In Q1’26 @HyperionDeFi generated record net income, and we are raising guidance for full-year 2026 by ~20%. Our identity is unique:  we are the first DeFi public company building on Hyperliquid. The results speak for themselves: - Our Q1 Adjusted Gross Profit* has grown by +119% since Q3, and +17% sequentially versus Q4. - Our “triple-dip” HYPE strategy continues to drive superior execution versus our peers.    - If you compare our DeFi operating businesses versus base staking yield, our multiple grew from 1.3x in Q3, to 2.7x in Q4, to 3.1x in Q1. - Our core costs have declined sequentially each quarter, and we expect our costs to continue to decline as our legacy biotech segment rolls off. - Beyond our ~2.0M HYPE, we continue to receive "ecosystem rewards" -- tokens or equity in early-stage Hyperliquid builders, which rounds out our growing treasury built to support and monetize growth of the Hyperliquid community. I’m very proud of what we have built in the last three quarters, and we are just getting started. Our earnings release, earnings supplement, and earnings call information for today May 14 at 8 AM ET can be found here: *Please see our earnings release or earnings supplement for important GAAP to Non-GAAP reconciliations and other important disclosures.