DeFi Development Q2 revenue rises on digital asset treasury growth
DFDV•Outlook
- Company expects Q3 cost base to decline due to operating efficiencies
- DeFi Development Corp reaffirms long-term target of 1.0 SPS by December 2028
Revenue drivers
- Digital asset treasury revenue — Q2 digital asset treasury revenue rose 170% yr/yr to $3.26 mln, driving total revenue growth
- Operating efficiencies — Co announced efficiencies expected to lower Q3 cost base, with further reductions anticipated
- Capital structure simplification — Co repurchased $3.5 mln in convertible notes since its last shareholder update at a 35% discount and continued simplifying its capital structure and onchain strategy
Key details and analyst coverage
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|---|---|---|
| Q2 Revenue | $3.31 mln |
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell".
The average consensus recommendation for the financial technology (fintech) peer group is "buy".
Wall Street's median 12-month price target for DeFi Development Corp (Pre-Reincorporation) is $5.85, about 105.3% above its August 11 closing price of $2.85.
