DeFi Technologies Inc. Announces Q2 2025 Financial Results: Adjusted Revenues of US$32.1 million, Adjusted EBITDA of US$21.6 million, Adjusted Net Income of US$17.4 million, and Notable Strategic Developments

Executive Summary

• DeFi Technologies Inc. reported strong Q2 2025 financial results, with Adjusted Revenue of US$32.1 million (up from US$25.3 million in Q2 2024), Adjusted EBITDA of US$21.6 million (compared to a negative US$2.5 million in Q2 2024), and Adjusted Net Income of US$17.4 million (compared to a loss of US$6.1 million in Q2 2024).
• The company raised its 2025 annualized operating revenue guidance to approximately US$218.6 million, driven by substantial growth in Valour’s assets under management (AUM), which reached US$947 million by July 31, 2025, and consistent net inflows into its ETP products.
• Strategic developments include the successful listing on Nasdaq, expansion into African and Turkish markets via partnerships, and the launch of new AI-driven trading strategies and research services through its subsidiaries.

Key Details

• Financial Performance (Q2 2025):
  • Adjusted Revenue: US$32.1 million (vs. US$25.3 million in Q2 2024).
  • Adjusted EBITDA: US$21.6 million (vs. negative US$2.5 million in Q2 2024).
  • Adjusted Net Income: US$17.4 million (vs. loss of US$6.1 million in Q2 2024).
  • Revenue drivers included staking income, management fees, and a DeFi Alpha arbitrage trade.
• Valour Asset Management:
  • AUM stood at US$772.8 million as of June 30, 2025, rising to US$947 million by July 31, 2025 (23% month-over-month increase).
  • Net inflows for Q2 2025 were US$25 million; total net inflows for H1 2025 were US$77.4 million.
  • Valour launched 14 new ETPs during the quarter, including SEK-denominated products for Curve DAO, Litecoin, Mantra, Tron, Stellar, Tether Gold, Bitcoin Cash, Unus Sed Leo, OKB, Polygon, Algorand, Filecoin, Arbitrum, and Stacks.
  • Over 75 ETPs are now listed across European and UK exchanges, with a goal of 100 by year-end.
• DeFi Alpha Trading:
  • Generated a significant trade return of US$17.3 million in May 2025 (incorporating a non-cash DLOM valuation adjustment).
  • Total revenue from DeFi Alpha since launch (Q2 2024) is C$155.9 million (US$114.1 million).
  • For the twelve months ended Dec 31, 2024, DeFi Alpha generated C$132.1 million (US$96.7 million) in trading gains.
• Stillman Digital:
  • Generated US$1.9 million in trading commissions in Q2 2025.
  • Completed integration with Talos to provide institutional clients with regulated OTC liquidity.
  • Hired Gary Pike as Head of Trading.
  • 2025 Revenue Guidance: C$12 million to C$16 million.
• Neuronomics:
  • Completed development and testing of "SmartCrypto," an AI-powered trading strategy, with subscription opening in early September 2025.
  • Granted a validator node in the Canton Network, joining institutions like Galaxy Digital, Citadel, and Nasdaq.
  • Appointed Johan Wattenström and Philipp Baretta to the board.
• Reflexivity Research:
  • Generated US$175,750 in research revenues in Q2 2025.
  • Expanded distribution agreements with Beluga and Blockwire.
  • Launching "Macro Monday" newsletter and new sponsorship products.
• DeFi Advisory:
  • Secured inaugural mandate with NVVE for digital asset treasury strategy.
• Corporate & Treasury:
  • Share Buybacks: Repurchased 675,900 shares for US$1,877,135 (approx. US$2.78 per share).
  • Cash Balance: US$26.4 million as of June 30, 2025.
  • Digital Asset Treasury: Approximately US$26 million in digital asset tokens as of June 30, 2025.
  • Total Cash and Treasury Value: US$52.4 million.
  • Nasdaq Listing: Common shares began trading on Nasdaq Capital Market under symbol "DEFT" on May 12, 2025.
  • Institutional Shareholders: Added 78 new institutional shareholders in early July, bringing the total to 84 institutional owners holding over 31 million shares.
• Geographic Expansion:
  • Kenya: Announced design of Kenya Digital Exchange (KDX) with Nairobi Securities Exchange (NSE); Valour appointed GulfCap as advisor for cross-listing ETPs on NSE.
  • Türkiye: Entered collaboration with Misyon Bank and Misyon Kripto to introduce regulated ETPs.

Notable Quotes

• Olivier Roussy Newton, CEO: "Q2 2025 was proof that our model executes in a softer market. We delivered Adjusted Revenues of US$32.1 million, Adjusted EBITDA of US$21.6 million, and Adjusted Net Income of US$17.4 million. The flywheel is turning—each business line is reinforcing the others and compounding momentum."
• Olivier Roussy Newton, CEO: "We are also seeing a structural upgrade in our shareholder base. Since early July, we've welcomed a reported 78 additional institutional investors and funds... The register is deepening with longer-horizon capital, an indicator of quiet rotation toward institutions."