Hyperliquid Strategies (PURR) Operating Expenses (2025 - 2026)
Hyperliquid Strategies' Operating Expenses was -$601.42 million in fiscal Q4 2026 (quarter ended Jun 30, 2026).
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Analysis
Hyperliquid Strategies (PURR) Operating Expenses (2025 - 2026) Analysis & Trends
For FY2026 (ended Jun 30, 2026), Operating Expenses at Hyperliquid Strategies came in at -$491.16 million.
- In earlier fiscal years, Operating Expenses was $597,000 in FY2025.
- Per Business Quant data, PURR's Operating Expenses in the three fiscal quarters before Q4 2026 was -$191.19 million (Q3 2026), $288.05 million (Q2 2026) and $1.21 million (Q1 2026).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | BlackRock | 165.57 Bn | 111.92 Bn | - | 4.62 Bn |
| 2 | Spdr Gold Trust | 134.78 Bn | -423.22 Bn | - | 149.76 Mn |
| 3 | Blackstone | 85.82 Bn | 80.74 Bn | - | 2.38 Bn |
| 4 | Kkr | 83.68 Bn | 50.16 Bn | - | 5.41 Bn |
| 5 | Brookfield | 82.01 Bn | -83.38 Bn | 4.47 Bn | 14.94 Bn |
| 6 | Brookfield Asset Management | 71.83 Bn | 68.08 Bn | - | 659.00 Mn |
| 7 | Apollo Global Management | 68.53 Bn | 6.22 Bn | 10.56 Bn | 8.74 Bn |
| 8 | Wheaton Precious Metals | 61.44 Bn | 56.87 Bn | 687.86 Mn | 133.83 Mn |
| 9 | Franco Nevada | 47.81 Bn | 45.18 Bn | 451.00 Mn | 7.80 Mn |
| 10 | Hyperliquid Strategies | 950.91 Mn | 812.99 Mn | - | -601.42 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -601.42 Mn |
| Mar 31, 2026 | -191.19 Mn |
| Dec 31, 2025 | 288.05 Mn |
| Sep 30, 2025 | 1.21 Mn |
API Access
Hyperliquid Strategies Operating Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-expenses&ticker=PURR&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "PURR", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-expenses&ticker=PURR&period=max&api_key=YOUR_API_KEY");
const data = await res.json();