DeFi Technologies Announces Audited Full Year 2025 Financial Results with Record Revenue of $99.1 Million and Record Net Income of $62.7 Million

• Record revenue and profitability: DeFi Technologies reported record annual revenue of $99.1 million and record net income and comprehensive income of $62.7 million for the fiscal year ended December 31, 2025. For the three months ended December 31, 2025, the Company reported revenue of $20.0 million and net income of $28.9 million. These results represent a 215% increase in annual revenue and a $90.3 million improvement in net income year-over-year, reflecting the strength of the Company’s diversified and scalable business model.
• Substantial AUM growth: Valour’s asset management business reported an average AUM of $809.9 million throughout 2025, reflecting continued investor demand, new product launches, and favorable digital asset market conditions. Valour also achieved net inflows of $110.1 million into its ETP products during fiscal 2025.
• Balance sheet transformation: As of December 31, 2025, DeFi Technologies held $113.8 million in cash and USDT/USDC ($91.2 M of cash). Digital asset treasury holdings totaled approximately $35.5 million, and the Company’s venture and private portfolio was valued at approximately $29.4 million, bringing total cash, treasury, and venture portfolio value to approximately $178.7 million.
• Stillman Digital – first full year of contribution: Trading commissions revenue grew 355% to $9.6 million in fiscal 2025, compared to $2.1 million in 2024, reflecting the first full year of contribution from Stillman Digital’s institutional trading platform following its October 2024 acquisition. Stillman closed fiscal 2025 ahead of its initial guidance range.

TORONTO, April 2, 2026 /PRNewswire/ – DeFi Technologies Inc. (the „Company“ or „DeFi Technologies“) (Nasdaq: DEFT) (CBOE CA: DEFI) (GR: R9B), a financial technology company bridging the gap between traditional capital markets and decentralized finance („DeFi„), today announced its audited financial results for the fiscal year ended December 31, 2025, and confirms that it has filed its annual financial statements for the year ended December 31, 2025 and associated management’s discussion and analysis and certifications on SEDAR+ and 2025 Annual Report on Form 40-F on EDGAR. All dollar amounts in this press release are in U.S. dollars, unless otherwise stated. 

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.

Stillman Digital

• 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 the October 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 $178.7 million as of year-end. The Company regularly monitors its cash and digital asset reserves on a consolidated basis and allocates a portion of its digital asset treasury reserve to support ETP market risk hedging.