DeFi Technologies (DEFT)
Market Price (9/24/2026): $0.5181 | Market Cap: $201.0 MilSector: Financials | Industry: Diversified Capital Markets
DeFi Technologies (DEFT)
Market Price (9/24/2026): $0.5181Market Cap: $201.0 MilSector: FinancialsIndustry: Diversified Capital Markets
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 11%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 7.3% Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -59% Megatrend and thematic driversMegatrends include Crypto & Blockchain, and Digital & Alternative Assets. Themes include Cryptocurrency Exchanges, Blockchain Enterprise Solutions, Show more. | Weak multi-year price returns2Y Excs Rtn is -124%, 3Y Excs Rtn is -160% | Penny stockMkt Price is 0.5 Very low revenueRev LTMTotal Revenue or Sales, Last Twelve Months is -21 Mil Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -111%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -22%, Rev Chg QQuarterly Revenue Change % is -132% High stock price volatilityVol 12M is 105% Key risksDEFT key risks include [1] an active securities fraud lawsuit alleging strategic delays and a likely revenue guidance miss, Show more. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 11%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 7.3% |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -59% |
| Megatrend and thematic driversMegatrends include Crypto & Blockchain, and Digital & Alternative Assets. Themes include Cryptocurrency Exchanges, Blockchain Enterprise Solutions, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -124%, 3Y Excs Rtn is -160% |
| Penny stockMkt Price is 0.5 |
| Very low revenueRev LTMTotal Revenue or Sales, Last Twelve Months is -21 Mil |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -111%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -22%, Rev Chg QQuarterly Revenue Change % is -132% |
| High stock price volatilityVol 12M is 105% |
| Key risksDEFT key risks include [1] an active securities fraud lawsuit alleging strategic delays and a likely revenue guidance miss, Show more. |
Qualitative Assessment
AI Analysis | Feedback
Updated on 9/23/2026
DeFi Technologies (DEFT) stock has lost about 20% since 5/31/2026 because of the following key factors:
1. Significant Revenue Miss and Operating Loss in Fiscal Q2 2026.
DeFi Technologies reported revenue of $7.8 million for the fiscal Q2 2026 (ended June 30, 2026), significantly missing analyst estimates by 35% and representing a 42% decrease from fiscal Q2 2025 revenue of $13.1 million. The company also posted an operating loss of $2.3 million for the quarter, further deteriorating from a smaller loss in the prior year.
2. Decline in Valour's Assets Under Management (AUM).
Valour, a key subsidiary for DeFi Technologies, experienced a substantial decrease in its average Assets Under Management (AUM), falling to $471.5 million in fiscal Q2 2026 from $760.2 million in fiscal Q2 2025. This reduction in AUM directly impacts management fees and overall revenue generation.
Show more
DeFi Technologies (DEFT) stock has lost about 20% since 5/31/2026 because of the following key factors:
1. Significant Revenue Miss and Operating Loss in Fiscal Q2 2026.
DeFi Technologies reported revenue of $7.8 million for the fiscal Q2 2026 (ended June 30, 2026), significantly missing analyst estimates by 35% and representing a 42% decrease from fiscal Q2 2025 revenue of $13.1 million. The company also posted an operating loss of $2.3 million for the quarter, further deteriorating from a smaller loss in the prior year.
2. Decline in Valour's Assets Under Management (AUM).
Valour, a key subsidiary for DeFi Technologies, experienced a substantial decrease in its average Assets Under Management (AUM), falling to $471.5 million in fiscal Q2 2026 from $760.2 million in fiscal Q2 2025. This reduction in AUM directly impacts management fees and overall revenue generation.
Show more
Updated on 9/23/2026
DeFi Technologies (DEFT) stock has lost about 20% since 5/31/2026 because of the following key factors:
1. Significant Revenue Miss and Operating Loss in Fiscal Q2 2026.
DeFi Technologies reported revenue of $7.8 million for the fiscal Q2 2026 (ended June 30, 2026), significantly missing analyst estimates by 35% and representing a 42% decrease from fiscal Q2 2025 revenue of $13.1 million. The company also posted an operating loss of $2.3 million for the quarter, further deteriorating from a smaller loss in the prior year.
2. Decline in Valour's Assets Under Management (AUM).
Valour, a key subsidiary for DeFi Technologies, experienced a substantial decrease in its average Assets Under Management (AUM), falling to $471.5 million in fiscal Q2 2026 from $760.2 million in fiscal Q2 2025. This reduction in AUM directly impacts management fees and overall revenue generation.
3. Nasdaq Minimum Bid Price Non-Compliance and Delisting Risk.
The company faced ongoing non-compliance with Nasdaq's minimum bid price requirement of $1.00, having initially received a notice on March 5, 2026, due to its shares trading below this threshold for 30 consecutive business days. Although granted an additional 180-day compliance period, the persistent low stock price creates uncertainty and a potential delisting risk for investors.
4. Challenging Digital Asset Market Conditions.
Broader macroeconomic factors, particularly the volatile and challenging conditions within digital asset markets during fiscal Q2 2026, negatively impacted DeFi Technologies' financial results. This was highlighted by the CEO and led to lower fair value gains on digital assets and equity investments, contributing to reduced revenues and profitability.
5. Forecast for Declining Future Earnings.
Analyst forecasts predict a significant decline in earnings for DeFi Technologies, with an average annual decrease of 43% expected for the foreseeable future. This negative outlook on future profitability acts as a major risk factor, contributing to investor apprehension.
Show less
DeFi Technologies (DEFT) stock has lost about 20% since 5/31/2026 because of the following key factors:
1. Significant Revenue Miss and Operating Loss in Fiscal Q2 2026.
DeFi Technologies reported revenue of $7.8 million for the fiscal Q2 2026 (ended June 30, 2026), significantly missing analyst estimates by 35% and representing a 42% decrease from fiscal Q2 2025 revenue of $13.1 million. The company also posted an operating loss of $2.3 million for the quarter, further deteriorating from a smaller loss in the prior year.
2. Decline in Valour's Assets Under Management (AUM).
Valour, a key subsidiary for DeFi Technologies, experienced a substantial decrease in its average Assets Under Management (AUM), falling to $471.5 million in fiscal Q2 2026 from $760.2 million in fiscal Q2 2025. This reduction in AUM directly impacts management fees and overall revenue generation.
3. Nasdaq Minimum Bid Price Non-Compliance and Delisting Risk.
The company faced ongoing non-compliance with Nasdaq's minimum bid price requirement of $1.00, having initially received a notice on March 5, 2026, due to its shares trading below this threshold for 30 consecutive business days. Although granted an additional 180-day compliance period, the persistent low stock price creates uncertainty and a potential delisting risk for investors.
4. Challenging Digital Asset Market Conditions.
Broader macroeconomic factors, particularly the volatile and challenging conditions within digital asset markets during fiscal Q2 2026, negatively impacted DeFi Technologies' financial results. This was highlighted by the CEO and led to lower fair value gains on digital assets and equity investments, contributing to reduced revenues and profitability.
5. Forecast for Declining Future Earnings.
Analyst forecasts predict a significant decline in earnings for DeFi Technologies, with an average annual decrease of 43% expected for the foreseeable future. This negative outlook on future profitability acts as a major risk factor, contributing to investor apprehension.
Show less
Holding a concentrated position? Know your true downside before the momentum shifts.
Protect Your Wealth →
Stock Movement Drivers
Fundamental Drivers
The -17.8% change in DEFT stock from 5/31/2026 to 9/23/2026 was primarily driven by a -548.4% change in the company's Net Income Margin (%).| (LTM values as of) | 5312026 | 9232026 | Change |
|---|---|---|---|
| Stock Price ($) | 0.65 | 0.53 | -17.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 151 | -21 | -114.1% |
| Net Income Margin (%) | 24.7% | -110.9% | -548.4% |
| P/E Multiple | 6.7 | 8.8 | 30.6% |
| Shares Outstanding (Mil) | 387 | 388 | -0.4% |
| Cumulative Contribution | -17.8% |
Market Drivers
5/31/2026 to 9/23/2026| Return | Correlation | |
|---|---|---|
| DEFT | -17.8% | |
| Market (SPY) | 1.8% | 47.1% |
| Sector (XLF) | 6.1% | 18.4% |
Fundamental Drivers
The -21.3% change in DEFT stock from 2/28/2026 to 9/23/2026 was primarily driven by a -2759.8% change in the company's Net Income Margin (%).| (LTM values as of) | 2282026 | 9232026 | Change |
|---|---|---|---|
| Stock Price ($) | 0.68 | 0.53 | -21.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 195 | -21 | -110.9% |
| Net Income Margin (%) | 4.2% | -110.9% | -2759.8% |
| P/E Multiple | 28.8 | 8.8 | -69.5% |
| Shares Outstanding (Mil) | 344 | 388 | -11.4% |
| Cumulative Contribution | -21.3% |
Market Drivers
2/28/2026 to 9/23/2026| Return | Correlation | |
|---|---|---|
| DEFT | -21.3% | |
| Market (SPY) | 12.5% | 51.6% |
| Sector (XLF) | 7.0% | 28.3% |
Fundamental Drivers
The -74.3% change in DEFT stock from 8/31/2025 to 9/23/2026 was primarily driven by a -1235.5% change in the company's Net Income Margin (%).| (LTM values as of) | 8312025 | 9232026 | Change |
|---|---|---|---|
| Stock Price ($) | 2.08 | 0.53 | -74.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 200 | -21 | -110.6% |
| Net Income Margin (%) | 9.8% | -110.9% | -1235.5% |
| P/E Multiple | 35.2 | 8.8 | -75.0% |
| Shares Outstanding (Mil) | 330 | 388 | -14.9% |
| Cumulative Contribution | -74.3% |
Market Drivers
8/31/2025 to 9/23/2026| Return | Correlation | |
|---|---|---|
| DEFT | -74.3% | |
| Market (SPY) | 20.3% | 49.8% |
| Sector (XLF) | 2.6% | 31.3% |
Fundamental Drivers
nullnull
Market Drivers
8/31/2023 to 9/23/2026| Return | Correlation | |
|---|---|---|
| DEFT | ||
| Market (SPY) | 77.0% | 47.8% |
| Sector (XLF) | 66.3% | 32.0% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| DEFT Return | - | - | - | - | -82% | -23% | -86% |
| Peers Return | 39% | -85% | 360% | 3% | 21% | 64% | 100% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 13% | 107% |
Monthly Win Rates [3] | |||||||
| DEFT Win Rate | - | - | - | - | 12% | 22% | |
| Peers Win Rate | 40% | 33% | 75% | 45% | 63% | 51% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 56% | |
Max Drawdowns [4] | |||||||
| DEFT Max Drawdown | - | - | - | - | - | -65% | |
| Peers Max Drawdown | -71% | -88% | -54% | -58% | -56% | -41% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: COIN, MARA, RIOT, CLSK, HUT.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 9/23/2026 (YTD)
How Low Can It Go
DEFT has limited trading history. Below is the Financials sector ETF (XLF) in its place.
| Event | XLF | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -15.5% | -18.8% |
| % Gain to Breakeven | 18.4% | 23.1% |
| Time to Breakeven | 80 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -10.7% | -9.5% |
| % Gain to Breakeven | 12.0% | 10.5% |
| Time to Breakeven | 26 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -16.1% | -6.7% |
| % Gain to Breakeven | 19.1% | 7.1% |
| Time to Breakeven | 270 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -22.3% | -24.5% |
| % Gain to Breakeven | 28.6% | 32.4% |
| Time to Breakeven | 467 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -42.8% | -33.7% |
| % Gain to Breakeven | 74.8% | 50.9% |
| Time to Breakeven | 289 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -19.7% | -19.2% |
| % Gain to Breakeven | 24.5% | 23.8% |
| Time to Breakeven | 123 days | 105 days |
In The Past
State Street Financial Select Sector SPDR ETF's stock fell -15.5% during the 2025 US Tariff Shock. Such a loss loss requires a 18.4% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
DEFT has limited trading history. Below is the Financials sector ETF (XLF) in its place.
| Event | XLF | S&P 500 |
|---|---|---|
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -22.3% | -24.5% |
| % Gain to Breakeven | 28.6% | 32.4% |
| Time to Breakeven | 467 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -42.8% | -33.7% |
| % Gain to Breakeven | 74.8% | 50.9% |
| Time to Breakeven | 289 days | 140 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -21.4% | -12.2% |
| % Gain to Breakeven | 27.3% | 13.9% |
| Time to Breakeven | 272 days | 62 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -26.1% | -17.9% |
| % Gain to Breakeven | 35.3% | 21.8% |
| Time to Breakeven | 162 days | 123 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -78.3% | -53.4% |
| % Gain to Breakeven | 359.8% | 114.4% |
| Time to Breakeven | 2329 days | 1085 days |
In The Past
State Street Financial Select Sector SPDR ETF's stock fell -15.5% during the 2025 US Tariff Shock. Such a loss loss requires a 18.4% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About DeFi Technologies (DEFT)
N/A
AI Analysis | Feedback
- The BlackRock or Vanguard for decentralized finance (DeFi) investments.
- A Grayscale Investments for a broader range of decentralized finance (DeFi) assets.
AI Analysis | Feedback
- Exchange Traded Products (ETPs): Offers institutional-grade, regulated investment products providing exposure to digital assets like Bitcoin and Ethereum.
- Bitcoin Mining Operations: Manages and operates facilities dedicated to the energy-intensive process of mining new Bitcoin.
- Venture Investments: Invests in promising early-stage companies and protocols within the decentralized finance and Web3 space.
- Proprietary Trading: Engages in strategic trading of digital assets to capitalize on market opportunities and generate returns.
AI Analysis | Feedback
Major Customers of DeFi Technologies (DEFT)
DeFi Technologies Inc. (symbol: DEFT) primarily offers financial products and services related to decentralized finance (DeFi) and digital assets. Through its subsidiary, Valour Inc., the company issues exchange-traded products (ETPs) that provide investors with exposure to various cryptocurrencies. Therefore, the company sells primarily to investors.
The categories of customers it serves are:
- Retail Investors: Individual investors who seek a simple and regulated way to gain exposure to digital assets like Bitcoin, Ethereum, and other cryptocurrencies through traditional brokerage accounts by purchasing Valour's ETPs.
- Institutional Investors: Professional asset managers, hedge funds, family offices, and other large financial institutions that invest in Valour's digital asset ETPs for portfolio diversification, strategic allocation to the digital asset space, or to manage risk without direct custody of cryptocurrencies.
AI Analysis | Feedback
- Coinbase Global, Inc. (COIN)
AI Analysis | Feedback
```html
```
Johan Wattenström
Chief Executive Officer & Executive Chairman
Johan Wattenström is a co-founder of Valour and DeFi Technologies, bringing nearly two decades of experience in digital assets, trading, and financial infrastructure. He previously founded and served as CEO of XBT Provider, the issuer of the world's first Bitcoin ETP, which was later acquired by CoinShares. Additionally, he founded Nortide Capital, a global digital-asset trading and market-making firm.
Paul Bozoki
Chief Financial Officer
Paul Bozoki was appointed CFO in January 2025. He is a seasoned financial executive with approximately 30 years of experience in accounting, tax, and capital markets. He has served as a CFO in various industries, including private equity, real estate, software, mining, and manufacturing, and has extensive international experience. Mr. Bozoki holds CPA designations in Ontario, Canada, and New Hampshire, USA, and an MBA from the Richard Ivey School of Business.
Russell Starr
Executive Chairman
Russell Starr is an accomplished entrepreneur and financier with extensive capital markets and industry expertise. He previously served as the CEO of DeFi Technologies and was instrumental in bringing the company to be listed on Nasdaq. Mr. Starr is a co-founder and part-owner of Echelon Wealth Partners, a Canadian investment dealer. He was also involved in the sale of Cayden Resources for CAD$205 million to Agnico Eagle.
Andrew Forson
President
Andrew Forson serves as the President of DeFi Technologies. He is also listed as Chief Growth Officer for Valour, DeFi Technologies' European ETP platform.
Philippe Lucet
General Counsel & Corporate Secretary
Philippe Lucet holds the positions of General Counsel and Corporate Secretary at DeFi Technologies. He is also listed as General Counsel for Valour.
AI Analysis | Feedback
The key risks to DeFi Technologies (DEFT) are:
-
Volatility of the Cryptocurrency Market
DeFi Technologies' business model is inherently tied to the performance and value of digital assets. The company's exchange-traded products (ETPs) and asset management services are directly impacted by the significant price fluctuations and overall volatility characteristic of the cryptocurrency market. Any downturns in digital asset prices can adversely affect the company's assets under management (AUM) and revenue generation. -
Regulatory Uncertainty in the Decentralized Finance (DeFi) Space
The decentralized finance sector, in which DeFi Technologies operates, currently faces an evolving and often unclear regulatory landscape. A lack of comprehensive regulatory clarity, particularly concerning digital assets and DeFi protocols, introduces significant risks. Potential new regulations or changes to existing ones could impact the company's product offerings, operational structure, expansion strategies (especially into markets like the U.S.), and overall business model, potentially leading to increased compliance costs or restrictions on its activities. -
Security and Operational Risks of DeFi Technologies
DeFi Technologies, by engaging with decentralized finance, is exposed to inherent technological and operational risks. These include vulnerabilities in smart contracts, potential for hacks, exploits, and various forms of fraud prevalent within the DeFi ecosystem. Such security breaches or operational failures can lead to substantial financial losses, reputational damage, and a decline in investor trust in the company's products and services.
AI Analysis | Feedback
null
AI Analysis | Feedback
DeFi Technologies (symbol: DEFT) operates within the rapidly expanding decentralized finance (DeFi) and broader digital asset markets. The company's main products and services include issuing exchange-traded products (ETPs) through its subsidiary Valour, digital asset management, trading and liquidity services, and venture investments in blockchain infrastructure companies.
The addressable markets for DeFi Technologies' offerings are substantial:
- Decentralized Finance (DeFi) Market: The global decentralized finance market size was estimated at USD 26.94 billion in 2025 and is projected to reach USD 1,417.65 billion by 2033, growing at a compound annual growth rate (CAGR) of 68.2% from 2026 to 2033. Other estimates place the global DeFi market at USD 238.54 billion in 2026, projected to reach USD 770.56 billion by 2031, expanding at a 26.43% CAGR. Another report indicates the global decentralized finance market size was valued at USD 32.36 billion in 2025 and is predicted to increase to approximately USD 1976.09 billion by 2035, expanding at a CAGR of 50.86% from 2026 to 2035.
- Exchange-Traded Products (ETPs) / Digital Asset ETPs: The global exchange-traded fund (ETF) industry, which encompasses ETPs, recorded total assets under management (AUM) of approximately US$14.8 trillion worldwide by Q4 2024. Specifically in the United States, assets invested in the ETFs industry reached a new record of US$14.28 trillion at the end of February 2026. European ETFs saw their total AUM approach US$2.3 trillion by the end of 2024. Digital Asset ETPs, such as spot Bitcoin ETPs, have shown significant growth, with the five largest US ETPs collectively reaching over $70 billion in AUM by the end of 2024.
- Blockchain Infrastructure Market: The global blockchain market is projected to grow from USD 32.99 billion in 2025 to USD 393.45 billion by 2030 at a CAGR of 64.2%. Another projection for the blockchain in infrastructure market estimates a valuation of USD 110.24 billion by 2032, expanding at a CAGR of 26.11% from 2024 to 2032. The global blockchain technology market size is also estimated to reach USD 1.43 trillion by 2030, registering a CAGR of 90.1% from 2025 to 2030.
AI Analysis | Feedback
Here are 3-5 expected drivers of future revenue growth for DeFi Technologies (DEFT) over the next 2-3 years:
- Growth in Assets Under Management (AUM) and Net Inflows into ETPs: DeFi Technologies' Valour platform has consistently reported record Assets Under Management (AUM) and strong net inflows into its Exchange Traded Products (ETPs). As of September 30, 2025, AUM reached approximately $989.1 million, with Q3 net inflows of $38.8 million and year-to-date inflows of $116.2 million. The company also expanded its product offering, reaching 100 ETPs in October 2025, which are key components of its recurring revenue.
- Geographic Expansion: The company has been actively expanding its market reach, with listings on the London Stock Exchange, SIX Swiss Exchange, and Brazil's B3 exchange in 2025. DeFi Technologies plans to continue this geographic expansion in 2026, targeting further growth across Europe, Latin America, Africa, and the Middle East.
- Monetization of DeFi Alpha Opportunities: While DeFi Alpha-related revenues experienced delays in 2025 due to market conditions, management anticipates deploying more capital and increasing monetization rates from these arbitrage trading opportunities. This is expected to follow infrastructure upgrades and the company's recent $100 million equity raise, supported by a bullish outlook on cryptocurrency prices.
- Launch of "Valour Custody" as a Standalone Business Line: In 2026, DeFi Technologies plans to launch Valour Custody, making its internal custody platform available to external clients. This new standalone business line is expected to generate an additional revenue stream by offering its robust custody solutions to other market participants.
- Expansion into Decentralized Market Services and Growth of Stillman Digital: The company intends to expand into decentralized market services in 2026. Additionally, its subsidiary, Stillman Digital, has demonstrated growth, generating $2.2 million in trading commissions in Q3 2025 and contributing significantly to the company's overall revenue, further enhancing its institutional trading capabilities.
AI Analysis | Feedback
```html
```
Capital Allocation Decisions for DeFi Technologies (DEFT)
Share Repurchases
- DeFi Technologies announced a Normal Course Issuer Bid (NCIB) to repurchase up to 31,673,791 common shares, representing 10% of its public float, effective from August 26, 2025, through August 26, 2026.
Share Issuance
- As of September 2025, the company's 6-Month Share Buyback Ratio was -18.04%, suggesting potential share issuance during that period.
- Basic Shares Outstanding were 385.8 million as of October 1, 2025, with Fully Diluted Shares Outstanding at 393.2 million as of December 31, 2025.
Outbound Investments
- DeFi Technologies is involved in early-stage investments in companies, banks, and foundations within the digital asset sector.
- The company operates through various integrated business lines, including Valour for regulated exchange-traded products, Stillman Digital for institutional-grade digital asset prime brokerage, and DeFi Alpha for arbitrage trading.
Capital Expenditures
- In the 12 months prior to March 2026, capital expenditures were approximately -24.15K.
Peer Outperformance in Diversified Capital Markets
nullShare of Diversified Capital Markets constituents that DEFT has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
13%
of 39 industry peers · -78.3% return
3Y
—
insufficient peer history
5Y
—
insufficient peer history
null
Median price return by industry across the Financials sector, ranked by 5Y. Diversified Capital Markets is DEFT's own industry. Use this to see which corners of the sector have carried the returns.
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Reinsurance | 7 | 24.6% | 65.1% | 118.9% | SPNT 172% · RGA 148% · RNR 143% |
| Diversified Banks | 13 | 30.8% | 126.1% | 107.5% | CM 145% · RY 136% · JPM 135% |
| Investment Banking & Brokerage | 13 | -3.4% | 106.1% | 106.4% | IBKR 500% · SNEX 250% · HOOD 173% |
| Life & Health Insurance | 20 | 6.0% | 51.0% | 96.2% | JXN 490% · UNM 351% · FG 188% |
| Multi-Sector Holdings | 4 | 4.9% | 46.9% | 79.4% | JONE 362% · BRK-B 83% · VOYA 76% |
| Property & Casualty Insurance | 42 | 7.6% | 65.1% | 64.8% | ASIC 2651900% · HRTG 384% · UVE 302% |
| Regional Banks | 266 | 23.0% | 89.6% | 58.7% | ESQ 366% · BLX 350% · GCBC 303% |
| Multi-line Insurance | 9 | 6.4% | 68.9% | 58.1% | GNW 161% · L 102% · SLF 95% |
| Financial Exchanges & Data | 15 | -0.9% | 17.9% | 26.2% | VIRT 163% · CBOE 128% · CME 69% |
| Diversified Financial Services | 4 | -8.1% | 24.2% | 25.1% | FRHC 168% · EQH 102% · TMS -51% |
| Consumer Finance | 30 | -3.0% | 81.8% | 15.9% | ENVA 403% · EZPW 294% · FCFS 162% |
| Commercial & Residential Mortgage Finance | 15 | -46.0% | 24.4% | 11.0% | FNMA 456% · FMCC 423% · ACT 174% |
| Insurance Brokers | 16 | -19.5% | -10.6% | 10.2% | LIFE 231% · ARX 88% · AJG 57% |
| Asset Management & Custody Banks | 87 | -9.8% | 14.8% | 6.6% | WT 326% · SII 278% · VCTR 272% |
| Specialized Finance | 3 | 12.8% | 40.3% | -6.3% | EFC 24% · CACC -6% · HASI -20% |
| Mortgage REITs | 33 | -12.2% | 6.3% | -26.1% | NREF 53% · RITM 41% · DX 30% |
| Diversified Capital Markets ← | 25 | -31.1% | 6.6% | -46.4% | OPY 187% · LPLA 99% · GOLD 83% |
| Transaction & Payment Processing Services | 17 | -1.2% | -7.7% | -46.6% | V 62% · MA 61% · CPAY 48% |
Median of constituents with a full price history over each window. Top names are unfiltered by size in this render.
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 19.58 |
| Mkt Cap | 6.8 |
| Rev LTM | 677 |
| Op Inc LTM | -268 |
| FCF LTM | -1,068 |
| FCF 3Y Avg | -781 |
| CFO LTM | -291 |
| CFO 3Y Avg | -228 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 4.1% |
| Rev Chg 3Y Avg | 49.5% |
| Rev Chg Q | -22.6% |
| QoQ Delta Rev Chg LTM | -5.8% |
| Op Inc Chg LTM | -64.7% |
| Op Inc Chg 3Y Avg | -59.9% |
| Op Mgn LTM | -55.7% |
| Op Mgn 3Y Avg | -44.6% |
| QoQ Delta Op Mgn LTM | -6.7% |
| CFO/Rev LTM | -73.0% |
| CFO/Rev 3Y Avg | -62.9% |
| FCF/Rev LTM | -154.1% |
| FCF/Rev 3Y Avg | -168.7% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Valour Inc | 89 | 28 | -3 | ||
| Stillman Digital | 10 | 2 | |||
| Reflexivity | 0 | 1 | |||
| Neuronomics | 0 | ||||
| DeFi | -0 | 0 | 11 | ||
| DeFi Bermuda | 0 | ||||
| Single segment | -10 | 12 | |||
| Total | 99 | 31 | 8 | -10 | 12 |
| $ Mil | 2025 | 2024 |
|---|---|---|
| Valour Inc | 76 | -8 |
| Stillman Digital | 0 | 1 |
| Reflexivity | -0 | 0 |
| Neuronomics | -0 | |
| DeFi | -30 | -23 |
| Total | 47 | -30 |
| $ Mil | 2025 | 2024 | 2023 |
|---|---|---|---|
| Valour Inc | 77 | -7 | -19 |
| Neuronomics | 0 | ||
| Stillman Digital | -1 | 1 | |
| Reflexivity | -2 | 0 | |
| DeFi | -12 | -23 | 4 |
| DeFi Bermuda | 0 | ||
| Total | 62 | -29 | -15 |
| $ Mil | 2025 | 2024 | 2023 |
|---|---|---|---|
| Valour Inc | 703 | 860 | 446 |
| DeFi | 84 | 40 | 0 |
| Stillman Digital | 37 | 18 | |
| Reflexivity | 0 | 0 | |
| DeFi Bermuda | 0 | ||
| Total | 825 | 919 | 446 |
Price Behavior
Price Behavior
| Market Price | $0.53 | |
| Market Cap ($ Bil) | 0.2 | |
| First Trading Date | 12/28/2006 | |
| Distance from 52W High | -79.5% | |
| 50 Days | 200 Days | |
| DMA Price | $0.51 | $1.94 |
| DMA Trend | down | up |
| Distance from DMA | 4.0% | -72.5% |
| 3M | 1YR | |
| Volatility | 102.3% | 105.2% |
| Downside Capture | 513.88 | 562.77 |
| Upside Capture | 439.24 | 292.91 |
| Correlation (SPY) | 48.0% | 50.1% |
DEFT Betas & Captures as of 8/31/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 4.10 | 4.09 | 3.31 | 3.90 | 4.00 | 0.13 |
| Up Beta | 2.26 | 2.61 | 4.45 | 3.46 | 4.55 | -0.79 |
| Down Beta | -5.40 | 2.92 | 1.05 | 3.31 | 3.25 | 0.94 |
| Up Capture | 988% | 662% | 451% | 734% | 757% | 83% |
| Bmk +ve Days | 10 | 21 | 32 | 68 | 138 | 427 |
| Stock +ve Days | 11 | 19 | 26 | 57 | 104 | 134 |
| Down Capture | 242% | 399% | 307% | 273% | 198% | 112% |
| Bmk -ve Days | 11 | 21 | 32 | 59 | 113 | 324 |
| Stock -ve Days | 10 | 23 | 38 | 70 | 141 | 185 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with DEFT | |
|---|---|---|---|---|
| DEFT | -78.4% | 105.0% | -0.98 | - |
| Sector ETF (XLF) | 2.2% | 14.7% | -0.07 | 32.2% |
| Equity (SPY) | 16.2% | 13.0% | 0.88 | 50.5% |
| Gold (GLD) | 13.9% | 29.3% | 0.44 | 18.7% |
| Commodities (DBC) | 46.6% | 20.7% | 1.75 | -15.1% |
| Real Estate (VNQ) | 4.5% | 13.7% | 0.08 | 20.6% |
| Bitcoin (BTCUSD) | -23.2% | 44.8% | -0.46 | 54.1% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with DEFT | |
|---|---|---|---|---|
| DEFT | -32.8% | 98.4% | -1.04 | - |
| Sector ETF (XLF) | 9.5% | 18.4% | 0.38 | 31.9% |
| Equity (SPY) | 12.9% | 17.2% | 0.57 | 47.6% |
| Gold (GLD) | 18.6% | 18.8% | 0.80 | 15.0% |
| Commodities (DBC) | 10.5% | 19.5% | 0.41 | -13.7% |
| Real Estate (VNQ) | 0.8% | 18.9% | -0.06 | 19.2% |
| Bitcoin (BTCUSD) | 12.5% | 52.6% | 0.41 | 52.5% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with DEFT | |
|---|---|---|---|---|
| DEFT | -18.0% | 98.4% | -1.04 | - |
| Sector ETF (XLF) | 13.0% | 22.1% | 0.53 | 31.9% |
| Equity (SPY) | 15.5% | 17.9% | 0.73 | 47.6% |
| Gold (GLD) | 12.1% | 16.4% | 0.60 | 15.0% |
| Commodities (DBC) | 8.5% | 18.1% | 0.38 | -13.7% |
| Real Estate (VNQ) | 4.9% | 20.7% | 0.20 | 19.2% |
| Bitcoin (BTCUSD) | 64.2% | 66.2% | 1.04 | 52.5% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Updated 6/3/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| SUMMARY STATS | |||
| # Positive | 0 | 0 | 0 |
| # Negative | 0 | 0 | 0 |
| Median Positive | |||
| Median Negative | |||
| Max Positive | |||
| Max Negative | |||
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| SUMMARY STATS | |||
| # Positive | 0 | 0 | 0 |
| # Negative | 0 | 0 | 0 |
| Median Positive | |||
| Median Negative | |||
| Max Positive | |||
| Max Negative | |||
Industry Resources
| Financials Resources |
| Federal Reserve Economic Data |
| Federal Reserve |
| FDIC Data |
| American Banker |
| The Banker |
| Banking Technology |
| Diversified Capital Markets Resources |
| International Financing Review (IFR) |
| Financial News |
| Global Capital |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
Prefer one of these to Trefis? Tell us why.
Core Cache Last Updated: 9/23/2026