DeFi Technologies Inc. Announces Record 2024 Financial Results: Adjusted Revenues of C$204.4 million (US$144.8 million), Adjusted EBITDA of $116.1 million (US$80.4 million) and Adjusted Net Income of C$115.07 million (US$84 million) and Notable Strat

Adjusted Revenues, Adjusted EBITDA and Adjusted Net Income: DeFi Technologies recorded Adjusted Revenues of C$42.6 million (approximately US$31.1 million) and C$204.4 million (approximately US$144.8 million - annual) for the three and twelve months period ended December 31, 2024 and Adjusted Net Income of C$19.1 million (approximately US$13.9 million) and C$115.07 million (approximately US$84 million) for three and twelve months ended December 31, 2024. The Company also reports Adjusted EBITDA of C$20.08 million (US$14.6 million) and C$116.1 million (US$80.3 million) for the three and twelve months ended December 31, 2024, reflecting its strong operational performance and robust revenue growth..

Substantial Growth in AUM: AUM grew by 132% since December 31, 2023, to approximately C$1.18 billion (US$819 million) as of December 31, 2024, driven by favorable market conditions, new product launches, and strategic corporate actions that enhanced trading volumes and overall financial performance.

ETF/Index and Institutional Recognition: DeFi Technologies has been included in several prominent indices and institutional investment vehicles, including the MVIS Global Digital Assets Equity Index, VanEck Digital Transformation ETF, MSCI Canada Small Cap Index, Bitwise, Vanguard, and Melanion Capital—reflecting increasing institutional recognition of the Company's performance, strategic direction, and role in the evolving digital asset ecosystem.

2025 Outlook: Looking ahead, based on the current performance of its asset management business and prevailing market conditions, the Company forecasts annualized revenue of approximately C$227.2 million (US$159.9 million) for 2025. Continued growth in AUM may result in proportional increases in revenue over time.

TORONTO , March 31, 2025 /PRNewswire/ - DeFi Technologies Inc. (the "Company" or "DeFi Technologies") (CBOE CA: DEFI) (GR: R9B) (OTC:DEFTF), a financial technology company focused on the convergence of traditional capital markets with the world of decentralised finance ("DeFi"), announces its financial performance for the three and twelve months ended December 31, 2024 (all amounts in Canadian dollars, unless otherwise stated).

Financial Highlights

Adjusted Revenue: Adjusted Revenues of C$42.6 million (approximately US$31.1 million - Q4) and C$204.3 million (approximately US$144.8 million - annual) for the three and twelve months period ended December 31, 2024

Adjusted Net Income: Adjusted Net Income of C$19.1 million (approximately US$13.9 million) and C$115.07 million (approximately US$84 million) for three and twelve months ended December 31, 2024, reflecting robust operational performance.

Adjusted EBITDA: Adjusted EBITDA of C$20.08 million (US$14.7 million) and C$116.1 million (US$80.4 million) for the three and twelve months ended December 31, 2024.

Valour Staking/Lending & Management Fees: In Q4 2024, Valour generated staking and lending income of C$12.8 million (US$9.1 million) and management fees of C$2.9 million (US$2.1 million). For the fiscal year ended 2024 Valour generated staking and lending income of C$35.7 million (US$25.5 million) and management fees of C$8.8 million (US$6.3 million).

DeFi Alpha Performance: For the twelve months ended December 31, 2024, DeFi Alpha generated C$132.1 million (US$96.7 million) with zero losses to date.

Stillman Digital: For the three months ended December 31, 2024, Stillman Digital generated trading commissions of C$2.9 million (US$2.1 million) in revenue. Stillman Digital was acquired in October 2024.

Reflexivity Research: In Q4 2024, Reflexivity Research generated research revenues of C$861,241 (US$615,964) for the three months ended December 31, 2024, and C$2.0 million (US$1.4 million) for the twelve months ended December 31, 2024

Cash and Treasury Position

Cash Balance: As of December 31, 2024, cash balance of approximately C$22.4 million (US$16.7 million), up from C$6.7 million (US$4.2 million) on December 31, 2023.

Treasury Holdings: As of December 31, 2024, the Company's holdings included 208.8 BTC, 121 ETH, 586,683 ADA, 131,616 DOT, 14,375 SOL, 491 UNI, 433,322 AVAX and 1,707,703 CORE tokens, totaling approximately C$58.9 million (US$40.7 million).

Venture Portfolio: Investments were valued at C$53.7 million (US$37.3 million) as of December 31, 2024, up from C$43.5 million (US$33.2 million) as of December 31, 2024.

Total Value of Cash, Treasury, and Venture Portfolio: C$135 million (US$93.8 million) as of December 31, 2024.

For the latest update on cash and digital asset treasury holdings as of February 28, 2025, see here.

Substantial AUM Growth

Valour's ETP business reported assets under management (AUM) of approximately C$1.18 billion (US$819 million) as of December 31, 2024, representing a 132% increase since December 31, 2023. This growth was driven by favorable market conditions, new product launches, and strategic corporate actions that boosted trading volumes and enhanced overall financial performance.

Q4 Strategic and Business Developments

Acquisitions and Partnerships:

DeFi Technologies completed the acquisition of Stillman Digital Inc. and Stillman Digital Bermuda Ltd. (collectively doing business as "Stillman Digital"), a leading OTC desk and digital asset liquidity provider with over US$15 billion in trade volume since 2021, with US$5 billion of that occurring in Q2 2024 alone.

Stillman Digital announces liquidity provision partnership with Finery Markets, a leading non-custodial crypto ECN and the provider of a SaaS trading platform for institutions.

DeFi Technologies announced the upcoming launch of SolFi Technologies to expand shareholder exposure to the Solana (SOL) ecosystem.

DeFi Technologies announced the upcoming launch of CoreFi Strategy, a MicroStrategy inspired approach for amplifying Bitcoin returns with CORE.

DeFi Technologies signed a letter of intent to acquire a majority stake in Neuronomics AG, an AI-driven Swiss asset management firm.

Reflexivity hosted a successful Crypto Investor Day in New York City, with moderation by Anthony Pompliano and sponsorship from Coinbase, Ledger, Copper, 3iQ, and more.

ETPs and Geographic Expansion

Valour strengthened Nordic Market Strategy with Transfer of Crypto ETPs to Spotlight Stock Market.

Valour signed a memorandum of understanding with SovFi and AsiaNext in Singapore to expand Valour's ETP offerings across APAC through this strategic partnership.

Valour signed a memorandum of understanding for the issuance and trading of exchange-traded products ("ETPs") on the Nairobi Securities Exchange.

Valour submitted its application for listing its ETPs on the Dubai Financial Market.

Valour expands offerings with first-ever Valour Bittensor (TAO) and Dogecoin (DOGE) ETP in the Nordics on Spotlight Stock Market.

Valour announced the mega launch of 20 new digital asset ETPs on Spotlight Stock Market.

Valour Digital Securities Limited and The Hashgraph Group (THG) expanded access to Hedera HBAR ETP with Euronext listing.

Valour reported record monthly net inflows of C$56 Million (US$38.8 Million) in December 2024.

NASDAQ Listing Progress:

DeFi Technologies filed a Form 40-F with the SEC in connection with its application to list its common shares on The Nasdaq Stock Market.

Elimination of Valour Debt :

Valour substantially eliminated its outstanding debt in 2024, strengthening financial position for growth and expansion.

Comment from the CEO:

Olivier Roussy Newton, CEO of DeFi Technologies, stated, "2024 was a defining year for DeFi Technologies. We achieved our strongest financial performance to date, delivering Adjusted Revenues of C$204.3 million (US$144.8 million) and Adjusted Net Income of C$115.1 million (US$84 million)—results that position us among the few profitable public companies in the digital asset sector. These milestones reflect the strength of our business model, the operational discipline of our team, and the consistent execution of our long-term strategy.

Our AUM grew 132% year-over-year to C$1.18 billion (US$819 million), representing more than 900% growth from the market lows in late 2022. This expansion is a function of rising investor demand for regulated exposure to digital assets, as well as continued product innovation and distribution progress across our business lines.

Throughout the year, we enhanced and diversified our operations. The acquisition of Stillman Digital has expanded our institutional trading capabilities and laid the foundation for new business lines in foreign exchange, custody, and proprietary trading. DeFi Alpha delivered C$132.1 million (US$96.7 million) in returns with no losses—a key driver of our financial results. We also took our first step into AI-driven asset management through our majority investment in Neuronomics, reflecting our view that technology-led investment strategies will play an increasingly important role in the years ahead.

On the global front, we made important progress with our international expansion efforts. We announced joint ventures with AsiaNext and SovFi to bring Valour ETPs to the Asia-Pacific region, and signed a memorandum of understanding with the Nairobi Securities Exchange to develop digital asset products for the African market. These initiatives are actively progressing, and we are in ongoing discussions related to further expansion in other strategic regions.

We continue to operate with focus, discipline, and a long-term perspective. Our team remains committed to building a business that is resilient, scalable, and positioned to adapt in a dynamic market environment. Many of the initiatives launched in 2024 were developed and executed with agility, and we believe our ability to stay responsive while thinking strategically is a competitive strength.

While 2024 marked our strongest year to date, we do not view it as a high-water mark. We are focused on the next phase—scaling our existing business lines, launching new offerings, and thoughtfully pursuing opportunities that complement and strengthen our overall business. With a healthy balance sheet, no debt, and a growing portfolio of high-conviction businesses, DeFi Technologies is well-positioned to continue delivering long-term value to our shareholders as the digital asset landscape matures."

Outlook for 2025

The outlooks for each business segment of the Company that follows supersedes all prior financial outlook statements made by the Company, constitutes forward-looking information within the meaning of applicable securities laws, and is based on a number of assumptions and subject to a number of risks. Actual results could vary materially as a result of numerous factors, including certain risk factors, many of which are beyond the Company's control. Please see "Cautionary note regarding forward-looking information" and "Financial Outlook Assumptions" below for more information.

Asset Management Outlook for 2025

The Company has experienced substantial revenue growth since Q1 2024, driven by increased investor activity and broader market momentum. Valour's ETPs have seen more than 900% increase in AUM since the market lows of late 2022, with continued growth in trading volumes. As of December 31, 2024, Valour's ETP business reported approximately C$1.18 billion (US$819 million) in AUM, representing a 132% increase from December 31, 2023. This growth has been supported by favorable market conditions, the launch of new ETPs, and strategic corporate initiatives that have boosted both trading activity and overall financial performance.

Revenue from staking and lending, management fees, and mark-to-market changes in digital assets and ETP payables has remained closely correlated with both the level of capital inflow into Valour's products and the performance of the underlying digital assets, which continued to appreciate through the end of 2024. Additionally, Valour continues to seek and optimize revenue generating opportunities of its digital asset holdings. Based on current performance, digital asset price levels and market trends, the Company's annualized revenue for 2025 is forecasted at approximately C$227.2 million (US$159.9 million). Continued growth in AUM may lead to proportional increases in revenue going forward.

Valour's Global Expansion and Strategic Market Development

Valour is making significant strides in expanding its global footprint, solidifying its position as a leader in the regulated digital asset space. With over 60 ETPs now listed across European and United Kingdom exchanges, Valour plans to increase its total ETP listings to 100 products by the end of 2025, including new offerings such as leveraged and warrant products. This expansion not only enhances Valour's product portfolio but also strengthens its ability to meet the growing demand for regulated digital asset products.

As Valour continues to diversify and broaden its ...