NASDAQ · Financial Statements

DeFi Development Corp. (DFDV) Financial Statements

$3.71 NASDAQ: DFDV Market Cap $120.86M

DeFi Development Corp. most recently reported annual revenue of $11.0M, a net loss of $74.0M. Revenue grew at an average annual rate of 40.6% over the last 5 fiscal years. See the full income statement, balance sheet, and cash flow statement below, plus valuation and return ratios.

DeFi Development Corp.: Revenue rose from $2.0M in 2020 to $11.0M in 2025, a change of +450.0% over 5 years; net profit was positive in 0 of 6 reported years; operating margin moved from 25.2% to -67.0%, a shift of -92.2 percentage points; the most recent year shows a net loss of $74.0M.

Income Statement — 6 Years (USD millions)

Metric202020212022202320242025
Revenue$2.0M$2.0M$2.0M$2.0M$2.0M$11.0M
Operating Expenses$1.0M$3.0M$4.0M$5.0M$5.0M$19.0M
Operating Profit$0$-1.0M$-2.0M$-3.0M$-3.0M$-8.0M
Operating Margin25.2%-53.3%-80.0%-170.0%-143.1%-67.0%
Other Income$0$-1.0M$0$0$0$-66.0M
Interest$0$0$0$0$0$9.0M
Depreciation$0$0$2.0M$0$0$1.0M
Profit Before Tax$0$-2.0M$-1.0M$-3.0M$-3.0M$-74.0M
Tax$0$0$730,000$0$0$-10,000
Net Profit$0$-2.0M$-1.0M$-3.0M$-3.0M$-74.0M
EPS$0.04$-0.18$-0.14$-0.46$-0.28$-4.00
Dividend Payout0.0%0.0%0.0%0.0%0.0%0.0%

Quarterly Results — Last 12 Quarters (USD millions)

8 duplicate period labels in the source data were collapsed.

MetricSep '23Dec '23Mar '24Jun '24Sep '24Dec '24Mar '25Jun '25Sep '25Dec '25Mar '26Jun '26
Revenue$1.0M$0$0$0$1.0M$1.0M$0$2.0M$5.0M$4.0M$3.0M$3.0M
Operating Expenses$2.0M$2.0M$1.0M$1.0M$1.0M$1.0M$1.0M$-15.0M$-67.0M$7.0M$7.0M$26.0M
Operating Profit$-2.0M$-1.0M$-1.0M$-1.0M$0$-1.0M$-1.0M$17.0M$72.0M$-2.0M$-4.0M$-23.0M
Operating Margin-280.7%-355.8%-247.7%-193.2%-73.4%-108.0%-307.5%865.6%1558.6%-52.4%-157.3%-689.2%
Interest$0$0$0$0$0$0$0$1.0M$3.0M$5.0M$3.0M$4.0M
Profit Before Tax$-2.0M$-1.0M$-1.0M$-1.0M$0$0$-1.0M$17.0M$74.0M$-164.0M$-83.0M$-27.0M
Tax$0$0$0$0$0$0$0$7.2M$24.3M$11.7M$0$0
Net Profit$-2.0M$-1.0M$-1.0M$-1.0M$0$0$-1.0M$15.0M$56.0M$-144.0M$-83.0M$-27.0M
EPS$-0.20$-0.19$-0.10$-0.08$-0.05$-0.05$-0.08$0.84$1.83$-6.59$-3.18$-1.00

Over the 6 years reported for DeFi Development Corp., cash stood at $6.0M in the latest year, shareholders' equity was $0, current assets covered current liabilities 1.51 times.

Balance Sheet — 6 Years (USD millions)

Metric202020212022202320242025
Total Assets$1.0M$2.0M$1.0M$7.0M$4.0M$307.0M
Current Assets$1.0M$2.0M$1.0M$5.0M$3.0M$122.0M
Cash$0$2.0M$1.0M$5.0M$3.0M$6.0M
Inventory$0$0$0$0$0$0
Receivables$0$0$0$0$0$0
Fixed Assets$0$0$0$0$0$0
Capital Work in Progress$0$0$0$0$0$0
Investments$0$0$0$0$0$4.0M
Other Assets$0$0$0$1.0M$1.0M$1.0M
Total Liabilities$1.0M$1.0M$1.0M$1.0M$1.0M$208.0M
Current Liabilities$0$0$0$1.0M$1.0M$81.0M
Borrowings$0$0$0$0$0$127.0M
Other Liabilities$1.0M$1.0M$1.0M$1.0M$1.0M$81.0M
Equity$0$0$0$0$0$0
Reserves$0$0$1.0M$6.0M$4.0M$99.0M

For DeFi Development Corp., operating cash flow was positive in 0 of 6 reported years; free cash flow in the latest year was negative at $18.0M; free cash flow was positive in 0 of 6 years; financing activities used $94.0M in the latest year, which covers debt repayment, dividends and buybacks.

Cash Flow Statement — 6 Years (USD millions)

Metric202020212022202320242025
Operating Cash Flow$0$0$-1.0M$-2.0M$-2.0M$-18.0M
Investing Cash Flow$0$0$0$0$0$-222.0M
Financing Cash Flow$1.0M$0$0$-1.0M$0$-94.0M
Net Cash Flow$0$1.0M$-1.0M$4.0M$-3.0M$3.0M
Free Cash Flow$0$0$-1.0M$-2.0M$-2.0M$-18.0M

Valuation & Return Ratios

MetricValue
PEG Ratio0.00
EV / EBITDA-1.27
FCF Yield-27.58%
Quick Ratio1.21
Interest Coverage4.66
Return 1Y-87.24%
Return 3Y—
Return 5Y—

DeFi Development Corp. (DFDV) financials — frequently asked questions

What is DeFi Development Corp.'s annual revenue?

DeFi Development Corp. (DFDV) reported annual revenue of $11.0M in its most recent fiscal year.

What is DeFi Development Corp.'s net profit?

DeFi Development Corp. (DFDV) reported a net loss of $74.0M in its most recent fiscal year.

What is DFDV EV/EBITDA?

DeFi Development Corp.'s enterprise value to EBITDA (EV/EBITDA) ratio is -1.27. A negative value means EBITDA was negative over the period, so the ratio is not a meaningful valuation measure.

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Data for information only, not investment advice. Figures may be delayed or inaccurate; verify against company filings. See our disclaimer.