Hyperion DeFi posts record Q3 net profit of $39.6 million

Hyperion DeFi (Nasdaq: HYPD), the first U.S.-listed DeFi company in the Hyperliquid ecosystem, reported record third-quarter net income of $39.6 million for the period ended September 30, up 28% quarter-over-quarter and nearly 5x year-over-year, marking its third consecutive record quarter, with adjusted EBITDA of $48.7 million. Gross profit came in at $810,000 (up 127% QoQ) and adjusted gross profit at $2.8 million (up 143% QoQ), equal to 3.6x base HYPE staking yield, while net income included $48.05 million in digital asset gains. The company sold about $13 million of HYPE to repay debt but still grew its HYPE holdings 41% QoQ to 1.85 million tokens, with net asset value up 36% to $182.4 million and cash, equivalents and stablecoins totaling $14.5 million. Hyperion repaid roughly $8.6 million to Avenue Capital, cleared all legacy debt, and bought back 240,100 shares at about a 30% discount to NAV under a $20 million program announced September 8; core operating profit turned positive at $600,000, a quarter ahead of its end-2026 target. CEO Hyunsu Jung said the company is positioning itself as an institutional gateway to DeFi innovation, and investors will watch whether HYPE-linked treasury gains and buyback execution can sustain profitability now that core operations have crossed into the black.