The company's financial foundation appears precarious, evidenced by a current ratio that dropped as low as 0.17 in 2024Q4 and an accumulated deficit in retained earnings totaling $231.8 million as of 2026Q1.
| Total Current Assets | 8.8M | 7.25M | 2.77M | 20.71M | 27.64M | 22M | 33.39M |
| Cash & Short-Term Investments | 7.38M | 6.44M | 2.12M | 14.85M | 22.86M | 19.46M | 28.37M |
| Cash Only | 7.38M | 6.44M | 2.12M | 14.85M | 22.86M | 19.46M | 28.37M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 0 | 0 | 24.83K | 123.83K | 1.18M | 1.81M | 2.97M |
| Days Sales Outstanding | 30.31 | - | 158.05 | 11.94K | - | 47.06 | 541.3 |
| Inventory | 0 | 0 | 0 | 109.8K | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | 2.5K | - | - | - |
| Other Current Assets | 1.42M | 802.34K | 341.36K | 5.18M | 3.09M | 348.31K | 1.82M |
| Total Non-Current Assets | 61.26M | 44.52M | 900.56K | 8.07M | 3.39M | 9.66M | 515.41K |
| Property, Plant & Equipment | 25.76M | 16.76M | 718.36K | 5.04M | 2.59M | 1.27M | 396.38K |
| Fixed Asset Turnover | 0.10x | 0.05x | 0.08x | 0.00x | - | 11.01x | 5.05x |
| Goodwill | 24.94M | 20.59M | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 2.12M | 0 | 0 | 0 |
| Long-Term Investments | 100.77M | 6.94M | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 182.2K | 230.42K | 182.2K | 908.61K | 807.2K | 8.39M | 119.03K |
| Total Assets | 70.07M | 51.76M | 3.67M | 28.78M | 31.04M | 31.66M | 33.91M |
| Asset Turnover | 0.02x | 0.02x | 0.02x | 0.00x | - | 0.44x | 0.06x |
| Asset Growth % | 2838.43% | 1311.33% | -87.26% | -7.27% | -1.97% | -6.63% | - |
| Total Current Liabilities | 4.47M | 2.7M | 16.05M | 9.53M | 4.51M | 11.17M | 18.2M |
| Accounts Payable | 428.27K | 317.9K | 2.2M | 1.75M | 1.43M | 1.61M | 1.46M |
| Days Payables Outstanding | 671.2 | 382.58 | 204.45 | 39.98K | - | 368.22 | 666.88 |
| Short-Term Debt | 1.97M | 512.01K | 9.95M | 5.33M | 348.9K | 7.15M | 97.54K |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 2.07M | 1.87M | 2.98M | 135.03K | 147.55K | 81.09K | 14.06M |
| Current Ratio | 1.97x | 2.68x | 0.17x | 2.17x | 6.13x | 1.97x | 1.83x |
| Quick Ratio | 1.97x | 2.68x | 0.17x | 2.16x | 6.13x | 1.97x | 1.83x |
| Cash Conversion Cycle | -640.89 | - | - | -25.54K | - | - | - |
| Total Non-Current Liabilities | 7.1M | 8M | 717.5K | 10.25M | 9.29M | 19.95K | 404.5K |
| Long-Term Debt | 6.97M | 7.8M | 0 | 8.96M | 8.38M | 0 | 365.81K |
| Capital Lease Obligations | 1.15M | 206.6K | 717.5K | 1.29M | 907.64K | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 1 | 0 | 0 | 19.95K | 38.68K |
| Total Liabilities | 11.57M | 10.7M | 16.76M | 19.78M | 13.8M | 11.19M | 18.6M |
| Total Debt | 9.07M | 8.51M | 11.24M | 16.08M | 10.12M | 7.15M | 463.35K |
| Net Debt | 1.69M | 2.07M | 9.12M | 1.23M | -12.74M | -12.31M | -27.91M |
| Debt / Equity | 0.16x | 0.21x | - | 1.79x | 0.59x | 0.35x | 0.03x |
| Debt / EBITDA | -0.80x | - | - | - | - | - | - |
| Net Debt / EBITDA | -0.15x | - | - | - | - | - | - |
| Interest Coverage | -9.39x | -12.18x | -19.05x | -10.49x | -19.30x | -31.95x | -1161.20x |
| Total Equity | 58.49M | 41.06M | -13.1M | 9M | 17.23M | 20.47M | 15.3M |
| Equity Growth % | 4594.46% | 413.54% | -245.53% | -47.78% | -15.79% | 33.73% | - |
| Book Value per Share | 5.51 | 8.21 | -15.72 | 17.55 | 40.97 | 62.20 | 58.15 |
| Total Shareholders' Equity | 58.49M | 41.06M | -13.1M | 9M | 17.23M | 20.47M | 15.3M |
| Common Stock | 1.14K | 876 | 151 | 57 | 3.67K | 2.84K | 2.5K |
| Retained Earnings | -231.78M | -240.62M | -195.31M | -145.49M | -118.23M | -90.22M | -77.44M |
| Treasury Stock | 0 | -253.56K | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Strategic Pivot Execution Risk
As reported in financial statements, HYPD's total assets have fluctuated wildly between $3.7 million and $82.8 million over the last ten quarters, signaling that the company's financial foundation remains highly unstable as it attempts to transition from a medical device manufacturer to a digital asset-focused entity.
The erratic movement in asset levels suggests that the company is frequently reallocating capital to support its shifting strategic priorities. Investors should monitor whether this volatility stabilizes as the firm commits more fully to its validator-based business model.
Based on recent SEC filings, HYPD's debt levels have remained stubbornly elevated relative to its minimal revenue, with total debt peaking at $16.6 million in 2024Q1, which indicates that the company relies heavily on external financing to sustain its ongoing, loss-making operations.
The persistence of debt in the face of negative retained earnings suggests that the company is struggling to achieve a self-sustaining capital structure. This reliance on debt, combined with the lack of operational cash flow, implies a high risk of future dilution or liquidity constraints.
According to the latest quarterly data, HYPD's current ratio has oscillated significantly, dropping as low as 0.17 in 2024Q4, which highlights a persistent inability to maintain a sufficient liquidity buffer to cover short-term obligations without constant reliance on external capital injections.
The current ratio of 2.68 in 2025Q4 appears to be an outlier driven by temporary asset shifts rather than operational success. The company's history of sub-1.0 ratios suggests that its liquidity position is highly sensitive to the timing of financing rounds and crypto-market volatility.
As noted in historical balance sheets, HYPD's equity has been severely eroded by accumulated deficits, with retained earnings reaching -$240.6 million by 2025Q4, reflecting the long-term value destruction inherent in the company's legacy medical device operations and high administrative overhead.
The periodic dips into negative equity territory suggest that the company has historically operated on the brink of insolvency. The recent improvement in equity appears to be a function of accounting adjustments or capital raises rather than organic growth, warranting caution regarding the quality of the balance sheet.
Based on reported figures, the company's goodwill balance has fluctuated significantly, reaching $35.0 million in 2025Q3 before declining, which suggests that the valuation of acquired assets is highly subjective and potentially vulnerable to future impairment charges as the business model pivots away from medical devices.
The presence of significant goodwill on the balance sheet for a company with such poor operational performance is a red flag. Investors should consider the possibility that these intangible assets do not reflect true economic value, potentially masking even deeper underlying financial distress.
Quick answers to the most common questions about buying HYPD stock.
As of 2025, Hyperion DeFi, Inc. (HYPD) had total assets of $51.8M including $7.2M in current assets.
Hyperion DeFi, Inc. (HYPD) carries total debt of $8.5M, offset by $6.4M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Hyperion DeFi, Inc. (HYPD) has total shareholders' equity (book value) of $41.1M ($8.21 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Hyperion DeFi, Inc. (HYPD) reported a current ratio of 2.68x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.