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BREAKING: Q1 2025 Financial Results - Revenues of C$62.7 million (US$43.1 million)
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Investor relations

Digital assets are transforming the financial system. We make it easy to invest in the rapidly growing blockchain revolution.

We believe that traditional investors should have the opportunity to invest in digital assets, including cryptocurrencies in a trusted and secure manner, without creating a separate brokerage or bank account.

DeFi Technologies is a financial technology company that allows traditional investors to gain exposure to a diversified portfolio of digital assets across the decentralized finance and Web3 sector. We capture the upside in the explosive growth of digital assets like Bitcoin, Ethereum, Solana and other Web3 protocols via regulated equity instruments. We are one of the only publicly traded companies built to give investors direct exposure to these nascent markets in a regulated, secure manner.

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FINANCIAL OVERVIEW
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Capital Structure
Ticker Symbols
CBOE CANADA
DEFI
Toronto, Canada
Nasdaq
DEFT
New York, USA
FRANKFURT STOCK EXCHANGE
R9B
Frankfurt, Germany
Company Shares
Share Price ($CAD)
$5.55
As of May 9th, 2025
52-WEEK LOW/HIGH ($CAD)
$0.72 – $5.55
As of March 31st, 2025
Basic Shares Outstanding
327.07M
As of December 31st, 2024
Options
29.9M
As of December 31st, 2024
Warrants
23.1M
As of December 31st, 2024
DSU
13.1M
As of December 31st, 2024
FULLY DILUTED SHARES OUTSTANDING
393.2M
As of December 31st, 2024
Market Capitalization ($CAD)
$1.5B
As of May 9th, 2025
Company Assets
CASH ($CAD)
15.4M
As of April 30th, 2025
Treasury ($CAD)
$46.5M
As of April 30th, 2025
ILIQUID ASSETS ($CAD)
$45.1M
Private investments, as of September 30th, 2024
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Contact Info
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Research Coverage
Firm
Analyst
Email
ZacksSCR
Michael Kim
mkim@zacks.com
Benchmark Company
Mark Palmer
mpalmer@benchmarkcompany.com
B Riley
Hal Goetsch
hgoetsch@brileyfin.com
Maxim Group
Matthew Galinko
mgalinko@maximgrp.com
Allen Klee, CFA
aklee@maximgrp.com
H.C. Wainwright
Kevin Dede
kdede@hcwresearch.com
Northland Capital Markets
Mike Grondahl
MGrondahl@northlandcapitalmarkets.com
Compass Point
Ed Engel
eengel@compasspointllc.com
Joe Flynn
jflynn@compasspointllc.com
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Newsroom
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Press Releases
May 20, 2025
DeFi Technologies to Enter RWA Space with Launch of Regulated, Bank-Issued Stablecoin in Partnership with Fire Labs; Kraken Joins as Strategic Integration Partner
May 15, 2025
Valour partners with GulfCap Investment Bank for Cross-Listing its Exchange Traded Products on the Nairobi Securities Exchange
May 14, 2025
DeFi Technologies Inc. Announces Q1 2025 Financial Results: Revenues of C$62.7 million (US$43.1 million), EBITDA of $44.8 million (US$31.2 million) and Net Income of C$43 million (US$30 million), and Notable Strategic Developments
May 12, 2025
DeFi Technologies Begins Trading on Nasdaq, Announces Shareholder Call to Discuss Q1 2025 Financial Results
May 7, 2025
Valour Launches Curve DAO (CRV) and Litecoin (LTC) ETPs on Spotlight Stock Market, Expands Nordic Presence and Reveals New Products in Roadmap to 100 ETPs
May 6, 2025
DeFi Technologies Provides Monthly Corporate Update: Valour Reports C$988 Million (US$715 Million) in AUM, and Monthly Net Inflows of C$10.8 Million (US$7.8 Million) in April 2025, Among Other Key Developments
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Documents
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Financial Reporting
Date
Quarter
Financials
MD&A
Consolidated Financial Statements
For the years ended December 31, 2024 and 2023
Q4
Amended and Restated Condensed Consolidated Interim Financial Statements
For the three and six months ended June 30, 2024 and 2023
Q2
Amended and Restated Condensed Consolidated Interim Financial Statements
For the three and nine months ended September 30, 2024 and 2023
Q3
Condensed Consolidated Interim Financial Statements
For 3 months ended March 31st, 2023 and 2024
Q1
Consolidated Financial Statements
For Years Ended December 31, 2023 and 2022
Q4
Condensed Consolidated Interim Financial Statements
Three and Nine Months Ended September 30, 2023 and 2022
Q3
Condensed Consolidated Interim Financial Statements
Three Months and Six Months Ended June 30, 2023 and 2022
Q2
Condensed Consolidated Interim Financial Statements
Three Months Ended March 31, 2023 and 2022
Q1
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Documents
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Corporate Governance
Date
Document
Corporate Disclosure Policy
Compensation Nomination and Governance Charter
Insider Trading Policy
Audit Committee Charter
Whistleblower Policy
Code of Business Conduct and Ethics
Compensation Recovery Policy
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Defi Technologies has elected to follow applicable Canadian Securities Laws and rules of the Cboe Canada Exchange in lieu of the requirements of:

a. Nasdaq Listing Rule 5605(e)(1) (Independent Director Oversight of Director Nominations). Our Compensation, Nomination and Governance Committee (the “Committee”) Charter (the “Charter”) provides that the Committee shall be composed of at least three directors as shall be designated by the Board from time-to-time, the majority of whom shall meet any independence requirements of Sections 1.4 and 1.5 of National Instrument 52-110 – Audit Committees of the Canadian Securities Administrators;

b. Nasdaq Listing Rule 5605(d)(2) (Compensation Committee Composition). Our Charter provides that the Committee shall be composed of at least three directors as shall be designated by the Board from time-to-time, the majority of whom shall meet any independence requirements of Sections 1.4 and 1.5 of National Instrument 52-110 – Audit Committees of the Canadian Securities Administrators;

c. Nasdaq Listing Rule 5620(c) (Quorum). Our bylaws provide that two persons present in person, each being a shareholder entitled to vote at the meeting or a duly appointed proxyholder for an absent shareholder entitled to vote at the meeting shall be a quorum at any meeting of the shareholders

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Core Businesses
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Diverse business lines for secure exposure
Valour Asset Management
$988M
CAD

AUM, as of April 30th, 2025

715M USD equivalent

DEFI Alpha
$132.1M
CAD

Cash & digital asset equivalents, 2024

$96.7M USD equivalent

DEFI Ventures
$53.7M
CAD

AUM, as of December 31st, 2024

$37.3M USD equivalent

Border
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CRYPTO RESEARCH
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Reflexivity Research

Leading research firm specializing in the creation of in-depth, high-quality research reports for the cryptocurrency industry.

Border
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OTC Desk & LSP
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Stillman Digital

Delivering reliable liquidity and industry-leading trade execution across digital markets.

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