Earnings

DeFi Technologies Announces Preliminary Unaudited Full Year 2025 Financial Results with Record Revenue of $99.1 Million and Record Net Income of $62.7 Million; Appoints New Independent Chair of the Audit Committee

DeFi Technologies Clears Audit Hurdle With Record $99M Revenue, But Nasdaq Compliance Looms

By The Northwire Desk — AI Analysis Mar 31, 2026 · 17:00 DEFI · 0.79 DEFI TECHNOLOGIES INC.

Executive Summary

DeFi Technologies released audited full-year 2025 financial results on April 2, 2026, reporting record revenue of $99.1 million (+215% YoY) and record net income of $62.7 million, reversing a $27.6 million loss in FY2024.
The audited figures exactly match the preliminary unaudited results released on March 31, 2026.
The company reported a combined cash, digital-asset treasury, and venture portfolio balance of approximately $178.7 million as of December 31, 2025.
Subsidiary performance was highlighted: Valour maintained ~$809.9 million in average AUM, Stillman Digital generated $9.6 million in trading commissions (355% YoY growth), and the new DeFi Advisory segment contributed $0.3 million.
Operating expenses decreased 14% to $52.6 million, driven by reduced share-based compensation and lower SG&A.
The release coincides with the resolution of the Management Cease Trade Order (MCTO) issued on April 1, 2026, which was triggered by a delayed FY2025 audit due to a pending SOC 2 Type 2 report from a third-party counterparty.

Material Impact

The audited results are fully in line with the preliminary numbers disclosed three days prior, meaning the market has already priced in the $99.1 million revenue and $62.7 million net income.
The primary impact is procedural and risk-mitigating: filing the audited statements lifts the MCTO, removes the continuous disclosure default status, and restores normal insider trading privileges.
No new operational metrics, guidance updates, or strategic surprises were introduced. The narrative remains consistent with management's prior claims of a "fortress balance sheet" and vertically integrated growth model.
Given the lack of incremental information and the direct overlap with the March 31 release, the market-moving potential is limited to short-term relief from regulatory overhang.

DEFI · Price

Company Overview

DeFi Technologies operates as a vertically integrated digital asset infrastructure and asset management firm.
Flagship project: Valour Inc., a regulated digital-asset ETP issuer with approximately 100+ listed products across European and Latin American exchanges, managing ~$810 million in AUM.
Core subsidiaries include Stillman Digital (institutional prime brokerage and OTC trading), DeFi Alpha (proprietary arbitrage desk), Reflexivity Research (market intelligence), and DeFi Advisory (institutional consulting).
The company's strategy focuses on bridging traditional finance and decentralized ecosystems through regulated products, institutional liquidity provision, and strategic venture investments.

More from DEFI TECHNOLOGIES INC.