Eyenovia(US:EYEN)2025-11-14 02:37Financial Performance - Hyperion DeFi generated annual revenue of approximately $1.3 billion, with a daily run-rate of $3-$3.5 million as of October 2025[146]. - For the three months ended September 30, 2025, the company reported revenue of $302,506, which was net staking revenue, with no cost of revenue recorded for this period[184]. - For the nine months ended September 30, 2025, revenue totaled $317,226, compared to $29,243 for the same period in 2024, representing a significant increase[193][194]. - The company had a net loss of $5.5 million for the nine months ended September 30, 2025, compared to a net loss of $29.9 million for the same period in 2024[170]. - The company reported a net loss of $5.5 million for the nine months ended September 30, 2025, compared to a net loss of $29.9 million for the same period in 2024[205]. - Cash and cash equivalents increased to $8.2 million as of September 30, 2025, up from $2.1 million at the end of 2024[203]. - Net cash used in operating activities was approximately $10.7 million for the nine months ended September 30, 2025, compared to $24.0 million in 2024[206]. - Net cash provided by financing activities totaled approximately $82.4 million for the nine months ended September 30, 2025, compared to $16.5 million in 2024[208]. - The company had an accumulated deficit of approximately $200.9 million as of September 30, 2025[205]. - The company has commitments to pay $3.5 million for accounts payable and $0.5 million for non-cancelable operating lease commitments in the next twelve months[209]. Research and Development - Research and development expenses for the three months ended September 30, 2025 totaled $373,854, a decrease of $3.1 million, or 89%, compared to $3.5 million for the same period in 2024[186]. - The company anticipates a decline in research and development expenses after the registration of the Optejet UFD device with the FDA in the coming months[178]. - Research and development expenses decreased by $10.8 million, or 86%, to $1.7 million for the nine months ended September 30, 2025, down from $12.5 million in 2024[195]. Operational Metrics - Daily trading volume on Hyperliquid exceeds $12 billion, with cumulative fees exceeding $700 million since inception[146]. - Cumulative cryptocurrency perpetuals trading volume on Hyperliquid has exceeded $3 trillion since inception[146]. - The Hyperliquid blockchain supports up to 200,000 transactions per second, enabling near-instant trade settlement[142]. - Approximately 99% of Hyperliquid revenues are allocated to the Hyperliquid Assistance Fund, which has cumulatively purchased 34.25 million HYPE tokens valued at $1.45 billion[146]. - The total supply of HYPE is 1 billion, with 31% issued in November 2024 and 38.88% reserved for future community emissions[144]. - As of September 30, 2025, approximately 834,050.16 HYPE were staked directly to the Kinetiq x Hyperion validator[145]. - The Kinetiq x Hyperion validator has over 13 million HYPE delegated as of October 31, 2025, enhancing network stability and security[148]. - The Hyperliquid network implemented HIP-3, allowing users with 500,000 HYPE staked to launch custom on-chain perpetual futures markets[150]. Expenses - General and administrative expenses for the three months ended September 30, 2025 totaled $2.6 million, a decrease of $1.1 million, or 30%, compared to $3.7 million for the same period in 2024[188]. - Selling, general and administrative expenses increased by $1.5 million, or 14%, totaling $12.6 million for the nine months ended September 30, 2025, compared to $11.1 million in 2024[196]. - The company has ceased sales efforts for its ophthalmological products, resulting in limited revenue from such products during the three and nine months ended September 30, 2025[176]. Financing Activities - The company received approximately $50 million in gross proceeds from a private placement, issuing 5,128,205 shares of Series A Convertible Non-Voting Preferred Stock and warrants for up to 30,769,230 shares of common stock at an exercise price of $3.25 per share[160]. - The company entered into an amendment to increase the aggregate offering amount under its at-the-market offering program from $50 million to $100 million[163]. - The company issued warrants to purchase an aggregate of 350,000 shares of common stock at an exercise price of $4.00 per share in connection with the Fourth Amendment to the Loan and Security Agreement[167]. Product Performance - The Optejet UFD demonstrated a 98% success rate in accurate drug delivery upon the first attempt, compared to 50% for traditional eye drops[156]. - Realized gains on HYPE digital tokens were $6.9 million for the nine months ended September 30, 2025, with unrealized gains of $6.4 million[198].