v3.26.1
Consolidated Statement of Cash Flows - USD ($)
$ in Thousands
 1 Months Ended 12 Months Ended
Jun. 30, 2025
Jun. 30, 2026
Cash flows from operating activities:    
Net income (loss) $ (597) $ 305,542
Adjustments to reconcile net income (loss) to net cash used in operating activities    
IPR&D write-off from Sonnet acquisition 0 35,605
Unrealized gain on HYPE digital assets 0 (709,875)
Loss on HYPE contribution commitment 0 169,156
Non cash - other expense 0 12,408
Gain (loss) from equity method investment in Guidant 0 362
Non cash staking and validator commission revenue 0 (9,460)
Stock-based compensation 0 893
Non cash issuance of shares to Board of Directors   104
Deferred income tax 0 183,475
Changes in operating assets and liabilities:    
Prepaids and other current assets 0 (1,302)
Receivable from related party 0 (405)
Other non-current assets 0 252
Accounts payable 597 (2,114)
Other current liabilities 0 (3,788)
Net cash used in operating activities 0 (19,147)
Cash flows from investing activities:    
Purchases of HYPE digital assets 0 (478,174)
Purchases of USDC 0 (307,293)
Sales of USDC 0 27
Cash received for the acquisition of Sonnet 0 10,347
Equity method investment 0 (2,326)
Net cash used in investing activities 0 (777,419)
Cash flows from financing activities:    
Proceeds from issuance of equity 0 947,279
Payments for equity issuance costs 0 (2,315)
Repurchases of common stock 0 (10,481)
Net cash provided by financing activities 0 934,483
Net increase (decrease) in cash and cash equivalents 0 137,917
Cash and cash equivalents, beginning of period 0 0
Cash and cash equivalents, end of period 0 137,917
Supplemental disclosure of non-cash investing and financing activities:    
Contributions of HYPE digital assets 0 580,466
Equity issued in acquisition of Sonnet 0 39,572
USDC converted into HYPE digital assets   295,242
Transfer of assets in exchange for equity method investment $ 0 $ 711