v3.25.4
Condensed Consolidated Statement of Cash Flows
$ in Thousands
 6 Months Ended
Dec. 31, 2025
USD ($)
Cash flows from operating activities:  
Net Loss $ (317,861)
Adjustments to reconcile net loss to net cash used in operating activities:  
IPR&D write-off from Sonnet acquisition 35,605
Unrealized loss on HYPE digital assets 93,200
Loss on HYPE contribution commitment 169,156
Non cash staking revenue (500)
Deferred income tax 17,795
Changes in operating assets and liabilities:  
Prepaids and other current assets (4,434)
Other non-current assets (82)
Accounts payable (884)
Other current liabilities (310)
Net cash provided by (used in) operating activities (8,315)
Cash flows from investing activities:  
Purchases of HYPE digital tokens (9,000)
Cash received for the acquisition of Sonnet 10,347
Net cash provided by (used in) investing activities 1,347
Cash flows from financing activities:  
Proceeds from issuance of equity 300,643
Payments for equity issuance costs (2,315)
Repurchases of common stock (9,434)
Net cash provided by (used in) financing activities 288,894
Net increase (decrease) in cash and cash equivalents 281,926
Cash and cash equivalents, beginning of period 0
Cash and cash equivalents, end of period 281,926
Cash paid during the period for:  
Interest 0
Taxes 0
Supplemental disclosure of non-cash investing and financing activities:  
Repurchases of common stock included in other current liabilities 709
Contributions of HYPE digital assets 580,466
Equity issued in acquisition of Sonnet $ 39,572