Cypherpunk Technologies (CYPH) Operating Expenses (2016 - 2026)
Cypherpunk Technologies' (CYPH) quarterly Operating Expenses came in at $4.7 million in Q2 2026, down 72.22% year-over-year from $16.9 million in Q2 2025, and down 8.11% quarter-over-quarter from $5.1 million in Q4 2025.
Analysis
Cypherpunk Technologies (CYPH) Operating Expenses (2016 - 2026) Analysis & Trends
Cypherpunk Technologies has disclosed Operating Expenses across 11 years of filings, most recently posting $4.7 million for Q2 2026.
- In Q2 2026, Operating Expenses fell 72.22% year-over-year to $4.7 million; the TTM figure through Jun 2026 stood at $29.8 million (down 55.32% YoY), while the FY2025 annual figure was $41.1 million, down 41.38% from the prior year.
- Operating Expenses came in at $4.7 million for Q2 2026 at Cypherpunk Technologies, down from $5.1 million in the prior quarter.
- In the past five years, Operating Expenses ranged from a high of $42.7 million in Q1 2023 to a low of $3.2 million in Q3 2025.
- Average Operating Expenses over 5 years is $15.3 million, with a median of $14.8 million recorded in 2023.
- Year-over-year, Operating Expenses soared 301.86% in 2023 and sank 82.27% in 2025.
- Over 5 years, Operating Expenses stood at $13.9 million in 2022, then grew by 6.29% to $14.8 million in 2023, then gained by 8.81% to $16.1 million in 2024, then sank by 68.35% to $5.1 million in 2025, then decreased by 8.11% to $4.7 million in 2026.
- Per Business Quant data, the three most recent Operating Expenses figures were $4.7 million in Q2 2026, $5.1 million in Q4 2025, and $3.2 million in Q3 2025.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Coinbase Global | 45.40 Bn | 36.62 Bn | 1.16 Bn | 1.33 Bn |
| 2 | Bullish | 4.32 Bn | 4.21 Bn | 15.53 Mn | -56.27 Mn |
| 3 | Canton Strategic Holdings | 465.18 Mn | 465.18 Mn | - | 2.70 Mn |
| 4 | Cypherpunk Technologies | 406.44 Mn | 406.44 Mn | - | 4.69 Mn |
| 5 | Coincheck | 268.46 Mn | 166.86 Mn | 11.20 Mn | 711.50 Mn |
| 6 | Wewards | 214.97 Mn | 214.97 Mn | - | 14,393.00 |
| 7 | Usbc | 178.08 Mn | 174.42 Mn | - | 28.10 Mn |
| 8 | Universal Token | 174.68 Mn | 174.68 Mn | - | 17,725.00 |
| 9 | TON Strategy | 173.75 Mn | 173.73 Mn | - | - |
| 10 | Streamex | 123.26 Mn | 104.79 Mn | - | 15.31 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 4.69 Mn |
| Dec 31, 2025 | 5.10 Mn |
| Sep 30, 2025 | 3.17 Mn |
| Jun 30, 2025 | 16.88 Mn |
| Mar 31, 2025 | 15.92 Mn |
| Dec 31, 2024 | 16.13 Mn |
| Sep 30, 2024 | 17.86 Mn |
| Jun 30, 2024 | 21.25 Mn |
| Mar 31, 2024 | 14.83 Mn |
| Dec 31, 2023 | 14.82 Mn |
| Sep 30, 2023 | 14.83 Mn |
| Jun 30, 2023 | 14.66 Mn |
| Mar 31, 2023 | 42.73 Mn |
| Dec 31, 2022 | 13.94 Mn |
| Sep 30, 2022 | 15.29 Mn |
| Jun 30, 2022 | 16.90 Mn |
| Mar 31, 2022 | 10.63 Mn |
| Dec 31, 2021 | 10.86 Mn |
| Sep 30, 2021 | 12.52 Mn |
| Jun 30, 2021 | 10.00 Mn |