Key Highlights
- DEFT shares surged 32% during after-hours trading Tuesday
- Unaudited FY25 revenue reached $99.1M, representing a 215% increase from the prior year’s $31.4M
- Fourth quarter revenue of $20.0M came in below the $33.0M analyst estimate
- The firm achieved net income of $62.7M, compared to a $27.6M net loss in the previous fiscal year
- Annual financial statement filing will be postponed while awaiting a SOC 2 Type 2 assessment from an external vendor — the delay is unrelated to any auditor conflicts or accounting concerns
DeFi Technologies delivered preliminary unaudited revenue totaling $99.1 million for the fiscal year ending 2025, marking a substantial 215% increase from the $31.4 million recorded in fiscal 2024. Market participants responded enthusiastically — shares climbed 32% in extended trading.
The company’s return to profitability stood out as one of the report’s most compelling highlights. Net income totaled $62.7 million, representing a dramatic $90.3 million improvement from the $27.6 million net loss recorded during fiscal 2024.
However, not all metrics exceeded expectations. Fourth quarter revenue of $20.0 million underperformed the Street’s $33.0 million projection. This shortfall warrants further examination.
Valour, the firm’s asset management division, maintained average assets under management of $809.9 million throughout 2025. This performance stemmed from new product introductions, sustained investor interest, and supportive conditions within digital asset markets.
Valour’s exchange-traded product offerings attracted net inflows totaling $110.1 million over the fiscal year. The platform currently features over 100 products listed across global exchanges.
Stillman Digital Performance and Strategic Growth
Stillman Digital, which serves institutional clients, delivered results for its initial complete fiscal year in 2025. CEO Johan Wattenström characterized the division as having “further strengthened the institutional layer” supporting the company’s overall infrastructure.
Wattenström emphasized that these outcomes “reflect the strength of the business model we have built,” highlighting the company’s diversified revenue channels and comprehensive product offerings as critical factors driving sustained performance.
Annual Filing Postponement Details
DeFi Technologies announced it will not meet the scheduled deadline for filing audited annual financial statements covering the year concluded December 31, 2025. This encompasses management’s discussion and analysis along with required CEO and CFO certifications.
The company provided explicit reasoning: the firm is awaiting completion of a SOC 2 Type 2 assessment conducted by an external service provider. This represents an independent audit verification process.
Crucially, the postponement does not stem from any conflict with the company’s auditing firm. Management confirmed no concerns regarding financial statement accuracy and identified no deficiencies in internal financial reporting controls.
This clarification proved significant for investors. Even with the filing delay announcement, shares rallied sharply on the strength of revenue growth and profitability achievements.
The fourth quarter revenue figure of $20.0 million represents the primary weakness within an otherwise robust full-year performance.
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