Cypherpunk Technologies Inc. (CYPH) Balance Sheet
CYPH balance sheet, 2025
December 31, 2025 · U.S. dollars$163.2M assets = $9.7M liabilities + $153.5M equity
Both columns are drawn to the same scale: what CYPH owns equals what it owes plus shareholders’ equity. Hover a block for its value.
CYPH financial health
Descriptive bands, not a rating. Fiscal 2025.
CYPH balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $6.5M2016 | $163.2M2025 | +43.2%/yr | |
| Total liabilities | $6.5M2016 | $9.7M2025 | +4.6%/yr | |
| Shareholders’ equity | −$100.2M2016 | $153.5M2025 | — | |
| Cash & short-term investments | $793,0002016 | $14.0M2025 | +37.6%/yr | |
| Total debt | $30.3M2016 | $38,0002025 | −52.4%/yr | |
| Net cash (debt) | −$29.5M2016 | $14.0M2025 | +$43.5M | |
| Working capital | −$32.1M2016 | $157.5M2025 | +$189.7M | |
| Book value per share | $0.932024 | $2.172025 | +132.7%/yr | |
| Debt / equity | 0.182019 | 0.002025 | −0.18 | |
| Shares outstanding | 37.6M2024 | 70.7M2025 | +88.2%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
CYPH assets
CYPH liabilities and equity
CYPH debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
CYPH balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $14.0M | $47.2M | $70.6M | $43.8M | $114.9M | $63.8M | $2.4M | $16.3M | $25.7M | $793,000 |
| Cash & equivalents | $14.0M | $47.2M | $70.6M | $21.0M | $114.9M | $63.8M | $2.4M | $16.3M | $25.7M | $793,000 |
| Short-term investments | — | — | — | $22.8M | — | — | — | — | — | — |
| Receivables | $148.0M | $704,000 | $771,000 | $1.4M | $1.2M | $2.0M | $2.0M | $836,000 | $1.7M | $3.2M |
| Inventory | $0 | $0 | $0 | $1.4M | $0 | $980,000 | $645,000 | $0 | $0 | $30,000 |
| Other current assets | $40,000 | $86,000 | $183,000 | $6.7M | $769,000 | $481,000 | $426,000 | $202,000 | $177,000 | $36,000 |
| Total current assets | $162.1M | $48.0M | $71.6M | $53.2M | $116.9M | $67.3M | $5.5M | $17.3M | $27.7M | $4.0M |
| Property, plant & equipment (net) | $38,000 | $262,000 | $262,000 | $371,000 | $495,000 | $2.7M | $2.7M | $86,000 | $135,000 | $119,000 |
| Goodwill & intangible assets | $0 | $0 | $0 | $25,000 | $0 | $130,000 | $138,000 | $0 | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $1.1M | $823,000 | $966,000 | $4.5M | $542,000 | $258,000 | $318,000 | $1.7M | $1.3M | $2.3M |
| Total assets | $163.2M | $49.1M | $72.8M | $58.1M | $117.9M | $70.4M | $8.7M | $19.1M | $29.1M | $6.5M |
| Liabilities | ||||||||||
| Accounts payable | $2.0M | $4.7M | $6.5M | $1.5M | $4.2M | $730,000 | $654,000 | $3.6M | $2.6M | $3.2M |
| Short-term debt | $38,000 | $266,000 | $262,000 | $268,000 | $432,000 | $252,000 | $236,000 | — | — | $30.3M |
| Total current liabilities | $4.6M | $14.1M | $12.7M | $3.1M | $10.0M | $1.8M | $1.6M | $6.5M | $6.1M | $36.2M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | $38,000 | $266,000 | $262,000 | $678,000 | $469,000 | — | — | — | — | — |
| Other long-term liabilities | $5.1M | $0 | $0 | $331,000 | $37,000 | $1.2M | $1.4M | $3.4M | $11.9M | $70.5M |
| Total liabilities | $9.7M | $14.1M | $12.7M | $3.4M | $10.0M | $3.0M | $3.0M | $9.9M | $17.9M | $6.5M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $84,000 | $38,000 | $26,000 | $142,000 | $88,000 | $142,000 | $69,000 | $15,000 | $12,000 | — |
| Retained earnings (deficit) | −$462.5M | −$467.4M | −$399.6M | −$105.9M | −$263.6M | −$91.3M | −$87.9M | −$153.5M | −$130.4M | −$100.7M |
| Accumulated other comprehensive income | −$95,000 | −$120,000 | $106,000 | $0 | −$267,000 | $0 | — | $302,000 | −$268,000 | $294,000 |
| Total shareholders' equity | $153.5M | $35.0M | $60.1M | $54.6M | $107.9M | $67.4M | $5.7M | $9.2M | $11.1M | −$100.2M |
| Key figures | ||||||||||
| Total debt | $38,000 | $266,000 | $262,000 | $524,000 | $469,000 | $776,000 | $1.0M | — | — | $30.3M |
| Net cash (debt) | $14.0M | $47.0M | $70.4M | $43.2M | $114.4M | $63.1M | $1.4M | — | — | −$29.5M |
| Working capital | $157.5M | $34.0M | $58.9M | $50.1M | $106.9M | $65.5M | $3.9M | $10.9M | $21.6M | −$32.1M |
| Tangible book value | $153.5M | $35.0M | $60.1M | $54.6M | $107.9M | $67.3M | $5.6M | $9.2M | $11.1M | −$100.2M |
| Book value per share | $2.17 | $0.93 | — | — | — | — | — | — | — | — |
| Shares outstanding | 70.7M | 37.6M | — | — | — | — | — | — | — | — |
| Current ratio | 35.56 | 3.41 | 5.64 | 17.07 | 11.70 | 37.37 | 3.50 | 2.69 | 4.55 | 0.11 |
| Quick ratio | 35.55 | 3.41 | 5.63 | 14.47 | 11.63 | 36.56 | 2.82 | 2.65 | 4.52 | 0.11 |
| Debt / equity | 0.00 | 0.01 | 0.00 | 0.01 | 0.00 | 0.01 | 0.18 | — | — | — |
| Equity / assets | 94.1% | 71.3% | 82.6% | 94.1% | 91.5% | 95.7% | 65.8% | 48.1% | 38.3% | −1,552.3% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $7.6M | $6.7M | $14.0M | $174.1M | $18.1M | $32.7M | $47.2M | $62.8M | $292.9M | $180.6M | $70.6M | $80.7M |
| Cash & equivalents | $7.6M | $6.7M | $14.0M | $26.8M | $18.1M | $32.7M | $47.2M | $62.8M | $252.0M | $142.1M | $70.6M | $80.7M |
| Short-term investments | — | — | — | $147.4M | — | — | — | — | $40.9M | $38.5M | — | — |
| Receivables | $129.4M | $74.5M | $148.0M | $179,000 | $739,000 | $711,000 | $704,000 | $780,000 | $142,000 | $999,000 | $771,000 | $753,000 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $1.0M |
| Other current assets | $539,000 | $768,000 | $40,000 | $4.2M | $292,000 | $446,000 | $86,000 | $209,000 | $1.2M | $6.6M | $183,000 | $0 |
| Total current assets | $137.6M | $81.9M | $162.1M | $178.5M | $19.2M | $33.9M | $48.0M | $63.8M | $294.2M | $188.2M | $71.6M | $81.8M |
| Property, plant & equipment (net) | $38,000 | $38,000 | $38,000 | $65.9M | $38,000 | $152,000 | $262,000 | $370,000 | $16.8M | $15.4M | $262,000 | $372,000 |
| Goodwill & intangible assets | $0 | $0 | $0 | $50.0M | $0 | $0 | $0 | $0 | $74.1M | $74.1M | $0 | $27.3M |
| Long-term investments | $5.0M | $5.0M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $381,000 | $418,000 | $1.1M | $438,000 | $843,000 | $857,000 | $823,000 | $865,000 | $854,001 | $664,000 | $966,000 | $0 |
| Total assets | $143.0M | $87.4M | $163.2M | $294.8M | $20.0M | $34.9M | $49.1M | $65.0M | $385.9M | $278.3M | $72.8M | $83.0M |
| Liabilities | ||||||||||||
| Accounts payable | $588,000 | $516,000 | $2.0M | $12.9M | $7.3M | $6.4M | $4.7M | $5.9M | $5.6M | $5.5M | $6.5M | $5.9M |
| Short-term debt | $38,000 | $38,000 | $38,000 | $759,000 | $39,000 | $154,000 | $266,000 | $376,000 | $774,000 | $178,000 | $262,000 | $369,000 |
| Total current liabilities | $1.7M | $3.0M | $4.6M | $20.6M | $14.3M | $14.0M | $14.1M | $16.1M | $10.6M | $14.5M | $12.7M | $11.0M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | $38,000 | $38,000 | $38,000 | $38,000 | $39,000 | $154,000 | $266,000 | $376,000 | — | — | — | — |
| Other long-term liabilities | $1.9M | $0 | $5.1M | $32.0M | $0 | $0 | $0 | $0 | $34.3M | $33.9M | $0 | $3.6M |
| Total liabilities | $3.6M | $3.0M | $9.7M | $52.6M | $14.3M | $14.0M | $14.1M | $16.1M | $44.9M | $48.4M | $12.7M | $11.0M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $108,000 | $94,000 | $84,000 | $74,000 | $41,000 | $41,000 | $38,000 | $38,000 | $67,000 | $587,000 | $26,000 | $26,000 |
| Retained earnings (deficit) | −$500.3M | −$539.7M | −$462.5M | −$297.4M | −$499.4M | −$482.8M | −$467.4M | −$451.9M | −$176.4M | −$164.7M | −$399.6M | −$387.1M |
| Accumulated other comprehensive income | −$81,000 | −$86,000 | −$95,000 | $113,999 | −$82,000 | −$113,000 | −$120,000 | $6,000 | $0 | $0 | $106,000 | $760,000 |
| Total shareholders' equity | $139.3M | $84.4M | $153.5M | $242.2M | $5.7M | $20.8M | $35.0M | $49.0M | $341.0M | $229.9M | $60.1M | $72.0M |
| Key figures | ||||||||||||
| Total debt | $38,000 | $38,000 | $38,000 | $3.3M | $39,000 | $154,000 | $266,000 | $376,000 | $3.9M | $2.9M | $262,000 | $369,000 |
| Net cash (debt) | $7.6M | $6.7M | $14.0M | $170.8M | $18.1M | $32.6M | $47.0M | $62.4M | $289.0M | $177.8M | $70.4M | $80.4M |
| Working capital | $135.8M | $78.9M | $157.5M | $157.9M | $4.8M | $19.8M | $34.0M | $47.7M | $283.6M | $173.7M | $58.9M | $70.7M |
| Tangible book value | $139.3M | $84.4M | $153.5M | $192.2M | $5.7M | $20.8M | $35.0M | $49.0M | $266.9M | $155.8M | $60.1M | $44.7M |
| Book value per share | $0.79 | $0.50 | $2.17 | $5.84 | $0.14 | $0.50 | $0.85 | $1.19 | $8.72 | $8.51 | $2.23 | $2.67 |
| Shares outstanding | 176.3M | 168.1M | 70.7M | 41.4M | 41.4M | 41.3M | 41.3M | 41.2M | 39.1M | 27.0M | 27.0M | 27.0M |
| Current ratio | 79.19 | 27.28 | 35.56 | 8.66 | 1.34 | 2.41 | 3.41 | 3.97 | 27.73 | 12.98 | 5.64 | 7.41 |
| Quick ratio | 78.88 | 27.02 | 35.55 | 8.45 | 1.32 | 2.38 | 3.41 | 3.95 | 27.62 | 12.52 | 5.63 | 7.38 |
| Debt / equity | 0.00 | 0.00 | 0.00 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.00 | 0.01 |
| Equity / assets | 97.4% | 96.6% | 94.1% | 82.2% | 28.5% | 59.7% | 71.3% | 75.3% | 88.4% | 82.6% | 82.6% | 86.7% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed March 16, 2026); data from EODHD.
CYPH financial position
At the end of fiscal 2025 (December 31, 2025), Cypherpunk Technologies had total assets of $163.2 million (up 232.2% from a year earlier), total liabilities of $9.7 million and shareholders' equity of $153.5 million. It held $14.0 million in cash and short-term investments against $0.0 million of debt, a net cash position of $14.0 million. Its current ratio was 35.56. In the latest quarter (ended June 30, 2026) total assets were $143.0 million and equity $139.3 million.
Related: CYPH income statement, CYPH cash flow statement, CYPH key metrics. See the CYPH stock overview for the latest quote and news.
CYPH balance sheet FAQ
What are Cypherpunk Technologies's total assets?
Cypherpunk Technologies reported total assets of $163.2 million at the end of fiscal 2025 (December 31, 2025), compared with $49.1 million a year earlier.
How much debt does Cypherpunk Technologies have?
Cypherpunk Technologies had $0.0 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.00.
How much cash does Cypherpunk Technologies have?
Cypherpunk Technologies held $14.0 million in cash and short-term investments at the end of fiscal 2025; with $0.0 million of debt that is net cash of $14.0 million.
What is Cypherpunk Technologies's book value?
Cypherpunk Technologies's shareholders' equity (book value) was $153.5 million at the end of fiscal 2025, or $2.17 per share.
What is Cypherpunk Technologies's current ratio?
Cypherpunk Technologies had current assets of $162.1 million and current liabilities of $4.6 million, a current ratio of 35.56 (it can cover its short-term obligations).