Cypherpunk Technologies (CYPH) Operating Expenses (2016 - 2026)
Cypherpunk Technologies (CYPH) posted Operating Expenses of $5.1 million for Q4 2025, up 61.18% sequentially from $3.2 million in Q3 2025, and down 68.35% YoY from $16.1 million in Q4 2024.
Cypherpunk Technologies (CYPH) Operating Expenses (2016 - 2026) Analysis & Trends
Cypherpunk Technologies has reported Operating Expenses for 10 years, with the latest figure at $5.1 million in Q4 2025.
- Quarterly Operating Expenses fell 68.35% year-over-year to $5.1 million in Q4 2025, while the trailing twelve-month figure through Dec 2025 was $41.1 million (down 41.38% YoY) and the FY2025 annual result came in at $41.1 million, down 41.38% from the prior year.
- Operating Expenses climbed to $5.1 million in Q4 2025 per CYPH's latest filing, from $3.2 million in the prior quarter.
- Over five years, Operating Expenses peaked at $42.7 million in Q1 2023 and troughed at $3.2 million in Q3 2025.
- A 5-year average of $14.9 million and a median of $14.8 million in 2023 frame the typical range for Operating Expenses.
- The sharpest annual moves came in 2023 and 2025: Operating Expenses jumped 301.86% in 2023, then slumped 82.27% in 2025.
- Over 5 years, Operating Expenses stood at $10.9 million in 2021, then grew by 28.35% to $13.9 million in 2022, then rose by 6.29% to $14.8 million in 2023, then climbed by 8.81% to $16.1 million in 2024, then tumbled by 68.35% to $5.1 million in 2025.
- According to Business Quant data, Operating Expenses over the past three periods registered $5.1 million, $3.2 million, and $16.9 million for Q4 2025, Q3 2025, and Q2 2025 respectively.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | BlackRock | 179.54 Bn | 165.67 Bn | - | 4.62 Bn |
| 2 | Blackstone | 114.83 Bn | 112.32 Bn | - | 2.38 Bn |
| 3 | Kkr | 97.26 Bn | -179.81 Bn | - | 5.41 Bn |
| 4 | Brookfield | 93.07 Bn | 45.66 Bn | - | 14.94 Bn |
| 5 | Brookfield Asset Management | 83.46 Bn | 81.96 Bn | - | 659.00 Mn |
| 6 | Apollo Global Management | 78.41 Bn | 53.04 Bn | 10.54 Bn | 8.74 Bn |
| 7 | State Street | 51.66 Bn | 51.66 Bn | - | 2.66 Bn |
| 8 | Ameriprise Financial | 51.12 Bn | 40.07 Bn | 4.72 Bn | 3.50 Bn |
| 9 | Raymond James Financial | 33.99 Bn | 20.74 Bn | - | 3.18 Bn |
| 10 | Cypherpunk Technologies | 262.67 Mn | 262.67 Mn | - | 4.69 Mn |
Historic Data
Download 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 |