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DFDV

DeFi Development Corp.

DFDV

DeFi Development Corp. • NASDAQ
$7.60 ▲ 1.60% (+0.12)
Market Cap $159.55 M
52w High $53.88
52w Low $0.53
Dividend Yield 0%
P/E 2.12
Volume 544.26K
Outstanding Shares 20.99M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $4.625M ▲ $-67.549M ▼ $56.026M ▲ 1.211K% ▲ $2.41 ▲ $77.246M ▲
Q2-2025 $1.986M ▲ $-15.232M ▼ $15.432M ▲ 777.039% ▲ $1.09 ▲ $17.7M ▲
Q1-2025 $287.172K ▼ $1.163M ▼ $-777.599K ▼ -270.778% ▼ $-0.079 ▼ $-833.285K ▼
Q4-2024 $628.881K ▲ $1.301M ▲ $-486.073K ▼ -77.292% ▼ $-0.049 ▼ $-545.459K ▼
Q3-2024 $618.669K $1.065M $-471.255K -76.172% $-0.048 $-403.486K

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $8.801M ▲ $479.954M ▲ $236.15M ▲ $243.804M ▲
Q2-2025 $3.065M ▲ $107.23M ▲ $27.617M ▲ $79.613M ▲
Q1-2025 $2.227M ▼ $4.158M ▼ $1.31M ▲ $2.848M ▼
Q4-2024 $2.857M ▲ $4.376M ▼ $873.844K ▲ $3.502M ▼
Q3-2024 $2.768M $4.485M $528.965K $3.956M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $56.026M ▲ $-4.984M ▼ $-175.06M ▼ $186.375M ▲ $6.331M ▲ $-4.984M ▼
Q2-2025 $15.432M ▲ $-1.271M ▼ $-61.251M ▼ $63.191M ▲ $668.425K ▲ $-1.273M ▼
Q1-2025 $-777.599K ▼ $-785.639K ▼ $0 ▲ $69.737K ▲ $-715.902K ▼ $-785.639K ▼
Q4-2024 $-486.073K ▼ $-179.288K ▲ $-6.633K ▼ $-65K ▼ $-250.921K ▲ $-185.921K ▲
Q3-2024 $-471.255K $-411.991K $-2.5K $-53.771K $-468.262K $-411.99K

Five-Year Company Overview

Income Statement

Income Statement Public data for revenue and operating profits is essentially blank, which likely reflects either reporting gaps or that the business is still very early in scaling its current strategy. What we do see is a pattern of small net losses in recent years after a brief period of modest profitability. In plain terms: the company appears to be in “build mode,” spending ahead of clearly visible revenue, especially as it pivots from a traditional SaaS real estate platform into a crypto‑focused treasury model. This means the story today is far more about future potential than about established earnings power.

Balance Sheet

Balance Sheet The reported balance sheet looks extremely light, with only a small base of assets and equity and no visible debt. That suggests a very lean financial structure and limited hard resources, but also a lack of leverage risk. The absence of detail on things like crypto holdings in the core data is important: the company’s strategy clearly depends on Solana assets and validator infrastructure, but those do not show up in this simplified snapshot. Overall, it looks like a small, lightly capitalized company whose financial strength will depend heavily on how well it grows its digital asset base and underlying businesses over time.

Cash Flow

Cash Flow Cash‑flow data is essentially flat in the public feed, which makes it hard to judge how much cash the business is actually generating or burning. Given the strategy—building platforms, running validators, and expanding a crypto‑treasury franchise—it is reasonable to assume cash is being used to grow rather than being returned to shareholders. The key unknowns are: how much cash runway is available, how dependent the company is on capital markets, and how quickly any staking and SaaS revenues can offset development and operating costs.

Competitive Edge

Competitive Edge DFDV’s competitive angle rests on being an early, specialized bridge between traditional finance and Solana‑based decentralized finance. It combines an AI‑driven commercial real‑estate finance platform with a highly focused Solana treasury and staking strategy. Its first‑mover status as a public Solana‑centric treasury vehicle, its own validator infrastructure, and its “Treasury Accelerator” partnership program create a differentiated niche. However, this position is also narrow and exposed: competition from future ETFs, other crypto treasuries, and fast‑moving DeFi projects, as well as regulatory shifts, could quickly change the landscape. The moat today is more about innovation speed and ecosystem relationships than about entrenched, defensible market share.

Innovation and R&D

Innovation and R&D Innovation is the core of the DFDV story. On one side, the company has built AI tools that match commercial real‑estate borrowers with lenders, automating and simplifying a traditionally slow, opaque process. On the other side, it is pushing into crypto with its own Solana validators, a liquid staking token (dfdvSOL), tokenized equity, and structured programs to roll out Solana treasury vehicles globally. This is a highly experimental, R&D‑heavy model: new products, partnerships, and DeFi integrations are central to the thesis. The upside is meaningful if these flywheels catch; the downside is that many of these ideas are unproven, technically complex, and tightly tied to the health of the Solana ecosystem.

Summary

Overall, DFDV is less a mature earnings story and more a high‑innovation platform trying to define a new category at the intersection of AI‑driven real‑estate finance and Solana‑based digital asset management. Traditional financials show a very small, lightly capitalized company with limited visible revenue and ongoing losses, which is typical of early‑stage, pivoting businesses. The strategic attractions are its first‑mover role in Solana treasuries, its own validator infrastructure, and its blend of real‑estate SaaS with crypto infrastructure. The main risks are clear: dependence on a single blockchain ecosystem, regulatory uncertainty, execution risk in scaling the “Treasury Accelerator” model, and the lack of a long track record of stable cash generation. The story will likely be judged over time on its ability to grow sustainable on‑chain yields, expand partnerships, and turn its innovation pipeline into durable, recurring economic value.

NEWS

November 26, 2025 · 8:30 AM UTC

DeFi Development Corp. Announces Open-Market Stock Purchases and Internal Equity Transfers by Executive Team

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November 19, 2025 · 8:30 AM UTC

DeFi Development Corp. Files Form 10-Q, Reports Unrealized Gain of $74M

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November 18, 2025 · 8:30 AM UTC

DeFi Development Corp. Signs LOI with Loopscale to Boost Stablecoin & SOL Yield and Participate in Points Program

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November 12, 2025 · 4:05 PM UTC

DeFi Development Corp. Reports Strong Third Quarter 2025 Earnings

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November 12, 2025 · 8:30 AM UTC

DeFi Development Corp. Announces Proposed Preferred Stock Offering

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