EQS-News: DeFi Technologies Inc.
/ Key word(s): Annual Results/Personnel
TORONTO, Nov. 14, 2025 /CNW/ - 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 September 30, 2025. All dollar amounts referred to in this press release are in U.S. Dollars unless otherwise stated.  Financial Highlights
Cash and Treasury Position
Total value of cash and digital asset treasury: $165.7 million as of September 30, 2025. The Company regularly monitors its cash and digital asset reserves on a consolidated basis, and as part of this review, it has allocated a portion of its digital asset treasury reserve for the purposes of hedging the market risk of its ETPs. This approach reflects both prudent treasury management and a disciplined use of capital-strengthening the balance sheet while directly supporting the performance and resilience of the Company's ETP platform. By holding a diversified mix of cash and digital assets, DeFi Technologies can better manage volatility, protect against adverse market conditions, and capitalize on market opportunities as they arise. Comment from the CEO, Olivier Roussy Newton: "Q3 2025 was another milestone quarter for DeFi Technologies and a testament to the strength and scalability of our platform. We delivered revenues of $22.5 million and operating income of $9 million, marking another profitable quarter. With average AUM exceeding $900 million per month in the third quarter, the highest quarterly average in history, and net inflows every month year-to-date, we continue to demonstrate the power of our integrated asset management and trading ecosystem. Beyond the numbers, this quarter reinforced our position as a true institutional bridge between traditional finance and decentralized markets. Valour's product expansion and consistent inflows, Stillman's growing institutional footprint, and our disciplined capital allocation all speak to a company operating at scale. From a business perspective, DeFi Technologies has never been stronger - financially, operationally, and strategically. Our $165.7 million balance sheet gives us the flexibility to launch new structured products and funds, accelerate the rollout of SovFi and other hybridized DeFi-TradFi products, and pursue strategic investments and potential M&A that enhance long-term shareholder value. I'm immensely proud of what our team has built. Over the past three years, we've scaled Valour's ETP platform, executed targeted acquisitions, institutionalized our operations, and delivered record financial results. With Johan Wattenström stepping in as CEO and Executive Chairman, I'm confident DeFi Technologies is entering its next phase of growth stronger than ever. My focus now turns to advancing post-quantum solutions at BTQ Technologies, which is critical for the survival of the digital asset space while continuing as a cornerstone shareholder, partner, and advisor to ensure continuity of vision and execution as DeFi Technologies builds the future of digital finance." Comment from Incoming CEO, Johan Wattenstrom: "Olivier and I have built this company together from the ground up. I'm grateful for his leadership and friendship, and I look forward to leading DeFi Technologies into its next phase of growth. We will continue to scale our ETP platform globally, expand our trading operations both internally and through Stillman Digital, and continue to bridge traditional capital markets with the digital asset ecosystem." Outlook for 2025 The outlook of the Company and for each business segment that follows supersedes all prior financial outlook statements made by the Company, constitutes forward-looking information within the meaning of applicable securities laws, and is based on a number of assumptions and subject to a number of risks. Actual results could vary materially as a result of numerous factors, including certain risk factors, many of which are beyond the Company's control. Please see "Cautionary note regarding forward-looking information" and "Financial Outlook Assumptions" below for more information. DeFi Technologies Outlook for 2025 As of September 30, 2025, Valour's ETP business reported US$989.1 million in AUM. This growth has been supported by favorable market conditions, the launch of new ETPs, and strategic corporate initiatives, including Defi Alpha, that have boosted both trading activity and overall financial performance. Revenue from staking and lending, management fees, and mark-to-market changes in digital assets and ETP payables has remained closely correlated with both the level of capital inflow into Valour's products and the performance of the underlying digital assets, which continued to appreciate into the latter half of 2025. Additionally, Valour continues to seek and optimize revenue-generating opportunities of its digital asset holdings. Based on current performance, digital asset price levels and market trends, the Company's annualized revenue for 2025 is forecasted at approximately $116.6 million. The reduction of the Company's annualized revenue forecast for 2025 from $218.6 million is primarily due to a delay in executing DeFi Alpha arbitrage opportunities previously forecasted due to the proliferation of digital asset treasury companies and the consolidation in digital asset price movement in the latter half of 2025. The Company believes that with its strong balance sheet, bolstered by the recent $100 million equity financing, it stands ready to effectively compete for future profitable arbitrage opportunities. Continued growth in AUM, combined with opportunistic DeFi Alpha trade revenue, may lead to proportional increases in revenue going forward. The Company will provide 2026 revenue guidance when it files its 2025 annual results. Valour Asset Management In Q3 2025, Valour continued to advance its global growth strategy, reinforcing its leadership in the regulated digital asset ETP space. Valour has now met its forecast of 100 ETPs listed across European and UK exchanges. Valour continues to develop a strong pipeline of digital assets ETPs, including leveraged and warrant ETPs, alongside innovative single-asset and thematic baskets-broadening product diversity and meeting the growing demand for secure, regulated digital asset exposure. Beyond Europe, Valour is executing a deliberate expansion into high-growth regions, including Africa, Asia, the Middle East, and other emerging markets. Strategic Considerations for Growth Valour's expansion strategy integrates cross-listings, market-making, FX considerations, localized marketing, and partnerships with regional institutional players. This approach is designed to address the complexities of entering new jurisdictions, from navigating diverse regulatory frameworks to ensuring liquidity and cultural alignment. In markets where digital asset regulation remains nascent, Valour is positioning itself as a trailblazer, shaping market standards while building brand trust. The Company expects additional listings to come online in the months ahead, supported by a robust pipeline extending into 2026. Strategic locations yet to be announced will further advance Valour's mission to bridge traditional securities with the digital asset ecosystem. Strong Investor Demand Valour's ETP business has seen tremendous growth over the past three years. In 2024, total inflows reached US$124.4 million, more than doubling 2023's US$49.5 million and tripling 2022's US$38.4 million. This momentum has carried into 2025, with inflows reaching US$116.2 million as of September 2025. The sustained growth highlights Valour's strengthened market position and its ability to capture significant capital flows in the current digital asset environment. Stillman Digital Stillman Digital has delivered strong performance since joining the DeFi Technologies portfolio, generating $6.1M in revenue for the nine months ended September 30, 2025, and forecast to close 2025 with approximately $8.6 M in revenue on strong trading volumes with margins in the 25-50% range. Stillman's business is robust across the crypto price cycle. Stillman Digital's strategic priorities include a continued focus on expanding business development efforts, enhancing global reach, and deepening capabilities in key areas such as foreign exchange and stablecoin services. Stillman is also focused on building out its distribution infrastructure through initiatives like Finery, Hidden Road Partners, and the Circle Alliance Program. Importantly, the Company is experiencing consistent growth in trading volume and its number of active customers, reflecting increasing market demand and engagement. Strategic Focus:
Looking ahead, Stillman Digital is well-positioned to accelerate its growth into 2026, leveraging DeFi Technologies' support and strategic resources to unlock new opportunities and continue expanding its global footprint. DeFi Alpha The Company continues to assess and execute on arbitrage opportunities through its specialized trading desk, DeFi Alpha. In May 2025, DeFi Alpha made one locked token trade with a $23.8 million discount, which will be realized over 3 years if the SUI price is $3.51 per token or higher at maturity. A second locked token trade was executed in November 2025 with a $3.2 million discount that will be realized over 3 years if the SOL price is $167 per token or higher at maturity. This strategy has significantly strengthened the Company's financial position, enabling debt repayment and supporting the ongoing expansion of its digital asset treasury. With the proliferation of digital asset treasury companies in the latter half of 2025, the Company experienced delays in its pipeline of arbitrage opportunities and compressed arbitrage profits. However, given the volatility in the digital asset market, the Company believes that with its strong balance sheet, bolstered by the recent $100 million equity financing, it stands ready to effectively compete for future profitable arbitrage opportunities. The DeFi Alpha strategy has proven to be a pivotal driver of DeFi Technologies' financial resilience, enhancing the Company's position in an ever-evolving digital asset landscape. Through its arbitrage-focused approach, DeFi Alpha has strengthened the Company's financial foundation, enabling debt repayment while supporting the deployment of a robust digital asset treasury strategy. This strategic model has proven effective in mitigating risks while maximizing returns, even in the face of market volatility. Strategic Focus and Competitive Edge: DeFi Alpha was designed to capitalize on the Company's balance sheet through both systematic and opportunistic trading strategies. The approach uniquely positions DeFi Alpha to take advantage of market opportunities while leveraging its balance sheet advantages. Many of the trades pursued are exclusive, backed by strong partnerships and significant holdings tied to ETPs, making these opportunities largely inaccessible to other firms. This exclusivity, combined with efficient execution in low-competition areas, is what gives DeFi Alpha its strategic edge in the market. Reflexivity Research Expanded Distribution Channels Updated Product Packages and Pricing New Revenue Channels in Development Revamped Outbound Sales Process Looking ahead, Reflexivity plans to build on these initiatives by finalizing the brand refresh, launching the new sponsorship products, and continuing to expand its institutional footprint through strategic partnerships and targeted outbound campaigns. In the meantime, Reflexivity's research product continues to support the growth of Valour's ETP business. DeFi Advisory DeFi Advisory is positioning itself as a full-stack partner for corporate digital asset treasury programs. Since launching the division, we have secured mandates with two clients and built a strong pipeline of prospective engagements. Leveraging the capabilities of subsidiaries such as Stillman Digital, Neuronomics, and Reflexivity Research, alongside our deep expertise in digital assets and public markets, DeFi Advisory is well positioned to expand its client base and provide tailored strategies for public companies integrating digital assets into their treasuries. CEO Transition The Company is also announcing that Olivier Roussy Newton has resigned as Chief Executive Officer and Executive Chairman of the Board. The Company's Board of Directors has appointed Johan Wattenström, Co-Founder of Valour and DeFi Technologies, as Chief Executive Officer and Executive Chairman, effective upon Mr. Roussy Newton's departure. Following the transition, Mr. Roussy Newton will remain a cornerstone shareholder, partner, and advisor to the Company, ensuring continuity of vision and execution as DeFi Technologies enters its next stage of expansion. Earnings Conference Call The DeFi Technologies Q3 2025 Financial Results webcast will commence at 12:00 p.m. ET, Friday, November 14, 2025. To register for the live webcast, please visit this link: https://zoom.us/webinar/register/WN_eLmAKme0TuOb7moOXaH7qA Supplemental Materials and Upcoming Communications The Company has made available on its website materials designed to accompany the discussion of its results, along with certain supplemental financial information and other data. For important news and information regarding the Company, including investor presentations and the timing of future investor conferences, visit the Investor Relations section of the Company's website: https://defi.tech/investor-relations. Analyst Coverage of DeFi Technologies A full list of DeFi Technologies analyst coverage can be found here: https://defi.tech/investor-relationsresearch. For inquiries from institutional investors, funds, or family offices, please contact: Upcoming Conferences & Events
About DeFi Technologies DeFi Technologies Subsidiaries About Valour Valour Inc. and Valour Digital Securities Limited (together, "Valour") issues exchange traded products ("ETPs") that enable retail and institutional investors to access digital assets in a simple and secure way via their traditional bank account. Valour is part of the asset management business line of DeFi Technologies. For more information about Valour, to subscribe, or to receive updates, visit valour.com. About Stillman Digital Stillman Digital is a leading digital asset liquidity provider that offers limitless liquidity solutions for businesses, focusing on industry-leading trade execution, settlement, and technology. For more information, please visit https://www.stillmandigital.com About Reflexivity Research Reflexivity Research LLC is a leading research firm specializing in the creation of high-quality, in-depth research reports for the bitcoin and digital asset industry, empowering investors with valuable insights. For more information please visit https://www.reflexivityresearch.com/ Cautionary note regarding forward-looking information: Financial Outlook Assumptions The financial outlook on revenue of the Company is based on a number of assumptions, including assumptions related to inflation, changes in interest rates, volatility of the digital asset market, current and projected market prices of digital assets, in particular the digital assets underlying the Company's ETPs, the Company's ability to realize staking and lending income from digital assets held by the Company, the ability of DeFi Alpha to generate yield on the Company's excess liquidity and identify and execute accretive trading opportunities, external competition for arbitrage opportunitites for digital assets; the return realized by the Company on staking and lending income, the return on management fees earned by the Company, business model of Reflexivity Research, trading volumes of Stillman Digital, successful implementation of technological upgrades at Stillman Digital, successful development and aunch of products by Neuronomics AG, succesful development of the DeFi Advisory business line; consumer interest in the Valour's ETPs, foreign exchange rates and other macroeconomic conditions, the regulatory environment with respect to ETPs and digital assets in the jurisdictions that the Company operates in, introduction of future ETPs, "black swan events" in the digital asset industry, competitors that offer competing ETP products and market acceptance of the Company's ETP offerings. The Company's financial outlook, including the various underlying assumptions, constitutes forward-looking information and should be read in conjunction with the cautionary statement on forward-looking information above. Many factors may cause the Company's actual results, level of activity, performance or achievements to differ materially from those expressed or implied by such forward-looking information, including the risks and uncertainties related to: macroeconomic factors affecting the digital asset industry, including inflation, changes in interest rates, investor confidence in digital assets; proliferation of digital asset companies; volatility of the digital assets and fluctuation in market value of digital assets; exchange rate fluctuations; any pandemic; fraud, misconduct or gross negligence by individuals within the digital asset industry; a negative regulatory environment with respect to digital assets; the Russian invasion of Ukraine and reactions thereto; the Israel-Hamas war and reactions thereto; the Company's inability to attract purchasers of its ETPs; decrease in AUM as a result of investor selling the Company's ETPs or a fall in the value of the underlying digital assets; Valour's inability to launch attractive ETPs; the Valour's inability to increase ETP sales; the Company's inability to implement our growth strategy; the Company's reliance on a small number of custodian and market participants to operate its ETP programs; decrease in the number of subscribers to Reflexivity Research; decrease in the number of trades or fees generated by Stillman Digital; the Company's ability to execute on its Defi Advisory strategyl the Company's ability to prevent and manage information security breaches or other cyber-security threats; the Company's ability to compete against competitors; strategic relations with third parties; changes to technologies on which ETPs are purchased and sold is reliant; Valour's ability to distribute ETPs in jurisdictions it is not currently operating in; the Company's ability to obtain, maintain and protect our intellectual property; the Company's ability to execute on its acquisition strategy; the Company's liquidity and capital resources; pending and threatened litigation and regulatory compliance; orderly receipt of collateral held at insolvent counterparties; changes in tax laws and their application; the Company's ability to expand its sales, marketing and support capability and capacity; and maintaining our customer service levels and reputation. The purpose of the forward-looking information is to provide the reader with a description of management's expectations regarding our financial performance and may not be appropriate for other purposes. THE CBOE CANADA EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE Logo - https://mma.prnewswire.com/media/2823181/DeFi_Technologies_Inc__DeFi_Technologies_Inc__Announces_Q3_2025.jpg
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