DeFi Technologies (DEFT) Stock: Price, Business and Forecast

Page last revised: July 7, 2026

Davey Technologies Inc (NASDAQ: DEFT) has become one of the most closely watched cryptocurrency-adjacent stocks on the Nasdaq, offering investors indirect exposure to digital assets through a regulated, publicly traded structure rather than direct token ownership. The Toronto-based company, formerly known as Valor Inc., has registered. Before rebranding in 2023, it posted record annual revenue in 2025 even as its stock price fell sharply from 52-week highs — a disconnect that put its business fundamentals and stock performance on diverging paths. Here’s what the numbers say about DEFT now.

Key takeaways

• DEFT is trading on the Nasdaq at approximately $0.53 as of July 6, 2026, down from a 52-week high of $3.59.
• The company reported record full-year 2025 revenue of $99.1 million and net income of $62.7 million.
• Q1 2026 revenue was $11.2 million with $4.9 million in net income, along with $156 million of cash and digital asset holdings.
• Nasdaq notified DeFi Technologies in March 2026 that its shares had traded below the minimum bid price of $1.00 for 30 consecutive days, creating a listing compliance issue.
• The company is also facing a securities class action lawsuit related to the disclosures, with the January 2026 investor deadline having already passed.

Divot stock metrics

What do DeFi technologies do?

DeFi Technologies operates as a holding company that bridges traditional capital markets and decentralized finance, and is built on several distinct business lines:

• Valor Company – The company’s primary subsidiary, which issues exchange-traded products (ETPs) that give investors regulated exposure to individual digital assets or baskets of them. Valor generated $3.3 million in management, equity and lending income in the first quarter of 2026 with average assets under management of $533.6 million.
• Stillman Digital – A trading desk focused on OTC liquidity, arbitrage and market making across digital assets, contributing $2.9 million in trading commissions in the first quarter of 2026.
• Decentralized finance projects — The company’s early-stage investment arm, supporting companies, protocols and institutions in the digital asset space.
• Reflexive research – An in-house research unit produces digital asset market analysis.

Financial performance for the first quarter of 2026 and fiscal year 2025

DeFi Technologies’ latest quarterly results show that the company is generating real and growing revenues despite its declining share price:

• First quarter 2026: Revenues were $11.2 million, core operating income was $6.3 million, net income was $4.9 million, and total operating expenses were $11.4 million. The company held approximately $156 million in cash, stablecoins, digital asset treasury and venture holdings as of March 31, 2026, with positive working capital of $47.3 million – a reversal from negative $5.1 million at the end of 2025.
• FY2025: Recorded annual revenue of $99.1 million and net income of $62.7 million, with average assets under management of $809.9 million across Valour’s ETP lineup. Operating expenses fell 14% year-over-year to $52.6 million, while Valour’s management fees rose 51% to $9.7 million, and Stillman’s trading commissions added $9.6 million in the first full year after the acquisition.

Why did DEFT stock fall?

Despite record revenue, DEFT shares are down nearly 85% from their 52-week high. There are several factors that explain the gap between business performance and stock price:

• Massive sell-off of crypto stocks: Cryptocurrency-adjacent stocks have traded closely with digital asset prices throughout 2026, and the decline in the underlying market has weighed on sentiment toward companies with balance sheets tied to digital assets.
• Nasdaq Listing Compliance Risks: In March 2026, Nasdaq notified the company that its stock price had closed below the minimum bid price of $1.00 for 30 consecutive trading days, a violation of Nasdaq’s listing rules. Prolonged non-compliance can eventually lead to delisting proceedings if not remedied.
• Ongoing Securities Litigation: DeFi Technologies is facing a securities class action lawsuit, with law firms including Rosen Law Firm and Faruqi & Faruqi courting investors ahead of a January 30, 2026 deadline. Unresolved lawsuits tend to lower valuation multiples independent of underlying financial performance.
• Analyst target price cuts: Several analysts cut price targets on DEFT in the first half of 2026, including cuts from B. Riley (to $0.90) and Benchmark (to $2.00), reflecting caution despite the company’s revenue growth.

What could happen next?

• Taurus condition: If DEFT regains compliance with Nasdaq and digital asset markets rebound, Valor’s continued AUM growth and expansion of Stillman’s trading volumes could return the stock’s valuation closer to its earnings strength, given its trailing P/E of 7.
• bear case: Continued stock price weakness could result in a reverse stock split to maintain a Nasdaq listing, or in a worst-case scenario, a move to the OTC markets if compliance is not restored within the Nasdaq cure period.
• Basic case: The stock continues to trade in a low-dollar range closely tied to broader cryptocurrency market sentiment, with quarterly earnings reports serving as primary near-term catalysts.

DEFT vs. other stocks with crypto exposure

How to buy divt shares

DEFT is a regular stock, not a token, so it cannot be purchased on cryptocurrency exchanges. It is traded on the Nasdaq Stock Exchange in the US (DEFT) and on the NEO Stock Exchange in Canada (DEFI.NE), and is accessible through most standard brokerages, including Robinhood, Fidelity, Charles Schwab, Interactive Brokers, and Canadian brokerages for stocks listed on NEO. As with any stock, investors should confirm the order type and check for any trading pauses related to Nasdaq’s compliance review before placing trades.