DeFi Technologies Announces Shareholder Call to Discuss Record 2025 Financial Results with Revenue of $99.1 Million and Net Income of $62.7 Million
Rhea-AI Summary
DeFi Technologies (Nasdaq: DEFT) reported record 2025 results with $99.1M revenue and $62.7M net income for the year ended December 31, 2025. Total cash plus digital treasury and venture portfolio totaled $178.7M at year-end, and average AUM was $809.9M.
Operating expenses fell 14% to $52.6M, Valour management fees grew 51% to $9.7M, and Stillman trading commissions contributed $9.6M in its first full year post-acquisition. A shareholder call is scheduled for April 7, 2026.
AI-generated analysis. Not financial advice.
Positive
- Revenue +215% YoY to $99.1M for fiscal 2025
- Net income record of $62.7M for fiscal 2025
- Operating expenses down 14% to $52.6M
- Average AUM approximately $809.9M in 2025
- Stillman trading commissions $9.6M first full-year contribution
Negative
- Reflexivity Research revenue declined from $1.4M to $0.5M (≈64% drop)
News Market Reaction – DEFT
On the day this news was published, DEFT gained 8.75%, reflecting a notable positive market reaction. Argus tracked a peak move of +16.5% during that session. Our momentum scanner triggered 27 alerts that day, indicating elevated trading interest and price volatility. This price movement added approximately $30M to the company's valuation, bringing the market cap to $368.78M at that time.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
DEFT is up 3.37% with elevated volume, while the only momentum-scanned peer (CANG) is down 4.01% and key listed peers show mixed single‑digit moves, pointing to a stock‑specific reaction.
Previous Crypto,earnings Reports
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Mar 31 | Full-year prelim results | Positive | +24.7% | Preliminary 2025 record revenue and net income with strong cash balance. |
| Nov 14 | Q3 earnings & CEO | Negative | -15.2% | Q3 2025 results with reduced revenue guidance and major equity financing. |
| Nov 12 | Q3 call announcement | Neutral | -5.3% | Scheduling of shareholder webcast to discuss Q3 2025 financial results. |
| Aug 14 | Q2 earnings beat | Positive | -11.7% | Strong Q2 2025 adjusted results and higher 2025 revenue guidance. |
| Aug 13 | Q2 call announcement | Neutral | -2.7% | Announcement of shareholder call to review Q2 2025 results. |
Earnings-related headlines have produced mixed reactions: strong Q2 guidance and results saw selloffs, while the latest full-year 2025 results and update drove a sharp gain, suggesting inconsistent pricing of fundamentals.
Over the past year, DeFi Technologies has repeatedly highlighted strong crypto-linked financials, with Q2 and Q3 2025 results showing solid revenue, adjusted EBITDA and net income, alongside rapid AUM growth at Valour. Guidance was first raised, then later revised down and paired with a large equity financing and CEO transition. The March 31, 2026 preliminary full-year release reported record $99.1M revenue and $62.7M net income plus a strong cash position, and today’s audited results and shareholder call continue that full‑year earnings narrative.
Historical Comparison
Historically, crypto/earnings headlines for DEFT moved the stock an average of -2.03%. Today’s move of 3.37% on audited record 2025 results is modestly stronger than the typical same‑tag reaction.
Earnings releases progressed from strong Q2 and Q3 2025 results through preliminary full-year 2025 figures to today’s audited numbers and shareholder call, showing continued emphasis on Valour AUM growth, profitability, and balance sheet strength.
Market Pulse Summary
The stock moved +8.8% in the session following this news. A strong positive reaction aligns with the record $99.1M revenue and $62.7M net income, especially given DEFT had traded well below its 200-day MA and 52-week high. Historical crypto/earnings headlines have sometimes sold off on good news, so a sharp gain could reflect short-term repositioning. Investors would need to watch whether elevated volume persists and how quickly prior concerns around filings, governance, and Nasdaq bid-price compliance fade in subsequent sessions.
Key Terms
defi financial
staking financial
lending financial
aum financial
digital asset treasury financial
etp financial
structured product offerings financial
treasury programs financial
AI-generated analysis. Not financial advice.
IMPORTANT – To register for the webcast see below:
When: Tuesday, April 7, 2026
Time: 11:00 AM Eastern Time
Topic: DeFi Technologies 2025 Financials
Register in advance for this webinar:
https://zoom.us/webinar/register/WN_qGSU6eLxTCmJ-NaaaWS_kQ
After registering, you will receive a confirmation email containing information about joining the webinar.
Audited Financial Highlights
Revenue
- Total revenue for the fiscal year ended December 31, 2025, was
$99.1 million $31.4 million 215% increase. - For the three months ended December 31, 2025, revenue was
$20.0 million $(19.3 million )
Net Income
- Net income and comprehensive income for the fiscal year ended December 31, 2025 was a record
$62.7 million $(27.6 million ) - For the three months ended December 31, 2025, net income was
$28.9 million $(22.3 million )
Q4 2025 vs. Q4 2024
- For the three months ended December 31, 2025, DeFi Technologies reported revenue of
$20.0 million $28.9 million $(19.3 million )$(22.3 million ) - The year-over-year improvement of
$51.2 million
Operating Expenses
- Total operating expenses decreased
14% to$52.6 million $61.3 million - The decrease was driven primarily by a
$6.0 million
Valour – Staking, Lending and Management Fees
- For the fiscal year ended December 31, 2025, Valour generated
$13.1 million $13.0 million - Management fees increased to
$9.7 million $6.4 million 51% growth, driven by higher average AUM. - Average AUM throughout fiscal 2025 was approximately
$809.9 million
Stillman Digital
- For the fiscal year ended December 31, 2025, Stillman Digital generated
$9.6 million - This compares to
$2.1 million
Reflexivity Research
- For the fiscal year ended December 31, 2025, Reflexivity Research generated
$0.5 million $1.4 million - Management is focused on reinvigorating the business through expanded distribution partnerships, new sponsorship revenue channels, and a refreshed product offering.
DeFi Advisory
- The Company launched its DeFi Advisory business line in Q3 2025, generating
$0.3 million - DeFi Advisory is positioned as a full-stack partner for corporate digital asset treasury programs.
Audited Cash and Treasury Position
- Cash balance: As of December 31, 2025, DeFi Technologies' consolidated cash, including USDT/USDC balance stood at
$113.8 million $91.2 million - Digital asset treasury holdings: As of December 31, 2025, the Company's digital asset treasury holdings totaled approximately
$35.5 million - Venture portfolio: As of December 31, 2025, the Company's venture and private portfolio was valued at approximately
$29.4 million
Together, total cash, treasury, and venture portfolio value stood at approximately
Comment from Johan Wattenström, Chief Executive Officer of DeFi Technologies
"These results reflect the strength of the business model we have built. Valour continued to scale its global ETP platform with more than 100 listed products and strong inflows throughout the year. Stillman Digital delivered its first full year of contribution and further strengthened the institutional layer of our platform. Across the business, we have demonstrated that DeFi Technologies is not reliant on any single product, revenue stream, or market environment. We have built a durable business with multiple pathways for growth and believe we have never been better positioned to scale the platform and capitalize on the opportunities ahead.
We believe DeFi Technologies is one of the few profitable companies in the digital asset sector, across both public and private markets, with demonstrated earnings power and a platform built to generate revenue across cycles. That distinction matters. It reflects a business designed not only to grow, but to monetize effectively and compound value over time.
We ended the year with a much stronger financial position, including more than
The capital we raised has also enhanced our ability to increase monetization across the platform, particularly by strengthening the trading, hedging, and market-making infrastructure that supports Valour's issuance stack and allows us to earn additional income on AUM more efficiently. As we look ahead to 2026, we intend to build on that momentum by scaling Valour's structured product offerings, advancing institutional fund structures such as UCITS, AMCs, and other regulated investment vehicles, supporting Stillman's institutional execution and infrastructure growth, and broadening our reach across new markets and distribution channels.
More broadly, we are building for the convergence of decentralized finance and traditional capital markets. We see a significant long-term opportunity to create the products, infrastructure, and institutional rails that enable capital to move between these two worlds in a regulated, efficient, and scalable way.
We are entering 2026 from a position of strength, with a proven business model, growing monetization, and the financial flexibility to invest in the next phase of growth. We believe we are still in the early stages of building the institutional gateway to the future of finance."
About DeFi Technologies
DeFi Technologies Inc. (Nasdaq: DEFT) (CBOE CA: DEFI) (GR: R9B) is a financial technology company bridging the gap between traditional capital markets and decentralized finance ("DeFi"). As the first Nasdaq-listed digital asset manager of its kind, DeFi Technologies offers equity investors diversified exposure to the broader decentralized economy through its integrated and scalable business model. This includes Valour, which offers access to one hundred of the world's most innovative digital assets via regulated ETPs; Stillman Digital, a digital asset prime brokerage focused on institutional-grade execution and custody; Reflexivity Research, which provides leading research into the digital asset space; Neuronomics, which develops quantitative trading strategies and infrastructure; and DeFi Alpha, the company's internal arbitrage and trading business line. With deep expertise across capital markets and emerging technologies, DeFi Technologies is building the institutional gateway to the future of finance. Follow DeFi Technologies on LinkedIn and X/Twitter, and for more details, visit https://defi.tech/
DeFi Technologies Subsidiaries
About Valour
Valour Inc. and Valour Digital Securities Limited (together, "Valour") issues exchange traded products ("ETPs") that enable retail and institutional investors to access digital assets in a simple and secure way via their traditional bank account. Valour is part of the asset management business line of DeFi Technologies. For more information about Valour, to subscribe, or to receive updates, visit valour.com.
About Stillman Digital
Stillman Digital is a leading digital asset liquidity provider that offers limitless liquidity solutions for businesses, focusing on industry-leading trade execution, settlement, and technology. For more information, please visit https://www.stillmandigital.com
About Reflexivity Research
Reflexivity Research LLC is a leading research firm specializing in the creation of high-quality, in-depth research reports for the bitcoin and digital asset industry, empowering investors with valuable insights. For more information please visit https://www.reflexivityresearch.com/
Analyst Coverage of DeFi Technologies
A full list of DeFi Technologies analyst coverage can be found here: https://defi.tech/investor-relations#research.
For inquiries from institutional investors, funds, or family offices, please contact: ir@defi.tech
Cautionary note regarding forward-looking information:
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, the financial results of the Company; revenue outlook of the Company and its business segments; growth of AUM; geographic expansion of the Company's core businesses; revenue generating opportunities for the Company's digital asset holdings; upcoming ETP launches; revenue generation by DeFi Alpha and competitive factors; integration of Stillman Digital and plans and outlook for 2026; fluctuation in digital asset prices; geographic expansion of the Company; investment and interest in the digital asset sector; development of the DeFi Advisory business line; future collaborations and partnerships; development of ETPs; future acquisitions by the Company; the regulatory environment with respect to the growth and adoption of decentralized finance; the pursuit by DeFi Technologies and its subsidiaries of business opportunities; and the merits or potential returns of any such opportunities. Forward-looking information is based on the then current expectations, beliefs, assumptions, estimates, and forecasts about the Company and the industry and markets in which it operates. Forward-looking information and statements are made based upon numerous assumptions, including among others, that the unaudited results that are disclosed in this press release will not differ from the audited results, which shall be released upon completion of the audit review. Although the assumptions made by the Company in providing forward-looking information or making forward-looking statements are considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate in the future. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company, as the case may be, to be materially different from those expressed or implied by such forward-looking information. Such risks, uncertainties and other factors include, but are not limited to the acceptance of Valour exchange traded products by exchanges; ability of the Company to successfully integrate and grow Reflexivity Research, Stillman Digital, and DeFi Advisory; the proliferation of digital asset treasury companies; growth and development of DeFi and the digital asset sector; rules and regulations with respect to DeFi and digital assets; fluctuation in digital asset price levels; general business, economic, competitive, political and social uncertainties. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
THE CBOE
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SOURCE DeFi Technologies Inc.