DFDV Research | Milton Maxwell

DFDV

DeFi Development Corp.

5.27

+0.08+1.54%

Dec 16, 4:00:02 PM EST

Upcoming Earnings

Report date

-/-

Earnings Call Transcripts

This Quarter (Q4 '25)

No earnings call transcript available yet

Last Quarter (Q3 '25)

No earnings call transcript available

Key Stats

Market Cap

165.48M

P/E (TTM)

1.47

Basic EPS (TTM)

3.58

Dividend Yield

Recent Filings

10-Q

11/19/25Nov 19, 2025

8-K

11/13/25Nov 13, 2025

8-K

Warrant dividend declared

10/8/25Oct 8, 2025

DeFi Development Corp. declared a warrant dividend on October 8, 2025, distributing one warrant for every ten common shares held as of October 23, 2025, with delivery around October 27, 2025. Convertible noteholders receive equivalent warrants without conversion adjustments. Each warrant allows buying one share at $22.50 until January 21, 2028, potentially yielding $73.5 million if fully exercised for SOL acquisitions and working capital. Warrants will trade on Nasdaq as DFDVW. Early expiration looms if stock hits $27.00 VWAP over 20 of 30 days.

8-K

SOL treasury expands post-raise

8/28/25Aug 28, 2025

DeFi Development Corp. closed a private placement on August 28, 2025, issuing 4.2 million shares and pre-funded warrants for 5.8 million more at $12.50 each, raising funds to buy 407,247 SOL at $188.98 per token. This boosted holdings to 1.83 million SOL, worth $371 million, with SOL per share at 0.0864. Over $40 million remains for future buys. Yet volatility in SOL prices poses impairment risks.

8-K

DeFi raises $125M for Solana treasury

8/26/25Aug 26, 2025

DeFi Development Corp. inked subscription agreements on August 24, 2025, for a $125 million private placement of 4.2 million common shares at $12.50 each and pre-funded warrants for 5.8 million shares, closing August 28 amid customary conditions. Roughly $92.5 million arrives in cash, $32.5 million in locked Solana, fueling SOL acquisitions and treasury expansion to boost Solana per share. This accretive move, backed by controlling stockholder approval, locks in discounts while barring new issuances for 15 days post-registration. Yet dilution looms large.

About

DeFi Development Corp. is an AI-powered online platform that connects the commercial real estate industry by providing data and software subscriptions as well as value-add services to multifamily and commercial property professionals. Its technology platform that connects commercial mortgage and small business borrowers looking for debt to refinance, build, or buy commercial property including apartment buildings to commercial property lenders. Also, the company builds its treasury around Solana (SOL) by acquiring and holding substantial amounts of SOL long-term. It serves borrowers, including owners, operators, and developers of commercial real estate, and small business owners, as well as lenders that include banks, credit unions, REITs, multifamily lenders, debt funds, commercial mortgage-backed securities lenders, and small business administration lenders. The company was formerly known as Janover Inc. and changed its name to DeFi Development Corp. in April 2025. DeFi Development Corp. was founded in 2018 and is headquartered in Boca Raton, Florida.

CEO

Mr. Joseph Mario Onorati

IPO

7/25/2023

Website

https://defidevcorp.com

Employees

Sector

Technology

Industry

Software - Infrastructure