earnings
confidence high
sentiment negative
materiality 0.75
DeFi Development Corp reports 442% revenue growth for FY 2025; cuts SPS guidance to 0.085
DeFi Development Corp.
- FY 2025 net loss of $73.8M, mainly from unrealized digital asset losses; DAT segment revenue $9.2M.
- Revised June 2026 SPS guidance to 0.085 from 0.165, reaffirmed; long-term 1.0 SPS by Dec 2028 maintained.
- Current SPS 0.0754, up 8% since Nov 2025; total SOL holdings ~2.22M; shares outstanding ~29.5M.
- Q4 Annualized Organic Yield 8.3%, below 10% target, due to Oct 10 liquidation; expect ~10% going forward.
- FY 2025 revenue +442%; equity return +600%; closed $164M convertible debt, $149M equity PIPEs; Apyx investment; ELOC raised ~$60M.
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