DeFi Technologies Inc. Announces Q1 2025 Financial Results: Revenues of C$62.7 million (US$43.1 million), EBITDA of $44.8 million (US$31.2 million) and Net Income of C$43 million (US$30 million), and Notable Strategic Developments

PR Newswire

TORONTO, May 14, 2025

   -- Revenues, EBITDA and Net Income: For the three months ended March 31, 
      2025, DeFi Technologies reported Revenues of C$62.7 million (US$43.1 
      million), EBITDA of C$44.8 million (US$31.2 million), and Net Income of 
      C$43 million (US$30 million). These results highlight the Company's 
      strong operational performance and continued revenue growth. 
 
   -- Substantial Growth in AUM: Valour's Asset Management business reported 
      AUM of approximately C$921 million (US$640 million) as of March 31, 2025. 
      This followed an all-time high of C$1.4 billion (US$1.009 billion) 
      reached on January 31, 2025, prior to a significant market pullback. 
      Despite the volatility, Valour recorded positive net inflows of C$72.4 
      million (US$50.4 million) in Q1 2025. 
 
   -- ETF/Index and Institutional Recognition: In Q1 DeFi Technologies was 
      added to several prominent indices and institutional investment vehicles, 
      including the MVIS Global Digital Assets Equity Index, VanEck Digital 
      Transformation ETF, MSCI Canada Small Cap Index, Bitwise, Vanguard, and 
      Melanion Capital--reflecting increasing institutional recognition of the 
      Company's performance, strategic direction, and role in the evolving 
      digital asset ecosystem. 
 
   -- 2025 Outlook: Looking ahead, based on the current performance of its 
      asset management business and prevailing market conditions, the Company 
      forecasts annualized revenue of approximately C$285.6 million (US$201.07 
      million) for 2025. Continued growth in AUM may result in proportional 
      increases in revenue over time. 

TORONTO, May 14, 2025 /PRNewswire/ - DeFi Technologies Inc. (the "Company" or "DeFi Technologies") (Nasdaq: DEFT) (CBOE CA: DEFI) (GR: R9B), a financial technology company bridging the gap between traditional capital markets and decentralized finance ("DeFi"), announces its financial performance for the three months ended March 31, 2025.

Financial Highlights

   -- Revenue: Revenues of C$62.7 million (approximately US$43.1 million) for 
      the three months ended March 31, 2025, compared to C$4.9 million in Q1 
      2024.  Revenues increased due to increased staking income and management 
      fees due to higher AUM and an increase in digital asset prices. 
 
   -- Net Income: Net Income of C$43.0 million (approximately US$30.0 million) 
      in Q1 2025, up 711% from a loss of C$19.3 million in Q1 2024. The 
      positive net income reflects the critical scale achieved by the Company. 
 
   -- EBITDA: EBITDA of C$44.8 million (approximately US$31.2 million) for Q1 
      2025 compared to negative $2.7 million (US$1.9 million) in Q1 2024. The 
      positive EBITDA reflects the critical scale achieved by the Company. 
 
   -- Valour Staking/Lending & Management Fees: In Q1 2025, Valour generated 
      staking and lending income of C$14.0 million (US$10.0 million) and 
      management fees of C$3.6 million (US$2.6 million). 
 
   -- DeFi Alpha Performance: No one-off, large-scale trades were executed by 
      DeFi Alpha in Q1 2025. However, on May 5, 2025, the Company announced a 
      significant trade totaling returns of C$30.3 million (US$22 million), 
      based on the market price at the time of execution. This trade will be 
      reflected in the Company's Q2 2025 financial statements. For the twelve 
      months ended December 31, 2024, DeFi Alpha generated C$132.1 million 
      (US$96.7 million) in trading gains, with zero losses to date. 
 
   -- Stillman Digital: For the three months ended March 31, 2025, Stillman 
      Digital generated trading commissions of C$2.9 million (US$2.1 million) 
      in revenue. 
 
   -- Reflexivity Research: For the three months ended March 31, 2025, 
      Reflexivity Research generated research revenues of C$262,285 
      (US$180,976). 

Cash and Treasury Position

   -- Cash Balance: As of March 31, 2025, the Company's cash balance stood at 
      approximately C$20 million (US$13.9 million). 
 
   -- Treasury Holdings: As of March 31, 2025, the Company's holdings included 
      208.8 BTC, 121 ETH, 1,286,683 ADA, 181,616 DOT, 14,375 SOL, 491 UNI, 
      433,322 AVAX and 1,642,703 CORE tokens, totaling approximately C$43.4 
      million (US$30.2 million). 
 
   -- Venture Portfolio: Investments were valued at C$53.9 million (US$37.4 
      million) as of March 31, 2025. 

Total Value of cash, digital asset treasury, and Venture Portfolio: C$117.3 million (US$81.5 million) as of March 31, 2025.

For the latest update on cash and digital asset treasury holdings as of April 30, 2025, see here.

AUM & Net Inflows

   -- Valour's ETP business reported assets under management ("AUM") of 
      approximately C$921 million (US$640 million) as of March 31, 2025. This 
      followed an all-time high of C$1.4 billion (US$1.009 billion) reached on 
      January 31, 2025, prior to a significant market pullback. Despite the 
      volatility, Valour recorded positive net inflows of C$72.4 million 
      (US$50.4 million) in Q1 2025--C$48 million (US$33.5 million) in January, 
      C$16.4 million (US$11.4 million) in February, and C$8.0 million (US$5.5 
      million) in March. 

Q1 Strategic and Business Developments

   -- DeFi Technologies Added to MSCI Canada Small Cap Index: Effective 
      February 28, 2025, DeFi Technologies was included in the MSCI Canada 
      Small Cap Index, reflecting its strong market performance, growing 
      investor recognition, and alignment with institutional benchmarks. 
 
   -- DeFi Technologies Included in VanEck Digital Transformation ETF and MVIS 
      Global Index: The Company was added to the MVIS Global Digital Assets 
      Equity Index and VanEck's DAPP ETF, joining industry leaders like 
      Coinbase, MicroStrategy, and Galaxy Digital--highlighting growing 
      institutional recognition of DeFi Technologies' leadership in digital 
      asset innovation. 
 
   -- DeFi Technologies Appointed Chase Ergen to Board of Directors: A seasoned 
      entrepreneur with deep experience in satellite, 5G, and decentralized 
      finance, Chase Ergen brings strategic insight, institutional 
      relationships, and a strong track record in emerging technologies to 
      support DeFi Technologies' next phase of growth 
 
   -- DeFi Technologies Acquired Majority Stake in AI Asset Manager Neuronomics 
      AG: The Company increased its ownership to 52.5% in Neuronomics, a Swiss 
      firm specializing in AI-powered quantitative strategies and computational 
      neuroscience, enhancing DeFi Technologies' trading and asset management 
      capabilities while complementing its DeFi Alpha platform. 
 
   -- Valour Launched Four New ETPs on Börse Frankfurt: Valour expanded 
      its digital asset offerings with the launch of ETPs for Dogecoin, Aptos, 
      Sui, and Render, providing European investors with secure, cost-effective 
      exposure to high-growth blockchain ecosystems. 

Comment from the CEO, Olivier Roussy Newton:

"2024 was a breakout year for DeFi Technologies--one in which we established ourselves as one of the most profitable and operationally disciplined public companies in the digital asset sector.

We have carried that momentum into 2025 and just reported Q1 financials that reflect both strength and resilience in the face of market volatility:

   -- Revenue: C$62.7 million (US$43.1 million) 
 
   -- EBITDA: C$44.8 million (US$31.2 million) 
 
   -- Net Income: C$43 million (US$30 million) 

These results are more than numbers--they represent the scalability of our business model, the discipline of our execution, and our ability to generate substantial profit margins even in turbulent market conditions.

But perhaps most significantly, on May 12, 2025, DeFi Technologies officially began trading on Nasdaq--a milestone that marks the next chapter in our journey. Being listed on one of the world's most prestigious stock exchanges expands our visibility, enhances our credibility with institutional investors, and unlocks new avenues for growth. It is a powerful validation of the company we've built and a signal to the broader capital markets: DeFi Technologies is here to lead.

We are already seeing that leadership take shape. In Q1, we were added to multiple leading indices and ETFs, including the MSCI Canada Small Cap Index, MVIS Global Digital Assets Equity Index, and the VanEck Digital Transformation ETF $(DAPP.UK)$--joining a peer group that includes Coinbase, MicroStrategy, and Galaxy Digital.

Operationally, our asset management arm, Valour, reported C$921 million (US$640 million) in AUM as of March 31, 2025, with net inflows of C$72.4 million (US$50.4 million) during the quarter, even as digital asset markets pulled back from January highs. We continue to expand our product suite and work on global distribution, with a roadmap to reach 100 listed products by year-end.

Our institutional trading arm, Stillman Digital, generated C$2.9 million (US$2.1 million) in Q1 revenue and is scaling rapidly through new client acquisitions, expanded product offerings, and high-impact hires, including a new Head of Trading from B2C2.

Meanwhile, DeFi Alpha, our proprietary trading strategy, has maintained an unblemished track record. It delivered C$132.1 million (US$96.7 million) in gains in 2024 with zero losses to date and announced a C$30.3 million (US$22 million) trade based on the market price at the time of execution on May 5, 2025, which will be reflected in our Q2 results.

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