Key Highlights
- Shares of DEFT climbed 32% during after-hours trading on Tuesday
- Unaudited FY25 revenue totaled $99.1M, representing a 215% increase from the prior year’s $31.4M
- Fourth-quarter revenue of $20.0M fell below the $33.0M analyst estimate
- Net income turned positive at $62.7M versus a $27.6M loss in the previous fiscal year
- Filing of annual results will be postponed while awaiting a SOC 2 Type 2 report from an external vendor—no audit conflicts or accounting problems cited
DeFi Technologies delivered preliminary unaudited fiscal year 2025 revenue of $99.1 million, marking a substantial 215% increase over the $31.4 million recorded in fiscal 2024. Investors responded enthusiastically in extended trading, pushing shares up 32%.
The company’s return to profitability stood out as a major achievement in the preliminary report. DeFi Technologies recorded net income of $62.7 million for the full year, representing a dramatic $90.3 million improvement from the $27.6 million net loss reported in fiscal 2024.
However, not all metrics beat expectations. Fourth-quarter revenue of $20.0 million came in below the Street’s $33.0 million estimate, creating a notable discrepancy that warrants attention.
Valour, the firm’s asset management division, maintained average assets under management of $809.9 million throughout fiscal 2025. This performance was driven by fresh product introductions, sustained investor appetite, and supportive conditions in digital asset markets.
Valour’s exchange-traded product offerings attracted $110.1 million in net inflows over the fiscal period. The division’s global footprint now encompasses more than 100 listed investment products.
Stillman Digital Contribution and Growth Strategy
Stillman Digital, which serves institutional clients, wrapped up its first complete fiscal year of operations in 2025. CEO Johan Wattenström noted that the division has “further strengthened the institutional layer” of DeFi Technologies’ overall platform.
Wattenström credited the company’s performance to its diversified business framework, stating the results “reflect the strength of the business model we have built.” He emphasized that multiple revenue channels and product offerings have been critical to maintaining operational stability.
Annual Filing Postponement Details
DeFi Technologies announced it would not meet the standard deadline for filing its audited annual financial statements covering the year ended December 31, 2025. The delay also affects the accompanying management discussion and analysis, along with CEO and CFO certification documents.
The company provided clear rationale: it is awaiting completion of a SOC 2 Type 2 report from an external service provider. This report represents an independent verification conducted by qualified auditors.
Management emphasized that the postponement stems from no dispute with its auditing firm. Additionally, DeFi Technologies confirmed there are no problems with its financial reporting and no identified deficiencies in internal financial controls.
This transparency appeared to reassure market participants. Even with the filing delay announcement, shares rallied substantially on the strength of the revenue growth and profitability turnaround.
The fourth-quarter revenue shortfall of $20.0 million versus expectations remains the primary area of concern in an otherwise impressive annual performance.
