DeFi Technologies Announces Shareholder Call to Discuss Record 2025 Financial Results with Revenue of $99.1 Million and Net Income of $62.7 Million
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Audited Financial Highlights
Revenue
- Total revenue for the fiscal year ended
December 31, 2025 , was$99.1 million , compared to$31.4 million in fiscal 2024, representing a 215% increase. - For the three months ended
December 31, 2025 , revenue was$20.0 million , compared to$(19.3 million) in Q4 2024.
Net Income
- Net income and comprehensive income for the fiscal year ended
December 31, 2025 was a record$62.7 million , compared to a net loss of$(27.6 million) in fiscal 2024. - For the three months ended
December 31, 2025 , net income was$28.9 million , compared to a net loss of$(22.3 million) in Q4 2024.
Q4 2025 vs. Q4 2024
- For the three months ended
December 31, 2025 , DeFi Technologies reported revenue of$20.0 million and net income of$28.9 million , compared to revenue of$(19.3 million) and a net loss of$(22.3 million) in Q4 2024. - The year-over-year improvement of
$51.2 million in net income reflects the Company's operational transformation and the resilience of its diversified business model across market cycles.
Operating Expenses
- Total operating expenses decreased 14% to
$52.6 million , compared to$61.3 million in 2024. - The decrease was driven primarily by a
$6.0 million reduction in share-based payments and lower operating, general, and administrative costs, reflecting management's continued focus on operating discipline and efficiency.
Valour – Staking, Lending and Management Fees
- For the fiscal year ended
December 31, 2025 , Valour generated$13.1 million in staking and lending income, compared to$13.0 million in 2024. - Management fees increased to
$9.7 million , compared to$6.4 million in 2024, representing 51% growth, driven by higher average AUM. - Average AUM throughout fiscal 2025 was approximately
$809.9 million .
- For the fiscal year ended
December 31, 2025 ,Stillman Digital generated$9.6 million in trading commissions revenue. - This compares to
$2.1 million in fiscal 2024 and reflects the first full year of contribution to DeFi Technologies' consolidated results following theOctober 2024 acquisition.
Reflexivity Research
- For the fiscal year ended
December 31, 2025 , Reflexivity Research generated$0.5 million in research revenue, compared to$1.4 million in 2024. - 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 in advisory revenue for the fiscal year. - 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 of cash). - 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.
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;
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
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
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SOURCE DeFi Technologies Inc.
