Hyperliquid Strategies reported $305.5 million in fiscal-year net income, driven largely by unrealized gains on its HYPE holdings.
- The company’s HYPE treasury grew to about 29.3 million tokens after it bought another 16.5 million HYPE for $773.4 million.
- PURR ended the fiscal year with about $2.06 billion in assets, $1.9 billion in HYPE and no debt.
- CEO David Schamis called the balance sheet a “fortress” and said the company is building around Hyperliquid’s growth in onchain finance.
Hyperliquid Strategies (PURR) shares hit a new record high on Thursday as the company’s underlying asset, the Hyperliquid (HYPE) token, also set a new all-time high and the company reported its first full year of financial results as a crypto treasury vehicle.
The company, which has shifted its strategy toward accumulating and staking HYPE, reported $305.5 million in net income for the fiscal year ended June 30, driven largely by unrealized gains on its token holdings.
“This was the year we built the platform,” said David Schamis, CEO of Hyperliquid Strategies, noting that the company had doubled its HYPE treasury over the past year. “We finished with a fortress balance sheet — meaningful cash, no debt, and substantially all of our tokens staked and earning.”
PURR stock rallied nearly 20% in midday trade, hitting a new record high of over $14, and was among the top trending tickers on Stocktwits at the time of writing. Retail sentiment around the shares on the platform trended in ‘extremely bullish’ territory over the past day, with chatter at ‘extremely high’ levels.
The rally tracked a broader move in the HYPE token, which was also among the top trending tickers on Stocktwits, recording an all-time high of over $86, as per Coinbase.
PURR’s HYPE Treasury Drives Financial Results
Hyperliquid Strategies recorded $709.9 million in unrealized gains on its HYPE position. That gain was partly offset by a $169.2 million one-time loss tied to tokens contributed during the company’s original business combination, $35.6 million in write-offs related to its legacy biotech operations and $183.5 million in deferred tax expense.
By comparison, PURR generated $9.5 million in staking and validator income and another $2.7 million in interest income. Operating expenses totaled about $14 million.
HYPE Holdings More Than Double
Hyperliquid Strategies’ total assets stood at about $2.06 billion at the end of the fiscal year, including roughly $1.9 billion in HYPE tokens. The company reported no debt and $1.87 billion in stockholders’ equity.
PURR continued adding to its HYPE position after the fiscal year ended. It deployed another $773.4 million to acquire 16.5 million HYPE tokens at an average price of $46.77, bringing its total treasury to about 29.3 million tokens.
That puts the company’s HYPE holdings at more than twice the level it had at the start of the fiscal year.
Schamis said the company is building around what he described as a protocol capturing activity across “perpetuals, stablecoins, real-world assets and soon outcome markets,” with value returned to HYPE holders through programmatic buybacks.
“We are building against a protocol that is winning the parts of onchain finance that generate real fees,” Schamis said.
Alongside the results, PURR filed an amended S-1 to register the resale of up to 35.16 million shares held by early advisor Rorschach Advisors. The block represents roughly 17% to 18% of the company’s float.
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