Grayscale Horizen Trust Financials

HZEN

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE September

This page shows Grayscale Horizen Trust (HZEN) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 5 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).

Key Financial Metrics

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Earnings & Revenue

Revenue

N/A

EBITDA

N/A

Net Income

-$3.9M

YoY-4146.9%

Grayscale Horizen Trust reported -$3.9M in net income in fiscal year 2025. This represents a decrease of 4146.9% from the prior year.

EPS (Diluted)

N/A

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

N/A

Dividends Per Share

N/A

Shares Outstanding

11M

YoY+67.1%

Grayscale Horizen Trust had 11M shares outstanding in fiscal year 2025. This represents an increase of 67.1% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

-51.9%

YoY-53.9pp

Grayscale Horizen Trust's ROE was -51.9% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 53.9 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

N/A

HZEN Income Statement

Metric	FY25	FY24	FY23	FY22	FY21
Revenue	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A
Interest Expense	N/A	N/A	N/A	N/A	N/A
Income Tax	N/A	N/A	N/A	N/A	N/A
Net Income	-$3.9M-4146.9%	$96K+102.4%	-$4.0M+88.6%	-$35.2M-198.0%	$36.0M
EPS (Diluted)	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
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	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	$1.2M	N/A	-$1.4M+92.2%	-$18.2M-218.5%	$15.4M	N/A	-$4.9M-246.0%	$3.3M
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

HZEN Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21
Total Assets	$7.5M+56.9%	$4.8M+2.1%	$4.7M-46.3%	$8.7M-80.2%	$43.9M
Current Assets	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	N/A	N/A	N/A	N/A	N/A
Inventory	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$0	$0	$0	$0	$0
Current Liabilities	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	N/A	N/A	N/A	N/A	N/A
Total Equity	$7.5M+56.9%	$4.8M+2.1%	$4.7M-46.3%	$8.7M-80.2%	$43.9M
Retained Earnings	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
Total Assets	$8.7M+15.9%	$7.5M+5.4%	$7.1M-15.6%	$8.4M-67.3%	$25.7M+439.4%	$4.8M+21.5%	$3.9M-55.4%	$8.8M
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
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	$0	$0	$0	$0	$0	$0	$0	$0
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$8.7M+15.9%	$7.5M+5.4%	$7.1M-15.6%	$8.4M-67.3%	$25.7M+439.4%	$4.8M+21.5%	$3.9M-55.4%	$8.8M
Retained Earnings	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

HZEN Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21
Gross Margin	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A
Return on Equity	-51.9%-53.9pp	2.0%+88.1pp	-86.1%+319.5pp	-405.6%-487.5pp	81.9%
Return on Assets	-51.9%-53.9pp	2.0%+88.1pp	-86.1%+319.5pp	-405.6%-487.5pp	81.9%
Current Ratio	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	0.000.0	0.000.0	0.000.0	0.000.0	0.00
FCF Margin	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	13.7%	N/A	-20.0%+196.8pp	-216.8%-276.6pp	59.8%	N/A	-124.4%-162.4pp	38.0%
Return on Assets	13.7%	N/A	-20.0%+196.8pp	-216.8%-276.6pp	59.8%	N/A	-124.4%-162.4pp	38.0%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	0.000.0	0.000.0	0.000.0	0.000.0	0.000.0	0.000.0	0.000.0	0.00
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Frequently Asked Questions

Is Grayscale Horizen Trust profitable?

No, Grayscale Horizen Trust (HZEN) reported a net income of -$3.9M in fiscal year 2025.

What is Grayscale Horizen Trust's return on equity (ROE)?

Grayscale Horizen Trust (HZEN) has a return on equity of -51.9% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What are Grayscale Horizen Trust's total assets?

Grayscale Horizen Trust (HZEN) had $7.5M in total assets as of fiscal year 2025, including both current and long-term assets.

How many shares does Grayscale Horizen Trust have outstanding?

Grayscale Horizen Trust (HZEN) had 11M shares outstanding as of fiscal year 2025.

What is Grayscale Horizen Trust's debt-to-equity ratio?

Grayscale Horizen Trust (HZEN) had a debt-to-equity ratio of 0.00 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Grayscale Horizen Trust's return on assets (ROA)?

Grayscale Horizen Trust (HZEN) had a return on assets of -51.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.