Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | — | — | — | — | $1.50M | $1.50M | — | — | — | — |
| Revenue growth | — | — | — | — | — | 0.0% | — | — | — | — |
| Operating income | -$27.3M | -$32.4M | -$30.8M | -$33.5M | -$28.5M | -$41.4M | -$56.8M | -$87.0M | -$70.1M | -$41.1M |
| Operating margin | — | — | — | — | -1902.6% | -2761.7% | — | — | — | — |
| Net income | -$25.6M | -$29.7M | -$23.1M | -$32.9M | -$27.5M | -$40.6M | -$54.6M | -$81.4M | -$67.6M | $4.82M |
| Net margin | — | — | — | — | -1834.3% | -2705.8% | — | — | — | — |
| EPS (diluted) | — | -$3.31 | -$2.11 | -$1.47 | -$0.63 | -$0.47 | -$4.82 | -$3.98 | -$1.81 | $0.07 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$25.3M | -$22.1M | -$26.0M | -$26.9M | -$26.0M | -$35.2M | -$49.0M | -$43.8M | -$60.3M | -$43.9M |
| Capital expenditures | $144K | $64.0K | — | $100K | — | — | — | — | — | — |
| Free cash flow | -$25.5M | -$22.2M | — | -$27.0M | — | — | — | — | — | — |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $793K | $25.7M | $16.3M | $3.89M | $52.1M | $115M | $65.5M | $70.6M | $47.2M | $14.0M |
| Total assets | $6.46M | $29.1M | $19.1M | $7.45M | $54.4M | $118M | $70.4M | $72.8M | $49.1M | $163M |
| Total liabilities | $36.2M | $17.9M | $9.90M | $9.20M | $7.72M | $10.0M | $11.5M | $12.7M | $14.1M | $9.68M |
| Shareholders' equity | -$100M | $11.1M | $9.18M | -$1.75M | $46.7M | $108M | $58.9M | $60.1M | $35.0M | $154M |
| Retained earnings | -$101M | -$130M | -$154M | -$195M | -$223M | -$264M | -$318M | -$400M | -$467M | -$463M |
| Shares (wtd avg diluted) | — | 9.19M | 14.4M | 22.6M | 59.3M | 85.8M | 11.3M | 20.4M | 37.6M | 70.7M |
Every figure is extracted from CYPHERPUNK TECHNOLOGIES INC.’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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