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Form 8-K · Current Report · Filed 2026-02-11

Hyperliquid Strategies Reports Q2 2025 Financial Results and Treasury Strategy Progress

Hyperliquid Strategies Inc (NASDAQ: PURR) reported its financial and operational results for the fiscal quarter and six months ended December 31, 2025, highlighting a net loss of $317.9 million primarily due to unrealized losses on HYPE tokens from market volatility.

Filer
Hyperliquid Strategies Inc. PURR · NASDAQ
Filed
Accession
0001193125-26-045553
CIK
0002078856
Signal
High impactFinancial Services

Details

The company completed its NASDAQ listing, established a strong initial treasury with 12.5 million HYPE tokens and $300 million in cash, and implemented its treasury strategy, repurchasing ~3.0 million PURR shares and acquiring ~5.0 million additional HYPE tokens. With a robust balance sheet, including $589.8 million in stockholders' equity and no debt, the company launched a website for enhanced transparency and is set to host an audio webcast with Q&A on February 11, 2026.

Items reported

Item events

Reported Item

Financial Instrument Agreement General Statement Regulatory Investigation

Market reaction

Close before filing

$4.63

Next session

-8.0%

Since filing

+163.1%

Latest close

$12.18

What happened, not what will happen — closing prices around the filing date.

About Hyperliquid Strategies Inc.

Hyperliquid Strategies Inc. is a digital asset treasury company specializing in the accumulation and management of HYPE, the native token of the Hyperliquid blockchain. This high-performance Layer-1 blockchain is designed to host comprehensive financial activities, including decentralized perpetual futures and spot trading on its leading exchange, which processes billions in daily volume and serves hundreds of thousands of global traders. Incorporated in 2025 and headquartered in New York, New York, the company resulted from a business combination with Sonnet BioTherapeutics Holdings, Inc., allowing Sonnet to operate as a wholly-owned subsidiary while shifting primary focus to digital assets. Hyperliquid Strategies Inc. holds substantial reserves of HYPE tokens, valued at approximately 583 million, and employs strategies like staking, yield optimization, and ecosystem engagement to maximize shareholder value. Led by CEO David Schamis and Chairman Bob Diamond, it provides U.S. and institutional investors with capital-efficient exposure to one of the fastest-growing revenue-generating blockchains in the digital asset space, bridging traditional equity markets with innovative blockchain finance.

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