# DEFI DEVELOPMENT CORP. (DFDV) · Edgar & Edgarette company card

> Defi Development (DFDV) grew revenue 442% in FY2025 to $11 million, operating margin -320% against a -6.4% median for finance services, equity 32.3% of assets. Every figure is from the company’s own annual report filed with the SEC.

SEC CIK 1805526 · fiscal year ended 2025-12-31 · 4 audited years read · [page](https://www.pops4.com/boards/company/DFDV) · [JSON](https://www.pops4.com/boards/company/DFDV.json)

## Figures, as filed in the 10-K

| Measure | Value |
|---|---|
| Revenue | $11M |
| Revenue growth, 1 year | 442.2% |
| Revenue growth per year | 74.3% |
| Operating margin | -319.7% (prior year -143.0%) |
| Net margin | -648.1% |
| Operating cash flow | −$18M |
| Capital spending | $2,000 |
| Free cash flow | −$18M |
| Cash | $6M |
| Long-term debt | $127M |
| Total assets | $307M |
| Total equity | $99M |
| Equity ÷ assets | 32.3% |
| Return on equity | -74.3% |
| Dividend per share | — |
| Dividend years rising | — |

## Readings, computed from those figures

- Piotroski F: 2 of 9 (weak)
- Health Harbor boat: Rotting at the dock · four or more warning signs · filed late quarterly report notice in the last 12 months; operating cash flow was negative; operating loss: a margin of -319.7% in FY2025; revenue is hard to predict: its 80% range is ±47%
- Cash Compass: Fast, cash not yet · growing fast, but little cash arriving so far

## Edgarette's reading

Exposure: revenue $11.4M (FY2025), total debt $127.5M. Experience: revenue up 442.2% on the year, up 74.3% a year over 3 years; operating margin -319.7%, down from -143.0%. Soundness: equity 32.3% of assets, return on equity -74.3%. Credibility: four or more audited years, reasonable weight. Range: 80% of past cases like this landed between $23.9M and $66.9M next year (method v4.1: its own 2-year record of growth weighed at 25% against under $50M filers; across 2019–2025, 69.0% landed inside, 83.4% on the one year the method never saw). In a shock year the stress range is $22.3M to $71.9M. A statistical range, not company guidance. Against peers (36 filers, $50M+ revenue, finance services): operating margin -319.7% against a -6.4% median; growth 442.2% against 16.8%.

Range logged 2026-09-24, receipt afe65b239a8c2696, status open. A statistical range, not company guidance.

## Health Watch, last 12 months

- Item NT 10-Q Late quarterly report notice: 2, latest 2026-05-15 ([filing](https://www.sec.gov/Archives/edgar/data/1805526/000180552626000034/0001805526-26-000034-index.htm))
- Item 5.02 Director or officer change: 7, latest 2026-10-21 ([filing](https://www.sec.gov/Archives/edgar/data/1805526/000180552626000140/0001805526-26-000140-index.htm))

## Recent filings

- 8-K · filed 2026-11-02 · 8.01 Other Events; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1805526/000180552626000147/0001805526-26-000147-index.htm)
- 8-K · filed 2026-10-26 · 8.01 Other Events; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1805526/000180552626000142/0001805526-26-000142-index.htm)
- 8-K · filed 2026-10-21 · 5.02 Departure or Election of Directors; Appointment of Officers; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1805526/000180552626000140/0001805526-26-000140-index.htm)
- 8-K · filed 2026-10-19 · 8.01 Other Events; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1805526/000180552626000134/0001805526-26-000134-index.htm)
- 8-K · filed 2026-10-15 · 8.01 Other Events; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1805526/000180552626000132/0001805526-26-000132-index.htm)
- 8-K · filed 2026-10-13 · 8.01 Other Events; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1805526/000180552626000127/0001805526-26-000127-index.htm)

## Sources

- facts: https://data.sec.gov/api/xbrl/companyfacts/CIK0001805526.json
- filings: https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1805526

## Cite

POPS4, Edgar & Edgarette: DEFI DEVELOPMENT CORP. (DFDV) company card, from the company's own SEC filings, accessed 2026-11-04, https://www.pops4.com/boards/company/DFDV. CC BY 4.0. For a figure, add the filing URL under filings or sources.

DOI https://doi.org/10.5281/zenodo.23672509 · catalog https://www.pops4.com/boards/catalog.json · Figures as filed with the SEC. Card text CC BY 4.0, POPS4.

Reporting, not investment advice. No price targets and no trading recommendations.

Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.