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Institutions & ETFs · 1 min read

DeFi Technologies Reports $22.3M Q3 Net Income as Balance Sheet Hits $159M

Operating income reached $7.0 million on $18.3 million in revenue, while Valour's digital asset ETP inflows totaled $26.1 million.

Editorial oversight: Julian Mercer, Chief Editor
Bullish
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At a glance

What happened
DeFi Technologies reported $18.3 million in revenue and $22.3 million in net income for the third quarter of 2026 on Nov. 12.
Why it matters
Total liquid assets and investments reached $159.1 million, exceeding the company's recent public market equity capitalization.
Who is affected
DeFi Technologies public shareholders, Valour ETP investors, and institutional trading clients of Stillman Digital.
What's next
The company hosts its quarterly earnings conference call on Nov. 13, 2026, at 11:00 AM Eastern Time.
Primary source
PR Newswire: DeFi Technologies Inc. Announces Third Quarter 2026 Financial Results with Revenue of $18.3 Million, Operating Income of $7.0 Million, and Net Income of $22.3 Million

Key points

  • DeFi Technologies posted $22.3 million in Q3 net income and $7.0 million in operating income on $18.3 million in total revenue.
  • Balance sheet cash, stablecoins, digital assets, and investments totaled $159.1 million, with shareholders' equity at $165.8 million.
  • Valour generated $26.1 million in quarterly net inflows as end-of-quarter ETP assets under management rose to $643.7 million.

DeFi Technologies posted $22.3 million in net income for the third quarter ended Sept. 30, driven by investment revaluations and trading returns, alongside total revenue of $18.3 million 1. Operating income for the three-month period reached $7.0 million, compared to $9.0 million in the third quarter of 2025 1. Total operating expenses fell to $11.3 million from $13.2 million in the prior-year period, according to the company's financial release on Nov. 12 1.

The Nasdaq-listed capital markets firm held $159.1 million in aggregate balance sheet assets and investments as of Sept. 30 1. This pool includes $47.8 million in cash, $5.6 million in stablecoins $USDT and $USDC, and $48.2 million in digital asset treasury reserves 1. The firm also reported $20.0 million in Strategy preferred shares, $2.0 million in RWUSD, a $25.5 million private venture portfolio, and $10.0 million deployed into its Smart Crypto Fund 1. Consolidated shareholders' equity stood at $165.8 million 1.

Valour Inflows and Trading Divisions

Asset management subsidiary Valour closed the quarter with $643.7 million in assets under management (AUM), rising from $397.2 million at the end of June 1. Valour attracted $26.1 million in quarterly net inflows, generating $3.8 million combined across management fees, staking, and lending yields on average quarterly AUM of $492.8 million 1. Subsequent to the close of the quarter, Valour introduced eight new exchange-traded products, each carrying a 1.9% management fee, and established Valour Funds SPC 1.

Institutional execution division Stillman Digital supplied $2.2 million in quarterly trading commissions, bringing its nine-month total to $7.6 million—a 22% increase year over year 1. Similar to institutional earnings seen elsewhere, such as Hyperliquid Strategies' Q3 results, crypto balance sheet expansion has outpaced operational commission lines amid changing market conditions. At the time of writing, the broader crypto market trades lower, with Bitcoin ($BTC) down 4.0% at $71,414.

Sources

  1. [1] DeFi Technologies Inc. Announces Third Quarter 2026 Financial Results with Revenue of $18.3 Million, Operating Income of $7.0 Million, and Net Income of $22.3 Million — PR Newswire, November 12, 2026

Written by Basis Desk's newsroom system from the primary sources above and machine-verified against them before publication. Market figures marked "at the time of writing" come from live exchange data. Report an error: corrections@basisdesk.news · corrections policy.

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