DeFi Technologies Inc. Announces Q2 2024 Financial Results: Achieving Its Strongest Financial Quarter to Date, Record Revenues of C$133.2 million (US$98.0 million) and $128.2 million (US$94.4 million) for the three and six months ended June 30, 2024, Net Income of C$90.4 million (US$66.5 million) and $72.3 million (US$53.2 million) for the three and six months ended June 30, 2024, and Notable Strategic Developments
DeFi Technologies Inc. (DEFTF) reported record-breaking Q2 2024 financial results:
- Total Revenue: C$133.2M (US$98.0M) for Q2, C$128.2M (US$94.4M) for H1
- Net Income: C$90.4M (US$66.5M) for Q2, C$72.3M (US$53.2M) for H1
- Assets Under Management (AUM): C$730.1M (US$533.4M) as of June 30, 2024, up 43.7% since Dec 31, 2023
- Cash balance: C$19.5M (US$14.2M) as of June 30, 2024
Key developments include multiple ETP launches by Valour, DeFi Alpha trading desk generating over C$111.5M in Q2, and strategic loan repayments. The company projects annualized revenues of approximately C$179M (US$131M) for fiscal 2024, supported by AUM growth and new acquisitions.
DeFi Technologies Inc. (DEFTF) ha riportato risultati finanziari da record per il secondo trimestre del 2024:
- Ricavi Totali: C$133.2M (US$98.0M) per il Q2, C$128.2M (US$94.4M) per il primo semestre
- Utile Netto: C$90.4M (US$66.5M) per il Q2, C$72.3M (US$53.2M) per il primo semestre
- Attività Sotto Gestione (AUM): C$730.1M (US$533.4M) al 30 giugno 2024, con un aumento del 43.7% rispetto al 31 dicembre 2023
- Saldo di cassa: C$19.5M (US$14.2M) al 30 giugno 2024
Le principali novità includono il lancio di molteplici ETP da parte di Valour, un desk di trading DeFi Alpha che ha generato oltre C$111.5M nel Q2 e rimborsi di prestiti strategici. L'azienda prevede ricavi annualizzati di circa C$179M (US$131M) per l'anno fiscale 2024, supportati dalla crescita dell'AUM e da nuove acquisizioni.
DeFi Technologies Inc. (DEFTF) reportó resultados financieros récord para el segundo trimestre de 2024:
- Ingresos Totales: C$133.2M (US$98.0M) para el Q2, C$128.2M (US$94.4M) para el primer semestre
- Ingreso Neto: C$90.4M (US$66.5M) para el Q2, C$72.3M (US$53.2M) para el primer semestre
- Activos Bajo Gestión (AUM): C$730.1M (US$533.4M) al 30 de junio de 2024, un aumento del 43.7% desde el 31 de diciembre de 2023
- Saldos de efectivo: C$19.5M (US$14.2M) al 30 de junio de 2024
Desarrollos clave incluyen el lanzamiento de múltiples ETP por parte de Valour, la mesa de trading DeFi Alpha generando más de C$111.5M en el Q2 y reembolsos estratégicos de préstamos. La empresa proyecta ingresos anualizados de aproximadamente C$179M (US$131M) para el ejercicio fiscal 2024, respaldados por el crecimiento de AUM y nuevas adquisiciones.
DeFi Technologies Inc. (DEFTF)가 2024년 2분기 기록적인 재무 결과를 보고했습니다:
- 총 수익: C$133.2M (US$98.0M) (2분기), C$128.2M (US$94.4M) (상반기)
- 순이익: C$90.4M (US$66.5M) (2분기), C$72.3M (US$53.2M) (상반기)
- 운용 자산(AUM): 2024년 6월 30일 기준 C$730.1M (US$533.4M), 2023년 12월 31일 대비 43.7% 증가
- 현금 잔고: 2024년 6월 30일 기준 C$19.5M (US$14.2M)
주요 개발 사항으로는 Valour의 여러 ETP 출시, DeFi Alpha 트레이딩 데스크가 2분기 동안 C$111.5M 이상을 생성한 것과 전략적 대출 상환이 포함됩니다. 회사는 AUM 성장 및 신규 인수 지원에 따라 2024 회계연도 동안 약 C$179M (US$131M)의 연간 수익을 예상하고 있습니다.
DeFi Technologies Inc. (DEFTF) a annoncé des résultats financiers records pour le deuxième trimestre de 2024 :
- Revenu Total : C$133.2M (US$98.0M) pour le Q2, C$128.2M (US$94.4M) pour le premier semestre
- Bénéfice Net : C$90.4M (US$66.5M) pour le Q2, C$72.3M (US$53.2M) pour le premier semestre
- Actifs Sous Gestion (AUM) : C$730.1M (US$533.4M) au 30 juin 2024, en hausse de 43.7% depuis le 31 décembre 2023
- Solde de Trésorerie : C$19.5M (US$14.2M) au 30 juin 2024
Parmi les développements clés, on trouve le lancement de plusieurs ETP par Valour, un bureau de trading DeFi Alpha ayant généré plus de C$111.5M au Q2, ainsi que des remboursements de prêts stratégiques. L’entreprise projette des revenus annualisés d’environ C$179M (US$131M) pour l’exercice 2024, soutenus par la croissance de l’AUM et de nouvelles acquisitions.
DeFi Technologies Inc. (DEFTF) hat rekordverdächtige Finanzzahlen für das zweite Quartal 2024 berichtet:
- Gesamtumsatz: C$133.2M (US$98.0M) für das Q2, C$128.2M (US$94.4M) für das erste Halbjahr
- Nettoergebnis: C$90.4M (US$66.5M) für das Q2, C$72.3M (US$53.2M) für das erste Halbjahr
- Verwaltetes Vermögen (AUM): C$730.1M (US$533.4M) zum 30. Juni 2024, ein Anstieg um 43.7% seit dem 31. Dezember 2023
- Liquiditätsbestand: C$19.5M (US$14.2M) zum 30. Juni 2024
Wichtige Entwicklungen umfassen mehrere ETP-Einführungen durch Valour, die DeFi Alpha-Handelsgruppe, die im Q2 über C$111.5M erwirtschaftete, und strategische Kreditrückzahlungen. Das Unternehmen prognostiziert für das Geschäftsjahr 2024 jährliche Einnahmen von etwa C$179M (US$131M), unterstützt durch das Wachstum des AUM und neue Akquisitionen.
- Record-breaking Q2 2024 revenue of C$133.2M (US$98.0M), a significant increase from C$7.4M in Q2 2023
- Net income of C$90.4M (US$66.5M) for Q2 2024, compared to a loss of C$0.7M in Q2 2023
- AUM grew 43.7% to C$730.1M (US$533.4M) from December 31, 2023 to June 30, 2024
- DeFi Alpha trading desk generated over C$111.5M (US$82M) in Q2 2024
- Cash balance increased to C$19.5M (US$14.2M) from C$6.7M at the end of 2023
- Projected annualized revenues of C$179M (US$131M) for fiscal 2024
- Net income for H1 2024 (C$72.3M) is lower than Q2 2024 alone (C$90.4M) due to downward adjustment in BTC collateral value
- Outstanding loan payable to Genesis Global Capital affected by Genesis' bankruptcy filing
- Record Operating Revenues and Net Income: DeFi Technologies recorded its strongest quarter ever, achieving Total Revenues of
C (approximately$133.2 million US ) and$98.0 million C (approximately$128.2 million US ) for the three and six months and Net Income of$94.4 million C (approximately$90.4 million US ) and$66.5 million C (approximately$72.3 million US ) for three and six months ended June 30, 2024.$53.2 million - Strategic Advancements and Product Launches: The quarter featured the launch of multiple Exchange Traded Products ("ETPs") by subsidiary Valour Inc, and Valour Digital Securities Limited (together, "Valour") significantly enhancing the company's product offerings and market position.
- Substantial Growth in Assets Under Management (AUM): AUM grew by
43.7% since December 31, 2023 to approximatelyC ($730.1 million US ) as of June 30, 2024, driven by favorable market conditions, new product launches, and strategic corporate actions that enhanced trading volumes and overall financial performance. Since June 30, 2024, AUM has further increased to$533.4 million C ($837 million US ) as of July 31, 2024.$610 million - 2024 Outlook: Looking ahead, DeFi Technologies projects its annualized revenues for fiscal 2024 to reach approximately
C ($179 million US ) for 2024, supported by ongoing AUM growth, upcoming ETP launches, and the integration of new acquisitions, which are poised to capitalize on the favorable conditions in the digital asset sector. Furthermore, we continue to evaluate additional Defi Alpha trading opportunities which, if executed, will drive revenues and net income higher.$131 million
TORONTO , Aug. 14, 2024 /PRNewswire/ - DeFi Technologies Inc. (the "Company" or "DEFI") (CBOE CA: DEFI) (GR: R9B) (OTC: DEFTF), a financial technology company and the first and only publicly traded company that bridges the gap between traditional capital markets, Web3 and decentralised finance, announces its financial performance for the three and six months ended June 30, 2024 (all amounts in Canadian dollars, unless otherwise stated).
Key Highlights of Q2 2024:
- The Company reported a cash balance as of June 30, 2024 of
C ($19.5 million US ) compared to$14.2 million C ($6.7 million US ) on December 31, 2024. The Company also held$4.2 million in USDT and 110 BTC totaling$54.5 million ($9.2M US ) as part of its treasury position at the end of June 2024. As of August 14, 2024, the Company's digital asset treasury position has increased to include 204.23 BTC,$6.7M 12,775 SOL , and 1,484,148 CORE, totaling ($15.5 million US ).$21.2 million - The Company's venture portfolio investments were valued at
C ($41.0 million $US30.5 million ) as of June 30, 2024. - AUM grew
43.7% fromC ($508.1 million $US370.8 million ) as of December 31, 2023 to approximatelyC ($730.1 million US ) as of June 30, 2024.$532.2 - Total Revenues were
C ($133.2 million US ) for Q2 2024, a significant improvement from the total revenues of$98 million C ($7.4 million US ) for the same period in 2023.$5.4 million - Valour announced the launches of a Short Spot Bitcoin ETP, Valour Internet Computer (ICP) ETP, Valour Toncoin (TON) ETP, Valour Chainlink (LINK) ETP, the world's first CORE ETP, expanded the world's first Hedera ETP to Spotlight Stock Market and launched the world's first yield bearing Bitcoin (BTC) ETP in collaboration with Core Foundation, offering investors exposure to Bitcoin with a
5.65% yield. - DeFi Alpha, a specialized arbitrage trading desk, generated over
($111.5 Million US ) in Q2 2024.$82 Million - Valour paid down
C ($40.4 million US ) in outstanding loans, thereby increasing digital asset collateral for revenue generation.$29.5 million - Valour launched trading desk in
UAE to expand ETP listings and presence in theMiddle East . - DeFi Technologies launched a normal course issuer bid.
- DeFi Technologies announced the launch of a Core chain validator node to participate in network consensus and staking, stakes 1,498 BTC.
- Reflexivity Research partnered with CoinMarketCap to deliver crypto insights.
Comment from the CEO:
"Q2 2024 represents a transformative period for DeFi Technologies, setting new benchmarks for financial performance and strategic growth. Our record revenues of
A pivotal highlight of this quarter was the launch of DeFi Alpha, our specialized arbitrage trading desk, which generated over
Additionally, we strategically paid down
The
The net income of
"Moving forward, we remain focused to capitalize on the growing opportunities within the digital asset sector, ensuring that DeFi Technologies remains at the forefront of financial innovation and continues to leverage our digital asset treasury and initiatives like DeFi Alpha to maximize returns and support the broader ecosystem," added Mr. Roussy Newton.
ETPs/Valour:
Valour's ETP business reported AUM of
Liquidity:
The Company ended Q2 2024 with a cash balance of
Financial Performance:
For the three and six months ending June 30, 2024:
- Revenues were
and$133.2 million for three and six months ended June 30, 2024, compared to$128.2 million and$7.4 million for the same periods in 2023. Defi Alpha trading desk revenue, increased staking and lending, management fees and new revenue from its recently acquired Reflexivity LLC helped improve revenues in Q2 2024.$(4.0) million - Net Income was
and$90.4 million for three and six months ended June 30, 2024 compared to$72.3 million and$(0.7) million $ 17.1) million for the same periods in 2023.
Outlook for 2024:
The outlook that follows supersedes all prior financial outlook statements made by the Company, constitutes forward-looking information within the meaning of applicable securities laws, and is based on a number of assumptions and subject to a number of risks. Actual results could vary materially as a result of numerous factors, including certain risk factors, many of which are beyond the Company's control. Please see "Cautionary note regarding forward-looking information" and "Financial Outlook Assumptions" below for more information.
The Company has experienced significant revenue growth since Q1 2024. Valour's ETPs have witnessed a nearly
The Company's staking and lending income, changes in gains and losses on digital assets and ETP payables, as well as management fees, are closely correlated with capital inflow for Valour's ETPs and the price of digital assets underlying Valour's ETPs, which has continued to grow since the end of 2023. Furthermore, revenue from arbitrage and liquidity provision is highly linked to overall market activity and turnover in Valour's listed ETPs. The Company also formed DeFi Alpha in Q2 2024, which generated approximately
For Q3 2024, it is anticipated that new ETP launches, improved ETP mix and continuous inflow of funds into Valour's ETPs, further trading opportunities identified and executed by DeFi Alpha and accretive acquisitions of the Company, will continue to add to revenues of the Company. The Company maintains its plans to launch approximately 15 ETP products in 2024 and an additional 30 in 2025 as the Company continues to take advantage of positive macro fundamentals for the digital asset ecosystem in general.
______________________________ |
1 The Company provided an Operating Revenue guidance of |
About DeFi Technologies
DeFi Technologies Inc. (CBOE CA: DEFI) (GR: R9B) (OTC: DEFTF) is a financial technology company that pioneers the convergence of traditional capital markets with the world of decentralized finance (DeFi). With a dedicated focus on industry-leading Web3 technologies, DeFi Technologies aims to provide widespread investor access to the future of finance. Backed by an esteemed team of experts with extensive experience in financial markets and digital assets, we are committed to revolutionizing the way individuals and institutions interact with the evolving financial ecosystem. Join DeFi Technologies' digital community on Linkedin and Twitter, and for more details, visit https://defi.tech/
About Valour
Valour Inc. and Valour Digital Securities Limited (together, "Valour") issues exchange traded products ("ETPs") that enable retail and institutional investors to access digital assets like Bitcoin in a simple and secure way via their traditional bank account. Valour is part of the asset management business line of DeFi Technologies Inc. (CBOE CA: DEFI) (GR: R9B) (OTC: DEFTF).
In addition to their novel physical backed digital asset platform, which includes 1Valour Bitcoin Physical Carbon Neutral ETP, 1Valour Ethereum Physical Staking, and 1Valour Internet Computer Physical Staking, Valour offers fully hedged digital asset ETPs with low to zero management fees, with product listings across European exchanges, banks and broker platforms. Valour's existing product range includes Valour Uniswap (UNI), Cardano (ADA), Polkadot (DOT), Solana (SOL), Avalanche (AVAX), Cosmos (ATOM), Binance (BNB), Ripple (XRP), Toncoin (TON), Internet Computer (ICP), Chainlink (LINK) Enjin (ENJ), Valour Bitcoin Staking (BTC), Bitcoin Carbon Neutral (BTCN), Valour Digital Asset Basket 10 (VDAB10) and 1Valour STOXX Bitcoin Suisse Digital Asset Blue Chip ETPs with low management fees. Valour's flagship products are Bitcoin Zero and Ethereum Zero, the first fully hedged, passive investment products with Bitcoin (BTC) and Ethereum (ETH) as underlyings which are completely fee free.
For more information on Valour, to subscribe, or to receive updates and financial information, visit valour.com.
About Reflexivity Research
Reflexivity Research LLC is a leading research firm specializing in the creation of high-quality, in-depth research reports for the bitcoin and digital asset industry, empowering investors with valuable insights. For more information please visit https://www.reflexivityresearch.com/
Cautionary note regarding forward-looking information:
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to the financial results of the Company; revenue outlook of the Company; revenue generation by DeFi Alpha; future collaborations and partnerships; development of ETPs; the regulatory environment with respect to the growth and adoption of decentralized finance; the pursuit by DeFi Technologies and its subsidiaries of business opportunities; and the merits or potential returns of any such opportunities. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company, as the case may be, to be materially different from those expressed or implied by such forward-looking information. Such risks, uncertainties and other factors include, but is not limited the acceptance of Valour exchange traded products by exchanges; growth and development of DeFi and digital asset sector; rules and regulations with respect to DeFi and digital asset; general business, economic, competitive, political and social uncertainties. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
Financial Outlook Assumptions
The financial outlook on revenue of the Company is based on a number of assumptions, including assumptions related to inflation, changes in interest rates, volatility of the digital asset market, current and projected market prices of digital assets, in particular the digital assets underlying the Company's ETPs, the Company's ability to realize staking and lending income from digital assets held by the Company, the ability of DeFi Alpha to generate yield on the Company's excess liquidity and identify and execute accretive trading opportunities, the return realized by the Company on staking and lending income, the return on management fees earned by the Company, ongoing subscriptions of Reflexivity Research, consumer interest in the Valour's ETPs, foreign exchange rates and other macroeconomic conditions, the regulatory environment with respect to ETPs and digital assets in the jurisdictions that the Company operates in, introduction of future ETPs, "black swan events" in the digital asset industry, competitors that offer competing ETP products and market acceptance of the Company's ETP offerings. The Company's financial outlook, including the various underlying assumptions, constitutes forward-looking information and should be read in conjunction with the cautionary statement on forward-looking information above. Many factors may cause the Company's actual results, level of activity, performance or achievements to differ materially from those expressed or implied by such forward-looking information, including the risks and uncertainties related to: macroeconomic factors affecting the digital asset industry, including inflation, changes in interest rates, investor confidence in digital assets; volatility of the digital assets and fluctuation in market value of digital assets; exchange rate fluctuations; any pandemic such as the COVID-19 pandemic or the mpox virus; fraud, misconduct or gross negligence by individuals within the digital asset industry; a negative regulatory environment with respect to digital assets; the Russian invasion of
THE CBOE
SOURCE DeFi Technologies Inc.
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