What is Cypherpunk Technologies Inc's earnings per share (EPS)?

Cypherpunk Technologies Inc (CYPH) reported diluted earnings per share of $0.07 for fiscal year 2025. This represents a 103.9% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Cypherpunk Technologies Inc Financials

CYPH

Source SEC Filings (10-K/10-Q) Updated Mar 31, 2026 Currency USD FYE December

This page shows Cypherpunk Technologies Inc (CYPH) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 10 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI CYPH FY2025 2026-05-14

Cypherpunk’s operating engine still burns cash, while capital raises reshape the balance sheet more than earnings do.

FY2025’s move to positive net income was not a cash inflection: net income reached $5.0M, yet operating cash flow stayed at -$43.9M and operating loss remained -$41.1M. At the same time, financing supplied $107.6M while cash ended at only $14.0M, which means new capital was largely redirected into other assets rather than turning the business self-funding.

The improvement in reported operating performance looks more like expense retrenchment than scale economics. R&D fell from $73.2M in FY2023 to $25.7M in FY2025, yet operating cash flow remained negative, so the company reduced the burn without demonstrating that operations now support themselves.

The balance sheet became less liability-heavy in FY2025, with liabilities of only $9.7M against equity of $153.5M. But that sturdier capital base came from external financing, not accumulated profits, because retained earnings remained deeply negative and FY2024 also required $37.2M of financing cash just to offset operating outflows.

Financial Health Signals

Financial Profile 33/100

Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of Cypherpunk Technologies Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Leverage

100

Cypherpunk Technologies Inc carries a low D/E ratio of 0.06, meaning only $0.06 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

100

With a current ratio of 35.56, Cypherpunk Technologies Inc holds $35.56 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.

Returns

Cypherpunk Technologies Inc generates a 3.3% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is up from -194.0% the prior year.

Piotroski F-Score Weak

3/9

Cypherpunk Technologies Inc passes 3 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass.

Earnings Quality Low Quality

-8.78x

For every $1 of reported earnings, Cypherpunk Technologies Inc generates $-8.78 in operating cash flow (-$43.9M OCF vs $5.0M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Interest Coverage At Risk

-1711.1x

Cypherpunk Technologies Inc earns $-1711.1 in operating income for every $1 of interest expense (-$41.1M vs $24K). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

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Earnings & Revenue

Revenue

N/A

EBITDA

-$41.1M

YoY+41.4%

Cypherpunk Technologies Inc's EBITDA was -$41.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 41.4% from the prior year.

Net Income

$5.0M

YoY+107.4%

Cypherpunk Technologies Inc reported $5.0M in net income in fiscal year 2025. This represents an increase of 107.4% from the prior year.

EPS (Diluted)

$0.07

YoY+103.9%

Cypherpunk Technologies Inc earned $0.07 per diluted share (EPS) in fiscal year 2025. This represents an increase of 103.9% from the prior year.

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

$14.0M

YoY-70.3%

5Y CAGR-23.1%

Cypherpunk Technologies Inc held $14.0M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

84M

YoY+118.8%

Cypherpunk Technologies Inc had 84M shares outstanding in fiscal year 2025. This represents an increase of 118.8% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

3.3%

YoY+197.3pp

5Y CAGR+62.2pp

Cypherpunk Technologies Inc's ROE was 3.3% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 197.3 percentage points from the prior year.

Capital Allocation

R&D Spending

$25.7M

YoY-55.1%

5Y CAGR+4.7%

Cypherpunk Technologies Inc invested $25.7M in research and development in fiscal year 2025. This represents a decrease of 55.1% from the prior year.

Share Buybacks

N/A

Capital Expenditures

N/A

CYPH Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	N/A	N/A	N/A	N/A	$1.5M0.0%	$1.5M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	$25.7M-55.1%	$57.2M-21.9%	$73.2M+62.9%	$45.0M+39.8%	$32.2M+57.5%	$20.4M
SG&A Expenses	$10.9M-15.4%	$12.8M-7.0%	$13.8M+17.0%	$11.8M+9.6%	$10.8M+12.0%	$9.6M
Operating Income	-$41.1M+41.4%	-$70.1M+19.5%	-$87.0M-53.3%	-$56.8M-37.0%	-$41.4M-45.2%	-$28.5M
Interest Expense	$24K	N/A	N/A	$54K+31.7%	$41K+5.1%	$39K
Income Tax	$5.3M+798.3%	$585K	N/A	$147K+712.5%	-$24K-1100.0%	-$2K
Net Income	$5.0M+107.4%	-$68.0M+16.0%	-$81.0M-48.4%	-$54.6M-34.5%	-$40.6M-47.5%	-$27.5M
EPS (Diluted)	$0.07+103.9%	$-1.81+54.5%	$-3.98+17.4%	$-4.82	$-0.47+25.4%	$-0.63

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	$161K	N/A	$1.2M-88.2%	$10.5M-18.4%	$12.9M	N/A	$14.9M-16.6%	$17.9M
SG&A Expenses	$4.7M	N/A	$1.9M+5.6%	$1.8M-39.6%	$3.0M	N/A	$2.9M-12.7%	$3.4M
Operating Income	-$4.8M	N/A	-$3.2M+81.2%	-$16.9M-6.1%	-$15.9M	N/A	-$17.9M+16.0%	-$21.3M
Interest Expense	$7K	N/A	$10K+42.9%	$7K+16.7%	$6K	N/A	N/A	N/A
Income Tax	-$5.1M	N/A	$202K	N/A	N/A	N/A	$708K	N/A
Net Income	-$77.2M	N/A	-$3.3M+80.2%	-$16.6M-7.8%	-$15.4M	N/A	-$18.2M+9.7%	-$20.1M
EPS (Diluted)	$-0.46	N/A	$-0.08+80.0%	$-0.40-8.1%	$-0.37	N/A	$-0.44+15.4%	$-0.52

CYPH Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$163.2M+232.2%	$49.1M-32.5%	$72.8M+3.5%	$70.4M-40.3%	$117.9M+116.9%	$54.4M
Current Assets	$162.1M+237.4%	$48.0M-32.9%	$71.6M+5.4%	$68.0M-41.9%	$116.9M+123.6%	$52.3M
Cash & Equivalents	$14.0M-70.3%	$47.2M-33.1%	$70.6M+7.9%	$65.5M-43.0%	$114.9M+120.7%	$52.1M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$9.7M-31.3%	$14.1M+11.0%	$12.7M+10.4%	$11.5M+14.6%	$10.0M+29.8%	$7.7M
Current Liabilities	$4.6M-67.6%	$14.1M+11.0%	$12.7M+13.0%	$11.2M+12.4%	$10.0M+35.5%	$7.4M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$153.5M+338.0%	$35.0M-41.7%	$60.1M+2.2%	$58.9M-45.4%	$107.9M+131.3%	$46.7M
Retained Earnings	-$462.5M+1.0%	-$467.4M-17.0%	-$399.6M-25.6%	-$318.2M-20.7%	-$263.6M-18.2%	-$223.0M

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Total Assets	$87.4M-46.5%	$163.2M+1331.5%	$11.4M-43.1%	$20.0M-42.5%	$34.9M-29.0%	$49.1M-24.5%	$65.0M-20.1%	$81.4M
Current Assets	$81.9M-49.5%	$162.1M+1443.9%	$10.5M-45.2%	$19.2M-43.4%	$33.9M-29.5%	$48.0M-24.7%	$63.8M-19.8%	$79.6M
Cash & Equivalents	$6.7M-52.3%	$14.0M+44.9%	$9.7M-46.6%	$18.1M-44.6%	$32.7M-30.8%	$47.2M-24.8%	$62.8M-19.9%	$78.5M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$3.0M-69.0%	$9.7M+11.2%	$8.7M-39.2%	$14.3M+2.0%	$14.0M-0.3%	$14.1M-12.5%	$16.1M+2.9%	$15.6M
Current Liabilities	$3.0M-34.1%	$4.6M-47.6%	$8.7M-39.2%	$14.3M+2.0%	$14.0M-0.3%	$14.1M-12.5%	$16.1M+3.2%	$15.6M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$84.4M-45.0%	$153.5M+5596.0%	$2.7M-52.9%	$5.7M-72.6%	$20.8M-40.5%	$35.0M-28.4%	$49.0M-25.6%	$65.8M
Retained Earnings	-$539.7M-16.7%	-$462.5M+8.0%	-$502.8M-0.7%	-$499.4M-3.4%	-$482.8M-3.3%	-$467.4M-3.4%	-$451.9M-4.2%	-$433.8M

CYPH Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	-$43.9M+27.2%	-$60.3M-37.8%	-$43.8M+10.8%	-$49.0M-39.5%	-$35.2M-35.4%	-$26.0M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	-$97.0M	N/A	$49.0M	N/A	N/A	$25K
Financing Cash Flow	$107.6M+189.5%	$37.2M+124046.7%	-$30K+85.7%	-$210K-100.2%	$98.0M+32.5%	$74.0M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Operating Cash Flow	-$3.4M+48.2%	-$6.6M+20.4%	-$8.3M+42.6%	-$14.5M0.0%	-$14.5M+6.7%	-$15.5M+0.6%	-$15.6M-14.1%	-$13.7M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	-$9.0M	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Financing Cash Flow	$5.1M-95.3%	$108.0M+89314.9%	-$121K-1.7%	-$119K-95.1%	-$61K-158.7%	$104K+257.6%	-$66K-100.2%	$37.1M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

CYPH Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	-2761.7%-859.1pp	-1902.6%
Net Margin	N/A	N/A	N/A	N/A	-2705.8%-871.5pp	-1834.3%
Return on Equity	3.3%+197.3pp	-194.0%-59.3pp	-134.7%-41.9pp	-92.8%-55.1pp	-37.6%+21.4pp	-59.0%
Return on Assets	3.1%+141.5pp	-138.4%-27.2pp	-111.2%-33.6pp	-77.6%-43.2pp	-34.4%+16.2pp	-50.6%
Current Ratio	35.56+32.1	3.41-2.2	5.64-0.4	6.05-5.6	11.70+4.6	7.09
Debt-to-Equity	0.06-0.3	0.40+0.2	0.21+0.0	0.20+0.1	0.09-0.1	0.17
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	-91.5%	N/A	-122.6%+168.5pp	-291.1%-217.0pp	-74.1%	N/A	-37.1%-6.5pp	-30.6%
Return on Assets	-88.3%	N/A	-29.0%+54.1pp	-83.0%-38.8pp	-44.3%	N/A	-27.9%-3.2pp	-24.7%
Current Ratio	27.28-8.3	35.56+34.4	1.21-0.1	1.34-1.1	2.41-1.0	3.41-0.6	3.97-1.1	5.10
Debt-to-Equity	0.04-0.0	0.06-3.2	3.23+0.7	2.51+1.8	0.67+0.3	0.40+0.1	0.33+0.1	0.24
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Frequently Asked Questions

Is Cypherpunk Technologies Inc profitable?

Yes, Cypherpunk Technologies Inc (CYPH) reported a net income of $5.0M in fiscal year 2025.

What is Cypherpunk Technologies Inc's EBITDA?

Cypherpunk Technologies Inc (CYPH) had EBITDA of -$41.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is Cypherpunk Technologies Inc's return on equity (ROE)?

Cypherpunk Technologies Inc (CYPH) has a return on equity of 3.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Cypherpunk Technologies Inc's operating cash flow?

Cypherpunk Technologies Inc (CYPH) generated -$43.9M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Cypherpunk Technologies Inc's total assets?

Cypherpunk Technologies Inc (CYPH) had $163.2M in total assets as of fiscal year 2025, including both current and long-term assets.

How much does Cypherpunk Technologies Inc spend on research and development?

Cypherpunk Technologies Inc (CYPH) invested $25.7M in research and development during fiscal year 2025.

How many shares does Cypherpunk Technologies Inc have outstanding?

Cypherpunk Technologies Inc (CYPH) had 84M shares outstanding as of fiscal year 2025.

What is Cypherpunk Technologies Inc's current ratio?

Cypherpunk Technologies Inc (CYPH) had a current ratio of 35.56 as of fiscal year 2025, which is generally considered healthy.

What is Cypherpunk Technologies Inc's debt-to-equity ratio?

Cypherpunk Technologies Inc (CYPH) had a debt-to-equity ratio of 0.06 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Cypherpunk Technologies Inc's return on assets (ROA)?

Cypherpunk Technologies Inc (CYPH) had a return on assets of 3.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Cypherpunk Technologies Inc's cash runway?

Based on fiscal year 2025 data, Cypherpunk Technologies Inc (CYPH) had $14.0M in cash against an annual operating cash burn of $43.9M. This gives an estimated cash runway of approximately 4 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.

What is Cypherpunk Technologies Inc's Piotroski F-Score?

Cypherpunk Technologies Inc (CYPH) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Cypherpunk Technologies Inc's earnings high quality?

Cypherpunk Technologies Inc (CYPH) has an earnings quality ratio of -8.78x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Cypherpunk Technologies Inc cover its interest payments?

Cypherpunk Technologies Inc (CYPH) has an interest coverage ratio of -1711.1x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is Cypherpunk Technologies Inc?

Cypherpunk Technologies Inc (CYPH) scores 33 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.