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DEFI DEVELOPMENT CORP UK (DFUKF) Financials

DFUKF
FY2025 annual
Revenue $11.4M +442.3% YoY
Net Income -$73.8M -2605.8% YoY
EPS (Diluted) -$4.00 YoY not available
Free Cash Flow -$18.0M -636.1% YoY
Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Currency USD FYE December

Newest figures come from the 10-K for Q2 FY2026, filed Aug 13, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the DFUKF SEC filings page.

DEFI DEVELOPMENT CORP UK (DFUKF) reported $11.4M in revenue for fiscal year 2025, up 442.3% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 4 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI DFUKF FY2025

The business expanded its asset base dramatically, but debt-funded growth has yet to translate into operating earnings or positive cash flow.

From FY2024 to FY2025, assets expanded 70.3x while revenue expanded only 5.4x, showing that the balance sheet grew far faster than the operating base. The 2025 financing inflow of $242.9M largely accompanied a $221.5M investing outflow, indicating expansion was funded externally rather than by internally generated cash.

A 97.8% gross margin did not translate into cash: operating cash flow was -$18.0M. Free cash flow was also -$18.0M, nearly matching operating cash flow, so reported reinvestment was not the main driver of the cash shortfall.

Liabilities rose from $0.9M in FY2024 to $208.1M in FY2025, making the balance sheet far more dependent on outside financing. Debt-to-equity reached 1.3x while the current ratio fell to 1.5x, indicating less short-term cushion alongside the new leverage.

[ NOT FINANCIAL ADVICE ]

Financial Health Signals

Financial health score not available

DEFI DEVELOPMENT CORP UK does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.

Piotroski F-Score Weak
2/9

DEFI DEVELOPMENT CORP UK passes 2 of 9 financial strength tests. 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.

Earnings Quality No Cash Backing
N/A

DEFI DEVELOPMENT CORP UK reported a net loss of $73.8M while operations used $18.0M of cash. With neither figure positive, the ratio between the two carries no quality signal.

Interest Coverage At Risk
N/A

DEFI DEVELOPMENT CORP UK reported an operating loss of $36.4M against $8.9M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.

Key Financial Metrics

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Earnings & Revenue

Revenue
$3.3M
YoY+66.9%
QoQ+24.4%

DEFI DEVELOPMENT CORP UK generated $3.3M in revenue in Q2 2026. This represents an increase of 66.9% from the same quarter a year earlier. Against the prior quarter it is up 24.4%.

EBITDA
-$22.5M
YoY-228.6%
QoQ+59.0%

DEFI DEVELOPMENT CORP UK's EBITDA was -$22.5M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 228.6% from the same quarter a year earlier. Against the prior quarter it is up 59.0%.

Net Income
-$27.3M
YoY-276.8%
QoQ+67.3%

DEFI DEVELOPMENT CORP UK reported -$27.3M in net income in Q2 2026. This represents a decrease of 276.8% from the same quarter a year earlier. Against the prior quarter it is up 67.3%.

EPS (Diluted)
-$1.00
YoY-219.0%
QoQ+68.6%

DEFI DEVELOPMENT CORP UK earned -$1.00 per diluted share (EPS) in Q2 2026. This represents a decrease of 219.0% from the same quarter a year earlier. Against the prior quarter it is up 68.6%.

Cash & Balance Sheet

Cash & Debt
$4.3M
YoY+75.5%
QoQ+17.7%

DEFI DEVELOPMENT CORP UK held $4.3M in cash against $120.6M in long-term debt as of Q2 2026.

Shares Outstanding
31M
YoY+47.3%
QoQ+2.9%

DEFI DEVELOPMENT CORP UK had 31M shares outstanding in Q2 2026. This represents an increase of 47.3% from the same quarter a year earlier. Against the prior quarter it is up 2.9%.

Free Cash Flow

Not reported for Q2 2026.

Dividends Per Share

Not reported for Q2 2026.

Margins & Returns

Gross Margin
99.4%
YoY+0.8pp
QoQ+3.2pp

DEFI DEVELOPMENT CORP UK's gross margin was 99.4% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is up 0.8 percentage points from the same quarter a year earlier. Against the prior quarter it is up 3.2 percentage points.

Operating Margin

Not shown for Q2 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.

Net Margin

Not shown for Q2 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.

Return on Equity

Not reported for Q2 2026.

Capital Allocation

R&D Spending
$83K
YoY-73.5%
QoQ-41.1%

DEFI DEVELOPMENT CORP UK invested $83K in research and development in Q2 2026. This represents a decrease of 73.5% from the same quarter a year earlier. Against the prior quarter it is down 41.1%.

Share Buybacks
$0
QoQ-100.0%

DEFI DEVELOPMENT CORP UK repurchased no shares in Q2 2026. Against the prior quarter it is down 100.0%.

Capital Expenditures

Not reported for Q2 2026.

DFUKF Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

DFUKF quarterly income statement
MetricQ2'2610-KQ1'2610-QQ4'2510-KQ3'2510-QQ2'2510-QQ1'2510-QQ4'2410-KQ3'2410-Q
Revenue$3.3M+66.9%$2.7M+827.7%$4.5M+614.0%$4.6M+647.2%$2.0M+350.3%$287K-30.2%$629K+79.5%$619K+6.0%
Cost of Revenue$21K-25.0%$103K+1371.4%$126K+1610.3%$88K+1000.0%$28K+250.0%$7K-18.9%$7K$8K
Gross Profit$3.3M+68.2%$2.6M+814.1%$4.4M+602.2%$4.5M+642.5%$2.0M+352.3%$280K-30.4%$621K$611K+4.7%
R&D Expenses$83K-73.5%$141K-16.6%$391K+121.4%$269K+78.1%$313K+103.2%$169K-2.5%$177K-49.5%$151K-38.8%
SG&A Expenses$4.1M-13.2%$6.0M+1006.1%$5.5M+790.0%$3.6M+533.3%$4.7M+601.2%$543K-28.4%$622K-3.3%$564K-53.4%
Operating Income-$22.8M-232.9%-$55.2M-6153.7%-$124.8M-18285.5%$72.1M+15978.0%$17.2M+2117.6%-$883K+13.3%-$679K+45.5%-$454K+72.3%
EBITDA-$22.5M-228.6%-$54.9M-6486.9%-$124.4M-22702.2%$72.4M+18074.7%$17.5M+2279.7%-$833K+11.9%-$546K+56.2%-$403K+75.4%
Interest Expense$2.1M+176.6%$2.2M$5.2M$2.9M$770K$0+100.0%N/AN/A
Income Tax$1K-99.9%$0-$19.1M$17.9M$1.2M$0N/AN/A
Net Income-$27.3M-276.8%-$83.4M-10618.5%-$144.5M-29564.9%$56.0M+11995.1%$15.4M+2017.0%-$778K+19.3%-$487K+58.6%-$471K+70.2%
EPS (Basic)-$1.00-191.7%-$3.18-3875.0%-$8.71-17320.0%$2.70+5500.0%$1.09+1462.5%-$0.08+88.6%-$0.05+58.3%-$0.05+70.6%
EPS (Diluted)-$1.00-219.0%-$3.18-$7.74$1.95$0.84-$0.08-$0.05-$0.05+70.6%
Diluted Shares (Avg)27M+41.5%26MN/A30M19M10MN/A10M+6.8%

DFUKF Balance Sheet

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

DFUKF quarterly balance sheet
MetricQ2'2610-KQ1'2610-QQ4'2510-KQ3'2510-QQ2'2510-QQ1'2510-QQ4'2410-KQ3'2410-Q
Total Assets$203.3M+89.6%$229.7M+5424.6%$307.4M+6924.9%$480.0M+10601.8%$107.2M+2155.3%$4.2M-24.3%$4.4M-34.5%$4.5M-28.1%
Current Assets$114.6M+1955.4%$127.8M+4082.5%$121.9M+3622.9%$174.4M+5504.6%$5.6M+63.1%$3.1M-26.9%$3.3M-38.1%$3.1M-49.3%
Cash & Equivalents$4.3M+75.5%$3.7M+104.6%$5.9M+136.8%$8.8M+217.9%$2.5M-23.7%$1.8M-54.1%$2.5M-50.7%$2.8M-52.4%
Short-Term Investments$1.9M+227.7%$2.7M+533.0%$3.7M+980.9%$1.4M$595K$425K$340K$0
Accounts ReceivableN/AN/A$52K-73.3%$52K-68.6%$1.1M+883.1%$631K+422.8%$195K+126.4%$166K+29.8%
Long-Term Investments$0$0$0$0-100.0%$0$0$0$173K
Goodwill$607K0.0%$607K+0.1%$607K0.0%$607K+0.1%$607K+0.1%$607K0.0%$607K+0.1%$607K
Total Liabilities$215.4M+679.8%$219.5M+16654.1%$208.1M+23715.7%$236.2M+44543.8%$27.6M+5494.4%$1.3M+147.8%$874K+0.7%$529K+116.5%
Current Liabilities$94.8M+1743.7%$91.7M+8581.5%$80.8M+13523.6%$85.5M+24332.4%$5.1M+1533.2%$1.1M+202.0%$593K-12.2%$350K+61.6%
Non-Current Liabilities$120.6M+436.4%$127.8M+50307.3%$127.4M+45224.2%$150.6M+84119.8%$22.5M+12468.6%$253K+41.8%$281K+45.8%$179K+546.5%
Long-Term Debt$120.6M+468.4%$127.8M$127.4M$131.4M$21.2MN/A$0N/A
Total Equity-$12.0M-115.1%$10.2M+257.9%$99.3M+2734.4%$243.8M+6062.9%$79.6M+1768.4%$2.8M-42.6%$3.5M-39.8%$4.0M-34.0%
Retained Earnings-$202.6M-3933.7%-$175.3M-1627.3%-$91.8M-879.4%$61.3M+790.1%$5.3M+162.8%-$10.1M-33.4%-$9.4M-41.0%-$8.9M-62.5%

Not reported in any period shown, so not listed: Inventory.

DFUKF Cash Flow Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

DFUKF quarterly cash flow statement
MetricQ2'2610-KQ1'2610-QQ4'2510-KQ3'2510-QQ2'2510-QQ1'2510-QQ4'2410-KQ3'2410-Q
Operating Cash Flow-$4.3M-237.3%-$9.8M-1150.6%-$10.9M-6003.9%-$5.0M-1109.7%-$1.3M-86.8%-$785K+31.5%-$179K+72.9%-$412K+29.7%
Depreciation & Amortization$352K+21.0%$351K+602.0%$352K+162.7%$352K+590.2%$291K+482.0%$50K-31.5%$134K+16546.0%$51K+47563.6%
Stock-Based Compensation$1.7M+81.1%$720K+1233.3%N/A$331K+562.0%$952K+806.7%$54K-50.1%N/A$50K-95.9%
Capital ExpendituresN/AN/A$0-100.0%$0N/AN/A$10K-49.9%$0-100.0%
Free Cash FlowN/AN/A-$10.9M-5681.0%-$5.0M-1109.7%N/AN/A-$189K+72.2%-$412K+30.8%
Investing Cash Flow$10.4M+117.0%$16.2M$14.8M+211071.4%-$175.1M-5835233.3%-$61.3M-924583.0%$0+100.0%-$7K+91.2%-$3K+66.9%
Financing Cash Flow-$5.4M-108.6%-$8.6M-12401.4%-$6.7M-10243.1%$186.4M+345238.9%$63.2M+27237600.0%$70K+5581.8%-$65K-$54K-101.1%
Share Buybacks$0$10.5MN/AN/A$0$0$0N/A

Not reported in any period shown, so not listed: Dividends Paid.

DFUKF Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

DFUKF quarterly financial ratios
MetricQ2'2610-KQ1'2610-QQ4'2510-KQ3'2510-QQ2'2510-QQ1'2510-QQ4'2410-KQ3'2410-Q
Gross Margin99.4%+0.8pp96.1%-1.4pp97.2%-1.6pp98.1%-0.6pp98.6%+0.4pp97.6%-0.3pp98.8%98.7%-1.3pp
Operating Margin-689.2%-2072.8%-2780.7%1558.6%865.6%-307.5%-108.0%-73.3%
Net Margin-823.4%-3130.3%-3219.1%1211.4%777.0%-270.9%-77.5%-76.1%
Return on EquityN/A-818.0%-790.7pp-145.5%-131.6pp23.0%+34.9pp19.4%+38.3pp-27.3%-7.9pp-13.9%+6.3pp-11.9%+14.4pp
Return on Assets-13.4%-27.8pp-36.3%-17.6pp-47.0%-35.9pp11.7%+22.2pp14.4%+31.3pp-18.7%-1.1pp-11.1%+6.5pp-10.5%+14.8pp
Current Ratio1.21+0.1x1.39-1.5x1.51-4.0x2.04-6.8x1.08-9.8x2.89-9.0x5.52-2.3x8.89-19.4x
Debt-to-EquityN/A12.53+12.1x1.28+1.3x0.54+0.4x0.27+0.2x0.46+0.4x0.00-0.1x0.13+0.1x
Asset Turnover0.020.0x0.01-0.1x0.01-0.1x0.01-0.1x0.02-0.1x0.070.0x0.14+0.1x0.140.0x
FCF MarginN/AN/A-243.5%-107.8%N/AN/A-30.1%-66.6%

Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin, FCF Margin.

Frequently Asked Questions

What is DEFI DEVELOPMENT CORP UK's annual revenue?

DEFI DEVELOPMENT CORP UK (DFUKF) reported $11.4M in total revenue for fiscal year 2025. This represents a 442.3% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is DEFI DEVELOPMENT CORP UK's revenue growing?

DEFI DEVELOPMENT CORP UK (DFUKF) revenue grew by 442.3% year-over-year, from $2.1M to $11.4M in fiscal year 2025.

Is DEFI DEVELOPMENT CORP UK profitable?

No, DEFI DEVELOPMENT CORP UK (DFUKF) reported a net income of -$73.8M in fiscal year 2025.

DEFI DEVELOPMENT CORP UK (DFUKF) reported diluted earnings per share of -$4.00 for fiscal year 2025. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

DEFI DEVELOPMENT CORP UK (DFUKF) had EBITDA of -$35.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

As of fiscal year 2025, DEFI DEVELOPMENT CORP UK (DFUKF) had $5.9M in cash and equivalents against $127.4M in long-term debt.

DEFI DEVELOPMENT CORP UK (DFUKF) had a gross margin of 97.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

DEFI DEVELOPMENT CORP UK (DFUKF) has a return on equity of -74.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

DEFI DEVELOPMENT CORP UK (DFUKF) recorded an outflow of $18.0M in free cash flow during fiscal year 2025. This represents a -636.1% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

DEFI DEVELOPMENT CORP UK (DFUKF) recorded an outflow of $18.0M in operating cash flow during fiscal year 2025, representing cash used by core business activities.

DEFI DEVELOPMENT CORP UK (DFUKF) had $307.4M in total assets as of fiscal year 2025, including both current and long-term assets.

DEFI DEVELOPMENT CORP UK (DFUKF) invested $2K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

DEFI DEVELOPMENT CORP UK (DFUKF) invested $1.1M in research and development during fiscal year 2025.

Yes, DEFI DEVELOPMENT CORP UK (DFUKF) spent $11.5M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

DEFI DEVELOPMENT CORP UK (DFUKF) had 29M shares outstanding as of fiscal year 2025.

DEFI DEVELOPMENT CORP UK (DFUKF) had a current ratio of 1.51 as of fiscal year 2025, which is generally considered healthy.

DEFI DEVELOPMENT CORP UK (DFUKF) had a debt-to-equity ratio of 1.28 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

DEFI DEVELOPMENT CORP UK (DFUKF) had a return on assets of -24.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

DEFI DEVELOPMENT CORP UK (DFUKF) has a Piotroski F-Score of 2 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

DEFI DEVELOPMENT CORP UK (DFUKF) reported a net loss of $73.8M while operations used $18.0M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

DEFI DEVELOPMENT CORP UK (DFUKF) reported an operating loss of $36.4M against $8.9M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

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