secwatch.observer — SEC 8-K summary
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Issuer:     DeFi Development Corp. (DFDV)
CIK:        0001805526
Form:       8-K
Filed at:   2026-03-30T23:59:59+00:00
Accession:  0001805526-26-000005
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

DeFi Development Corp reports 442% revenue growth for FY 2025; cuts SPS guidance to 0.085
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1805526/000180552626000005/0001805526-26-000005-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1805526/000180552626000005/dfdv-20260330.htm
  HTML page:      https://secwatch.observer/filing/0001805526-26-000005

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