DeFi Technologies (CBOE CA: DEFI) (GR: R9B) (OTCQB: DEFTF), a FinTech company establishing itself as the first and only publicly traded company that bridges the gap between traditional capital markets, Web3 and DeFi, recently announced its financial performance for the three months ended March 31, 2024.
Quarter-over-quarter highlights included its cash balance rising from C$6.7 million to C$9.4 million and assets under management growing by 78.7% to C$908 million. Total operating revenues significantly improved for Q1 2024 to C$13.4 million compared to C$(3.6) million for the same period a year earlier. Additionally, operating net income totaled C$5.3 million for the quarter.
Today, Zacks provided the following key takeaways in its latest small-cap research report covering Defi Technologies: “1) stepped up earnings power following recent deleveraging that cuts interest expense and unlocks higher-yielding AUM; 2) sustainable demand for Valour’s ETPs despite near-term crypto volatility; and 3) ongoing product development focused on innovative and differentiated offerings that facilitate access and exposure to digital assets via secure, liquid, and yield-bearing vehicles.”
“We believe DEFTF remains well positioned for accelerating growth driven by the firm’s diversified digital assets platform, rising demand for crypto ETPs more broadly, ongoing product development, durable regulatory competitive advantages, and an increasingly potent earnings profile,” Michael Kim, author of the research report, stated. “We are raising our 2024 and 2025 EPS estimates from $0.08/$0.40 to $0.12/$0.51.”
For access to the full report and to see details on the valuation set, visit https://ibn.fm/yOkFp
About DeFi Technologies
DeFi Technologies Inc. (NEO: DEFI) (GR: MB9) (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/.
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