4 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Overview →
| FY | Revenue | Net income | Gross M | Op M | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|
| 2025 | $11M | -$74M | 97.8% | -319.7% | -$18M | $127M | $6M |
| 2024 | $2M | -$3M | 98.5% | -143.0% | -$2M | $0 | $3M |
| 2023 | — | -$3M | — | — | -$2M | — | $5M |
| 2022 | — | -$1M | — | — | -$1M | — | $981125 |
| Quarter | Revenue | Net income | Gross M | Op M | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|
| Mar '26 | $3M | -$83M | 96.1% | -2072.8% | — | $128M | $4M |
| Dec '25 | $4M | -$144M | 97.2% | -2780.5% | -$11M | $127M | $6M |
| Sep '25 | $5M | $56M | 98.1% | 1558.6% | -$5M | $132M | $9M |
| Jun '25 | $2M | $15M | 98.6% | 865.6% | — | $22M | $2M |
| Mar '25 | $287000 | -$778000 | 97.6% | -307.7% | — | — | $2M |
| Dec '24 | $629000 | -$486000 | 98.7% | -107.9% | -$189000 | $0 | $3M |
| Sep '24 | $619000 | -$471000 | 98.7% | -73.3% | -$412000 | — | $3M |
| Jun '24 | $441000 | -$805000 | 98.2% | -193.2% | -$687397 | — | $3M |
| Mar '24 | $411137 | -$964051 | 97.9% | -247.7% | -$1M | — | $4M |
| Dec '23 | — | -$1M | — | — | -$679399 | — | $5M |
| Sep '23 | $583785 | -$2M | 100.0% | -280.7% | -$595265 | — | $6M |
| Jun '23 | $601940 | -$397851 | 100.0% | -40.9% | -$108213 | — | $2M |
| Mar '23 | $467240 | -$220186 | 100.0% | -58.6% | -$213734 | — | $767391 |
| Dec '22 | — | $269724 | — | — | -$249469 | — | $981125 |
| Sep '22 | — | -$267642 | — | — | — | — | $1M |
| Jun '22 | — | -$375136 | — | — | — | — | $1M |
| Mar '22 | — | -$888621 | — | — | — | — | — |
How the market has priced DFDV against its own fundamentals since 2025-05 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.
Over the past 3 years, DeFi Development Corp.'s revenue has grown 442.2% per year. These are computed facts, not advice.
As of FY2025, DeFi Development Corp. reported $127M of total debt against $6M of cash; operating income covered interest expense -4.1×.
In FY2025, gross margin was 97.8%, operating margin -319.7%, and net margin -648.1%.
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.