HYPERION DEFI, INC. HYPD
We were organized as a corporation under the laws of the State of Florida on March 12, 2014 under the name "PGP Holdings V, Inc." On May 5, 2014, we changed our name to Eyenovia, Inc. On October 6, 2014, we reincorporated in the State of Delaware by merging into Eyenovia, Inc., a Delaware corporation. On July 1, 2025, we changed our name to Hyperion DeFi, Inc. Our principal executive office is located at 23461 S. Pointe Drive, Suite 390, Laguna Hills, CA 92653, and our telephone number is (833) 393-6684. We maintain a website at www.hyperiondefi.com, to which we regularly post copies of our press releases as well as additional information about us. The information contained on, or that can be accessed through, our website is not a part of this report. We have included our website address in this report solely as an inactive textual reference.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $813.5K | $57.3K | $3.8K | — | $14.0M | $2.0M | — | — | — | — |
| Cost of revenue | $303.3K | $3.9M | $16.0K | — | $1.6M | $800.0K | — | — | — | — |
| Gross profit | $510.2K | -$3.9M | -$12.2K | — | $12.4M | $1.2M | — | — | — | — |
| R&D | $1.9M | $14.5M | $13.0M | $13.4M | $14.9M | $13.4M | $14.1M | $11.1M | $3.8M | $3.0M |
| SG&A | $17.2M | $14.3M | $12.4M | $13.5M | $10.6M | $7.6M | $7.2M | $6.1M | $1.3M | $568.8K |
| Total operating expenses | $47.2M | $44.9M | $25.4M | $26.9M | $25.4M | $21.0M | $21.3M | $17.3M | $5.1M | $3.5M |
| Operating income | -$46.7M | -$48.7M | -$25.4M | -$26.9M | -$13.0M | -$19.8M | -$21.3M | -$17.3M | -$5.1M | -$3.5M |
| Interest expense | $1.6M | $2.5M | $2.4M | $1.4M | $387.8K | $17.0K | — | — | — | — |
| Pre-tax income | -$45.3M | — | — | — | — | — | -$21.2M | -$17.3M | -$5.1M | -$3.5M |
| Income tax | $30.9K | — | — | — | — | — | $0 | $0 | $0 | $0 |
| Net income | -$45.3M | -$49.8M | -$27.3M | -$28.0M | -$12.8M | -$19.8M | -$21.2M | -$17.3M | -$5.1M | -$3.5M |
| EPS, basic | -9.40 | -59.81 | -53.15 | -0.83 | -0.49 | -0.94 | — | — | — | — |
| EPS, diluted | -9.40 | -59.81 | -53.15 | -0.83 | -0.49 | -0.94 | -1.47 | -1.82 | -2.19 | -1.56 |
| Shares, diluted (wtd. avg.) | $5.0M | $833.0K | $512.9K | $33.6M | $26.3M | $21.1M | — | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $6.4M | $2.1M | $14.8M | $22.9M | $27.3M | $28.4M | $14.2M | $19.7M | $5.2M | $3.4M |
| Inventory | — | — | $109.8K | — | — | — | — | — | — | — |
| Total current assets | $7.2M | $2.8M | $20.7M | $27.6M | $22.0M | $33.4M | $14.3M | $19.9M | $5.3M | $3.4M |
| Property, plant and equipment | — | — | $3.4M | $1.3M | $1.3M | $396.4K | $230.5K | $36.7K | $28.0K | $43.2K |
| Other intangibles | — | — | $2.1M | — | — | — | — | — | — | — |
| Total assets | $51.8M | $3.7M | $28.8M | $31.0M | $31.7M | $33.9M | $14.7M | $20.0M | $5.6M | $3.4M |
| Accounts payable | $317.9K | $2.0M | $1.8M | $1.4M | $1.6M | $1.5M | $1.5M | $1.5M | $246.4K | $302.0K |
| Total current liabilities | $2.7M | $16.0M | $9.5M | $4.5M | $11.2M | $18.2M | $2.9M | $3.1M | $552.6K | $423.7K |
| Total liabilities | $10.7M | $16.8M | $19.8M | $13.8M | $11.2M | $18.6M | $3.0M | $3.1M | $552.6K | — |
| Retained earnings | -$240.6M | -$195.3M | -$145.5M | -$118.2M | -$90.2M | -$77.4M | -$57.7M | -$36.5M | -$19.3M | -$14.1M |
| Total equity | $41.1M | -$13.1M | $9.0M | $17.2M | $20.5M | $15.3M | $11.7M | $16.9M | $5.1M | $3.0M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$14.8M | -$30.1M | -$23.8M | -$25.1M | -$20.9M | -$6.4M | -$18.9M | -$13.1M | -$4.7M | -$3.2M |
| Depreciation and amortisation | — | $1.1M | $783.2K | $307.4K | $221.6K | $95.4K | $15.3K | $19.1K | $25.5K | $12.8K |
| Stock-based compensation | $6.4M | $1.7M | $2.5M | $3.8M | $2.9M | $2.5M | $2.5M | $1.6M | $412.3K | $2.7K |
| Capital expenditure | — | $161.5K | $2.8M | $540.4K | $1.2M | $261.3K | $166.6K | $27.9K | $10.2K | $43.1K |
| Investing cash flow | -$72.0M | -$161.5K | -$4.0M | -$874.7K | -$1.6M | -$261.3K | -$166.6K | -$27.9K | -$10.2K | -$43.1K |
| Financing cash flow | $91.0M | $17.6M | $19.8M | $21.5M | $21.5M | $20.9M | $13.5M | $27.6M | $6.6M | $4.1M |
| Buybacks | $253.6K | — | — | — | — | — | — | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001104659-26-055725.
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