Hyperion DeFi Q3 net profit reaches $39.6 million, marking its third consecutive quarterly record.

On November 12, Hyperion DeFi (Nasdaq: HYPD), the first DeFi company listed in the U.S. built on the Hyperliquid ecosystem, announced its third-quarter results ended September 30: net profit of $39.6 million, up 28% quarter-over-quarter and nearly five times year-over-year, marking a third consecutive record-breaking quarter; adjusted EBITDA stood at $48.7 million.

On the revenue front, gross profit reached $810,000 in the third quarter, up 127% quarter-over-quarter; adjusted gross profit was $2.8 million, up 143% quarter-over-quarter, equating to 3.6 times the base HYPE staking yield. The net profit included $48.05 million in digital asset-denominated gains. The company stated it sold approximately $13 million worth of HYPE during the quarter to pay down debt, while its HYPE holdings at quarter-end increased to 1.85 million tokens (up 41% quarter-over-quarter), bringing the net asset value to $182.4 million (up 36%), with combined cash, cash equivalents, and stablecoins totaling $14.5 million.

Regarding capital structure, the company has repaid approximately $8.6 million in loans to Avenue Capital, fully clearing all legacy debt. Under the $20 million share repurchase program announced on September 8, it repurchased 240,100 shares at an average price representing a discount of approximately 30% to net asset value. Core operating profit turned positive at $600,000, achieving the goal one quarter earlier than the originally targeted end of 2026. CEO Hyunsu Jung said the company is positioning itself as "an institutional entry point for DeFi innovation."