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Hyperliquid Strategies (PURR) earnings and revenue breakdown
Latest: Q1 FY27 · 10-Q filed Nov 5, 2026 · Hyperliquid Strategies (PURR) Q1 FY27 earnings results →
Hyperliquid Strategies made $12.2M in Q1 FY27. Operating margin n/m, net earnings $621M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 5, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $12.2M in Q1 FY27, up 93% from the previous quarter.
Operating profit was $807.7M, a 6593.3% margin. Net earnings were $620.6M. The effective tax rate was 21.7%.
Operating cash flow was −$17.1M. Non-cash charges added back $1.7M of share-based compensation. Working capital and other items used $639.4M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q1 FY27 | 10-Q | Nov 5, 2026 | $12.2M | — | n/m | $621M | −$17.1M |
| Q4 FY26 | 10-K | Aug 27, 2026 | $6.3M | — | n/m | $471M | −$3.8M |
| Q3 FY26 | 10-Q | May 8, 2026 | $2.6M | — | n/m | $153M | −$7.0M |
| Q2 FY26 | 10-Q | Feb 11, 2026 | $500K | — | n/m | −$304M | — |
Charts
Interactive views
The same charts as the app — open one to draw it.
💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About Hyperliquid Strategies
Hyperliquid Strategies Inc (NASDAQ: PURR) is a digital asset treasury company whose primary focus is to maximize shareholder value through accumulating HYPE, the native token of Hyperliquid, a high-performance blockchain custom-built to house all of finance. HSI aims to provide capital-efficient and productive access to the HYPE token for U.S. and institutional investors, generating compounding shareholder returns that individual holders may not be able to replicate through staking, yield optimization, and active ecosystem engagement. HSI is currently the largest HYPE-focused digital asset treasury vehicle capitalizing on Hyperliquid’s rapid growth and providing exposure to one of the largest and fastest growing revenue pools in digital assets. For more information, please visit www.hypestrat.xyz.
In its own words, from its 8-K, filed Aug 27, 2026.
Hyperliquid Strategies against its Finance Services peers
The largest companies of the same SEC industry, each at its latest quarter.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| PURR Hyperliquid Strategies | Q1 FY27 | $12.2M | — | n/m |
| AXP American Express | Q3 2026 | $20.1B | +9% | 22.6% |
| BTGO Bitgo Holdings | Q2 FY27 | $4.3B | +80% | -0.4% |
| General Motors Financial Company | Q3 2026 | $4.3B | -0.6% | 15.3% |
| SOFI SoFi Technologies | Q3 2026 | $1.4B | +44% | 22.9% |
| COIN Coinbase Global | Q3 2026 | $1.2B | -35% | 5.1% |
| CRCL Circle Internet Group | Q3 2026 | $865M | +17% | 24.1% |
| CHYM Chime Financial | Q3 2026 | $718M | +32% | 4.8% |
| GDOT Green DOT | Q2 2026 | $596M | +18% | -0.1% |
Source: Hyperliquid Strategies 10-Q on SEC EDGAR · CIK 2078856 · Finance Services
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History
Every quarter: Q1 FY27 results · Q4 FY26 results · Q3 FY26 results · Q2 FY26 results