreviation for “Not Meaningful”.

*The Company did not hold any LSTs on or prior to June 30, 2025. Therefore, as of September 30, 2025, the in-period change in unrealized accretion (dilution) expected upon LST to HYPE Token Reconversion is the same as the absolute figure.

Note: See “Footnotes” section for detailed explanations and definitions.

*Does not include Amortization of Operating Lease.

Note: See “Footnotes” section for detailed explanations and definitions.

*Non-current portion; does not subtract debt discount of $598,691 as of September 30, 2025 or $543,230 as of December 31, 2025.

Footnotes

Photos accompanying this announcement are available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/cba563eb-4952-4229-8844-bd018197e857

https://www.globenewswire.com/NewsRoom/AttachmentNg/d6a0d72c-5503-4a51-85a5-4d201c6f9674