Cypherpunk Technologies Q1 net loss widens

Cypherpunk Technologies Inc. Ordinary Shares

Cypherpunk Technologies Inc. Ordinary Shares

CYPH

0.00


Overview

  • US privacy technology firm's Q1 net loss widened

  • Research and development expenses dropped after completion of clinical trials

  • Company invested $5 mln in Zcash Open Development Labs and expanded ZEC holdings


Outlook

  • Company did not provide specific financial guidance or forecasts for the current or future periods in press release


Result Drivers

  • ZEC PRICE DECLINE - Net loss widened due to a $77.6 mln unrealized loss on ZEC holdings as the price of ZEC fell from $508.09 to $240.47 during Q1

  • LOWER R&D SPENDING - Research and development expenses fell after completion of clinical trials

  • HIGHER STOCK COMPENSATION - General and administrative expenses rose mainly due to increased stock-based compensation for employees and directors


Company press release: ID:nPreTc9lNa


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q1 EPS

-$0.46

Q1 Net Income

-$77.20 mln


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