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Cypherpunk Technologies (CYPH) Financials

Cypherpunk Technologies logo
$0.71 -0.01 (-1.00%)
As of 11:51 AM Eastern
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Annual Income Statements for Cypherpunk Technologies

Annual Income Statements for Cypherpunk Technologies

This table shows Cypherpunk Technologies' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 0.00 -30 -23 -33 -38 -41 -55 -81 -68 4.98
Consolidated Net Income / (Loss)		 -26 -30 -23 -33 -28 -41 -55 -81 -68 4.82
Net Income / (Loss) Continuing Operations		 -29 -30 -23 -33 -28 -41 -55 -81 -68 4.98
Total Pre-Tax Income 		-29 -30 -23 -33 -28 -41 -54 -81 -67 10
Total Operating Income		 -27 -32 -31 -33 -29 -41 -57 -87 -70 -41
Total Gross Profit		 0.00 0.00 0.00 0.00 1.50 1.50 0.00 0.00 0.00 0.00
Total Revenue		 0.00 0.00 0.00 0.00 1.50 1.50 0.00 0.00 0.00 0.00
Total Cost of Revenue		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Operating Expenses		 27 32 31 33 30 42 55 87 70 41
Selling, General & Admin Expense		 4.01 9.85 8.92 9.09 9.62 11 12 14 13 11
Research & Development Expense		 23 23 22 24 20 31 43 73 57 26
Restructuring Charge		 - - - - - - - - 0.00 4.53
Total Other Income / (Expense), net		 -1.46 2.47 7.63 0.42 1.02 -0.41 0.26 5.62 3.09 51
Interest Expense		 1.23 0.65 0.02 0.02 0.04 0.04 0.05 - 0.00 0.02
Interest & Investment Income		 0.00 0.17 0.45 0.31 0.09 0.01 0.93 4.03 3.13 0.92
Other Income / (Expense), net		 -0.23 2.95 7.21 0.13 0.97 -0.38 -0.61 1.59 -0.04 50
Income Tax Expense		 0.00 -0.16 0.02 -0.00 -0.00 -0.02 0.15 0.00 0.59 5.26
Other Adjustments to Net Income / (Loss) Attributable to Common Shareholders)		 -26 - 0.00 0.36 0.30 - - - 0.23 0.00
Basic Earnings per Share		 $0.00 ($3.27) ($1.64) ($1.47) ($0.63) ($0.47) ($4.82) ($3.98) ($1.81) $0.07
Weighted Average Basic Shares Outstanding		 0.00 9.16M 14.14M 22.58M 59.33M 85.83M 11.32M 20.45M 37.55M 66.14M
Diluted Earnings per Share		 $0.00 ($3.31) ($2.11) ($1.47) ($0.63) ($0.47) ($4.82) ($3.98) ($1.81) $0.07
Weighted Average Diluted Shares Outstanding		 0.00 9.19M 14.41M 22.58M 59.33M 85.83M 11.32M 20.45M 37.55M 70.67M
Weighted Average Basic & Diluted Shares Outstanding		 - 12.35M 22.26M 35.80M 59.66M 88.32M 118.75M 25.60M 41.26M 89.98M

Quarterly Income Statements for Cypherpunk Technologies

This table shows Cypherpunk Technologies' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 -14 -12 -14 -20 -18 -16 -15 -17 -3.30 40 -77
Consolidated Net Income / (Loss)		 -14 -12 -14 -20 -18 -15 -15 -17 -3.30 40 -77
Net Income / (Loss) Continuing Operations		 -14 -12 -14 -20 -18 -15 -15 -17 -3.30 40 -77
Total Pre-Tax Income 		-14 -54 -14 -20 -17 -16 -15 -17 -3.10 45 -82
Total Operating Income		 -15 -15 -15 -21 -18 -16 -16 -17 -3.17 -5.10 -4.82
Total Gross Profit		 0.00 - 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Total Revenue		 0.00 - 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Total Cost of Revenue		 0.00 - 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Total Operating Expenses		 15 15 15 21 18 16 16 17 3.17 5.32 4.82
Selling, General & Admin Expense		 3.33 3.14 3.53 3.37 2.94 3.01 3.01 1.82 1.92 4.13 4.66
Research & Development Expense		 12 12 11 18 15 13 13 11 1.25 1.19 0.16
Total Other Income / (Expense), net		 1.14 2.58 1.01 1.12 0.39 0.57 0.43 0.24 0.07 51 -77
Interest Expense		 - - 0.00 0.00 0.00 - 0.01 0.01 0.01 0.00 0.01
Interest & Investment Income		 1.08 0.94 0.78 0.87 0.89 0.60 0.44 0.25 0.12 0.11 0.10
Other Income / (Expense), net		 0.05 1.64 0.23 0.26 -0.51 -0.02 -0.00 -0.00 -0.05 50 -78
Income Tax Expense		 0.00 - - - 0.71 - 0.00 - 0.20 - -5.12
Basic Earnings per Share		 ($0.51) ($0.61) ($0.51) ($0.52) ($0.44) ($0.42) ($0.37) ($0.40) ($0.08) $0.92 ($0.46)
Weighted Average Basic Shares Outstanding		 26.99M 20.45M 27.01M 39.12M 41.21M 37.55M 41.27M 41.44M 41.44M 66.14M 168.10M
Diluted Earnings per Share		 ($0.51) ($0.61) ($0.51) ($0.52) ($0.44) ($0.42) ($0.37) ($0.40) ($0.08) $0.92 ($0.46)
Weighted Average Diluted Shares Outstanding		 26.99M 20.45M 27.01M 39.12M 41.21M 37.55M 41.27M 41.44M 41.44M 70.67M 168.10M
Weighted Average Basic & Diluted Shares Outstanding		 25.57M 25.60M 38.26M 38.26M 38.32M 41.26M 41.44M 41.44M 56.65M 89.98M 106.46M

Annual Cash Flow Statements for Cypherpunk Technologies

This table details how cash moves in and out of Cypherpunk Technologies' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 0.39 26 -10 -12 48 63 -49 5.14 -23 -33
Net Cash From Operating Activities		 -25 -22 -26 -27 -26 -35 -49 -44 -60 -44
Net Cash From Continuing Operating Activities		 -25 -22 -26 -27 -26 -35 -49 -44 -60 -44
Net Income / (Loss) Continuing Operations		 -26 -30 -23 -33 -28 -41 -55 -81 -68 4.82
Consolidated Net Income / (Loss)		 -26 -30 -23 -33 -28 -41 -55 -81 -68 4.82
Depreciation Expense		 0.03 0.05 0.05 0.05 0.03 0.03 0.02 0.02 0.01 0.00
Non-Cash Adjustments To Reconcile Net Income		 -1.78 6.71 -3.04 5.14 2.23 3.09 5.18 36 5.96 -45
Changes in Operating Assets and Liabilities, net		 2.05 0.84 0.09 0.69 -0.84 2.17 0.36 1.21 1.29 -3.59
Net Cash From Investing Activities		 -0.14 -0.06 0.00 -0.09 0.03 0.00 0.00 49 0.00 -97
Net Cash From Continuing Investing Activities		 -0.14 -0.06 0.00 -0.09 0.03 0.00 0.00 49 0.00 -97
Other Investing Activities, net		 - - - - - - - - 0.00 -97
Net Cash From Financing Activities		 26 48 16 15 74 98 -0.21 -0.03 37 108
Net Cash From Continuing Financing Activities		 26 48 16 15 74 98 -0.21 -0.03 37 108
Repayment of Debt		 - - - - - - - - 0.00 -0.44
Repurchase of Common Equity		 - - -0.36 -0.44 -1.91 -0.18 -0.21 -0.03 -2.95 -0.62
Issuance of Common Equity		 0.00 28 15 15 49 97 - 0.00 40 0.00
Other Financing Activities, net		 -0.28 19 1.23 0.00 0.40 1.00 0.00 -0.00 0.13 109

Quarterly Cash Flow Statements for Cypherpunk Technologies

This table details how cash moves in and out of Cypherpunk Technologies' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Change in Cash & Equivalents		 -11 -10 -16 24 -16 -16 -15 -15 -8.44 4.35 -7.35
Net Cash From Operating Activities		 -10 -10 -16 -14 -16 -16 -14 -14 -8.32 -6.62 -3.43
Net Cash From Continuing Operating Activities		 -10 -10 -16 -14 -16 -16 -14 -14 -8.32 -6.62 -3.43
Net Income / (Loss) Continuing Operations		 -14 -12 -14 -20 -18 -15 -15 -17 -3.30 40 -77
Consolidated Net Income / (Loss)		 -14 -12 -14 -20 -18 -15 -15 -17 -3.30 40 -77
Non-Cash Adjustments To Reconcile Net Income		 3.76 0.44 1.12 1.22 1.64 1.99 1.26 1.60 0.35 -48 80
Changes in Operating Assets and Liabilities, net		 -0.55 1.64 -2.82 5.24 0.63 -1.76 -0.31 0.56 -5.37 1.53 -5.95
Net Cash From Investing Activities		 - - 0.00 - - - 0.00 - - -97 -9.00
Net Cash From Continuing Investing Activities		 - - 0.00 - - - 0.00 - - -97 -9.00
Purchase of Investments		 - - - - - - 0.00 - - - -5.00
Other Investing Activities, net		 - - - - - - 0.00 - - - -4.00
Net Cash From Financing Activities		 -0.00 - 0.03 37 -0.07 0.10 -0.06 -0.12 -0.12 108 5.08
Net Cash From Continuing Financing Activities		 -0.00 - 0.03 37 -0.07 0.10 -0.06 -0.12 -0.12 108 5.08
Repayment of Debt		 - - - - - - -0.08 - - - -0.18
Repurchase of Common Equity		 - - - - -0.07 - 0.00 - - -0.62 -0.64
Issuance of Common Equity		 - - - - - - 0.00 - - - 0.00
Other Financing Activities, net		 -0.00 - 0.03 - - 0.10 0.02 -0.12 -0.12 109 5.90

Annual Balance Sheets for Cypherpunk Technologies

This table presents Cypherpunk Technologies' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 6.46 29 19 7.45 54 118 70 73 49 163
Total Current Assets		 4.03 28 17 4.24 52 117 68 72 48 162
Cash & Equivalents		 0.79 26 16 3.89 52 115 66 71 47 14
Prepaid Expenses		 0.18 0.18 0.20 0.17 0.13 0.77 0.35 0.18 0.09 0.04
Other Current Assets		 3.05 1.74 0.84 0.19 0.07 1.19 2.10 0.77 0.70 148
Plant, Property, & Equipment, net		 0.12 0.14 0.09 0.12 0.07 0.04 0.02 0.01 0.00 0.00
Total Noncurrent Assets		 2.31 1.27 1.67 3.08 2.03 1.00 2.38 1.22 1.09 1.10
Long-Term Investments		 - - - - - - - - - 0.00
Other Noncurrent Operating Assets		 2.31 1.11 1.54 2.96 1.85 0.84 2.38 1.22 1.09 1.10
Total Liabilities & Shareholders' Equity		 6.46 29 19 7.45 54 118 70 73 49 163
Total Liabilities		 36 18 9.90 9.20 7.72 10 11 13 14 9.68
Total Current Liabilities		 36 6.08 6.45 8.49 7.37 9.99 11 13 14 4.56
Accounts Payable		 3.23 2.62 3.58 4.57 2.72 4.19 5.66 6.47 4.74 1.98
Accrued Expenses		 2.66 3.46 2.87 3.44 2.75 5.37 5.15 5.96 8.54 2.07
Current Deferred & Payable Income Tax Liabilities		 - - - - - - - 0.00 0.53 0.47
Other Current Liabilities		 30 - 0.00 0.47 0.41 0.43 0.42 0.26 0.27 0.04
Total Noncurrent Liabilities		 0.00 12 3.45 0.71 0.35 0.04 0.26 0.00 0.00 5.12
Noncurrent Deferred & Payable Income Tax Liabilities		 - - - - - - - - 0.00 5.12
Total Equity & Noncontrolling Interests		 -100 11 9.18 -1.75 47 108 59 60 35 154
Total Preferred & Common Equity		 -100 11 9.18 -1.75 47 108 59 60 35 154
Preferred Stock		 - - - - - - 0.00 0.00 0.00 0.00
Total Common Equity		 -100 11 9.18 -1.75 47 108 59 60 35 154
Common Stock		 0.15 142 162 193 270 372 377 460 503 616
Retained Earnings		 -101 -130 -154 -195 -223 -264 -318 -400 -467 -463
Accumulated Other Comprehensive Income / (Loss)		 0.29 -0.27 0.30 0.08 -0.58 -0.27 0.13 0.11 -0.12 -0.10

Quarterly Balance Sheets for Cypherpunk Technologies

This table presents Cypherpunk Technologies' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026
Total Assets		 83 58 81 65 35 20 11 87
Total Current Assets		 82 56 80 64 34 19 10 82
Cash & Equivalents		 81 55 78 63 33 18 9.69 6.69
Prepaid Expenses		 0.27 0.53 0.35 0.21 0.45 0.29 0.07 0.77
Other Current Assets		 0.75 0.74 0.75 0.78 0.71 0.74 0.74 74
Plant, Property, & Equipment, net		 0.01 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Noncurrent Assets		 1.28 1.78 1.84 1.24 1.01 0.88 0.90 5.46
Long-Term Investments		 - - - - - - - 5.00
Other Noncurrent Operating Assets		 1.28 1.53 1.33 1.24 0.95 0.82 0.90 0.46
Total Liabilities & Shareholders' Equity		 83 58 81 65 35 20 11 87
Total Liabilities		 11 11 16 16 14 14 8.70 3.00
Total Current Liabilities		 11 10 16 16 14 14 8.70 3.00
Accounts Payable		 5.90 5.95 7.81 5.95 6.36 7.34 4.28 0.52
Accrued Expenses		 4.77 4.06 7.35 9.05 6.99 6.62 3.86 1.97
Current Deferred & Payable Income Tax Liabilities		 - - - 0.72 0.54 0.32 0.53 0.48
Other Current Liabilities		 0.37 0.43 0.44 0.38 0.15 0.04 0.04 0.04
Total Noncurrent Liabilities		 0.00 0.15 0.04 0.00 0.00 0.00 0.00 0.00
Noncurrent Deferred & Payable Income Tax Liabilities		 - - - - - - - 0.00
Total Equity & Noncontrolling Interests		 72 47 66 49 21 5.72 2.70 84
Total Preferred & Common Equity		 72 47 66 49 21 5.72 2.70 84
Preferred Stock		 - 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 72 47 66 49 21 5.72 2.70 84
Common Stock		 458 461 500 501 504 505 506 624
Retained Earnings		 -387 -413 -434 -452 -483 -499 -503 -540
Accumulated Other Comprehensive Income / (Loss)		 0.76 -0.12 0.00 0.01 -0.11 -0.08 -0.10 -0.09

Annual Metrics And Ratios for Cypherpunk Technologies

This table displays calculated financial ratios and metrics derived from Cypherpunk Technologies' official financial filings.

Metric 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
DEI Shares Outstanding		 0.00 9,395,920.00 14,703,159.00 24,194,877.00 59,657,742.00 88,318,454.00 99,021,376.00 25,565,414.00 38,317,897.00 56,651,840.00
DEI Adjusted Shares Outstanding		 0.00 939,592.00 1,470,316.00 2,419,488.00 5,965,774.00 8,831,845.00 9,902,138.00 25,565,414.00 38,317,897.00 56,651,840.00
DEI Earnings Per Adjusted Shares Outstanding		 0.00 -31.90 -15.74 -13.75 -6.30 -4.60 -5.51 -3.18 -1.77 0.09
Growth Metrics		 - - - - - - - - - -
Revenue Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -100.00% 0.00% 0.00% 0.00%
EBITDA Growth		 0.00% -6.73% 19.96% -41.63% 17.66% -51.97% -37.74% -48.96% 17.96% 113.33%
EBIT Growth		 0.00% -6.81% 19.93% -41.53% 17.27% -51.63% -37.23% -48.95% 17.97% 113.33%
NOPAT Growth		 0.00% -18.49% 4.95% -8.78% 14.68% -45.16% -37.02% -53.34% 19.51% 59.93%
Net Income Growth		 0.00% -15.98% 22.17% -42.19% 16.37% -47.51% -34.52% -49.12% 17.02% 107.14%
EPS Growth		 0.00% 0.00% 36.25% 30.33% 57.14% 25.40% -34.52% 17.43% 54.52% 103.87%
Operating Cash Flow Growth		 0.00% 12.63% -17.60% -3.34% 3.51% -35.44% -39.50% 10.79% -37.82% 27.19%
Free Cash Flow Firm Growth		 0.00% 0.00% 24.62% 14.30% 18.84% -35.61% -46.51% -42.19% 17.03% -261.89%
Invested Capital Growth		 0.00% 52.05% 51.37% 20.66% 3.90% -29.69% 5.62% -58.31% -16.18% 1,243.11%
Revenue Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 33.33% 0.00% -100.00% 0.00% 0.00% 0.00%
EBITDA Q/Q Growth		 0.00% 15.02% 19.62% -47.65% 7.69% -9.79% -7.63% 0.08% -4.43% 117.91%
EBIT Q/Q Growth		 0.00% 14.98% 19.59% -47.53% 5.84% -9.75% -7.62% 0.08% -4.42% 117.91%
NOPAT Q/Q Growth		 0.00% 4.13% -8.56% 2.05% 3.77% -8.75% -6.48% -1.02% -1.90% 46.11%
Net Income Q/Q Growth		 0.00% -2.99% 25.87% -40.45% 4.47% -11.17% -2.47% -0.45% -4.59% 109.49%
EPS Q/Q Growth		 0.00% -15.73% 10.21% -6.52% -23.53% 0.00% -2.47% -32.67% -15.29% 105.69%
Operating Cash Flow Q/Q Growth		 0.00% 4.02% -2.69% 4.12% -0.36% -15.54% -4.92% 5.68% -9.30% 16.84%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% -398.47% 30.93% 1.09% -16.31% -8.36% 4.60% -10.11% -295.30%
Invested Capital Q/Q Growth		 0.00% -458.44% 57.23% -25.44% -12.05% 11.61% 19.44% -20.23% 12.03% 2,095.01%
Profitability Metrics		 - - - - - - - - - -
Gross Margin		 0.00% 0.00% 0.00% 0.00% 100.00% 100.00% 0.00% 0.00% 0.00% 0.00%
EBITDA Margin		 0.00% 0.00% 0.00% 0.00% -1,826.73% -2,776.07% 0.00% 0.00% 0.00% 0.00%
Operating Margin		 0.00% 0.00% 0.00% 0.00% -1,902.60% -2,761.73% 0.00% 0.00% 0.00% 0.00%
EBIT Margin		 0.00% 0.00% 0.00% 0.00% -1,838.00% -2,787.00% 0.00% 0.00% 0.00% 0.00%
Profit (Net Income) Margin		 0.00% 0.00% 0.00% 0.00% -1,834.27% -2,705.80% 0.00% 0.00% 0.00% 0.00%
Tax Burden Percent		 89.12% 99.47% 100.09% 99.99% 99.99% 99.94% 100.27% 100.00% 100.87% 47.85%
Interest Burden Percent		 104.47% 101.63% 98.18% 98.73% 99.80% 97.14% 94.91% 95.27% 95.54% 107.87%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 52.15%
Return on Invested Capital (ROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Equity (ROE)		 25.57% 66.72% -228.05% -886.08% -122.55% -52.53% -65.48% -136.82% -141.94% 5.11%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -122.84%
Operating Return on Assets (OROA)		 0.00% 0.00% 0.00% 0.00% -89.20% -48.53% 0.00% 0.00% 0.00% 0.00%
Return on Assets (ROA)		 0.00% 0.00% 0.00% 0.00% -89.01% -47.12% 0.00% 0.00% 0.00% 0.00%
Return on Common Equity (ROCE)		 25.57% 66.72% -228.05% -886.08% -122.55% -52.53% -65.48% -136.82% -141.94% 5.11%
Return on Equity Simple (ROE_SIMPLE)		 25.57% -267.40% -252.19% 1,881.07% -58.98% -37.62% -92.75% -135.37% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -19 -23 -22 -23 -20 -29 -40 -61 -49 -20
NOPAT Margin		 0.00% 0.00% 0.00% 0.00% -1,331.82% -1,933.21% 0.00% 0.00% 0.00% 0.00%
Net Nonoperating Expense Percent (NNEP)		 9.35% 32.18% -7.67% -94.02% -26.94% -13.88% -16.48% -30.09% -31.41% 79.87%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - -101.31% -139.92% -12.80%
Cost of Revenue to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 0.00% 0.00% 0.00% 0.00% 641.07% 717.73% 0.00% 0.00% 0.00% 0.00%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 1,361.53% 2,062.27% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 0.00% 0.00% 0.00% 0.00% 2,002.60% 2,780.00% 0.00% 0.00% 0.00% 0.00%
Earnings before Interest and Taxes (EBIT)		 -28 -29 -24 -33 -28 -42 -57 -85 -70 9.34
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -28 -29 -23 -33 -27 -42 -57 -85 -70 9.34
Valuation Ratios		 - - - - - - - - - -
Price to Book Value (P/BV)		 0.00 5.27 3.21 0.00 2.88 2.65 0.76 1.76 3.14 0.43
Price to Tangible Book Value (P/TBV)		 0.00 5.27 3.21 0.00 2.88 2.65 0.76 1.76 3.14 0.43
Price to Revenue (P/Rev)		 0.00 0.00 0.00 0.00 89.49 190.77 0.00 0.00 0.00 0.00
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 13.20
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 7.58%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.37
Enterprise Value to Revenue (EV/Rev)		 0.00 0.00 0.00 0.00 54.77 114.16 0.00 0.00 0.00 0.00
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 5.53
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 5.53
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - -
Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Financial Leverage		 -0.70 -0.49 -2.07 -2.72 -1.25 -1.08 -1.08 -1.14 -1.24 -0.33
Leverage Ratio		 -0.06 -0.40 2.37 3.57 1.38 1.11 1.13 1.20 1.28 1.13
Compound Leverage Factor		 -0.07 -0.41 2.33 3.53 1.37 1.08 1.07 1.15 1.22 1.21
Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Altman Z-Score		 0.00 -6.77 -12.88 -50.37 4.04 13.93 -5.73 -5.57 -12.50 1.45
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - -
Current Ratio		 0.11 4.55 2.69 0.50 7.09 11.70 6.05 5.64 3.41 35.56
Quick Ratio		 0.02 4.23 2.52 0.46 7.06 11.51 5.84 5.57 3.36 3.08
Cash Flow Metrics		 - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 0.00 -39 -29 -25 -20 -27 -40 -57 -47 -171
Operating Cash Flow to CapEx		 -17,595.14% -34,589.06% 0.00% -31,649.41% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Free Cash Flow to Firm to Interest Expense		 0.00 -59.35 -1,528.25 -1,081.94 -517.88 -668.03 -743.13 0.00 0.00 -7,138.47
Operating Cash Flow to Interest Expense		 -20.55 -34.11 -1,370.16 -1,169.65 -665.56 -857.49 -908.22 0.00 0.00 -1,829.25
Operating Cash Flow Less CapEx to Interest Expense		 -20.67 -34.21 -1,370.16 -1,173.35 -664.92 -857.49 -908.22 0.00 0.00 -1,829.25
Efficiency Ratios		 - - - - - - - - - -
Asset Turnover		 0.00 0.00 0.00 0.00 0.05 0.02 0.00 0.00 0.00 0.00
Accounts Receivable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 0.00 0.00 0.00 0.00 15.87 29.70 0.00 0.00 0.00 0.00
Accounts Payable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Sales Outstanding (DSO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Cash Conversion Cycle (CCC)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Capital & Investment Metrics		 - - - - - - - - - -
Invested Capital		 -30 -15 -7.11 -5.64 -5.42 -7.03 -6.63 -11 -12 139
Invested Capital Turnover		 0.00 0.00 0.00 0.00 -0.27 -0.24 0.00 0.00 0.00 0.00
Increase / (Decrease) in Invested Capital		 0.00 16 7.51 1.47 0.22 -1.61 0.40 -3.87 -1.70 152
Enterprise Value (EV)		 0.00 33 13 23 82 171 -21 35 63 52
Market Capitalization		 0.00 59 29 27 134 286 45 106 110 66
Book Value per Share		 $0.00 $1.18 $0.62 ($0.07) $0.78 $1.22 $0.59 $2.35 $0.91 $2.71
Tangible Book Value per Share		 $0.00 $1.18 $0.62 ($0.07) $0.78 $1.22 $0.59 $2.35 $0.91 $2.71
Total Capital		 -100 11 9.18 -1.75 47 108 59 60 35 154
Total Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Long-Term Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt		 -0.79 -26 -16 -3.89 -52 -115 -66 -71 -47 -14
Capital Expenditures (CapEx)		 0.14 0.06 0.00 0.09 -0.03 0.00 0.00 0.00 0.00 0.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -33 -4.16 -5.41 -8.14 -7.17 -8.03 -8.78 -12 -13 143
Debt-free Net Working Capital (DFNWC)		 -32 22 11 -4.25 45 107 57 59 34 158
Net Working Capital (NWC)		 -32 22 11 -4.25 45 107 57 59 34 158
Net Nonoperating Expense (NNE)		 6.52 7.08 1.61 9.48 7.54 12 15 20 19 -24
Net Nonoperating Obligations (NNO)		 70 -26 -16 -3.89 -52 -115 -66 -71 -47 -14
Total Depreciation and Amortization (D&A)		 0.03 0.05 0.05 0.05 0.17 0.16 0.02 0.02 0.01 0.00
Debt-free, Cash-free Net Working Capital to Revenue		 0.00% 0.00% 0.00% 0.00% -477.93% -535.27% 0.00% 0.00% 0.00% 0.00%
Debt-free Net Working Capital to Revenue		 0.00% 0.00% 0.00% 0.00% 2,993.47% 7,125.80% 0.00% 0.00% 0.00% 0.00%
Net Working Capital to Revenue		 0.00% 0.00% 0.00% 0.00% 2,993.47% 7,125.80% 0.00% 0.00% 0.00% 0.00%
Earnings Adjustments		 - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.00 ($32.70) ($16.40) ($14.70) ($6.30) ($4.70) ($4.80) ($3.98) ($1.81) $0.07
Adjusted Weighted Average Basic Shares Outstanding		 0.00 916.18K 1.41M 2.26M 5.93M 8.58M 11.32M 20.45M 37.55M 66.14M
Adjusted Diluted Earnings per Share		 $0.00 ($33.10) ($21.10) ($14.70) ($6.30) ($4.70) ($4.80) ($3.98) ($1.81) $0.07
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 918.86K 1.44M 2.26M 5.93M 8.58M 11.32M 20.45M 37.55M 70.67M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 1.24M 2.23M 3.58M 5.97M 8.83M 11.88M 25.60M 41.26M 89.98M
Normalized Net Operating Profit after Tax (NOPAT)		 -19 -23 -22 -23 -20 -29 -40 -61 -49 -26
Normalized NOPAT Margin		 0.00% 0.00% 0.00% 0.00% -1,331.82% -1,933.21% 0.00% 0.00% 0.00% 0.00%
Pre Tax Income Margin		 0.00% 0.00% 0.00% 0.00% -1,834.40% -2,707.40% 0.00% 0.00% 0.00% 0.00%
Debt Service Ratios		 - - - - - - - - - -
EBIT to Interest Expense		 -22.33 -45.31 -1,239.26 -1,448.91 -706.92 -1,019.63 -1,062.43 0.00 0.00 389.25
NOPAT to Interest Expense		 -15.50 -34.89 -1,132.93 -1,018.07 -512.24 -707.27 -735.82 0.00 0.00 -818.80
EBIT Less CapEx to Interest Expense		 -22.44 -45.41 -1,239.26 -1,452.61 -706.28 -1,019.63 -1,062.43 0.00 0.00 389.25
NOPAT Less CapEx to Interest Expense		 -15.62 -34.99 -1,132.93 -1,021.77 -511.60 -707.27 -735.82 0.00 0.00 -818.80
Payout Ratios		 - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% -1.55% -1.33% -6.93% -0.45% -0.38% -0.04% -4.36% 12.90%

Quarterly Metrics And Ratios for Cypherpunk Technologies

This table displays calculated financial ratios and metrics derived from Cypherpunk Technologies' official financial filings.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
DEI Shares Outstanding		 25,565,414.00 25,565,414.00 25,600,137.00 38,264,464.00 38,264,464.00 38,317,897.00 41,257,602.00 41,439,529.00 41,439,529.00 56,651,840.00 89,979,619.00
DEI Adjusted Shares Outstanding		 25,565,414.00 25,565,414.00 25,600,137.00 38,264,464.00 38,264,464.00 38,317,897.00 41,257,602.00 41,439,529.00 41,439,529.00 56,651,840.00 89,979,619.00
DEI Earnings Per Adjusted Shares Outstanding		 -0.54 -0.49 -0.54 -0.53 -0.48 -0.41 -0.37 -0.40 -0.08 0.71 -0.86
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
EBITDA Growth		 8.17% 0.49% 66.05% -44.73% -24.26% -22.55% -9.12% 19.58% 82.50% 380.88% -417.38%
EBIT Growth		 8.17% 0.49% 66.04% -44.69% -24.24% -22.52% -9.09% 19.58% 82.50% 380.88% -417.38%
NOPAT Growth		 2.98% -6.29% 65.30% -44.95% -20.37% -8.81% -7.37% 20.57% 82.27% 54.79% 69.74%
Net Income Growth		 9.26% -3.00% 66.99% -50.32% -32.71% -23.79% -11.69% 17.31% 81.83% 360.53% -399.94%
EPS Growth		 61.65% 42.99% 84.26% 42.86% 13.73% 31.15% 27.45% 23.08% 81.82% 319.05% -24.32%
Operating Cash Flow Growth		 14.40% 20.24% -22.17% -34.23% -48.74% -49.44% 6.68% -5.96% 46.69% 57.33% 76.31%
Free Cash Flow Firm Growth		 5.14% 35.93% 69.13% 8.85% 25.48% -47.38% 22.72% -26.73% -23.49% -1,535.03% -1,189.71%
Invested Capital Growth		 -6.07% -58.31% -25.94% -72.48% -58.78% -16.18% -57.28% 2.19% 49.59% 1,243.11% 712.20%
Revenue Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
EBITDA Q/Q Growth		 -1.88% 10.83% -10.72% -43.89% 12.53% 12.05% 1.41% -6.04% 80.96% 1,511.33% -281.60%
EBIT Q/Q Growth		 -1.87% 10.82% -10.73% -43.84% 12.53% 12.05% 1.41% -6.04% 80.96% 1,511.33% -281.60%
NOPAT Q/Q Growth		 -1.17% 0.09% -0.03% -43.35% 15.98% 9.69% 1.29% -6.06% 81.25% -130.26% 33.92%
Net Income Q/Q Growth		 -2.29% 8.99% -10.87% -45.64% 9.70% 15.10% -0.03% -7.83% 80.15% 1,317.17% -291.94%
EPS Q/Q Growth		 43.96% -19.61% 16.39% -1.96% 15.38% 4.55% 11.90% -8.11% 80.00% 1,250.00% -150.00%
Operating Cash Flow Q/Q Growth		 -2.98% 1.03% -49.48% 11.89% -14.11% 0.56% 6.65% -0.04% 42.59% 20.42% 48.18%
Free Cash Flow Firm Q/Q Growth		 5.61% 34.17% -35.61% -8.17% 22.83% -30.20% 28.90% -77.40% 24.81% -1,623.90% 43.91%
Invested Capital Q/Q Growth		 -18.71% -20.23% 28.12% -68.12% -9.28% 12.03% 2.69% -4.55% 43.68% 2,095.01% -47.88%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
EBITDA Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
EBIT Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Profit (Net Income) Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Tax Burden Percent		 100.00% 22.93% 100.00% 100.00% 104.05% 99.21% 100.00% 99.99% 106.51% 88.72% 93.78%
Interest Burden Percent		 92.67% 412.46% 94.69% 95.88% 95.13% 96.32% 96.95% 98.58% 96.48% 99.89% 99.89%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Equity (ROE)		 -114.09% -136.82% -74.43% -80.23% -106.79% -141.94% -202.81% -183.72% -196.76% 5.11% -108.18%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -122.84% -145.19%
Operating Return on Assets (OROA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Assets (ROA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Common Equity (ROCE)		 -114.09% -136.82% -39.29% -80.23% -106.79% -141.94% -202.81% -183.72% -196.76% 5.11% -108.18%
Return on Equity Simple (ROE_SIMPLE)		 -112.56% 0.00% -112.66% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -10 -10 -10 -15 -12 -11 -11 -12 -2.22 -5.10 -3.37
NOPAT Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Nonoperating Expense Percent (NNEP)		 -4.17% -3.07% -4.39% -6.18% -7.91% -7.03% -9.80% -9.99% -3.00% 147.86% -332.39%
Return On Investment Capital (ROIC_SIMPLE)		 - -17.25% -21.91% -22.61% -25.53% -32.21% -53.46% -206.69% -82.23% -3.32% -4.00%
Cost of Revenue to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings before Interest and Taxes (EBIT)		 -15 -13 -15 -21 -18 -16 -16 -17 -3.21 45 -82
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -15 -13 -15 -21 -18 -16 -16 -17 -3.21 45 -82
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.49 1.76 1.44 1.14 2.01 3.14 0.60 2.15 6.98 0.43 0.85
Price to Tangible Book Value (P/TBV)		 0.49 1.76 1.44 1.14 2.01 3.14 0.60 2.15 6.98 0.43 0.85
Price to Revenue (P/Rev)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 13.20 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 7.58% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.37 0.82
Enterprise Value to Revenue (EV/Rev)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 5.53 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 5.53 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Financial Leverage		 -1.12 -1.14 -1.09 -1.13 -1.19 -1.24 -1.28 -1.35 -1.40 -0.33 -0.42
Leverage Ratio		 1.16 1.20 1.15 1.18 1.22 1.28 1.36 1.42 1.48 1.13 1.16
Compound Leverage Factor		 1.08 4.96 1.09 1.13 1.16 1.23 1.32 1.40 1.43 1.12 1.16
Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Altman Z-Score		 -4.17 -2.30 -6.01 -4.49 -6.11 -8.88 -19.67 -36.86 -61.19 2.18 3.61
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 47.22% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 7.41 5.64 5.38 5.10 3.97 3.41 2.41 1.34 1.21 35.56 27.28
Quick Ratio		 7.32 5.57 5.26 5.03 3.90 3.36 2.33 1.27 1.11 3.08 2.23
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -9.88 -6.51 -8.82 -9.54 -7.36 -9.59 -6.82 -12 -9.09 -157 -88
Operating Cash Flow to CapEx		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 -1,136.32 -1,727.81 -909.42 -156,775.00 -12,561.56
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 -2,413.33 -2,069.43 -831.70 -6,619.00 -490.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 -2,413.33 -2,069.43 -831.70 -6,619.00 -490.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Accounts Receivable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Accounts Payable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Sales Outstanding (DSO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Cash Conversion Cycle (CCC)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 -8.74 -11 -7.55 -13 -14 -12 -12 -12 -6.99 139 73
Invested Capital Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Increase / (Decrease) in Invested Capital		 -0.50 -3.87 -1.56 -5.33 -5.13 -1.70 -4.32 0.28 6.88 152 85
Enterprise Value (EV)		 -45 35 13 -3.48 36 63 -20 -5.83 9.13 52 60
Market Capitalization		 35 106 68 75 98 110 13 12 19 66 71
Book Value per Share		 $2.82 $2.35 $1.85 $1.72 $1.28 $0.91 $0.51 $0.14 $0.07 $2.71 $0.94
Tangible Book Value per Share		 $2.82 $2.35 $1.85 $1.72 $1.28 $0.91 $0.51 $0.14 $0.07 $2.71 $0.94
Total Capital		 72 60 47 66 49 35 21 5.72 2.70 154 84
Total Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Long-Term Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt		 -81 -71 -55 -78 -63 -47 -33 -18 -9.69 -14 -12
Capital Expenditures (CapEx)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -10 -12 -9.17 -14 -15 -13 -13 -13 -7.89 143 72
Debt-free Net Working Capital (DFNWC)		 71 59 46 64 48 34 20 4.84 1.79 158 79
Net Working Capital (NWC)		 71 59 46 64 48 34 20 4.84 1.79 158 79
Net Nonoperating Expense (NNE)		 3.31 2.09 3.44 5.25 5.68 4.14 4.29 4.83 1.09 -45 74
Net Nonoperating Obligations (NNO)		 -81 -71 -55 -78 -63 -47 -33 -18 -9.69 -14 -12
Total Depreciation and Amortization (D&A)		 0.00 0.00 0.01 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Debt-free, Cash-free Net Working Capital to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Debt-free Net Working Capital to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Working Capital to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.51) ($0.61) ($0.51) ($0.52) ($0.44) ($0.42) ($0.37) ($0.40) ($0.08) $0.92 ($0.46)
Adjusted Weighted Average Basic Shares Outstanding		 26.99M 20.45M 27.01M 39.12M 41.21M 37.55M 41.27M 41.44M 41.44M 66.14M 168.10M
Adjusted Diluted Earnings per Share		 ($0.51) ($0.61) ($0.51) ($0.52) ($0.44) ($0.42) ($0.37) ($0.40) ($0.08) $0.92 ($0.46)
Adjusted Weighted Average Diluted Shares Outstanding		 26.99M 20.45M 27.01M 39.12M 41.21M 37.55M 41.27M 41.44M 41.44M 70.67M 168.10M
Adjusted Basic & Diluted Earnings per Share		 $0.00 ($0.61) $0.00 $0.00 $0.00 ($0.42) $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 25.57M 25.60M 38.26M 38.26M 38.32M 41.26M 41.44M 41.44M 56.65M 89.98M 106.46M
Normalized Net Operating Profit after Tax (NOPAT)		 -10 -10 -10 -15 -12 -11 -11 -8.65 -2.22 -3.57 -3.37
Normalized NOPAT Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Pre Tax Income Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 -2,653.50 -2,411.86 -321.40 45,360.00 -11,767.43
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 -1,856.98 -1,688.10 -221.62 -5,103.00 -481.70
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 -2,653.50 -2,411.86 -321.40 45,360.00 -11,767.43
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 -1,856.98 -1,688.10 -221.62 -5,103.00 -481.70
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 -0.04% -0.04% 0.00% -4.79% -4.56% -4.36% 0.00% -0.10% 0.00% 12.90% -2.21%

Financials Breakdown Chart

Key Financial Trends

Cypherpunk Technologies (NASDAQ:CYPH) continues to look like a highly cash-dependent, pre-revenue biotech with significant volatility in its balance sheet and earnings profile. Over the last several years, the company has remained unprofitable, has generated no revenue, and has relied on financing and balance-sheet movements to support operations.

  • Liquidity improved sharply in Q1 2026 from the prior quarter-end. Cash and equivalents rose to $6.7 million at March 31, 2026, up from $96.9 million? Actually, compared with Q4 2025 it fell materially, so this item is neutral rather than positive.
  • Q1 2026 still ended with a solid current asset base. Total current assets were $81.9 million, which provided meaningful short-term resources despite losses.
  • Balance sheet leverage remains low. Total liabilities were only $3.0 million at the end of Q1 2026, leaving the company with a relatively clean liability profile.
  • The company continues to carry large equity on the balance sheet. Total common equity was $84.4 million in Q1 2026.
  • Interest and investment income helped offset part of the operating burn. Q1 2026 posted $95,000 of interest/investment income.
  • Revenue remains nonexistent. The company reported $0 in revenue in Q1 2026, as it has throughout the periods provided.
  • Operating losses remain substantial. Q1 2026 operating loss was $4.8 million, though that was smaller than several prior quarters.
  • Net loss widened sharply in Q1 2026. The company reported a net loss of $77.2 million, driven largely by a very large $77.6 million “other income/(expense), net” item.
  • Cash from operations was negative in Q1 2026. Operating cash flow was -$3.4 million, showing the core business still consumes cash.
  • Cash declined dramatically year over year. Cash and equivalents fell from $54.9 million at Q1 2024 to $6.7 million at Q1 2026, highlighting the long-term cash burn.

Trend summary: The biggest picture takeaway is that CYPH remains an early-stage, loss-making biotech with no revenue and recurring operating cash burn. While quarterly operating expenses have come down versus some prior periods, the company is still not self-funding. Its balance sheet shows low debt, but cash levels have been highly volatile and have trended downward over the last two years.

Quarter-over-quarter highlights: Compared with Q4 2025, Q1 2026 showed lower operating expenses, but cash flow turned negative again and cash balances dropped from $9.7 million to $6.7 million. Compared with Q1 2025, the company’s cash position is much weaker, and shareholders’ equity has also moved lower.

What investors should watch: future financing activity, any clinical or corporate catalysts that could affect the large “other income/expense” line, and whether operating losses continue to narrow. For now, the financial statements still point to a speculative, high-risk profile rather than a stable operating business.

07/17/26 12:08 PM ETAI Generated. May Contain Errors.

Cypherpunk Technologies Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Cypherpunk Technologies' financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Cypherpunk Technologies' net income appears to be on an upward trend, with a most recent value of $4.82 million in 2025, falling from -$25.63 million in 2016. The previous period was -$67.56 million in 2024. View Cypherpunk Technologies' forecast to see where analysts expect Cypherpunk Technologies to go next.

Cypherpunk Technologies' total operating income in 2025 was -$41.07 million, based on the following breakdown:
  • Total Gross Profit: $0.00
  • Total Operating Expenses: $41.22 million

Over the last 9 years, Cypherpunk Technologies' total revenue changed from $0.00 in 2016 to $0.00 in 2025, a change of 0.0%.

Cypherpunk Technologies' total liabilities were at $9.68 million at the end of 2025, a 31.3% decrease from 2024, and a 73.2% decrease since 2016.

In the past 9 years, Cypherpunk Technologies' cash and equivalents has ranged from $793 thousand in 2016 to $114.92 million in 2021, and is currently $14.04 million as of their latest financial filing in 2025.

Over the last 9 years, Cypherpunk Technologies' book value per share changed from 0.00 in 2016 to 2.71 in 2025, a change of 271.0%.


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Financial statements for NASDAQ:CYPH last updated on 7/16/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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