DFDVDeFi Development
DeFi Development Corp. ("we," "our," "DeFi Dev," "us," or the "Company") is a publicly traded company focused on building and managing a digital asset treasury strategy centered on the Solana blockchain ecosystem. 10-K, Item 1
- Headquarters
- Boca Raton, FL
- CEO
- Joseph Mario Onorati
- Next results
- around Mar 29, 2027
DFDV and 9 peers, year by year
The 9 Crypto companies closest to DFDV in revenue over the last twelve months. Every number is from the 10-K and links to it in SEC's Inline XBRL viewer.
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| Company | Year | Revenue | Sales growth | Gross margin | Operating margin | Net margin | FCF margin | Return on equity | Debt / equity |
|---|---|---|---|---|---|---|---|---|---|
| DFDV DeFi Development | FY2025 | $11.4M | +442% | - | −319.7% | −648.1% | −157.8% | −74.3% | 1.28 |
| BTCS BTCS | FY2025 | $16.5M | +305% | 12.2% | - | −202.2% | −59.4% | −23.9% | - |
| HSDT Solana Company | FY2025 | $6.0M | +5.4% | 91.7% | n/m | −679.6% | - | −13.6% | - |
| DJT Trump Media & Technology Group | FY2025 | $3.7M | +1.8% | - | n/m | n/m | 385.2% | −43.2% | 0.58 |
| UPXI Upexi | FY2026 | $25.0M | n/m | 89.5% | −963.5% | −984.3% | −84.0% | n/m | n/m |
| TRON Tron Inc. | FY2025 | $4.7M | +10.0% | 25.3% | −53.1% | −354.6% | - | −8.0% | - |
| ASST Strive | FY2024 | $3.6M | +129% | - | −620.7% | −591.2% | −592.3% | −92.5% | - |
| SUIG SUI Group | FY2025 | $3.9M | +18.1% | - | n/m | n/m | - | −156.8% | - |
| NAKA Nakamoto | FY2025 | $1.8M | −33.0% | - | n/m | n/m | - | −10.2% | - |
| HYPD Hyperion DeFi | FY2025 | $813K | n/m | 62.7% | n/m | n/m | - | −110.4% | 0.39 |
Revenue, FY2022 to FY2025
Revenue as reported in the 10-K.| Company | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|
| DFDV Dec | $2.2M | $2.0M | $2.1M | $11.4M |
| BTCS Dec | $1.7M | $1.3M | $4.1M | $16.5M |
| HSDT Dec | $787K | $644K | $520K | $6.0M |
| DJT Dec | $1.5M | $4.1M | $3.6M | $3.7M |
| UPXI Jun | $23.1M | $36.4M | $26.0M | $15.8M |
| TRON Dec | $6.1M | $5.8M | $4.3M | $4.7M |
| ASST Dec | $343K | $277K | $3.6M | - |
| SUIG Dec | - | - | $3.3M | $3.9M |
| NAKA Dec | - | $3.8M | $2.7M | $1.8M |
| HYPD Dec | - | $4K | $57K | $813K |
| Peer median | $1.6M | $2.6M | $3.6M | $4.3M |
Sales growth, FY2022 to FY2025
Revenue against the fiscal year before.| Company | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|
| DFDV Dec | - | −6.9% | +4.8% | +442% |
| BTCS Dec | +39.5% | −20.8% | +204% | +305% |
| HSDT Dec | +57.8% | −22.2% | −21.3% | +5.4% |
| DJT Dec | - | +181% | −12.4% | +1.8% |
| UPXI Jun | +85.0% | +250% | −28.7% | −39.2% |
| TRON Dec | - | −5.2% | −25.2% | +10.0% |
| ASST Dec | −58.6% | −19.3% | +129% | - |
| SUIG Dec | - | - | - | +18.1% |
| NAKA Dec | - | - | −27.8% | −33.0% |
| HYPD Dec | - | - | n/m | n/m |
| Peer median | +48.7% | −12.2% | −21.3% | +5.4% |
Gross margin, FY2022 to FY2025
Gross profit / revenue.Operating margin, FY2022 to FY2025
Operating income / revenue.| Company | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|
| DFDV Dec | −80.0% | −170.0% | −143.0% | −319.7% |
| BTCS Dec | - | - | - | - |
| HSDT Dec | n/m | n/m | n/m | n/m |
| DJT Dec | n/m | −386.5% | n/m | n/m |
| UPXI Jun | −28.1% | −33.7% | −86.4% | −79.1% |
| TRON Dec | 5.9% | −35.4% | −100.5% | −53.1% |
| ASST Dec | −188.1% | n/m | −620.7% | - |
| SUIG Dec | - | - | 48.3% | n/m |
| NAKA Dec | - | −43.0% | −123.1% | n/m |
| HYPD Dec | - | n/m | n/m | n/m |
| Peer median | −28.1% | −39.2% | −100.5% | - |
Net margin, FY2022 to FY2025
Net income / revenue.| Company | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|
| DFDV Dec | −58.7% | −168.4% | −129.9% | −648.1% |
| BTCS Dec | −939.0% | 583.6% | −31.2% | −202.2% |
| HSDT Dec | n/m | n/m | n/m | −679.6% |
| DJT Dec | n/m | n/m | n/m | n/m |
| UPXI Jun | −8.9% | −48.0% | −91.0% | −86.5% |
| TRON Dec | 5.4% | −35.7% | −100.6% | −354.6% |
| ASST Dec | −188.1% | n/m | −591.2% | - |
| SUIG Dec | - | - | 35.4% | n/m |
| NAKA Dec | - | −42.9% | −133.0% | n/m |
| HYPD Dec | - | n/m | n/m | n/m |
| Peer median | −98.5% | −39.3% | −95.8% | −278.4% |
Free cash flow, FY2022 to FY2025
Cash from operations minus capital spending.| Company | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|
| DFDV Dec | −$1.0M | −$1.6M | −$2.4M | −$18.0M |
| BTCS Dec | −$782K | −$3.6M | −$3.5M | −$9.8M |
| HSDT Dec | −$14.3M | −$10.4M | −$11.0M | - |
| DJT Dec | −$24.3M | −$9.7M | −$66.0M | $14.2M |
| UPXI Jun | −$5.6M | −$735K | −$1.0M | −$8.8M |
| TRON Dec | - | - | - | - |
| ASST Dec | - | −$3.8M | −$21.6M | - |
| SUIG Dec | - | - | - | - |
| NAKA Dec | - | −$464K | −$3.1M | - |
| HYPD Dec | −$25.6M | −$26.7M | −$30.3M | - |
| Peer median | −$14.3M | −$3.8M | −$11.0M | −$8.8M |
FCF margin, FY2022 to FY2025
Free cash flow / revenue.| Company | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|
| DFDV Dec | −47.6% | −79.7% | −116.2% | −157.8% |
| BTCS Dec | −46.2% | −266.3% | −86.7% | −59.4% |
| HSDT Dec | n/m | n/m | n/m | - |
| DJT Dec | n/m | −235.7% | n/m | 385.2% |
| UPXI Jun | −24.4% | −2.0% | −4.0% | −55.7% |
| TRON Dec | - | - | - | - |
| ASST Dec | - | n/m | −592.3% | - |
| SUIG Dec | - | - | - | - |
| NAKA Dec | - | −12.3% | −113.5% | - |
| HYPD Dec | - | n/m | n/m | - |
| Peer median | - | −124.0% | −100.1% | −55.7% |
Return on equity, FY2022 to FY2025
Net income / shareholders' equity at the year end.| Company | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|
| DFDV Dec | n/m | −58.0% | −77.9% | −74.3% |
| BTCS Dec | −111.0% | 29.9% | −3.7% | −23.9% |
| HSDT Dec | −172.6% | n/m | n/m | −13.6% |
| DJT Dec | n/m | n/m | −43.9% | −43.2% |
| UPXI Jun | −7.1% | −62.8% | n/m | −15.2% |
| TRON Dec | n/m | −49.8% | −82.0% | −8.0% |
| ASST Dec | n/m | −30.7% | −92.5% | - |
| SUIG Dec | - | - | 5.9% | −156.8% |
| NAKA Dec | - | n/m | −140.9% | −10.2% |
| HYPD Dec | −162.5% | n/m | n/m | −110.4% |
| Peer median | −136.8% | −40.3% | −62.9% | −19.6% |
Debt / equity, FY2022 to FY2025
Total debt / shareholders' equity at the year end.EPS (diluted), FY2022 to FY2025
Diluted earnings per share, on today's share count after splits.| Company | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|
| DFDV Dec | −$0.21 | −$0.46 | −$0.28 | −$4.00 |
| BTCS Dec | −$1.25 | $0.45 | −$0.08 | −$1.00 |
| HSDT Dec | −$52.13 | −$14.56 | −$3282.26 | −$1.85 |
| DJT Dec | $0.58 | −$0.67 | −$2.36 | −$2.80 |
| UPXI Jun | −$8.60 | −$18.94 | −$23.03 | −$1.73 |
| TRON Dec | $0.05 | −$0.27 | −$0.37 | −$0.16 |
| ASST Dec | −$0.30 | −$1.85 | −$9.75 | - |
| SUIG Dec | - | - | $0.18 | −$6.59 |
| NAKA Dec | - | −$0.36 | −$0.67 | −$0.26 |
| HYPD Dec | −$0.83 | −$53.15 | −$59.81 | −$9.40 |
| Peer median | −$0.83 | −$1.26 | −$2.36 | −$1.79 |
Fiscal years are lined up as each company's 10-K names them; the month next to a ticker is when its year ends. Hover a number for the XBRL line items and the filing; click it to open the filing on sec.gov. "n/m" means not meaningful: equity below zero, or a base so close to zero that the ratio says nothing. The peer median leaves out DFDV and needs at least three peers with the number. P/E, P/S and P/FCF at each year end appear here once the site has daily prices. What the same companies write about AI, tariffs and more →
Work on DFDV in a spreadsheet:
Excel workbook (a sheet per section, ten years by column, charts, links to the filings) ·
CSV.
For a Google Sheet that stays up to date, paste =IMPORTDATA("https://tickdelta.com/company/DFDV/export.csv") into a cell.