Janover Q1 2024 revenue $411K, net loss $964K; highlights 17% sequential growth, 18% recurring revenue

DeFi Development Corp.

2024-Q1 EPS reported -$0.09 revenue$411,137

Revenue $411K in Q1 2024, down 12% YoY from $467K; net loss widened to $964K from $220K.
Sequential revenue grew 17% vs Q4 2023; SBA revenue up 16% sequentially.
Revenue per transaction increased 10% YoY; 18% of revenue from recurring subscriptions.
Adjusted EBITDA loss $837K vs $175K loss in prior year.
Cash $3.9M, no debt; focus on larger loans and recurring revenue via Groundbreaker and Janover Insurance.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

DeFi Development Corp. reported the first quarter ended March 31, 2024 results: revenue approximately $411,000, net income approximately $964,000, EPS $0.09 basic and diluted loss per share.

Period: the first quarter ended March 31, 2024
Revenue: approximately $411,000
Net income: approximately $964,000
EPS: $0.09 basic and diluted loss per share
Result: reported results

Exact text from the filing

our new business lines combined with our current offerings will take us in the years ahead.” Financial Results Revenue for the quarter ended March 31, 2024, was approximately $411,000 compared to approximately $467,000 for the quarter ended March 31, 2023. This decrease was primarily due to a reduction in closed loans compared to the same period in 2023.

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Source: SEC EDGAR

accession 0001575872-24-000533

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