---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-25-109627"
form_type: "8-K"
ticker: "DFDV"
cik: "0001805526"
company_name: "DeFi Development Corp."
filed_at: "2025-11-13T23:59:59+00:00"
generated_at: "2026-05-16T20:30:10.397437+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001213900-25-109627
- form_type: 8-K
- ticker: DFDV
- cik: 0001805526
- company_name: DeFi Development Corp.
- filed_at: 2025-11-13T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1805526/000121390025109627/0001213900-25-109627-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1805526/000121390025109627/ea0265415-8k_defi.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-25-109627
- JSON: https://secwatch.observer/filing/0001213900-25-109627.json
- Plain text: https://secwatch.observer/filing/0001213900-25-109627.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.