Defi Development vs Nakamoto
Defi Development is the larger business, with $11.4m of revenue in fiscal 2025 against $1.8m for Nakamoto (6.3 times as much). Defi Development grew faster (442.3% against -33.0%). Defi Development kept more of each dollar of sales as profit: a net margin of -648.1% against -2867.6%.
| Latest fiscal year | Defi DevelopmentDFDV, 2025 | NakamotoNAKA, 2025 |
|---|---|---|
| Revenue | $11.4m | $1.8m |
| Revenue growth | 442.3% | -33.0% |
| Net income | −$73.8m | −$52.2m |
| Operating margin | -319.7% | — |
| Net margin | -648.1% | -2867.6% |
| Return on equity | -143.6% | -20.2% |
| Free cash flow | −$18.0m | −$23.5m |
| Cash | $5.9m | $21.1m |
| Total debt | $127m | — |
| Debt to equity | 128.4% | — |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | $11.5m | $320,404 |
| Employees | 16 | 65 |
| Market value | $92.4m | $99.1m |
| Price vs our value range | — | — |
| Moat score | — | — |
| Insider trades, 12 months | 12 buys, 0 sales | 12 buys, 1 sales |