CYPH on Nasdaq
CYPHERPUNK TECHNOLOGIES INC.
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Last updated Oct 16, 2026.
Overview
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Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2021
Where the money goes
Where each dollar of revenue went, fiscal 2021
- Research and development100¢$32.2M
- Interest0¢$41.0K
- Income tax0¢$24.0K
Out of $1.5M in revenue.3 The company lost money this year.
Financial statements
Every line of the income statement in the latest annual report, as filed.9
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Research and development | $25.7M | $57.2M |
| General and administrative | $10.9M | $12.8M |
| Restructuring charges | $4.5M | |
| Total operating expenses | $41.1M | $70.1M |
| Loss from operations | -$41.1M | -$70.1M |
| Interest income | $916.0K | $3.1M |
| Interest expense | -$24.0K | |
| Australian research and development incentives | -$157.0K | |
| Change in fair value of embedded derivative | $50.4M | |
| Foreign currency gain (loss) | $5.0K | -$42.0K |
| Income (loss) before income taxes | $10.1M | -$67.0M |
| Provision for income taxes | -$5.3M | -$585.0K |
| Net income (loss) | $4.8M | -$67.6M |
| Dividend attributable to down round feature of warrants | -$234.0K | |
| Net income (loss) attributable to common stockholders | $4.8M | -$67.8M |
| Basic (in dollars per share) | $0.07 | -$1.81 |
| Diluted (in dollars per share) | $0.07 | -$1.81 |
| Basic (in shares) | 66.1M shares | 37.6M shares |
| Diluted (in shares) | 70.7M shares | 37.6M shares |
Every line of the balance sheet in the latest annual report, as filed.9
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Cash and cash equivalents | $14.0M | $47.2M | |
| Digital assets receivable | $147.4M | ||
| Research and development incentive receivable | $602.0K | $704.0K | |
| Prepaid expenses and other current assets | $40.0K | $86.0K | |
| Total current assets | $162.1M | $48.0M | |
| Right of use assets, net | $38.0K | $262.0K | |
| Deferred costs | $401.0K | ||
| Deposits | $662.0K | $823.0K | |
| Total assets | $163.2M | $49.1M | |
| Accounts payable | $2.0M | $4.7M | |
| Accrued expenses | $2.1M | $8.5M | |
| Income tax payable | $472.0K | $531.0K | |
| Lease liability | $38.0K | $266.0K | |
| Total current liabilities | $4.6M | $14.1M | |
| Deferred tax liability | $5.1M | ||
| Total liabilities | $9.7M | $14.1M | |
| Common stock, $0.001 par value; 490,000,000 and 240,000,000 shares authorized; 83,851,051 and 38,329,894 shares issued and outstanding as of December 31, 2025 and 2024, respectively | $84.0K | $38.0K | |
| Stock subscription receivable | -$150.0K | ||
| Additional paid-in capital | $616.2M | $502.5M | |
| Accumulated other comprehensive loss | -$95.0K | -$120.0K | |
| Accumulated deficit | -$462.5M | -$467.4M | |
| Total stockholders' equity | $153.5M | $35.0M | $60.1M |
| Total liabilities and stockholders' equity | $163.2M | $49.1M | |
| Preferred stock par value (in dollars per share) | $0.00 | $0.00 | |
| Preferred Stock, shares authorized | 10.0M shares | 10.0M shares | |
| Preferred stock shares issued | 0 shares | 0 shares | |
| Preferred Stock, shares outstanding | 0 shares | 0 shares | |
| Common stock, par value (in dollars per share) | $0.00 | $0.00 | |
| Common stock, shares authorized | 490.0M shares | 240.0M shares | |
| Common stock, shares issued | 83.9M shares | 38.3M shares | |
| Common stock, shares outstanding | 83.9M shares | 38.3M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow in the latest annual report, as filed.9
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Net income (loss) | $4.8M | -$67.6M |
| Depreciation expense | $0 | $5.0K |
| Non-cash operating lease expense | $224.0K | $415.0K |
| Deferred income taxes | $5.1M | |
| Stock-based compensation expense | $4.9M | $5.5M |
| Change in fair value of embedded derivative | -$50.4M | |
| Foreign currency (gain) loss | -$5.0K | $42.0K |
| Prepaid expenses and other assets | $1.0M | $100.0K |
| Research and development incentive receivable | $149.0K | |
| Accounts payable and accrued expenses | -$10.4M | $902.0K |
| Income tax payable | -$95.0K | $562.0K |
| Lease liability | -$228.0K | -$417.0K |
| Other assets | $1.0M | $143.0K |
| Net cash used in operating activities | -$43.9M | -$60.3M |
| Purchases of digital assets | -$97.0M | |
| Net cash used in investing activities | -$97.0M | |
| Proceeds from April 2024 Private Placement | $40.0M | |
| Payment of deferred offering costs | -$622.0K | -$2.9M |
| Priciple payments of insurance financing | -$440.0K | |
| Proceeds from the exercise of warrants | $41.0K | |
| Proceeds from the exercise of stock options | $16.0K | $92.0K |
| Net cash provided by financing activities | $107.6M | $37.2M |
| Effect of exchange rate changes on cash and cash equivalents | $39.0K | -$279.0K |
| Net decrease in cash and cash equivalents | -$33.2M | -$23.4M |
| Remeasurement of right-of-use asset and lease liability | $420.0K | |
| Dividend attributable to the down round feature of 2017 Warrants | $234.0K | |
| Prepayment of insurance through third-party financing | $440.0K | |
| Deferred offering costs included in accounts payable | $638.0K | |
| Issuance of common stock in exchange for stock subscription receivable | $150.0K |
Former names
Recent filings
- Oct 14, 20264
- Oct 14, 20264
- Sep 25, 20264 OWNERSHIP DOCUMENT
- Sep 25, 20264 OWNERSHIP DOCUMENT
- Sep 25, 20263 OWNERSHIP DOCUMENT
- Sep 22, 20268-K
- Sep 2, 20268-K
- Aug 27, 20264 OWNERSHIP DOCUMENT
- Aug 26, 2026144
- Aug 24, 20263 OWNERSHIP DOCUMENT
- Aug 24, 20264 OWNERSHIP DOCUMENT
- Aug 19, 20264
- Aug 19, 2026SCHEDULE 13D/A
- Aug 19, 20264
- Aug 18, 20268-K
Every filing from the last three years, summarized. The full record is on SEC EDGAR.1
Sources
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