DeFi Technologies Inc. (NASDAQ: DEFT) reported revenue of $11.2 million and net income of $4.9 million for the three months ended March 31, 2026, according to financial results released by the company.

The revenue figure represents a decline from $43.8 million in the first quarter of 2025, while net income decreased from $30.0 million in the same prior-year period. Core operating revenue, excluding realized and unrealized gains and losses, totaled $6.3 million compared to $8.3 million in Q1 2025.

Operating expenses decreased to $11.4 million from $12.5 million in the first quarter of 2025. The company attributed this reduction to cost discipline across its platform, including lower share-based payments, partially offset by higher operating and administrative expenses related to growth initiatives.

As of March 31, 2026, DeFi Technologies held $103.4 million in combined cash and stablecoins (USDT/USDC), $23.5 million in digital asset treasury holdings, and a venture portfolio valued at $29.1 million. The company reported positive working capital of $47.3 million, compared to negative working capital of $5.1 million at December 31, 2025.

Valour, the company's exchange-traded product platform, generated $3.3 million in management fees, staking, and lending income during the quarter on average quarterly assets under management of $533.6 million. This compares to $6.1 million in combined fees and income in Q1 2025, when average AUM was $789 million.

Stillman Digital, the company's trading platform, contributed $2.9 million in trading commission revenue, an increase from $2.1 million in the first quarter of 2025.

The Toronto-based financial technology company operates in the decentralized finance sector, providing access to digital assets through investment products and trading infrastructure. DeFi Technologies trades on NASDAQ under the ticker DEFT and on CBOE Canada as DEFI.