Hyperliquid Strategies' Purr Stock Jumps 11% on Strong Annual Results
PURR stock rose significantly after Hyperliquid Strategies reported its annual results. The treasury company's stock increased by 11% to $12.83 on Thursday, with another boost of 3.43% to $13.27 in after-hours trading.
The company finished the fiscal year ended June 30 with a net income of $305.5 million and no debt. It also had 29.3 million HYPE tokens and $149.9 million in cash.
The majority of Hyperliquid Strategies' earnings came from token price movement, with unrealized gains on the HYPE token reaching $709.9 million. However, a one-time loss of $169.2 million on tokens offset part of this figure, as did a deferred tax expense of $183.5 million.
CEO David Schamis framed the year as a build phase for Hyperliquid Strategies, highlighting its increased HYPE treasury and successful validator launch. The company also raised $646.6 million through a committed equity facility at an average price of $8.70 per share, and deployed $773.4 million to buy roughly 16.5 million HYPE tokens at an average price of $46.77.
The divergence between HYPE's performance and the rest of the treasury sector was notable, with total digital asset market capitalization falling by about 13% during the quarter ended June 30. Hyperion DeFi reported record quarterly net income driven by similar treasury gains, while companies tied to other tokens experienced losses.