DeFi Technologies Reports Preliminary FY 2025 Revenue Of $99.1M Vs. $31.4M YoY; Q4 Revenue Of $20.0M vs. $(19.3M) YoY

Preliminary Unaudited Financial HighlightsRevenueTotal 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 IncomeNet 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 2024For 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 ExpensesTotal 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 FeesFor 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 DigitalFor 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 ResearchFor 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 AdvisoryThe 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.Preliminary Unaudited Cash and Treasury PositionCash 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.