Eyenovia(US:EYEN)2025-11-13 21:09Financial Performance - Hyperion DeFi reported a record net income of $6.6 million for Q3 2025, a significant increase from a net loss of $(7.9) million in Q3 2024[4][7]. - Adjusted revenue for Q3 2025 was $361,277, up from $1,625 in Q3 2024, representing a substantial year-over-year growth[4][7]. - Income from operations rose to $4.4 million in Q3 2025, compared to a loss of $(7.3) million in Q3 2024[7]. - Total revenue for the three months ended September 30, 2025, was $302,506, a significant increase from $1,625 in the same period of 2024[28]. - Net income for the three months ended September 30, 2025, was $6,625,582, compared to a net loss of $7,887,853 in the same period of 2024[28]. - The net loss for the nine months ended September 30, 2025, was $5,548,870, a significant improvement compared to a net loss of $29,863,653 for the same period in 2024[39]. - Adjusted EBITDA for the three months ended September 30, 2025, is $7,951,003, derived from Net Income ($6,625,582) adjusted for various non-cash items and unrealized accretion[61]. Revenue Projections - The company anticipates Q4 2025 adjusted revenues between $475,000 and $515,000, indicating a quarter-on-quarter growth of 31% to 43% compared to Q3 2025[11]. Cash Flow and Expenses - The company’s net cash used in operating activities decreased from $(24.0) million for the nine months ended September 30, 2024, to $(10.7) million for the same period in 2025[7]. - Research and development expenses decreased by 89% from $3.5 million in Q3 2024 to $0.4 million in Q3 2025[7]. - Cash flows from operating activities resulted in a net cash used of $10,712,616 for the nine months ended September 30, 2025, compared to $24,010,082 in 2024, indicating improved cash management[39]. Assets and Liabilities - Total assets as of September 30, 2025, were $82,789,907, a substantial increase from $3,667,759 as of December 31, 2024[26]. - Total current liabilities decreased to $4,037,092 as of September 30, 2025, from $16,046,207 as of December 31, 2024[26]. - Stockholders' equity increased to $70,755,032 as of September 30, 2025, compared to a deficit of $13,095,952 as of December 31, 2024[26]. Stock and Financing Activities - The company issued 1,127,100 shares of common stock in a market offering, raising approximately $5.66 million[30]. - The company raised $50,000,000 from the sale of preferred stock and warrants in a private placement during the nine months ended September 30, 2025[39]. - Proceeds from the sale of common stock and warrants in direct offerings amounted to $30,998,213 for the nine months ended September 30, 2025[39]. Token and Digital Assets - The number of HYPE tokens staked at the Kinetiq x Hyperion Validator increased by 60% month-over-month, from 8.2 million as of September 30, 2025, to 13.2 million as of October 31, 2025[4][7]. - The company reported realized gains of $6,942,713 from digital assets for the three months ended September 30, 2025[28]. - The total token count for Gross HYPE Tokens is 1,720,549, with a token price of $45.19 as of September 30, 2025[54]. Non-GAAP Financial Measures - Adjusted Revenue and other non-GAAP financial measures are used by the company to provide a more comprehensive view of its financial performance[43]. - The company emphasizes that Adjusted EBITDA provides additional insights into operating performance, excluding non-cash and unpredictable items[48]. - The company acknowledges material limitations associated with the use of non-GAAP financial measures, which should be considered by investors[49]. - The unrealized staking rewards on HiHYPE are not recognized from a GAAP Revenue perspective, impacting the overall revenue reporting[52].