DeFi Technologies Inc. announces financial results for Q3 2024: $DEFI (-10,15 %)
Fundamentally, the Group's figures are more than respectable
In contrast to many other crypto stocks, DeFi Technologies is still valued very favorably with a 2025 P/E ratio of 7 in view of its continued growth. In addition, the Group has a decent liquidity cushion and a listing on the US technology exchange Nasdaq could be imminent.
Total revenue, EBITDA and net income: DeFi Technologies reported total revenue of CAD 24.2 million (approx. USD 17.8 million ) and CAD 152.4 million (approx. USD 112.0 million ) for the three- and nine-month periods ended September 30, 2024, and net income of CAD 24.9 million (approx. USD 18.3 million ) and CAD 97.2 million (approx. USD 71.4 million ) for the three- and nine-month periods ended September 30, 2024. The Company also reports EBITDA of C$26.2 million ($19.3 million) and C$102.3 million ($75.2 million) for the three and nine months ended September 2024 , reflecting its strong operating performance and robust revenue growth.
Significant growth in assets under management (AUM): AUM increased 51.6% since December 31, 2023 to approximately C$770.5 million ( $570.8 million ) as of September 30, 2024 , driven by favorable market conditions, new product launches and strategic corporate actions that improved trading volumes and overall financial performance. Since September 30, 2024, AUM has continued to increase, reaching a record CAD 1.1 billion ( USD 785.4 million ) as of November 13, 2024.
Outlook 2024: DeFi Technologies expects to generate annual revenue of approximately CAD 198.6 million ( USD 141.5 million ) in fiscal 2024, supported by continued AUM growth, upcoming ETP launches and the integration of new acquisitions that will take advantage of favorable conditions in the digital asset sector. In addition, the company continues to explore additional Defi Alpha trading opportunities.
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