DeFi Technologies lowers FY25 revenue view to $116.6M from $218.6M

Consensus is for FY25 revenue $188.25M. The company said, “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,” and added: ” As of September 30 Valour’s ETP business reported $989.1M 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 $116.6M. The reduction of the Company’s annualized revenue forecast for 2025 from $218.6M 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 $100M 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.”