Key Highlights
- DEFT shares rallied 32% during after-hours trading on Tuesday
- Preliminary fiscal 2025 revenue reached $99.1M, representing a 215% year-over-year increase from $31.4M
- Fourth quarter revenue of $20.0M fell below analyst expectations of $33.0M
- The firm turned profitable with net income of $62.7M, reversing a $27.6M net loss from the previous year
- Filing of annual results will be postponed while awaiting a SOC 2 Type 2 report from an external vendor — the delay is unrelated to auditor disputes or financial reporting concerns
DeFi Technologies unveiled preliminary unaudited revenue totaling $99.1 million for its fiscal 2025 period, marking a substantial 215% increase versus the $31.4 million recorded in fiscal 2024. Market participants responded immediately — shares jumped 32% in after-hours activity.
The company’s shift to profitability across the full year stood out as a major achievement in the release. Net income registered at $62.7 million, representing a $90.3 million improvement from the $27.6 million net loss reported during fiscal 2024.
However, not all metrics exceeded expectations. Fourth quarter revenue totaling $20.0 million came up short against the $33.0 million analyst forecast. This shortfall warrants attention moving forward.
Valour, which operates as the company’s asset management division, recorded average assets under management reaching $809.9 million throughout 2025. This growth stemmed from new product introductions, sustained investor appetite, and supportive digital asset market dynamics.
Net capital inflows into Valour’s ETP offerings totaled $110.1 million over the fiscal year. The platform currently features over 100 listed products across global markets.
Stillman Digital and Strategic Growth Initiatives
Stillman Digital, serving the institutional client segment, completed its inaugural full year of operations during 2025. CEO Johan Wattenström noted it has “further strengthened the institutional layer” within the broader platform.
Wattenström emphasized the results “reflect the strength of the business model we have built,” highlighting diversified revenue channels and multiple product offerings as critical factors driving the company’s stability.
Annual Filing Postponement Details
DeFi Technologies announced it will not meet the scheduled deadline for filing audited annual financial statements covering the year ending December 31, 2025. This encompasses the management discussion and analysis along with associated CEO and CFO certifications.
The company provided explicit clarification regarding the cause: it’s awaiting completion of a SOC 2 Type 2 report from an external vendor. This represents an independent, auditor-validated evaluation process.
The postponement has no connection to any disputes with auditing firms. The company further confirmed there are no complications with its financial statements and no identified deficiencies in internal controls governing financial reporting.
This transparency resonated with investors. Even with the filing postponement, shares climbed sharply based on the revenue performance and profitability figures.
The fourth quarter revenue total of $20.0 million continues to represent the weaker element within an otherwise robust full-year performance.
