v3.25.4
Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Dec. 31, 2025
Dec. 31, 2025
Revenue    
Total revenue $ 500 $ 500
Revenue from Contract with Customer, Product and Service [Extensible Enumeration] Staking Revenue [Member] Staking Revenue [Member]
Operating income (expense):    
Unrealized loss on HYPE digital assets $ (93,200) $ (93,200)
Loss on HYPE contribution commitment (155,776) (169,156)
IPR&D write-off from Sonnet acquisition (35,605) (35,605)
Selling, general and administrative and research and development expenses (3,465) (3,483)
Total operating expenses (288,046) (301,444)
Loss from operations (287,546) (300,944)
Other income:    
Interest income 878 878
Total other income 878 878
Loss before income taxes (286,668) (300,066)
Income tax expense (deferred) (17,795) (17,795)
Net loss (304,463) (317,861)
Net loss attributable to participating securities $ (304,463) $ (317,861)
Net loss per common share - basic $ (7.43) $ (15.5)
Net loss per common share - diluted $ (7.43) $ (15.5)
Weighted average number of common shares outstanding - basic 41,004,125 20,502,062
Weighted average number of common shares outstanding - diluted 41,004,125 20,502,062