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DeFi Development Corporation
(NASDAQ:DFDV)
DeFi Development Corporation (DFDV) vs. SPDR S&P 500 ETF (SPY)
DeFi Development Corporation Business Overview & Revenue Model
DeFi Development Corporation Financial Statement Overview
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 3.52M | 2.10M | 2.00M | 2.15M | 1.98M | 1.56M |
| Gross Profit | 3.47M | 2.07M | 2.00M | 2.15M | 1.98M | 1.56M |
| EBITDA | 15.92M | -2.50M | -3.40M | -1.26M | -1.62M | 412.82K |
| Net Income | 13.70M | -2.73M | -3.37M | -1.26M | -1.62M | 319.02K |
Balance Sheet | ||||||
| Total Assets | 107.23M | 4.38M | 6.68M | 1.34M | 1.86M | 740.20K |
| Cash, Cash Equivalents and Short-Term Investments | 3.06M | 2.86M | 5.08M | 981.13K | 1.71M | 415.71K |
| Total Debt | 21.68M | 13.93K | 66.66K | 112.57K | 0.00 | 0.00 |
| Total Liabilities | 27.62M | 873.84K | 867.85K | 811.53K | 1.44M | 874.31K |
| Stockholders Equity | 79.61M | 3.50M | 5.82M | 525.38K | 419.31K | -134.11K |
Cash Flow | ||||||
| Free Cash Flow | -2.66M | -2.44M | -1.60M | -1.02M | 65.84K | 346.63K |
| Operating Cash Flow | -2.65M | -2.42M | -1.57M | -1.02M | 65.84K | 362.81K |
| Investing Cash Flow | -61.26M | -22.31K | -89.05K | 0.00 | 0.00 | -16.18K |
| Financing Cash Flow | 63.14M | -117.54K | 5.75M | 297.52K | 1.23M | 49.64K |
DeFi Development Corporation Technical Analysis
DeFi Development Corporation Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $35.52B | 8.84 | -11.04% | 1.87% | 8.55% | -8.14% | |
56 Neutral | $320.10M | 24.01 | 32.66% | ― | 97.12% | ― | |
56 Neutral | $2.79M | 0.44 | -12.71% | ― | -5.08% | 93.27% | |
52 Neutral | $5.09M | <0.01 | -1102.76% | ― | 16.50% | ― | |
50 Neutral | $3.85M | ― | -3.14% | ― | 147.92% | -1754.67% | |
46 Neutral | $6.40M | ― | 163.42% | ― | -30.70% | 82.02% | |
39 Underperform | $8.96M | ― | -2201.06% | ― | -33.86% | 74.09% |
DeFi Development Corporation Corporate Events
On August 28, 2025, DeFi Development Corp. completed a private placement offering, issuing shares and pre-funded warrants to institutional and accredited investors, raising funds to acquire 407,247 Solana tokens. This acquisition increased the company’s total holdings to 1,831,011 SOL, reflecting a 29% rise. The company plans to stake these holdings for yield generation, with over $40 million in proceeds remaining for future purchases, reinforcing its strategic focus on Solana.
On August 24, 2025, DeFi Development Corp. entered into subscription agreements with institutional and accredited investors for a $125 million equity offering. The transaction involves selling approximately 4.2 million shares of common stock and pre-funded warrants for about 5.7 million shares, with a mix of cash and locked Solana (SOL) as consideration. This move aims to accelerate the company’s Solana treasury growth and enhance its strategy of maximizing Solana per Share (SPS) growth. The offering, expected to close on August 28, 2025, is part of a broader effort that has raised over $370 million in 2025, positioning DeFi Development Corp. as a leading Solana treasury vehicle in public markets.
On August 4, 2025, DeFi Development Corp. announced it had increased its holdings of Solana (SOL) to approximately 1,293,562 SOL, following a purchase of 110,466 SOL valued at approximately $18.4 million. This acquisition raised the company’s SOL per share by 7% to 0.0618, reflecting a strategic move to enhance its treasury and generate yield through staking activities. The company’s focus on SOL positions it strongly within the growing Solana ecosystem, potentially impacting its market positioning and offering benefits to stakeholders through increased economic exposure to SOL.
On July 25, 2025, DeFi Development Corp. entered into a master loan agreement with BitGo Hong Kong Limited, allowing the company to borrow digital assets or cash. The agreement includes terms for collateral, loan fees, and termination conditions. A specific loan request was agreed upon for 75,000 Solana with a 12.5% annual loan fee, maturing on November 25, 2025, secured by the company’s treasury assets at a 250% collateral level.
On July 29, 2025, DeFi Development Corp. announced it increased its holdings to approximately 1,182,685 SOL and SOL equivalents, funded by a $20 million equity line of credit. This strategic acquisition, which included purchasing 181,303 SOL between July 21 and July 28, 2025, led to a 12% increase in their SOL per share metric. The company also highlighted its ongoing use of the equity line of credit, with $4.96 billion still available, and introduced a new SPS Forecasting Calculator for investors.
On July 21, 2025, DeFi Development Corp. announced that it has increased its holdings to 999,999 SOL, following a recent purchase of 141,383 SOL, valued at approximately $19 million. The company also raised $19.2 million through its Equity Line of Credit by issuing 740,000 shares, with plans to use the remaining proceeds for future SOL purchases. This expansion in SOL holdings and strategic financial maneuvers are expected to strengthen the company’s position in the Solana ecosystem and enhance its operational capabilities.
On July 17, 2025, DeFi Development Corp. announced its global expansion through a strategic treasury franchising model, branded as the DFDV Treasury Accelerator. This initiative, supported by partners like Kraken and Pantera, involves providing franchise partners with operational and technical infrastructure while retaining equity stakes in regional vehicles. This model aims to maximize SOL per share and represents a new approach to crypto-native capital formation, enhancing DFDV’s role as a Solana-native financial platform.
On July 9, 2025, DeFi Development Corp. completed a private offering of an additional $10 million in convertible senior notes, following a previous offering of $112.5 million. The notes, not registered under the Securities Act, are intended for qualified institutional buyers, with potential conversion into common stock. The company also released an updated investor presentation and guidance on SOL per Share on July 14, 2025, highlighting its strategic focus on Solana as a key asset and its plans for significant growth in SOL per Share by 2028.
On July 2, 2025, DeFi Development Corp. released its June 2025 Shareholder Letter and Business Update, highlighting significant progress in its operations and strategic partnerships. The company has raised approximately $191 million in capital to invest in Solana, partnered with Kraken to list a tokenized version of its stock, and engaged in various collaborations to enhance its participation in the Solana ecosystem. These developments position DeFi Development Corp. as a dynamic vehicle for Solana exposure in public markets, with a focus on shareholder alignment and onchain innovation.
On July 7, 2025, DeFi Development Corp. completed a private offering of $112.5 million in 5.50% Convertible Senior Notes due 2030, with net proceeds of approximately $108.1 million. The company used $75.6 million of these proceeds to repurchase its common stock and plans to use the remainder for general corporate purposes, including acquiring Solana. The notes, which are senior unsecured obligations, are convertible into cash, shares, or a combination thereof, with specific terms for conversion and redemption. This financial move is expected to strengthen the company’s position in the market and support its strategic goals.
On June 11, 2025, DeFi Development Corp. entered into a Share Purchase Agreement with RK Capital Management LLC, allowing the company to sell up to $5 billion in common stock over 36 months. This equity line of credit is expected to support the company’s strategy of accumulating Solana and accelerating growth in SOL per share. The agreement provides flexibility for DeFi Development Corp. to raise capital gradually, aligning with market conditions and strategic needs. The proceeds will primarily be used for general corporate purposes, including potential acquisitions, and the agreement includes customary conditions and termination rights.
On May 30, 2025, DeFi Development Corp. formalized an employment agreement with Bruce Rosenbloom, who had stepped down as CFO on April 17, 2025, and now serves as Executive Vice President of Finance. The agreement includes a base salary, performance-based bonus, and a restricted stock unit award, with provisions for accelerated vesting in the event of a change in control, highlighting the company’s strategic focus on retaining key leadership during potential transitions.
On June 2, 2025, DeFi Development Corp. announced a record-setting month in May 2025, marked by significant advancements in its Solana (SOL) treasury strategy, validator infrastructure, and strategic integrations. The company achieved its largest monthly SOL purchase, launched a validator partnership with Bonk, and signed a letter of intent with Kamino Finance for integrating the dfdvSOL liquid staking token. These developments underscore the company’s commitment to expanding its Solana holdings and deepening its involvement in the DeFi sector, positioning itself as a pioneering Solana treasury strategy.