earnings
confidence high
sentiment neutral
materiality 0.75
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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