DeFi Technologies Inc. Q3 FY2025 Earnings Call

· Earnings call transcript and AI-powered summary

DeFi Technologies Q3 2025 Earnings Summary

  • Assets Under Management (AUM):
    • Q3 AUM ended at USD 989.1 million, a new record for the company.
    • Q3 average AUM: USD 950.7 million, up from USD 760.2 million in Q2 and USD 789 million in Q1.
    • Q3 net inflows: USD 38.8 million; year-to-date inflows: USD 116.2 million.
  • Financial Performance:
    • Q3 revenue: USD 22.5 million; 9-month revenue: USD 80 million.
    • Q3 operating income: USD 9 million; net income after tax: USD 3.9 million.
    • Staking yield: 3.1% in Q3, down from 3.6% in Q2 due to reduced protocol rewards.
    • Management fee yield: 1.2%, up from 1.1% due to new products. No fees on Bitcoin and Ethereum products.
  • Guidance Update:
    • 2025 revenue guidance adjusted to USD 116.6 million (core), down from prior USD 218.6 million (which included USD 102 million from DeFi Alpha opportunities).
    • DeFi Alpha delays attributed to digital asset treasury (DAT) company competition and limited arbitrage opportunities.
  • Capital Position:
    • Completed a USD 100 million equity raise in September 2025.

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Curtis Schlaufman: Hey, everyone. Thanks for joining. Let's give a few moments for rest of the folks to filter in. We'll wait until 9:01 to get started. But in the meantime, I'll go ahead and remind everyone that this call is being recorded, and there will be some forward-looking statements. And then -- this is not investment advice. We'll start the call with an overview of our Q3 financials from Paul Bozoki. We'll then move on to a statement from our current CEO, Olivier Roussy Newton, followed by a follow-up from Johan Wattenstrom, our incoming CEO; and then some growth initiatives that are currently in progress and updates from our President, Andrew Forson. So let's give some everybody about another 30 seconds, and then I'll hand it over to Paul. Well, the Q&A is also open to folks. So after the presentation and after comments, we'll go through Q&A from retail and then open it up to -- and bring on our analysts to ask questions and then wrap up the call. So joining us today, as you can see on the screen, my name is Curtis Schlaufman, VP of Marketing and Comms. We have our current CEO, Olivier Roussy Newton; incoming CEO, Johan Wattenstrom; CFO, Paul Bozoki; and President, Andrew Forson. With that, I'll hand it on over to Paul to give an overview of the quarterly financials. Paul Bozoki: Thank you, Curtis. Good afternoon, everybody. Starting with an overview of our AUM. DeFi closed September 30 with AUM of USD 989.1 million. Q3 average AUM increased to $950.7 million from $

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