The Tip Desk

DeFi Development Corp.

Company Stats

Market Cap
$166.5M
as of Sep 30, 2026
Shares Outstanding
31.0M
Free Float
66.8%

Income Statement

Revenue
$11.4M
Operating Income
-$36.4M
Net Income
-$73.8M
EBITDA
-$35.4M
Non-cash Impairment
$50,500
Revenue Growth, 3Y
74.3%
FCF Margin, 3Y Avg
-117.9%
FCF Margin, Worst Year
-157.8%

Cash Flow

Free Cash Flow
-$18.0M
FCF Yield
-10.8%
Owner FCF Yield
-11.8%

Balance Sheet

Total Debt
$127.5M

Returns & Capital

Share Repurchases
$11.5M
SBC, 3Y Avg
$1.0M

Cash Flow by Year

YearRevenueFCFMargin
FY2025$11.4M-$18.0M-157.8%
FY2024$2.1M-$2.4M-116.2%
FY2023$2.0M-$1.6M-79.7%
FY2022$2.2M-$1.0M-47.6%

Annual filing data through FY ended December 31, 2025; shares and float as of November 4, 2026. Yields and enterprise value use the calculated market cap above, at its as-of date. Ratios are our calculations from reported figures.

Earnings

Other Coverage