CYPH

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Cypherpunk Technologies Inc.

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Key Metrics

Previous Close: $1.07
52-Week Range: $0.26 – $3.70
Market Cap: $128.24M
P/E (TTM): 1.86
EPS (TTM): 0.64
Dividend Yield: —

Advanced Metrics

Price/Book: 0.92
PEG Ratio: —
Return on Equity: -1.21%
Return on Assets: -13.79%
Gross Margin: 0.00%
Operating Margin: 0.00%
Profit Margin: 0.00%
Current Ratio: 79.19
Debt/Equity: 0.00
Total Debt: $38.00K
Free Cash Flow: $-146.24M
Revenue Growth: —
Earnings Growth: —
Enterprise Value: $107.72M

CYPH Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$0.00	$0.00	$0.00	$0.00
Research & Development	$44.97M	$73.23M	$57.21M	$25.67M
Selling, General & Admin	$11.80M	$13.81M	$12.85M	$10.87M
Operating Expenses	$54.71M	$85.94M	$70.06M	$36.70M
Operating Income	-$54.71M	-$85.94M	-$70.06M	-$36.70M
EBITDA	-$54.38M	-$85.92M	-$66.97M	$10.10M
Pretax Income	-$54.45M	-$81.41M	-$66.97M	$10.08M
Income Tax	$147.00K	$0.00	$585.00K	$5.25M
Net Income	-$54.60M	-$81.41M	-$67.56M	$4.82M
Diluted EPS	-4.80	-3.98	-1.81	0.07
Diluted Shares	11.32M	20.45M	37.55M	70.67M

CYPH Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$65.50M	$70.64M	$47.25M	$14.04M
Receivables	$2.10M	$771.00K	$704.00K	$148.01M
Current Assets	$67.95M	$71.60M	$48.04M	$162.08M
Total Assets	$70.35M	$72.83M	$49.12M	$163.18M
Current Liabilities	$11.22M	$12.68M	$14.08M	$4.56M
Total Debt	$678.00K	$262.00K	$266.00K	$38.00K
Total Liabilities	$11.49M	$12.68M	$14.08M	$9.68M
Retained Earnings	-$318.17M	-$399.58M	-$467.37M	-$462.55M
Shareholders' Equity	$58.87M	$60.14M	$35.05M	$153.51M
Working Capital	$56.73M	$58.91M	$33.96M	$157.52M

CYPH Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	-$49.04M	-$43.75M	-$60.30M	-$43.90M
Capital Expenditure	—	—	—	-$97.00M
Free Cash Flow	-$49.04M	-$43.75M	-$60.30M	-$140.90M
Depreciation & Amortisation	$16.00K	$15.00K	$5.00K	$0.00
Stock-Based Compensation	$5.18M	$5.13M	$5.50M	$4.90M
Investing Cash Flow	$0.00	$48.97M	$0.00	-$97.00M
Financing Cash Flow	-$210.00K	-$30.00K	$37.18M	$107.65M
Share Repurchases	$0.00	-$1.00K	$0.00	—
Net Change in Cash	-$49.25M	$5.19M	-$23.11M	-$33.25M

CYPH Income statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Revenue	$0.00	$0.00	$0.00	$0.00	$0.00
Research & Development	$12.91M	$10.54M	$1.25M	$975.00K	$161.00K
Selling, General & Admin	$3.01M	$1.82M	$1.92M	$4.13M	$4.66M
Operating Expenses	$15.86M	$12.35M	$3.22M	$5.26M	$4.82M
Operating Income	-$15.86M	-$12.35M	-$3.22M	-$5.26M	-$4.82M
EBITDA	-$15.43M	-$16.64M	-$3.09M	$45.26M	-$82.28M
Pretax Income	-$15.44M	-$16.64M	-$3.10M	$45.26M	-$82.28M
Income Tax	$0.00	—	$202.00K	$5.05M	-$5.12M
Net Income	-$15.44M	-$16.64M	-$3.30M	$40.20M	-$77.17M
Diluted EPS	-0.37	-0.40	-0.08	—	-0.46
Diluted Shares	41.27M	41.44M	41.44M	—	168.10M

CYPH Balance Sheet statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Cash & Equivalents	$32.71M	$18.13M	$9.69M	$14.04M	$6.69M
Receivables	$711.00K	$739.00K	$743.00K	$148.01M	$74.47M
Current Assets	$33.87M	$19.16M	$10.50M	$162.08M	$81.92M
Total Assets	$34.88M	$20.04M	$11.40M	$163.18M	$87.38M
Current Liabilities	$14.04M	$14.32M	$8.70M	$4.56M	$3.00M
Total Debt	$154.00K	$39.00K	$38.00K	$38.00K	$38.00K
Total Liabilities	$14.04M	$14.32M	$8.70M	$9.68M	$3.00M
Retained Earnings	-$482.81M	-$499.45M	-$502.75M	-$462.55M	-$539.72M
Shareholders' Equity	$20.84M	$5.72M	$2.69M	$153.51M	$84.38M
Working Capital	$19.83M	$4.84M	$1.79M	$157.52M	$78.92M

CYPH Cash Flow statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Operating Cash Flow	-$14.48M	-$14.49M	-$8.32M	-$6.62M	-$3.43M
Capital Expenditure	—	—	—	—	-$4.00M
Free Cash Flow	-$14.48M	-$14.49M	-$8.32M	-$103.62M	-$7.43M
Depreciation & Amortisation	$0.00	$0.00	$0.00	$0.00	—
Stock-Based Compensation	$1.20M	$1.49M	$303.00K	$1.90M	$2.13M
Investing Cash Flow	$0.00	—	—	—	-$9.00M
Financing Cash Flow	-$61.00K	-$119.00K	-$121.00K	$107.95M	$5.08M
Net Change in Cash	-$14.54M	-$14.61M	-$8.44M	$4.33M	-$7.36M

Market Snapshot

About

Cypherpunk Technologies Inc. is a cybersecurity and privacy technology company that provides enterprise privacy solutions and consumer privacy services. The company's products include virtual private network (VPN) services, encrypted communications tools, and other privacy-enhancing technologies. Cypherpunk targets both enterprise clients seeking to protect corporate data and individual consumers concerned about online privacy and security. The company operates in a competitive market with evolving regulatory requirements around data protection and privacy.