--- title: "Cypherpunk Tech | 8-K: FY2026 Q1 Revenue: USD 0" type: "News" locale: "en" url: "https://longbridge.com/en/news/286405868.md" datetime: "2026-05-14T11:13:02.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/286405868.md) - [en](https://longbridge.com/en/news/286405868.md) - [zh-HK](https://longbridge.com/zh-HK/news/286405868.md) --- # Cypherpunk Tech | 8-K: FY2026 Q1 Revenue: USD 0 Revenue: As of FY2026 Q1, the actual value is USD 0. EPS: As of FY2026 Q1, the actual value is USD -0.46. EBIT: As of FY2026 Q1, the actual value is USD -4.905 M. #### Net Loss Net loss for Cypherpunk Technologies Inc. was - $77.2 million for the first quarter of 2026, compared to - $15.4 million for the first quarter of 2025, primarily due to unrealized losses on ZEC treasury holdings. #### Operating Expenses - **Research and Development (R&D) Expenses**: R&D expenses were $0.2 million for the three months ended March 31, 2026, a significant decrease from $12.9 million for the same period in 2025, mainly due to reduced clinical trial and manufacturing costs. - **General and Administrative (G&A) Expenses**: G&A expenses increased to $4.7 million for the three months ended March 31, 2026, up from $3.0 million for the same period in 2025, primarily due to increased stock-based compensation. - **Total Operating Expenses**: Total operating expenses were $4,817 thousand for the three months ended March 31, 2026, compared to $15,917 thousand for the same period in 2025. #### Loss from Operations Loss from operations was - $4,817 thousand for the three months ended March 31, 2026, compared to - $15,917 thousand for the same period in 2025. #### Unrealized Loss on ZEC Treasury Holdings Cypherpunk Technologies Inc. recorded a - $77.6 million unrealized loss on the change in fair value of its ZEC treasury holdings in the first quarter of 2026, as the price of ZEC declined. #### Cash and Cash Equivalents Cash and cash equivalents totaled $6.7 million as of March 31, 2026. #### Digital Assets Receivable (ZEC Treasury Holdings) ZEC treasury holdings, categorized as digital asset receivable, amounted to $73.8 million based on the ZEC price of $240.47 as of March 31, 2026. #### Cash Flow - **Cash used in operating activities**: - $3,430 thousand for the three months ended March 31, 2026, compared to - $14,480 thousand for the same period in 2025. - **Cash used in investing activities**: - $9,000 thousand for the three months ended March 31, 2026, compared to - $0 thousand for the same period in 2025. - **Cash provided by (used in) financing activities**: $5,075 thousand for the three months ended March 31, 2026, compared to - $61 thousand for the same period in 2025. #### Unique Operational Metrics and Highlights - **Zcash Treasury Holdings**: Cypherpunk Technologies Inc. increased its Zcash treasury holdings to 314,185.70 ZEC, with an additional 10,279.30 ZEC purchased for $5 million between April 15 and May 13, 2026, at an average price of $486.41 per ZEC. As of May 13, 2026, total holdings were 314,185.70 ZEC at an average purchase price of $337.86, representing approximately 1.88% of the total circulating supply of the Zcash network. - **Investment in ZODL**: The company made a $5 million investment in Zcash Open Development Labs (ZODL) in March 2026, marking its first technology investment outside of ZEC. - **Leap Therapeutics Subsidiary Highlights**: Sirexatamab received Fast Track designation from the FDA in May 2026 for DKK1-high metastatic colorectal cancer. Positive results from Part B of the DeFianCe study and a new plasma DKK1 biomarker assay were presented at AACR 2026, showing significant benefits for sirexatamab in patients with high DKK1 levels. #### Outlook / Guidance Cypherpunk Technologies Inc. aims to be a leading privacy technology company with a digital asset treasury strategy focused on Zcash, supported by investments in privacy-enhancing technologies and digital asset accumulation. The company is committed to supporting the Zcash ecosystem and building innovative companies for private digital money, as evidenced by its investment in ZODL. 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