DXYZ
DXYZ
Destiny Tech100 Inc.Income Statement
| Period | Revenue | Operating Expense | Net Income | Net Profit Margin | Earnings Per Share | EBITDA |
|---|---|---|---|---|---|---|
| Q2-2025 | $-4.33M ▼ | $0 ▲ | $5.25M ▼ | -121.15% ▼ | $0.48 ▼ | $5.25M ▼ |
| Q4-2024 | $1.74M ▲ | $-13.17M ▼ | $14.05M ▲ | 809.16% ▼ | $1.29 ▲ | $14.05M ▲ |
| Q2-2024 | $167.33K ▼ | $4.19M ▲ | $3.38M ▲ | 2.02K% ▲ | $0.31 ▲ | $3.38M ▲ |
| Q4-2023 | $278.45K ▲ | $-5.3 ▲ | $-1.47M ▼ | -529.58% ▼ | $-0.14 ▼ | $-1.47M ▲ |
| Q2-2023 | $82.01K | $-32.51 | $0 | 0% | $0 | $-2.67M |
What's going well?
The company has no debt or tax burden, and it still reported a profit despite negative revenue. Share count is stable, so there's no dilution.
What's concerning?
Revenue turned negative, gross profit vanished, and net income dropped by more than half. The business model looks unstable and the numbers are highly unusual.
Balance Statement
| Period | Cash & Short-term | Total Assets | Total Liabilities | Total Equity |
|---|---|---|---|---|
| Q2-2025 | $1.76M ▲ | $77.6M ▲ | $2.3M ▲ | $75.3M ▲ |
| Q4-2024 | $0 | $71.41M ▲ | $1.36M ▲ | $70.05M ▲ |
| Q2-2024 | $0 ▼ | $56.75M ▲ | $754.86K ▼ | $56M ▲ |
| Q4-2023 | $4.83M ▲ | $53.46M ▼ | $838.43K ▲ | $52.62M ▼ |
| Q2-2023 | $0 | $56.08M | $0 | $54.1M |
What's financially strong about this company?
DXYZ has zero debt, lots of investments, and more than $75 million in equity. Their assets are high quality and liquid, with no risky goodwill or inventory.
What are the financial risks or weaknesses?
The company has negative retained earnings, meaning it has lost money over its history. There is very little cash on hand, and almost all assets are tied up in investments.
Cash Flow Statement
| Period | Net Income | Cash From Operations | Cash From Investing | Cash From Financing | Net Change | Free Cash Flow |
|---|---|---|---|---|---|---|
| Q2-2025 | $5.25M ▼ | $-1.52M ▼ | $1.82M ▲ | $-293.56K ▲ | $0 | $-1.52M ▼ |
| Q4-2024 | $14.05M ▲ | $-1.22M ▲ | $1.57M ▼ | $-344.99K ▼ | $0 | $-1.22M ▲ |
| Q4-2023 | $-1.47M ▲ | $-2.33M ▼ | $2.62M ▲ | $-291.51K ▼ | $0 ▲ | $-2.33M ▼ |
| Q2-2023 | $-2.67M ▲ | $-942.71K ▲ | $-11.08M ▼ | $0 | $-12.03M ▼ | $-942.71K ▲ |
| Q4-2022 | $-9.81M | $-3.42M | $2.91M | $0 | $-509.23K | $-3.42M |
What's strong about this company's cash flow?
Receivables were collected quickly this quarter, providing a short-term cash boost. No new debt or dilution occurred.
What are the cash flow concerns?
Operations are burning over $1.5M in cash per quarter, and the company has no cash left. The business cannot sustain itself without new funding.
5-Year Trend Analysis
A comprehensive look at Destiny Tech100 Inc.'s financial evolution and strategic trajectory over the past five years.
DXYZ combines a unique market position with a now much stronger balance sheet: it has eliminated debt, grown shareholder equity, and built a differentiated portfolio of private technology companies that retail investors would struggle to access on their own. The business is asset-light, does not require heavy capital expenditure, and can deliver strong reported profits when portfolio valuations move favorably. Its first-mover status and closed-end structure provide a meaningful, if specialized, platform advantage in a growing area of interest.
Financial statements show extreme volatility, with revenue, earnings, and cash flows driven more by valuation swings and one-off events than by a stable earnings engine, which makes future results hard to predict. Liquidity is thin, with very little cash on hand and heavy reliance on illiquid private holdings for value and potential funding. The company still carries accumulated losses, depends heavily on the health of the tech and venture markets, and faces the possibility of increased competition, regulatory scrutiny, and persistent gaps between its trading price and the value of its underlying assets.
Looking ahead, DXYZ’s prospects are closely tied to the performance and eventual exit paths of its private tech holdings, as well as management’s ability to continue sourcing high-quality new investments. Financial results are likely to remain lumpy and sensitive to market conditions rather than smoothing into a predictable earnings pattern. If the underlying portfolio of companies delivers strong long-term outcomes and the fund maintains its access and brand, DXYZ could continue to grow in relevance, but investors should expect substantial uncertainty and cyclicality in reported financial metrics along the way.
About Destiny Tech100 Inc.
http://destiny.xyz/tech100Destiny Tech100, Inc. operates as a non-diversified, closed-end management investment company. The company was founded on November 18, 2020 and is headquartered in Austin, TX.
Income Statement
| Period | Revenue | Operating Expense | Net Income | Net Profit Margin | Earnings Per Share | EBITDA |
|---|---|---|---|---|---|---|
| Q2-2025 | $-4.33M ▼ | $0 ▲ | $5.25M ▼ | -121.15% ▼ | $0.48 ▼ | $5.25M ▼ |
| Q4-2024 | $1.74M ▲ | $-13.17M ▼ | $14.05M ▲ | 809.16% ▼ | $1.29 ▲ | $14.05M ▲ |
| Q2-2024 | $167.33K ▼ | $4.19M ▲ | $3.38M ▲ | 2.02K% ▲ | $0.31 ▲ | $3.38M ▲ |
| Q4-2023 | $278.45K ▲ | $-5.3 ▲ | $-1.47M ▼ | -529.58% ▼ | $-0.14 ▼ | $-1.47M ▲ |
| Q2-2023 | $82.01K | $-32.51 | $0 | 0% | $0 | $-2.67M |
What's going well?
The company has no debt or tax burden, and it still reported a profit despite negative revenue. Share count is stable, so there's no dilution.
What's concerning?
Revenue turned negative, gross profit vanished, and net income dropped by more than half. The business model looks unstable and the numbers are highly unusual.
Balance Statement
| Period | Cash & Short-term | Total Assets | Total Liabilities | Total Equity |
|---|---|---|---|---|
| Q2-2025 | $1.76M ▲ | $77.6M ▲ | $2.3M ▲ | $75.3M ▲ |
| Q4-2024 | $0 | $71.41M ▲ | $1.36M ▲ | $70.05M ▲ |
| Q2-2024 | $0 ▼ | $56.75M ▲ | $754.86K ▼ | $56M ▲ |
| Q4-2023 | $4.83M ▲ | $53.46M ▼ | $838.43K ▲ | $52.62M ▼ |
| Q2-2023 | $0 | $56.08M | $0 | $54.1M |
What's financially strong about this company?
DXYZ has zero debt, lots of investments, and more than $75 million in equity. Their assets are high quality and liquid, with no risky goodwill or inventory.
What are the financial risks or weaknesses?
The company has negative retained earnings, meaning it has lost money over its history. There is very little cash on hand, and almost all assets are tied up in investments.
Cash Flow Statement
| Period | Net Income | Cash From Operations | Cash From Investing | Cash From Financing | Net Change | Free Cash Flow |
|---|---|---|---|---|---|---|
| Q2-2025 | $5.25M ▼ | $-1.52M ▼ | $1.82M ▲ | $-293.56K ▲ | $0 | $-1.52M ▼ |
| Q4-2024 | $14.05M ▲ | $-1.22M ▲ | $1.57M ▼ | $-344.99K ▼ | $0 | $-1.22M ▲ |
| Q4-2023 | $-1.47M ▲ | $-2.33M ▼ | $2.62M ▲ | $-291.51K ▼ | $0 ▲ | $-2.33M ▼ |
| Q2-2023 | $-2.67M ▲ | $-942.71K ▲ | $-11.08M ▼ | $0 | $-12.03M ▼ | $-942.71K ▲ |
| Q4-2022 | $-9.81M | $-3.42M | $2.91M | $0 | $-509.23K | $-3.42M |
What's strong about this company's cash flow?
Receivables were collected quickly this quarter, providing a short-term cash boost. No new debt or dilution occurred.
What are the cash flow concerns?
Operations are burning over $1.5M in cash per quarter, and the company has no cash left. The business cannot sustain itself without new funding.
5-Year Trend Analysis
A comprehensive look at Destiny Tech100 Inc.'s financial evolution and strategic trajectory over the past five years.
DXYZ combines a unique market position with a now much stronger balance sheet: it has eliminated debt, grown shareholder equity, and built a differentiated portfolio of private technology companies that retail investors would struggle to access on their own. The business is asset-light, does not require heavy capital expenditure, and can deliver strong reported profits when portfolio valuations move favorably. Its first-mover status and closed-end structure provide a meaningful, if specialized, platform advantage in a growing area of interest.
Financial statements show extreme volatility, with revenue, earnings, and cash flows driven more by valuation swings and one-off events than by a stable earnings engine, which makes future results hard to predict. Liquidity is thin, with very little cash on hand and heavy reliance on illiquid private holdings for value and potential funding. The company still carries accumulated losses, depends heavily on the health of the tech and venture markets, and faces the possibility of increased competition, regulatory scrutiny, and persistent gaps between its trading price and the value of its underlying assets.
Looking ahead, DXYZ’s prospects are closely tied to the performance and eventual exit paths of its private tech holdings, as well as management’s ability to continue sourcing high-quality new investments. Financial results are likely to remain lumpy and sensitive to market conditions rather than smoothing into a predictable earnings pattern. If the underlying portfolio of companies delivers strong long-term outcomes and the fund maintains its access and brand, DXYZ could continue to grow in relevance, but investors should expect substantial uncertainty and cyclicality in reported financial metrics along the way.

CEO
Sohail Prasad
Compensation Summary
(Year )
ETFs Holding This Stock
Summary
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Ratings Snapshot
Rating : B-
Price Target
Institutional Ownership
JANE STREET GROUP, LLC
Shares:377.55K
Value:$10.73M
MORGAN STANLEY
Shares:86.64K
Value:$2.46M
LPL FINANCIAL LLC
Shares:71.99K
Value:$2.05M
Summary
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