$DEFT

Defi Technologies, Inc.

CIK:0001888274|SEC Filings

Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($)	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Revenues
Staking and lending income	$ 13,072,141	$ 13,014,797
Management fees	9,696,992	6,443,983
Trading commissions	9,579,010	2,106,286
Research revenue	533,000	1,433,378
Advisory revenue	287,558
Revenues excluding realized and net change in unrealized gains (losses)	33,168,701	22,998,444
Realized and net change in unrealized (loss) gain on digital assets	(233,989,493)	252,040,373
Realized and net change in unrealized (loss) gain on equity investments at FVTPL	(51,007,843)	108,915,688
Realized and net change in unrealized gain (loss) on ETP payables	350,965,104	(352,528,754)
Revenues from realized and net change in unrealized gains (losses)	65,967,768	8,427,307
Total revenues	99,136,469	31,425,751
Operating expenses
Operating, general and administration	34,219,133	36,735,665
Share based payments	13,210,103	19,249,685
Depreciation - equipment	1,666	5,990
Amortization - right-of-use assets	207,328
Amortization - intangibles	1,331,581	1,543,995
Fees and commissions	6,200,681	4,107,102
Foreign exchange (gain) loss	(2,558,519)	(321,322)
Total operating expenses	52,611,973	61,321,115
Operating income (loss)	46,524,496	(29,895,364)
Realized (loss) gain on investments	(419,093)	112,984
Unrealized (loss) gain on investments	(16,501,202)	7,908,831
Interest income	542,622	4,537
Interest recovery (expense)	773,244	(2,824,092)
Financing expense	(4,677,123)
Gain on deconsolidation	583,966
Loss on investment in associate	(75,506)
Change in fair value of warrant liability	39,595,879
Bad debt expense	(726,240)	(216,635)
Impairment loss	(2,077,585)	(3,622,456)
Total other (expenses) income	17,018,962	1,363,169
Net income (loss) for the year before taxes	63,543,458	(28,532,195)
Current income taxes	1,137,731
Net income (loss) for the year after taxes	62,405,727	(28,532,195)
Other comprehensive income Cumulative translation adjustment	294,045	915,334
Net income (loss) and comprehensive income (loss) for the year	62,699,772	(27,616,861)
Net income (loss) attributed to:
Owners of the parent	62,405,727	(28,532,195)
Non-controlling interests
Net income (loss) attributed	62,405,727	(28,532,195)
Net income (loss) and comprehensive income (loss) attributed to:
Owners of the parent	62,772,109	(27,616,861)
Non-controlling interests	(72,337)
Total, Net income (loss) and comprehensive income (loss) attributed	$ 62,699,772	$ (27,616,861)
Income (loss) per share
Basic (in Dollars per share)	$ 0.18	$ (0.1)
Diluted (in Dollars per share)	$ 0.17	$ (0.1)
Weighted average number of shares outstanding:
Basic (in Shares)	344,919,433	295,591,423
Diluted (in Shares)	377,532,673	295,591,423

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
Consolidated Statements of Cash Flows - USD ($)	Dec. 31, 2025	Dec. 31, 2024
Cash (used in) provided by operations:
Net income (loss) for the year after taxes	$ 62,405,727	$ (28,532,195)
Adjustments to reconcile net (loss) income to cash (used in) operating activities:
Share-based payments	13,210,103	19,249,685
Impairment loss	2,077,585	3,622,456
Interest expense		2,824,092
Depreciation - equipment	1,666	5,990
Amortization - right-of-use asset	207,328
Amortization - Intangible asset	1,331,581	1,543,995
Realized loss on investments, net	419,093	(112,984)
Unrealized gain on investments, net	16,501,202	(7,908,831)
Realized and net change in unrealized (loss) gain on digital assets	233,989,493	(252,040,373)
Realized and net change in unrealized gain (loss) on ETP payables	(350,965,104)	352,528,754
Realized and net change in unrealized (loss) gain on equity investments at FVTPL	51,007,843	(108,915,688)
Staking and lending income	(13,072,141)	(13,014,797)
Management fee revenue	(9,696,992)	(6,443,983)
Non-cash trading fees	1,532,613	2,241,389
Share issuance costs expensed	4,695,578
Change in fair value of warrant liability	(39,595,879)
Lease interest expense	92,080
Gain on deconsolidation	(583,966)
Loss on investment in associate	75,506
Unrealized loss on foreign exchange	(638,524)	2,970,646
Total adjustments to reconcile net (loss) income	(27,005,208)	(31,981,844)
Adjustment for:
Purchase of digital assets	(273,427,760)	(401,118,676)
Disposal of digital assets	87,878,518	514,217,138
Purchase of equity investments		(173,814,795)
Disposal of equity investments	71,685,819
Purchase of investments	(5,795,583)	(993,141)
Disposal of investments		553,025
Treasury shares	3,000,000	(3,197,533)
Change in client cash deposit	5,050,093	803,102
Change in prepaid expenses and deposits	(7,858,323)	(615,403)
Change in accounts payable and accrued liabilities	4,102,381	(3,416,856)
Change in trading liabilities	9,013,265	4,939,553
Change in deferred revenue		(257,868)
Net cash (used in) operating activities	(133,356,798)	(94,883,298)
Investing activities
Net cash (paid for) received from acquisition of subsidiaries	(558,718)	10,413,228
Equipment purchases	(1,563)
Net cash (used in) provided by investing activities	(560,281)	10,413,228
Financing activities
Proceeds from ETP holders	724,966,299	707,144,638
Payments to ETP holders	(614,811,860)	(582,563,761)
Loan proceeds	2,742,229
Loan repaid	(2,502,103)	(30,945,732)
Proceeds from investments	358,992
Proceeds from option exercises	8,303,445	708,204
Proceeds from exercise of warrants	529,347	3,753,648
NCIB	(2,769,629)	(3,166,609)
Proceeds from private placement	100,000,001
Share issuance costs	(8,888,366)
Lease payments	(198,774)
Net cash provided by financing activities	207,729,581	94,930,388
Effect of exchange rate changes on cash and cash equivalents	1,490,063	384,951
Change in cash and cash equivalents	75,302,565	10,845,269
Cash, beginning of year	15,931,525	5,086,256
Cash and cash equivalents, end of year	$ 91,234,090	$ 15,931,525

Consolidated Statements of Financial Position - USD ($)	Dec. 31, 2025	Dec. 31, 2024	Jan. 01, 2024
Current
Cash and cash equivalents	$ 91,234,090	$ 15,931,525	$ 5,086,256
Client cash deposits	5,615,054	10,665,147
Prepaid expenses and other assets	9,596,921	1,797,724	1,182,321
Public investments, at fair value through profit and loss	272,520	778,085
Investment in associate	2,423,934
Digital assets	356,450,053	276,853,787	142,437,463
Digital assets loaned	87,326,227	38,618,758	204,466,643
Digital assets staked	38,986,741	240,031,645	23,078,945
Equity investments in digital assets funds, at FVTPL	75,411,946	126,317,000
Total current assets	667,317,486	710,993,671	376,251,628
Private investments, at fair value through profit and loss	29,372,628	37,348,081	32,717,095
Digital assets	62,367	334,710	486,649
Digital assets loaned	32,761,543
Equity investments in digital assets funds, at FVTPL	56,570,104	131,108,063
Equipment		103	6,094
Right-of-use asset	2,999,253
Intangible assets	400,208	1,649,270	2,660,625
Goodwill	35,080,194	37,157,779	35,080,194
Total assets	824,563,783	918,591,677	447,202,285
Current liabilities
Accounts payable and accrued liabilities	9,270,110	3,482,464	6,899,320
Loans payable	2,611,009	9,693,294	42,522,656
Trading liabilities	24,122,640	15,109,375
ETP holders payable	622,304,667	871,162,347	384,190,602
Warrant liability	13,599,316
Lease liability - current portion	553,973
Total current liabilities	672,461,715	899,447,480	433,612,578
Lease liability	2,548,215
Total non-current liabilities	2,548,215
Total liabilities	675,009,930	899,447,480	433,612,578
Share capital	222,974,359	153,294,666	128,886,879
Preferred shares	3,190,601	3,190,601	3,190,601
Share-based payments reserves	24,972,066	26,401,006	21,282,945
Accumulated other comprehensive income	(1,481,289)	(294,045)	(4,262,989)
Non-controlling interest			(3,562)
Deficit	(100,101,884)	(163,448,031)	(135,504,167)
Total equity	149,553,853	19,144,197	13,589,707
Total liabilities and equity	$ 824,563,783	$ 918,591,677	$ 447,202,285