secwatch.observer — SEC 8-K summary
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Issuer:     DeFi Development Corp. (DFDV)
CIK:        0001805526
Form:       8-K
Filed at:   2025-11-13T23:59:59+00:00
Accession:  0001213900-25-109627
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1805526/000121390025109627/0001213900-25-109627-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1805526/000121390025109627/ea0265415-8k_defi.htm
  HTML page:      https://secwatch.observer/filing/0001213900-25-109627

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