Defi Technologies, Inc.

Q1 2025 DeFi Technologies Financials. And today we're going to discuss our progress through the quarter, touch on a little bit about what we accomplished last year and what we're looking forward to over the course of this year and the next couple of years. My name is Curtis Schlaffman, VP of Marketing and Communications. Joined by our CEO, Olivia Rusi-Newton, co-founder Johan Wattenstrom, our CFO, Paul Pozzocchi, capital markets head guy, Russell Starr, and our corporate secretary, Kenny Choi. First, I'm going to read forward-looking statements, and then we'll jump into this. Risk and forward-looking statements, the presentation given, and certain statements made within this earnings poll, which are not historical facts, such as expectations, anticipations, beliefs, and estimates, are forward-looking statements. These statements may include, without limitation, any statements preceded by, followed by, or including words such as target, believe, assume, expect, commit, aim, intend, may, anticipate, foresee, see, estimate, plan, project, will, is to, focus, can, have, likely, should, would, could, continue, in other words, or term similar meaning of negative thereof. Others can be identified from the context in which these statements are made. Forward-looking statements give the company's current expectations and views of the future developments in light of its current experience and perception of historical trends. Based on numerous assumptions regarding the company's present and future business strategies and the environment in which it will operate in the future, although the company such forward-looking statements to be reasonable, no assurance can be given that they will be proven correct. These forward-looking statements are not guaranteed of future developments and results mentioned therein. Forward-looking statements involve known and unknown risks and certainties and other factors such as lit, but not limited to general economic and industry conditions, which are in some cases beyond the company's control. which may cause actual results to materially differ from those expressed in such statement. The statements are made as per the date of the presentation and this earnings call, and the company does not assume any obligation to review, update, or confirm any forward-looking statements contained herein, except to the extent legally required. Also forgot to mention, we're also joined by Andrew Forsen, President of DeFi Technologies and Chief Growth Officer of Valor. Welcome, Andrew. This is your first call. All right, let's get into it. Oli, I'll hand it off to you.

Thank you, Curtis. And thanks to everyone who's joining us on this call. So we are delighted to give our first presentation as a NASDAQ-listed company. and also encapsulate another record quarter for the company. We own and operate several subsidiaries, our own venture portfolio, trading desk, treasury strategy, and several industry partnerships, which allow us to seamlessly tap into the extensive $33 trillion sector in a regulated manner, which we've done so since inception of the war and also DeFi as a public company. So high-level numbers, EBITDA for Q1. I'm curious if you go back. Go ahead. High level numbers, we're 44, just under 45 million Canadian, translates to 31.2 USD, Q1 2025 EBITDA, market cap of 1.9 billion Canadian, equivalent to 1.3 billion US. We have 65 listed exchange traded products across a number of different jurisdictions. I think it's almost six or seven now. Six highly scalable business lines. And we are going to get more into how we plan on growing all of this in the coming quarters and years. So this is our Q1 2025 key financial and business metrics. Book value 79.7 million Canadian equivalent to $55.5 million USD. Q1 2025 net revenue 62.7 million Canadian. Q1, 2024 earnings per share is 13 cents CAD equivalent to nine cents USD covered the market capitalization. Assets under management, just under a billion. Canadian translates to 640 million USD. AUM as of 31st, 2025. We've obviously seen somewhat of a slump, I would say, over the last kind of four to five months in digital assets associated with macro environments that we're seeing a nice rebound in. We've covered Q1 2025 EBITDA, $44.8 million. And as of now, as of today, our cash digital asset treasury and venture portfolio stands at $117 million Canadian, equivalent to $81 million 0.5 million USD. We've updated our revenue guidance, which we can get into in further detail on the call from, I believe it was 130 million USD up to 201 million USD, $285.6 million Canadian equivalent. So a big jump based on how we're forecasting digital assets towards how they've picked up dramatically in the last quarter and into the year end. If anyone's kind of new to DeFi technologies, this is kind of an overall infographic on all of the specific subsidiaries and business operations that we own and operate. I'll start from left to right. We have our own research unit called Reflexivity Research that we acquired from Anthony Pompliano and Will Clemente. About a year ago, it's been highly complimentary to our Velour business unit where we can provide cutting edge pragmatic research for the holders and prospective investors looking for exposure across our 65 plus exchange traded products. So we compliment that with high level research. We've recently closed the acquisition of Stillman Digital, which is a leading market-making, liquidity service provisioning, custody, and OTC desk that is growing extremely rapidly and has enabled us to expand our internal DeFi Alpha profitability and trading execution capabilities. So we're extremely happy about having that integrated finally. It was kind of a regulatory hurdles of transitioning their Bermuda-based licenses into our overall corporate structure. We own a 5% stake in the first licensed FINMA Licensed Swiss bank, which is AUM, has been growing along with the cryptocurrency industry trend, which is nice to see. And we also have a fairly new business unit called DeFi Alpha, We identify low-risk arbitrage opportunities that present themselves and generated just under 100 million US in 2024, equivalent to 133 million Canadian, and recently announced a trade, I believe it was a week and a half ago, of $30 million. So we continue to assess opportunistically amidst the volatility of the cryptocurrency landscape, risk-free arbitrage opportunities that we see opportunistically picking up. We have a venture portfolio that is really kind of used to take stakes, early stage stakes in companies that we believe have promising potential for the securitization and creation of exchange traded products, which we continue to do. And also very excited about the, I believe it was a month ago, we closed the majority stake, 52.5% of a pioneering company called Neuronomics. that has been devising equity-related artificial intelligence strategies for close to a decade and for the last four or five years has refocused their efforts in the cryptocurrency space. So we look forward to utilizing our Valor infrastructure and new fund infrastructures that we are working on to encompass artificial intelligence strategies overlaid with digital assets.

All right. Thanks, Ali. Paul, let's turn it to you and go a little deeper into the financials from Q1.