Hyperion DeFi reported record second-quarter 2026 net income of $31.0 million, or $30.95 million as cited in the newer report, and adjusted EBITDA of about $53.7 million, up sharply from the prior quarter as $54.8 million of treasury gains on its HYPE holdings drove most of the result. The Nasdaq-listed company, which pivoted from eye-care company Eyenovia to a HYPE treasury strategy tied to Hyperliquid, ended the quarter with 2.04 million HYPE worth $132.6 million. The company also posted operating improvement, with adjusted gross profit up 20% to $1.15 million and operating expenses excluding stock compensation down 21% to $2.3 million, while guiding to $5 million to $7 million in adjusted gross profit for 2026 and positive operating cash flow by year-end.