Cypherpunk Technologies Inc. (CYPH) Income Statement
CYPH 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsCYPH revenue and net income
CYPH profit margins
CYPH growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | — | — | — | — |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
CYPH quarterly EPS vs estimates
Cypherpunk Technologies beat the analyst EPS estimate in 4 of the last 7 quarters. Next report: November 11, 2026 (estimate $-0.02).
CYPH income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 | $1.5M | $10.1M | $9.7M | $0 | $0 | $0 |
| Cost of revenue | — | — | $427,000 | — | $0 | $4.9M | $4.6M | $49,000 | $48,000 | $25,000 |
| Gross profit | — | — | −$427,000 | — | $1.5M | $5.1M | $5.1M | −$49,000 | −$48,000 | −$25,000 |
| Research & development | $25.7M | $57.2M | $73.2M | $45.0M | $32.2M | $1.4M | $1.1M | $21.1M | $22.5M | $23.3M |
| Sales, general & admin | $10.9M | $12.8M | $14.2M | $11.8M | $10.8M | $7.0M | $7.4M | $8.9M | $9.8M | $4.2M |
| Total operating expenses | $36.5M | $70.1M | $86.6M | $56.8M | $42.9M | $8.6M | $8.6M | $30.0M | $32.4M | $27.5M |
| Operating income | −$36.5M | −$70.1M | −$87.0M | −$56.8M | −$41.4M | −$3.4M | −$3.5M | −$30.8M | −$32.4M | −$27.5M |
| Interest income | $916,000 | $3.1M | $4.0M | $925,000 | $9,000 | — | — | — | — | — |
| Interest expense | $24,000 | $0 | $0 | $54,000 | $41,000 | $39,000 | $23,000 | $19,000 | $121,000 | $1.2M |
| Income before taxes | $10.1M | −$67.0M | −$81.4M | −$54.4M | −$40.6M | −$3.4M | −$3.4M | −$23.1M | −$29.9M | −$25.6M |
| Income taxes | $5.3M | $585,000 | — | $147,000 | −$24,000 | — | — | $20,000 | −$157,000 | — |
| Net income | $4.8M | −$67.6M | −$81.4M | −$54.6M | −$40.6M | −$3.4M | −$3.4M | −$23.1M | −$29.7M | −$25.6M |
| EBITDA | −$36.5M | −$67.0M | −$81.4M | −$54.4M | −$40.5M | −$3.2M | −$3.3M | −$23.1M | −$29.7M | −$24.4M |
| EPS (diluted) | $0.07 | −$1.84 | −$2.20 | −$4.70 | −$3.90 | −$7.69 | −$33.00 | −$23.14 | −$35.08 | −$27.29 |
| Gross margin | — | — | — | — | 100.0% | 50.9% | 52.9% | — | — | — |
| Operating margin | — | — | — | — | −2,761.7% | −34.3% | −35.9% | — | — | — |
| Net margin | — | — | — | — | −2,705.8% | −33.7% | −35.6% | — | — | — |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $209,000 | $0 | $0 | $234,000 | $0 | $0 | $0 | $337,000 | $0 |
| Cost of revenue | — | — | — | $20.3M | — | — | $10.7M | — | — | — | $6.1M | — |
| Gross profit | — | — | — | −$20.1M | — | — | −$10.4M | — | — | — | −$5.8M | — |
| Research & development | $197,000 | $161,000 | $975,000 | $1.2M | $10.5M | $12.9M | $12.9M | $14.9M | $17.9M | $11.3M | $7.1M | $11.5M |
| Sales, general & admin | $4.5M | $4.7M | $1.7M | $1.9M | $1.8M | $3.0M | $8.2M | $2.9M | $3.4M | $3.5M | $4.8M | $3.3M |
| Total operating expenses | $4.7M | $4.8M | $5.1M | $3.2M | $16.9M | $15.9M | $34.5M | $17.9M | $21.3M | $14.8M | $5.9M | $14.8M |
| Operating income | −$4.7M | −$4.8M | −$5.1M | −$3.2M | −$16.9M | −$15.9M | −$45.0M | −$17.9M | −$21.3M | −$14.8M | −$11.7M | −$14.8M |
| Interest income | $63,000 | $95,000 | $110,000 | $123,000 | $246,000 | $437,000 | $595,000 | $894,000 | — | — | — | — |
| Interest expense | $6,000 | $7,000 | $1,000 | $10,000 | $7,000 | $6,000 | — | $0 | — | — | — | — |
| Income before taxes | $41.4M | −$82.3M | $45.3M | −$3.1M | −$16.6M | −$15.4M | −$42.2M | −$17.5M | −$20.1M | −$13.8M | −$11.6M | −$13.7M |
| Income taxes | $2.0M | −$5.1M | $5.1M | $202,000 | — | — | −$2.1M | $708,000 | — | — | $7.8M | — |
| Net income | $39.4M | −$77.2M | $40.2M | −$3.3M | −$16.6M | −$15.4M | −$40.2M | −$18.2M | −$20.1M | −$13.8M | −$24.7M | −$13.7M |
| EBITDA | −$4.7M | −$82.3M | $45.3M | −$2.3M | −$16.6M | −$15.4M | −$20.2M | −$18.4M | −$20.8M | −$13.8M | −$11.5M | −$14.3M |
| EPS (diluted) | −$0.03 | −$0.46 | $0.92 | −$0.08 | −$0.40 | −$0.37 | −$0.37 | −$0.44 | −$0.52 | −$0.51 | −$0.46 | −$0.51 |
| Gross margin | — | — | — | −9,631.6% | — | — | −4,461.5% | — | — | — | −1,713.6% | — |
| Operating margin | — | — | — | −1,514.8% | — | — | −19,223.9% | — | — | — | −3,464.7% | — |
| Net margin | — | — | — | −1,580.4% | — | — | −17,166.2% | — | — | — | −7,322.0% | — |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in CYPH's financial statements (latest annual report filed March 16, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
CYPH financial results
Cypherpunk Technologies reported no revenue in fiscal year 2025 (ended December 31, 2025). It had net income of $4.8 million. Diluted earnings per share came to $0.07.
See the CYPH stock overview for the latest quote and news, or the CYPH chart for price history and technical indicators.
CYPH income statement FAQ
Does Cypherpunk Technologies have revenue?
Cypherpunk Technologies reported no revenue for fiscal year 2025, which ended on December 31, 2025.
Is Cypherpunk Technologies profitable?
Yes. Cypherpunk Technologies reported net income of $4.8 million in fiscal 2025.
How much does Cypherpunk Technologies spend on research and development?
Cypherpunk Technologies spent $25.7 million on research and development in fiscal 2025.
What are Cypherpunk Technologies's earnings per share?
Cypherpunk Technologies earned $0.07 per diluted share in fiscal 2025, compared with $-1.84 a year earlier.
When will Cypherpunk Technologies report its next earnings?
Cypherpunk Technologies is expected to report results for the quarter ending September 30, 2026 on November 11, 2026 before the market opens.
When does Cypherpunk Technologies's fiscal year end?
Cypherpunk Technologies's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 16, 2026.