DeFi Technologies Inc. Reports Record Q2 2024 Financial Results

DeFi Technologies Inc. (CBOE CA: DEFI), a financial technology company, has announced its Q2 2024 financial results, marking its strongest quarter to date. The company achieved record revenues of C$133.2 million (US$98.0 million) and net income of C$90.4 million (US$66.5 million) for the three months ending June 30, 2024.

Strategic advancements included the launch of multiple Exchange Traded Products (ETPs) by its subsidiary, Valour Inc., and significant growth in Assets Under Management (AUM), which increased by 43.7% to approximately C$730.1 million (US$533.4 million) as of June 30, 2024.

CEO Olivier Roussy Newton emphasized the transformative nature of the quarter, noting the success of newly launched initiatives like DeFi Alpha, which generated over $111.5 million (US$82 million) in revenue. The company also paid down C$40.4 million (US$29.5 million) in outstanding loans.

Looking forward, DeFi Technologies projects its annualized revenues for fiscal 2024 to reach approximately C$179 million (US$131 million), bolstered by continued AUM growth and new product launches.