DeFi Dev Corp Q3 net income $56M, adj EPS $1.88, SPS 0.0700 (+13% Q/Q)

DeFi Development Corp.

2025-Q3 EPS reported $3.63 revenue$6,898,000

Diluted EPS $1.83 ($1.88 adj) vs loss of ($0.05) a year ago; revenue $4.6M (+648% YoY).
Average organic yield 11.4% (above 10% target); SPS grew 13% Q/Q to 0.0700.
Treasury holds 2.2M SOL & SOL equivalents; mNAV compressed to 0.8x from 1.4x.
Maintains SPS guidance: 0.165 by June 2026, 1.000 by Dec 2028; closed $125M PIPE in Aug.
Outstanding debt principal ~$140.3M as of Sep 30, 2025; shares outstanding 31.4M.

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