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ZeroStack vs Hyperliquid Strategies: ZSTK and PURR compared
ZeroStack is the larger company: $13.7M of revenue in its latest quarter (Q2 2026) against $12.2M for Hyperliquid Strategies (Q1 FY27).
Where the money goes: ZSTK and PURR
ZeroStack (ZSTK) · Q2 2026
ZeroStack, Q2 2026: revenue $13.7M (+41% year over year), operating margin -177.4%, net loss $24.6M, operating cash flow $1.4M. The chart follows the revenue to costs, profit and cash.
Hyperliquid Strategies (PURR) · Q1 FY27
Hyperliquid Strategies, Q1 FY27: revenue $12.2M, net earnings $621M, operating cash flow −$17.1M. The chart follows the revenue to costs, profit and cash.
| ZeroStack (ZSTK) | Hyperliquid Strategies (PURR) | |
|---|---|---|
| Latest quarter | Q2 2026 | Q1 FY27 |
| Revenue | $13.7M | $12.2M |
| Revenue growth, Y/Y | +41% | — |
| Operating margin | -177.4% | n/m |
| Net earnings | −$24.6M | $621M |
| Net margin | -180.2% | — |
| Operating cash flow | $1.4M | −$17.1M |
Questions
Which is bigger, ZeroStack or Hyperliquid Strategies?
ZeroStack is the larger company: $13.7M of revenue in its latest quarter (Q2 2026) against $12.2M for Hyperliquid Strategies (Q1 FY27).
More: ZeroStack earnings · how ZeroStack makes money · Hyperliquid Strategies earnings · how Hyperliquid Strategies makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Jul 31, 2026; 10-Q filed Nov 5, 2026). Fiscal quarters can end on different dates. Not investment advice.