The company said that as previously announced there will be a delay in the filing of its audited annual financial statements.
- The delay in filing annual results does not relate to any disagreement with its auditors, or any issues with the company’s financial statements, DeFi said.
- DEFT also swung to profit as it reported preliminary net income of $62.7 million, shifting from a net loss of $27.6 million in the prior year.
DeFi Technologies (DEFT) shares rocketed 32% in Tuesday’s extended hours of trading after it reported preliminary unaudited revenue of $99.1 million, a 215% increase in annual revenue, compared to $31.4 million in fiscal 2024.
It also swung to profit as it reported preliminary net income of $62.7 million, a $90.3 million improvement in net income year-over-year, shifting from a net loss of $27.6 million in the prior year, the company said in a statement.
“These preliminary results reflect the strength of the business model we have built. Valour continued to scale its global ETP platform with more than 100 listed products and strong inflows throughout the year. Stillman Digital delivered its first full year of contribution and further strengthened the institutional layer of our platform,” said Johan Wattenström, Chief Executive Officer of DeFi Technologies.
Delay In Reports
The company said that there will be a delay in the filing of its audited annual financial statements, management’s discussion and analysis, and related CEO and CFO certifications for the year ended December 31, 2025.
The delay does not relate to any disagreement with its auditors, any issues with the company’s financial statements, or any identified weakness in the company’s internal controls over financial reporting, but from the delay in receiving the SOC 2 Type 2 report, which is an independent, auditor-verified assessment report, from a third-party vendor, according to a statement.
Retail Reaction
Retail sentiment around DEFT trended in ‘extremely bullish’ territory amid ‘high’ message volume.
Shares in the company are down 33% so far this year.
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