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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 revenue was $22.5 million with $9 million in operating income, marking the third consecutive profitable quarter and robust operational performance.
Assets under management (AUM) reached a record $989.1 million as of September 30, 2025, up from $772.9 million in Q2, driven by net inflows and digital asset price appreciation.
Net inflows for ETP products totaled $38.8 million in Q3 and $116.2 million year-to-date, with 100 ETPs listed by October.
CEO transition: Johan Wattenström appointed CEO and Executive Chairman, with Olivier Roussy Newton remaining as Strategic Advisor.
Financial highlights
Q3 2025 revenue was $22.5 million, with nine-month cumulative revenue of $80 million.
Q3 operating income was $9 million; net income after tax was $3.9 million for Q3 and $33.8 million for the nine months.
Valour generated $7.4 million in staking/lending income and $2.8 million in management fees, both up year-over-year.
Stillman Digital contributed $2.2 million in Q3 trading commissions; Reflexivity Research generated $109,500 in research revenue.
Cash and digital asset treasury totaled $165.7 million as of September 30, 2025.
Outlook and guidance
2025 annual revenue guidance revised down from $218.6 million to $116.6 million 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.
Company expects continued AUM growth and is positioned to capitalize on future arbitrage opportunities as market conditions evolve.
Stillman Digital forecasted to close 2025 with $8.6 million in revenue and margins in the 25-50% range.
Valour plans further ETP launches and global expansion, with a robust pipeline extending into 2026.
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 arbitrage: What market changes reduced spreads?
New CEO's immediate strategic priorities?
Stillman Digital: Key initiatives for 2026 growth?
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
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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