ThreeD Capital Inc. Releases Results For the Year Ended June 30, 2025

Executive Summary

• ThreeD Capital Inc. reported a net loss of $18.85 M for the year ended June 30, 2025, compared with a profit of $4.02 M in the prior year.
• Net asset value (NAV) per share fell to $0.40 from $0.86 a year earlier, reflecting declines in portfolio fair values.
• Cash and short‑term investments decreased sharply to $5.3 K, while total assets contracted to $31.43 M from $56.17 M.

Key Details

• Cash, Investments & Digital Assets (June 30, 2025): $28.8 M total.
• Net Asset Value per Share: $0.40 vs. $0.86 at June 30, 2024.
• Financial Highlights (Year‑ended June 30, 2025 vs. 2024):
• Net investment and digital assets losses: $(15.99 M) vs. $(6.26 M).
• Operating, general & administrative expenses: $(3.72 M) vs. $(4.26 M).
• Net loss: $(18.85 M) vs. profit of $4.02 M.
• Comprehensive loss: $(18.85 M) vs. $4.02 M gain.
• Basic & diluted EPS: $(0.29) vs. $0.08 (2024).
• Balance Sheet Highlights:
• Cash: $5,286 vs. $482,146 (2024).
• Investments at fair value: $25.60 M vs. $51.58 M (2024).
• Digital assets at fair value less cost to sell: $3.21 M vs. $3.16 M (2024).
• Total assets: $31.43 M vs. $56.17 M (2024).
• Liabilities: $977,781 vs. $11.46 M (2024).
• Share capital, contributed surplus & warrants: $156.16 M vs. $151.57 M (2024).
• Deficit: $(126.58 M) vs. $(107.73 M) (2024).
• Management Commentary: Chairman and CEO Sheldon Inwentash noted that declines in fair value of portfolio holdings drove both realized and unrealized losses, but expressed confidence in the long‑term potential of core investments.

Notable Quotes

“During the year, ThreeD experienced a decline in the fair value of several of our portfolio holdings, resulting in both realized and unrealized losses. While short-term market conditions impacted valuations, we remain confident in the long-term potential of our core investments.” – Sheldon Inwentash, Chairman & CEO

Materiality Assessment: Material – Negative (significant loss and NAV decline).