Page Last Reviewed: July 7, 2026
DeFi Technologies Inc. (NASDAQ: DEFT) has become one of the more closely watched crypto-adjacent equities on Nasdaq, offering investors indirect exposure to digital assets through a regulated, publicly traded structure rather than direct token ownership. The Toronto-based company, formerly known as Valour Inc. before its 2023 rebrand, posted record annual revenue in 2025 even as its share price fell sharply from 52-week highs — a disconnect that has put its business fundamentals and its stock performance on divergent paths. Here’s what the numbers say about DEFT right now.
Key Takeaways
- DEFT trades on Nasdaq at roughly $0.53 as of July 6, 2026, down from a 52-week high of $3.59.
- The company reported record full-year 2025 revenue of $99.1 million and net income of $62.7 million.
- Q1 2026 revenue came in at $11.2 million with $4.9 million in net income, alongside $156 million in cash and digital asset holdings.
- Nasdaq notified DeFi Technologies in March 2026 that its stock had traded below the $1.00 minimum bid price for 30 consecutive days, triggering a listing compliance issue.
- The company is also facing a securities class action related to disclosures, with a January 2026 investor deadline already passed.
DEFT Stock Metrics
| Metric | Value |
|---|---|
| Ticker | NASDAQ: DEFT / TSXV/NEO: DEFI.NE (Canada) |
| Price (July 6, 2026 close) | $0.53 |
| Market Cap | ~$206 million |
| 52-Week Range | $0.47 – $3.59 |
| P/E Ratio (TTM) | 6.66 |
| EPS (TTM) | $0.08 |
| Average Volume | ~4.66 million shares |
| Headquarters | Toronto, Canada |
| Founded / Renamed | Incorporated 1986; renamed from Valour Inc. in July 2023 |
What Does DeFi Technologies Do?
DeFi Technologies operates as a holding company bridging traditional capital markets and decentralized finance, built around several distinct business lines:
- Valour Inc. — the company’s flagship subsidiary, issuing exchange-traded products (ETPs) that give investors regulated exposure to individual digital assets or baskets of them. Valour generated $3.3 million in management, staking, and lending income in Q1 2026 on average assets under management of $533.6 million.
- Stillman Digital — a trading desk focused on OTC liquidity, arbitrage, and market-making across digital assets, contributing $2.9 million in trading commissions in Q1 2026.
- DeFi Ventures — the company’s early-stage investment arm, backing companies, protocols, and foundations in the digital asset space.
- Reflexivity Research — an in-house research unit producing digital asset market analysis.
Q1 2026 and FY2025 Financial Performance
DeFi Technologies’ most recent quarterly results show a company generating real, growing revenue despite its depressed share price:
- Q1 2026: Revenue of $11.2 million, core operating revenue of $6.3 million, net income of $4.9 million, and total operating expenses of $11.4 million. The company held approximately $156 million in cash, stablecoins, digital asset treasury, and venture holdings as of March 31, 2026, with positive working capital of $47.3 million — a reversal from negative $5.1 million at the end of 2025.
- FY2025: Record annual revenue of $99.1 million and net income of $62.7 million, with average AUM of $809.9 million across Valour’s ETP lineup. Operating expenses fell 14% year-over-year to $52.6 million, while Valour’s management fees grew 51% to $9.7 million and Stillman’s trading commissions added $9.6 million in its first full year post-acquisition.
Why Has DEFT Stock Fallen?
Despite record revenue, DEFT shares have dropped roughly 85% from their 52-week high. Several factors explain the gap between business performance and stock price:
- Broader crypto-equity selloff: Crypto-adjacent stocks have traded closely with digital asset prices throughout 2026, and a pullback in the underlying market has weighed on sentiment toward companies with balance sheets tied to digital assets.
- Nasdaq listing compliance risk: In March 2026, Nasdaq notified the company that its share price had closed below the $1.00 minimum bid price requirement for 30 consecutive trading days, a violation of Nasdaq Listing Rules. Prolonged non-compliance can eventually lead to delisting proceedings if not cured.
- Ongoing securities litigation: DeFi Technologies is facing a securities class action, with law firms including Rosen Law Firm and Faruqi & Faruqi soliciting investors ahead of a January 30, 2026 deadline. Unresolved litigation tends to depress valuation multiples independent of underlying financial performance.
- Analyst price target reductions: Multiple analysts lowered price targets on DEFT in the first half of 2026, including cuts from B. Riley (to $0.90) and Benchmark (to $2.00), reflecting caution despite the company’s revenue growth.
What Could Happen Next
- Bull case: If DEFT regains Nasdaq compliance and digital asset markets recover, continued AUM growth at Valour and expanding Stillman trading volumes could re-rate the stock closer to its earnings power, given a trailing P/E under 7.
- Bear case: Continued share price weakness could trigger a reverse stock split to preserve Nasdaq listing, or in a worst case, a move to the OTC markets if compliance isn’t restored within Nasdaq’s cure period.
- Base case: The stock continues trading in a low-dollar range tied closely to broader crypto market sentiment, with quarterly earnings reports acting as the primary near-term catalysts.
DEFT vs. Other Crypto-Exposure Stocks
| Company | Ticker | Business Focus |
|---|---|---|
| DeFi Technologies | NASDAQ: DEFT | Digital asset ETPs, OTC trading, venture investing |
| Coinbase Global | NASDAQ: COIN | Crypto exchange and custody |
| Strategy (MicroStrategy) | NASDAQ: MSTR | Bitcoin treasury holding company |
| Hut 8 | NASDAQ: HUT | Bitcoin mining and digital infrastructure |
| Sol Strategies | CSE: HODL | Solana-focused treasury and staking |
How to Buy DEFT Stock
DEFT is a common stock, not a token, so it can’t be purchased on crypto exchanges. It trades on Nasdaq in the US (DEFT) and on the NEO Exchange in Canada (DEFI.NE), and is accessible through most standard brokerages, including Robinhood, Fidelity, Charles Schwab, Interactive Brokers, and Canadian brokerages for the NEO-listed shares. As with any equity, investors should confirm order type and check for any temporary trading halts related to Nasdaq’s compliance review before placing trades.
Related Reading
- Bitcoin Price
- Crypto Market Today
- What Is Blockchain
