Every 10-Q that DeFi Development Corp. (DFDV) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow DFDV and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full DFDV filings page.
DeFi Development Corp. reported rapidly growing but highly volatile results for the quarter ended June 30, 2026. Revenue rose to $3,314 thousand from $1,986 thousand a year earlier, driven mainly by digital asset treasury income from staking Solana (SOL) and related positions, while real estate platform revenue declined sharply.
Despite higher revenue, the company recorded a net loss of $27,287 thousand for the quarter and $110,677 thousand for the first half of 2026, versus profits in 2025, mainly due to a $72,549 thousand net loss on digital assets and a $22,813 thousand loss on derivatives tied to SOL financing structures. Total assets fell to $203,333 thousand from $307,410 thousand, while long-term debt remained high at $120,564 thousand and stockholders’ equity swung to a deficit of $12,034 thousand.
The company is pivoting fully to its Digital Asset Treasury segment, winding down most legacy real estate operations and increasing use of complex digital asset financing arrangements. It also repurchased 1,601,747 shares for $10,502 thousand, raised modest equity via an ATM and equity line of credit, and reincorporated from Delaware to Nevada, while remaining heavily concentrated in the Solana ecosystem and exposed to crypto market and protocol risks.
DeFi Development Corp. sharply expanded its Solana-focused treasury in Q1 2026 but reported a very large loss driven by crypto volatility and leverage. Revenue rose to $2.7M from $0.3M, almost entirely from digital asset staking and treasury activities, while the legacy real estate platform contributed a small, declining portion.
Net loss widened to $83.4M (basic and diluted EPS $(3.18)) from $0.8M, mainly from a $51.0M net loss on digital assets tied to a drop in SOL, a $22.8M loss on derivative positions linked to digital asset financing, and $10.7M of impairments on liquid staking tokens. Operating expenses also climbed on higher professional fees and headcount.
Digital assets at fair value fell to $65.9M from $136.0M, while additional SOL-linked holdings are carried at $32.7M. Heavy use of digital asset financing arrangements ($83.0M outstanding) and convertible notes ($127.8M long-term debt) left total liabilities at $219.5M, and stockholders’ equity dropped to $10.2M from $99.3M. The board approved winding down most of the Real Estate Platform segment by late Q2 2026 as the company concentrates on the Solana ecosystem.
DeFi Development Corp (DFDV) reported a sharp turnaround for the nine months ended September 30, 2025, driven mainly by its new digital asset treasury strategy focused on Solana (SOL).
Revenue rose to $6.9 million from $1.5 million a year earlier, while net income swung to $70.7 million from a $2.2 million loss, largely due to a $95.6 million gain from changes in the fair value of digital assets. The company now holds $244.3 million of digital assets at fair value and $57.2 million at carrying value, with $152.2 million pledged as collateral and $70.3 million of digital asset financing arrangements on its balance sheet.
Following an April 2025 change of control, DeFi Development added a Digital Asset Treasury segment alongside its legacy Real Estate Platform. It issued $42.0 million of April 2030 convertible notes and $122.5 million of July 2030 convertible notes, using part of the $148.9 million in proceeds and equity raises to acquire SOL and fund a $75.6 million prepaid forward stock purchase, significantly increasing leverage and exposure to crypto market swings.