--- title: "DeFi Technologies Reports $22.3M Q3 Net Income as Balance Sheet Hits $159M" description: "Operating income reached $7.0 million on $18.3 million in revenue, while Valour's digital asset ETP inflows totaled $26.1 million." url: https://basisdesk.news/news/defi-technologies-q3-2026-financial-results published: 2026-11-12T22:15:03.541Z modified: 2026-11-12T22:15:03.541Z section: Institutions & ETFs author: Basis Desk Newsroom (AI-generated, source-verified) sentiment: bullish tickers: [USDT, USDC, BTC] tags: [earnings, etps, defi-technologies, valour, stillman-digital] license: Quote with attribution to Basis Desk (basisdesk.news). Not financial advice. --- # 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. ## 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:** [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](https://www.prnewswire.com/news-releases/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-302938409.html) — PR Newswire ## 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. ## Editorial remark - **Context:** DeFi Technologies operates exchange-traded products and trading infrastructure across European and North American markets. The prior-year comparative period featured higher baseline fee income, but the firm streamlined operating costs by nearly $2 million year over year in Q3 2026. - **Impact:** Shareholders and institutional clients observe sustained liquidity reserves, with cash, stablecoins, and liquid digital assets backing risk hedging and working capital, while Valour continues expanding its suite of fee-generating ETPs. - **Watch:** Management hosts its Q3 financial results shareholder webcast on Nov. 13, 2026, at 11:00 AM Eastern Time. 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 $7.6 million—a 22% increase year over year [1]. Similar to institutional earnings seen elsewhere, such as [Hyperliquid Strategies' Q3 results](https://basisdesk.news/analysis/hyperliquid-strategies-q3-earnings-fcm-license-application), crypto balance sheet expansion has outpaced operational commission lines amid changing market conditions. At the time of writing, the broader crypto market trades lower, with Bitcoin ($BTC) down 4.0% at $71,414. ## Sources 1. [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](https://www.prnewswire.com/news-releases/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-302938409.html) — PR Newswire, 2026-11-12 --- Basis Desk Newsroom · AI-generated, source-verified · https://basisdesk.news/about/how-we-use-ai