DFDV

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DeFi Development Corp.

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Key Metrics

Previous Close: $3.42
52-Week Range: $2.44 – $20.30
Market Cap: $116.86M
P/E (TTM): —
EPS (TTM): -9.18
Dividend Yield: —

Advanced Metrics

Price/Book: —
PEG Ratio: —
Return on Equity: -589.29%
Return on Assets: -51.84%
Gross Margin: 97.75%
Operating Margin: -689.20%
Profit Margin: 0.00%
Current Ratio: 1.21
Debt/Equity: —
Total Debt: $120.56M
Free Cash Flow: $-98.38M
Revenue Growth: 66.90%
Earnings Growth: —
Enterprise Value: $220.29M

DFDV Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$2.15M	$2.00M	$2.10M	$11.39M
Cost of Revenue	—	$0.00	$32.00K	$249.00K
Gross Profit	—	$2.00M	$2.07M	$11.14M
Research & Development	$426.83K	$792.13K	$655.00K	$1.14M
Selling, General & Admin	$3.44M	$4.62M	$4.11M	$16.57M
Operating Expenses	$3.87M	$5.41M	$5.07M	$18.76M
Operating Income	-$1.72M	-$3.40M	-$3.00M	-$7.63M
EBITDA	-$1.72M	-$3.40M	-$2.42M	-$63.80M
Pretax Income	-$1.26M	-$3.37M	-$2.73M	-$73.78M
Income Tax	—	—	$0.00	$9.00K
Net Income	-$1.26M	-$3.37M	-$2.73M	-$73.79M
Diluted EPS	-0.14	-0.46	-0.28	-4.00
Diluted Shares	9.13M	7.40M	9.77M	18.45M

DFDV Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$981.13K	$5.08M	$2.52M	$5.92M
Receivables	$38.29K	$86.14K	$195.00K	$52.00K
Current Assets	$1.03M	$5.29M	$3.27M	$121.93M
Total Assets	$1.34M	$6.68M	$4.38M	$307.41M
Current Liabilities	$204.90K	$675.10K	$593.00K	$80.79M
Long-Term Debt	—	—	—	$127.36M
Total Debt	$112.57K	$66.66K	$13.93K	$127.47M
Total Liabilities	$811.53K	$867.85K	$874.00K	$208.15M
Retained Earnings	-$3.27M	-$6.64M	-$9.37M	-$91.77M
Shareholders' Equity	$525.38K	$5.82M	$3.50M	$99.26M
Working Capital	$822.08K	$4.62M	$2.68M	$41.14M
Net Debt	—	—	—	$121.55M

DFDV Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	-$1.02M	-$1.57M	-$2.42M	-$17.97M
Capital Expenditure	—	-$29.05K	-$23.00K	-$217.32M
Free Cash Flow	-$1.02M	-$1.60M	-$2.44M	-$235.29M
Depreciation & Amortisation	$0.00	$912.00	$307.00K	$1.04M
Stock-Based Compensation	$529.93K	$1.49M	$413.00K	$1.67M
Investing Cash Flow	$0.00	-$89.05K	-$23.00K	-$221.54M
Financing Cash Flow	$297.52K	$5.75M	-$118.00K	$242.91M
Dividends Paid	$0.00	—	—	—
Share Repurchases	—	$0.00	-$5.00K	-$87.16M
Net Change in Cash	-$726.14K	$4.09M	-$2.56M	$3.40M

DFDV Income statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Revenue	$287.00K	$1.99M	$4.63M	$4.49M	$2.66M
Cost of Revenue	$7.00K	$28.00K	$88.00K	$127.00K	$103.00K
Gross Profit	$280.00K	$1.96M	$4.54M	$4.36M	$2.56M
Research & Development	$169.00K	$313.00K	$269.00K	$391.00K	$141.00K
Selling, General & Admin	$1.01M	$5.36M	$4.24M	$5.97M	$6.26M
Operating Expenses	$1.23M	$5.96M	$4.86M	$6.71M	$6.75M
Operating Income	-$947.00K	-$4.00M	-$324.00K	-$2.35M	-$4.19M
EBITDA	-$728.00K	$17.70M	$77.25M	-$158.02M	-$80.34M
Pretax Income	-$778.00K	$16.63M	$73.96M	-$163.59M	-$83.39M
Income Tax	$0.00	$1.20M	$17.93M	-$19.13M	$0.00
Net Income	-$778.00K	$15.43M	$56.03M	-$144.47M	-$83.39M
Diluted EPS	-0.08	0.84	1.83	—	-3.18
Diluted Shares	9.97M	19.33M	31.44M	—	26.26M

DFDV Balance Sheet statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Cash & Equivalents	$1.80M	$2.47M	$8.80M	$5.92M	$3.68M
Receivables	$631.44K	$1.09M	$52.00K	$52.00K	—
Current Assets	$3.05M	$5.58M	$174.41M	$121.93M	$127.77M
Total Assets	$4.16M	$107.23M	$479.95M	$307.41M	$229.72M
Current Liabilities	$1.06M	$5.14M	$85.55M	$80.79M	$91.74M
Long-Term Debt	—	$21.21M	$131.44M	$127.36M	$127.78M
Total Debt	$56.38K	$21.68M	$131.71M	$127.47M	$127.78M
Total Liabilities	$1.31M	$27.62M	$236.15M	$208.15M	$219.52M
Retained Earnings	-$10.15M	$5.28M	$61.31M	-$91.77M	-$175.29M
Shareholders' Equity	$2.85M	$79.61M	$243.80M	$99.26M	$10.19M
Working Capital	$2.00M	$436.00K	$88.86M	$41.14M	$36.02M
Net Debt	—	$19.17M	$122.91M	$121.55M	$124.10M

DFDV Cash Flow statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Operating Cash Flow	-$785.00K	-$1.27M	-$4.98M	-$10.93M	-$9.82M
Capital Expenditure	—	—	-$157.66M	—	-$3.72M
Free Cash Flow	-$785.00K	-$62.52M	-$162.64M	-$9.34M	-$13.54M
Depreciation & Amortisation	$50.00K	$291.00K	$352.00K	$352.00K	$351.00K
Stock-Based Compensation	$54.00K	$952.00K	$331.00K	$337.00K	$720.00K
Investing Cash Flow	$0.00	-$61.25M	-$175.06M	$14.77M	$16.19M
Financing Cash Flow	$70.00K	$63.19M	$186.38M	-$6.72M	-$8.61M
Share Repurchases	$0.00	—	—	-$11.52M	-$10.50M
Net Change in Cash	-$715.00K	$668.00K	$6.33M	-$2.88M	-$2.24M

Market Snapshot

About

DeFi Development Corp. is a special purpose acquisition company (SPAC) formed to identify and merge with a business in the decentralized finance sector. The company focuses on blockchain-based financial services and technologies that operate without traditional intermediaries. SPACs like DFDV raise capital through an initial public offering with the purpose of acquiring or merging with an existing private company within a specified timeframe. Upon completion of a business combination, the merged entity operates as a publicly-traded company.