Quick Answer
CYPHERPUNK TECHNOLOGIES INC. reported R&D Expense of $25.67 million for fiscal year 2025.
CYPHERPUNK TECHNOLOGIES INC. R&D Expense — Annual History
| Fiscal Year | R&D Expense | YoY Change |
|---|---|---|
| 2025 | $25.67M | -55.1% |
| 2024 | $57.21M | -21.9% |
| 2023 | $73.23M | +62.9% |
| 2022 | $44.97M | +39.8% |
| 2021 | $32.16M | +57.5% |
| 2020 | $20.42M | -16.2% |
| 2019 | $24.37M | +11.6% |
| 2018 | $21.83M | -3.0% |
| 2017 | $22.50M | -3.4% |
| 2016 | $23.29M | — |
Quarterly R&D Expense
| Quarter Ending | R&D Expense | YoY | QoQ |
|---|---|---|---|
| September 30, 2025 | $1.25M | -91.6% | -88.2% |
| June 30, 2025 | $10.54M | -41.1% | -18.4% |
| March 31, 2025 | $12.91M | +14.3% | -13.4% |
| September 30, 2024 | $14.91M | +29.7% | -16.6% |
| June 30, 2024 | $17.89M | +61.1% | +58.3% |
| March 31, 2024 | $11.30M | -71.0% | -1.8% |
| September 30, 2023 | $11.50M | -4.9% | +3.6% |
| June 30, 2023 | $11.10M | -20.9% | -71.5% |
- CYPHERPUNK TECHNOLOGIES INC. showed a decrease of -55.1% in R&D Expense compared to the prior fiscal year.
- Over the 2016–2025 period, CYPHERPUNK TECHNOLOGIES INC.’s r&d expense has grown by 10.2% (from $23.29 million to $25.67 million).
- The most recent figure is from CYPHERPUNK TECHNOLOGIES INC.’s fiscal year 2025 report (Form 10-K), filed with the SEC on March 16, 2026.
- All figures are sourced from SEC EDGAR XBRL filings, last verified June 17, 2026.
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