DeFi Development Corp. Reports First Quarter 2025 Financial Results and Provides Strategic Update on Solana Treasury Activity

BOCA RATON, Fla., May 14, 2025 (GLOBE NEWSWIRE) -- DeFi Development Corp. (Nasdaq: DFDV) (“DeFi Dev Corp” or the “Company”), a public-market vehicle focused on long-term Solana (“SOL”) accumulation, today announced financial results for the first quarter ended March 31, 2025, and provided a strategic update on recent treasury activity. Q1 2025 Financial Highlights: 379% year-over-year improvement in annual recurring revenue related to SaaS businessSaaS revenue of approximately $191,000, up 163% year-over-year31% year-over-year improvement in cash flow from operations19% year-over-year improvement in net loss from operations Strategic and Operational Highlights (Past 30 Days): Executed Solana purchases, bringing total SOL holdings to over $100 million (inclusive of staking rewards)Formalized partnerships with BitGo and Kraken to expand access to locked SOL and institutional SOL stakingCompleted corporate name change to DeFi Development Corp. and announced ticker symbol change to DFDVContinued development of onchain-native investor reporting infrastructure, including NAV and SOL/share dashboards at https://defidevcorp.com/dashboardAnnounced the acquisition of a Solana validator business, enabling a new revenue stream and allowing DeFi Dev Corp. to maximize staking yield through self-stakingPurchased a record 172,670 SOL on May 12, 2025, marking our tenth purchase and bringing total treasury holdings to 595,988 SOL Key Operating Results: MetricQ1 2025Q1 2024% ChangeLoss from Operations$(883,167)$(1,018,252)+13% (lower loss)Net Loss$(777,599)$(964,051)+19% (lower loss)Operating Expenses$1,170,339$1,429,389-18%- Sales & Marketing$464,839$415,626+12%- Research & Development$169,018$173,384-3%- General & Administrative$543,912$758,761-28%- Depreciation & Amortization$49,882$72,985-32Weighted Avg. Shares Outstanding1,424,6491,382,730+3%Net Loss Per Share (Basic & Diluted)$(0.55)$(0.70)+21% (lower loss)Net Cash Used in Operating Activities$(785,639)$(1,146,227)+31%Annual Recurring Revenue$1,376,067$287,178+379% Management Commentary: “The past month has been transformative. We immediately began executing on our new treasury strategy, aggressively accumulated over 500,000 SOL, acquired a validator, onboarded new validator partners, and introduced tools to raise the bar for transparency,” said Joseph Onorati, CEO of DeFi Development Corp. “We have one goal: aggressively grow SOL per share, operate with discipline, and create long-term alignment between the Company and our shareholders.” Full financial results are available in the Company’s quarterly report on Form 10-Q, filed with the Securities and Exchange Commission on May 14, 2025. About DeFi Development Corp.DeFi Development Corp. (Nasdaq: DFDV) has adopted a treasury policy under which the principal holding in its treasury reserve on the balance sheet will be allocated to Solana (SOL). In adopting its new treasury policy, the Company intends to provide investors a way to access the Solana ecosystem. The Company’s treasury policy is expected to provide investors economic exposure to SOL investment. We are an AI-powered online platform that connects the commercial real estate industry by providing data and software subscriptions as well as value-add services to multifamily and commercial property professionals as we connect the increasingly complex ecosystem that stakeholders have to manage. We currently serve more than one million web users annually, including multifamily and commercial property owners and developers applying for billions of dollars of debt financing per year, professional service providers, and thousands of multifamily and commercial property lenders including more than 10% of the banks in America, credit unions, real estate investment trusts (“REITs”), debt funds, Fannie Mae® and Freddie Mac® multifamily lenders, FHA multifamily lenders, commercial mortgage-backed securities (“CMBS”) lenders, Small Business Administration (“SBA”) lenders, and more. Our data and software offerings are generally offered on a subscription basis as software as a service (“SaaS”). Forward-Looking Statements This release contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: "anticipate," "intend," "plan," "believe," "project," "estimate," "expect," strategy," "future," "likely," "may,", "should," "will" and similar references to future periods. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: (i) fluctuations in the market price of SOL and any associated impairment charges that the Company may incur as a result of a decrease in the market price of SOL below the value at which the Company’s SOL are carried on its balance sheet; (ii) the effect of and uncertainties related the ongoing volatility in interest rates; (iii) our ability to achieve and maintain profitability in the future; (iv) the impact on our business of the regulatory environment and complexities with compliance related to such environment including changes in securities laws or other laws or regulations; (v) changes in the accounting treatment relating to the Company’s SOL holdings; (vi) our ability to respond to general economic conditions; (vii) our ability to manage our growth effectively and our expectations regarding the development and expansion of our business; (viii) our ability to access sources of capital, including debt financing and other sources of capital to finance operations and growth and (ix) other risks and uncertainties more fully in the section captioned "Risk Factors" in the Company's most recent Annual Report on Form 10-K, Form S-3 and other reports we file with the SEC. As a result of these matters, changes in facts, assumptions not being realized or other circumstances, the Company's actual results may differ materially from the expected results discussed in the forward-looking statements contained in this press release. Forward-looking statements contained in this announcement are made as of this date, and the Company undertakes no duty to update such information except as required under applicable law. Investor Contact:ir@defidevcorp.com Media Contact:Prosek Partnerspro-ddc@prosek.com

DeFi Development Corp. Reports First Quarter 2025 Financial Results and Provides Strategic Update on Solana Treasury Activity

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