Delisting riskPopularity #3,880
DEFT · NASDAQ · Financial - Capital Markets

DeFi Technologies (DEFT)

Provides regulated digital-asset ETPs alongside trading, research, venture, and institutional-execution services.

$0.5785
vs last close−0.00 (−0.70%)
Loading prices…

DeFi Technologies Inc.DEFT
Financial sector

Sells regulated digital-asset ETPs through Valour and operates trading, venture, research, and institutional-execution businesses. Activities span market-access products, DeFi Alpha trading and arbitrage, Reflexivity research, and Stillman's liquidity, execution, settlement, and technology services.

Valour issues and lists exchange-traded products that provide indirect exposure to digital assets, related indexes, and other DeFi instruments. DeFi Alpha operates as a trading and arbitrage desk, while its Ventures business invests in the sector.

Reflexivity Research supplies crypto-native research, and Stillman Digital provides institutional liquidity, trade execution, settlement, and technology services to institutional market participants. The platform therefore combines market-access products with trading, research, venture, and execution operations.

Operations span several subsidiaries and exchange listings. Its asset-management business depends on regulated ETP listings that offer investors indirect digital-asset exposure.

Company facts

CEOJohan Wattenström
ListedMay 12, 2025
ExchangeNASDAQ
HeadquartersToronto, Canada
CountryCanada
Employees26
CIK0001888274
ISINCA2449161025

Market cap$226.0M
EPS (ttm)$0.0640
P/E (ttm)9.10
ROE18.1%
P/B1.59
P/S6.94
Dividend yieldDiv yield
Beta4.07vs XLF 0.46

Price target$1.25+115.5%Average of 3 analysts
ConsensusBuy2 of 3 analysts
Ratings

Target rangeAs of Sep 21, 2026

Latest analyst notes

DateFirmActionPriorCurrent
Aug 19, 2026Maxim GroupDowngrade
Rating: Buy
Rating: Hold
Aug 17, 2026Northland SecuritiesTarget
Target: $2.50
Target: $1.25
Nov 21, 2025Coker PalmerTarget
Target:
Target: $3
Nov 17, 2025Northland SecuritiesTarget
Target:
Target: $2.50

Next report
Nov 13, 26
in 52 days
EPS estimate
$0.00
Revenue estimate
$9.6M
Fiscal quarter
Q3 FY26

EPSReportedEstimate

Mar '25May '25Aug '25Nov '25Apr '26May '26Aug '26Nov '26
Reported−$0.04$0.08$0.05$0.01$0.08$0.01−$0.03Pending
Estimate$0.05$0.05$0.07$0.07$0.03−$0.01−$0.01$0.00
Surprise−175.5%+60.0%−28.6%−85.7%+201.1%+198.9%−200.0%

RevenueReportedEstimate

Mar '25May '25Aug '25Nov '25Apr '26May '26Aug '26Nov '26
Reported$29.6M$43.6M$32.6M$22.7M$20.2M$11.1M$7.8MPending
Estimate$30.0M$21.3M$45.0M$42.7M$22.2M$16.0M$10.2M$9.6M
Surprise−1.3%+104.2%−27.6%−46.8%−8.9%−30.6%−23.6%
Estimate$0.00
ReportedDue Nov 13, 2026
Estimate$9.6M
ReportedDue Nov 13, 2026
View details

Debt to equity0.00%
Current ratio114.00%

ProfitabilityRevenueNet incomeNet margin

Q3 FY24Q4 FY24Q1 FY25Q2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26
Revenue$38.2M−$5.5M$33.9M$27.1M$31.7M−$4.0M$1.8M$3.0M
Net income$21.0M−$136.3M$43.1M−$1.3M$5.6M$29.7M$4.9M−$14.7M
Net margin54.9%126.9%0.0%17.7%274.0%0.0%

GrowthOperating income

Q3 FY24Q4 FY24Q1 FY25Q2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26
Operating income$17.5M−$118.1M$43.4M−$620.1K$12.9M$29.1M$5.6M−$14.3M
YoY growthLoss widenedTurned profitTurned loss−26.4%Turned profit−87.0%Loss widened

Balance sheet, Jun 30, 2026Cash & short-term investments $483.6M · Total debt $0 · Total assets $572.6M · Shareholders' equity $142.4M

Revenue
$3.0M
Operating income
−$14.3M
Net income
−$14.7M
View details

No dividends on record.

Institutions8.07%31.29M shares
110 holders · as of Jun 30, 2026
Other91.93%356.61M shares
remainder

387.90M company shares as of Aug 28, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing

Top shareholders13F · 13D/G · Form 4

HolderStakeSharesDate
Weiss Asset Management LPInstitution
1.59%6.17Mas of Jun 30, 2026
Charles Schwab Investment Management IncInstitution
0.80%3.10Mas of Jun 30, 2026
Sixth Street Partners Management Company, L.P.Institution
0.80%3.10Mas of Jun 30, 2026
Susquehanna International Group, LLPInstitution
0.70%2.72Mas of Jun 30, 2026
Bank of Montreal /Can/Institution
0.57%2.21Mas of Jun 30, 2026

Insider tradesForm 4

Nothing filed in the last 12 months.

View details

  • CoinShares

    Digital-asset ETP issuer with institutional trading capabilities

  • Galaxy Digital

    Institutional digital-asset trading, asset management, and ETP platform

  • Coinbase

    Institutional crypto prime brokerage, trading, and custody platform

Compare

CompanyPriceChange
DeFi Technologies$0.5785−0.70%$226.0M9.135.06.9−76.1%
CoinShares$5.92−0.76%$785.4M
Galaxy Digital$27.12+4.01%$8.65B0.1−3.8%
Coinbase$198.18−1.43%$53.04B303.29.6−18.5%
Median303.24.9−11.2%