Defi Technologies, Inc. is a US-listed company in the investment banking & brokerage industry. Its financial year ends in December.
Stock price today
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Third-party market data · may be delayed
Model estimate per share
~$1.0
Price-to-earnings vs peers
Base case. Range ~$1.0–$4.1. Earnings per share times peers' typical (harmonic-mean) price-to-earnings.
Price vs value
No Buy/Hold/Sell rating is issued: limited reported history: available models are shown without a Buy/Hold/Sell rating.
Defi Technologies, Inc. valuation: adjust assumptions and compare models →
Who’s trading
What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.
- Funds32 adding, 38 cuttingOf 5 active managers that changed their stake, 3 added; quarter to June 30, 2026Fund buyers and sellers
The Fundamentalytics view
Defi Technologies, Inc.'s trailing-twelve-month revenue grew 215.5% year on year, with a free-cash-flow margin of -134.5%.
Current signal Net margin expanding: TTM net margin reached 62.9%, up 153.7pp year over year.
Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.
Highlights
How we pick theseStrengths
- Fast growth. Revenue grew 215.5% over the last 12 months.
- High operating margin. 46.9% of revenue is left as operating profit.
- Margins widening. Operating margin is up 142.1 points on a year ago.
- Net cash. Cash exceeds long-term debt by $0.1bn.
Things to watch
- Burning cash. Free cash flow was -134.5% of revenue over the last 12 months.
- Share dilution. Diluted shares rose 27.7% in a year.
- Weak cash conversion. Free cash flow was -214% of net income over the last 12 months.
- Short interest rising. Shares sold short rose 29% in a month to 5.7% of tradable shares.
- Missing expectations. Earnings per share fell short of the consensus estimate in 3 of the last four quarters.
- Estimates being cut. Analysts' consensus for next year's earnings per share has fallen 120.8% over 90 days.
Latest results
- Earnings per share
- -$0.02 against an average estimate of -$0.03: beat by 19.4%
Price chart
- 1 day-4.1%
- 1 week-9.1%
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Third-party market data · may be delayed
At a glance
Profitability
- Revenue (TTM)
- $99.1M
- Operating margin
- 46.9%
- Net margin
- 62.9%
- EPS (TTM, diluted)
- $0.17
Growth
- Revenue growth
- +215.5%
- Share count change
- +27.7%
News & updates
Company announcements, filed results and changes that matter to shareholders.
No recent updates are available for DEFT from the sources we follow. See filings →
Valuation models
We value Defi Technologies, Inc. as an asset manager, broker or exchange, with every model that fits that kind of business. Cost of equity 9.5%: the 10-year Treasury yield (4.9%) plus a beta of 1 times a 4.5% equity risk premium.
| Model | Value per share | In the combined value? |
|---|---|---|
| Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. | ~$1.0 ~$2.0–$4.1 | Primary model, counts double |
| Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. | — | Does not apply: the model gives no positive value |
| Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. | — | Does not apply: return on equity is not positive |
| Price-to-book vs peers Book value per share times peers' typical (harmonic-mean) price-to-book. | ~$0.0 ~$0.4–$1.7 | Left out: out of range vs price (0.11x) |
| Dividend discount (two-stage) Dividends for five years at the growth the business can fund, then a steady payout and growth. | — | Does not apply: pays no regular dividend |
| Combined value Weighted average of the models that apply: the primary model (price-to-earnings vs peers) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. | ~$1.0 ~$1.0–$4.1 | 1 model |
Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Defi Technologies, Inc. with brokers, investment banks and exchanges in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.
Moat
Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Medium.
Forecasts and guidance
Analysts' consensus
| Fiscal year | EPS | Growth | Revenue | Growth |
|---|---|---|---|---|
| Current | −$0.08 | −282% | $50m | −64% |
| Next | −$0.01 | +87% | $72m | +45% |
Next year's EPS estimate has moved −120.8% in 90 days, across 3 analysts.
How the EPS forecast has moved
The consensus EPS forecast for the current fiscal year is +176.4% on 90 days ago. In the last 30 days, 0 analysts raised Defi Technologies, Inc.'s forecast and 2 cut it.
Average of analysts' published estimates (third-party data).
View chart data
| Period | Current fiscal year | Next fiscal year |
|---|---|---|
| 90 days ago | −$0.03 | $0.05 |
| 60 days ago | −$0.03 | $0.05 |
| 30 days ago | −$0.03 | $0.03 |
| 7 days ago | −$0.08 | $0.03 |
| Now | −$0.08 | −$0.01 |
Earnings against estimates
| Quarter to | Estimate | Actual | Surprise |
|---|---|---|---|
| Jun 2026 | −$0.03 | −$0.02 | +19.4% |
| Mar 2026 | −$0.01 | −$0.05 | −259.5% |
| Dec 2025 | $0.00 | −$0.07 | 0.0% |
| Sept 2025 | $0.08 | $0.01 | −83.2% |
Adjusted EPS as companies report it, against the average analyst estimate.
Positioning
- Short interest
- 5.7% of tradable shares
- Days to cover
- 9.04 at average volume
- Short interest, 1 month
- +29% to October 15, 2026
- Held by institutions
- 9% of shares
- Held by insiders
- 2.3% of shares
- Employees
- 26 full time
Share-price performance
Market data may be delayedPrice behaviour
- 52-week range
- Not enough history
- From 52-week high
- —
- vs 50-day average
- —
- vs 200-day average
- —
- Volatility (1 year)
- —
- Beta vs S&P 500
- —
Fundamentals
Financial statements
| Fiscal year | 2024 Dec 2024 | 2025 Dec 2025 |
|---|---|---|
| Income | ||
| Revenue | 31 | 99 |
| EBITDA | −28 | 48 |
| Operating income | −30 | 47 |
| Net income | −29 | 62 |
| Diluted EPS | −$0.10 | $0.17 |
| Growth (year on year) | ||
| Revenue | — | +215.5% |
| Margins | ||
| EBITDA margin | −90.2% | 48.3% |
| Operating margin | −95.1% | 46.9% |
| Net margin | −90.8% | 62.9% |
| Free-cash-flow margin | — | −134.5% |
| Cash flow | ||
| Cash from operations | −95 | −133 |
| Capital spending | — | 0 |
| Free cash flow | — | −133 |
| Stock-based pay | 19 | 13 |
| Free cash flow after stock pay | — | −147 |
| Balance sheet | ||
| Cash | 16 | 91 |
| Total debt | 0 | 0 |
| Net debt (negative = net cash) | −16 | −91 |
| Diluted shares | 296m | 378m |
Dividends, buybacks and capital spending
- Diluted share count
- +27.7%
- year over year
Competitors: side by side with peers
| Last 12 months unless stated | DEFT | SIEB | SOS | MATH | COHN | AXG | Median |
|---|---|---|---|---|---|---|---|
| Revenue, last 12 months | $99m | $105m | $154m | $37m | $314m | $28m | $1.9bn |
| Revenue growth, last 12 months | 215.5% | 21.6% | −33.3% | −16.7% | 126.4% | 895.0% | 20.8% |
| Revenue growth, 3-year average | — | 19.3% | — | — | 67.1% | — | 16.2% |
| Revenue growth, latest quarter | — | 109.6% | — | — | 16.1% | — | 17.4% |
| Gross margin | — | — | 1.5% | 41.4% | — | — | 3.6% |
| Operating margin | 46.9% | −2.3% | −63.9% | 3.6% | 22.1% | 0.1% | −1.2% |
| Operating margin, 3-year average | — | 12.0% | — | — | 8.6% | — | 9.4% |
| Net margin | 62.9% | −1.1% | −63.1% | 3.5% | 5.6% | −47.4% | 6.0% |
| Cash from operations / revenue | −134.5% | 14.7% | −159.8% | −40.0% | −2.2% | −54.7% | 6.8% |
| Free-cash-flow margin | −134.5% | 14.1% | −159.8% | −40.1% | −2.6% | −55.3% | 4.9% |
| Free-cash-flow margin, 3-year average | — | 13.2% | — | — | 1.0% | — | 16.8% |
| Stock pay / revenue | 13.3% | 1.7% | 4.6% | 8.8% | 6.7% | 11.5% | 4.8% |
| Change in share count | 27.7% | 1.2% | 432.8% | 12.5% | 6.4% | 674.4% | 1.5% |
Who owns it
Funds buying and selling- Reported value
- $14.7M
- Institutions reporting
- 97
- Shares held vs prior quarter
- ▲ 1.2%
- Positions opened / closed
- 10 / 16
| Manager | Value | Shares | Share of 13F value | Shares QoQ |
|---|---|---|---|---|
| Weiss Asset Management LP | $3.2M | 6.2M | 21.6% | ▼ 23.3% |
| Charles Schwab Investment Management Inc | $1.6M | 3.1M | 10.9% | ▼ 2.0% |
| Susquehanna International Group, LLP | $1.4M | 2.7M | 9.5% | ▲ 35.7% |
| Bank Of Montreal | $1.2M | 2.2M | 8.2% | ▼ 0.2% |
| American Century Companies Inc | $1.2M | 2.2M | 8.0% | ▲ 11.5% |
| Morgan Stanley | $951,751 | 1.9M | 6.5% | ▲ 1955.5% |
| Jane Street Group, LLC | $937,008 | 1.8M | 6.4% | ▲ 1013.8% |
| Cable Car Capital, LP | $676,518 | 1.3M | 4.6% | 0.0% |
| Swiss National Bank | $400,009 | 739K | 2.7% | ▲ 1.2% |
| Millennium Management LLC | $236,479 | 460K | 1.6% | New |
| Legal & General Group PLC | $184,900 | 341K | 1.3% | ▲ 7.7% |
| Group One Trading LLC | $172,586 | 336K | 1.2% | ▲ 622.5% |
From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Defi Technologies, Inc.'s complete shareholder register. Values are as reported by the filers ; 2 inconsistently scaled filing rows were excluded.
Insider trading activity
Full insider history and chartFrom insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.
Earnings dates and SEC filings
Data status
| Data | Last updated | Source |
|---|---|---|
| Share price | Exchange closing prices | |
| News and updates | Company releases and SEC 8-K filings | |
| Analyst estimates | Aggregated analyst estimates | |
| Valuation and scores | Our models, from the filed figures |
Defi Technologies, Inc. in brief
- What does Defi Technologies, Inc. do?
- Defi Technologies, Inc. is a US-listed company in the investment banking & brokerage industry. Its financial year ends in December.
- What is Defi Technologies, Inc.'s stock ticker?
- Defi Technologies, Inc. trades under the ticker DEFT on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
- What is Defi Technologies, Inc.'s revenue, and how fast is it growing?
- Over its most recent trailing twelve months, Defi Technologies, Inc. reported revenue of $99.1M, 215.5% higher than a year earlier, according to its SEC filings.
- What is Defi Technologies, Inc.'s free cash flow?
- Defi Technologies, Inc.'s free-cash-flow margin is -134.5% of revenue over the trailing twelve months.
- Who are Defi Technologies, Inc.'s largest institutional shareholders?
- By value reported in 13F filings for June 30, 2026, the largest reported holders are Weiss Asset Management LP, Charles Schwab Investment Management Inc and Susquehanna International Group, LLP. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
- Who are Defi Technologies, Inc.'s competitors?
- In our Investment Banking & Brokerage peer group, the companies closest to Defi Technologies, Inc. are Siebert Financial Corp, SOS Ltd, Metalpha Technology Holding Ltd, Cohen & Co Inc. and Solowin Holdings, Ltd. The side-by-side comparison below sets their revenue, margins and growth against Defi Technologies, Inc.'s.
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