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DeFi Technologies
DeFi Technologies (DEFI) investor relations material
DeFi Technologies Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary14 Nov, 2025
Executive summary
Q3 2025 delivered $22.5M in revenue and $9M in operating income, marking the third consecutive profitable quarter and record average AUM of $950.7M, ending at $989.1M.
Net inflows for ETP products reached $38.8M in Q3 and $116.2M year-to-date, with 99 products at quarter-end and 100 reached in October.
CEO transition announced: Johan Wattenström appointed CEO and Executive Chairman, with Olivier Roussy Newton remaining as Strategic Advisor.
Financial highlights
Q3 revenue was $22.5M, bringing nine-month cumulative IFRS revenue to $80M.
Q3 operating income was $9M; net income after tax was $3.9M for Q3 and $33.8M for the nine months.
Q3 average AUM rose to $950.7M from $760.2M in Q2, ending at $989.1M, driven by crypto price appreciation and positive ETP inflows.
Valour generated $7.4M in staking/lending income and $2.8M in management fees, both up year-over-year.
Stillman Digital contributed $2.2M in Q3 trading commissions; Reflexivity Research generated $109,500 in research revenue.
Outlook and guidance
2025 annual revenue guidance revised down from $218.6M to $116.6M due to delays in DeFi Alpha arbitrage opportunities and digital asset price consolidation.
Achieving guidance depends on a modest crypto rally into year-end; bullish sentiment on crypto prices due to institutional and retail participation.
Stillman Digital forecasted to close 2025 with $8.6M in revenue and margins in the 25-50% range.
Valour plans further ETP launches and global expansion, with a robust pipeline extending into 2026.
Staking rates expected to return to previous highs as capital from the $100M equity raise is deployed.
How will DeFi Alpha adapt to compressed spreads?
Valour's ETP product innovation and market focus
What is the strategic link to BTQ Technologies?
DeFi Alpha: DAT impact & recovery?
Monetization rate improvement drivers?
Hybridized products: TAM expansion strategy?
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Next DeFi Technologies earnings date
Q4 202531 Mar, 2026
DeFi Technologies
Next DeFi Technologies earnings date
Q4 202531 Mar, 2026
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Frequently asked questions
DeFi Technologies Inc. is a Canada-based technology company specializing in the development and listing of Exchange Traded Products (ETPs). These ETPs offer investment opportunities by providing indirect exposure to underlying cryptocurrencies, digital asset indexes, and other instruments within the decentralized finance (DeFi) sector. DeFi Technologies also engages in decentralized blockchain network activities, contributing to network security, governance, and transaction validation. Furthermore, the company invests in DeFi companies and infrastructure aimed at functioning as an alternative to traditional financial systems. It is headquartered in Toronto, Canada.
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