DeFi Technologies Hosts Institutional Showcase in Paris as Q1 Revenue Tumbles and Share Buyback Gathers Pace

DeFi Technologies hosts institutional event at Louvre despite 82% stock drop. Q1 revenue fell to $11.2M, but $156M in assets and buyback signal resilience. Valour ETP sees April inflows.

The Louvre is an unlikely venue for a digital-asset infrastructure firm nursing an 82% decline from its twelve-month high. Yet that is the stage DeFi Technologies has chosen for its latest Capital Markets Series event, a gathering designed for asset managers, family offices and institutional banks. The timing is awkward: the stock closed Monday at €0.53 in Toronto, adding to a monthly loss of 21% and leaving the shares just 18 euro cents above their trough of €0.45.

Management is betting that the institutional narrative can overpower the unforgiving numbers. First-quarter revenue fell to $11.2 million from $43.8 million a year earlier, dragged down by the Valour ETP segment where average assets under management slid to $533.6 million from $789 million. Net income crumbled from $30.0 million to $4.9 million. Adjusted core operating earnings — which strip out realized and unrealized crypto gains and losses — slipped to $6.3 million from $8.3 million.

One pocket of strength was the Stillman Digital institutional trading desk, where commission income climbed to $2.9 million from $2.1 million. That division now offers a sliver of diversification against the ETP revenue headwinds.

Balance sheet resilience and a buyback in play

Despite the profit slump, the company ended March with roughly $103 million in cash and stablecoins, plus digital-asset treasury holdings and a venture portfolio that together reach about $156 million. Working capital swung from negative $5.1 million at the end of 2025 to positive $47.3 million. That liquidity cushion has enabled management to launch a Normal Course Issuer Bid, authorized to repurchase up to 10% of the public float — around 31.67 million shares. The program runs until August 26, 2026, and the firm started it with roughly $19.8 million in earmarked cash.

Buybacks signal that executives view the current valuation as too low, but the market has so far been unimpressed. The stock trades about 12% below its 50-day moving average and has lost nearly 29% year-to-date.

European roadshow and the AUM recovery question

DeFi Technologies is doubling down on face-to-face outreach. After the Paris event at the Louvre, the next stop is Canada House in London on June 4, co-hosted with the Canada-UK Chamber of Commerce. The company’s partnership with OMFIF’s Digital Monetary Institute runs through 2027, while its DVIO Index tracks capital flows across the 50 largest digital assets within the Valour ETP platform.

The institutional investor base already holds close to 35 million shares across roughly 102 accounts. Visible demand from that cohort could matter more for the stock price than fleeting crypto sentiment.

A concrete near-term data point gives some reason for optimism: Valour products saw net inflows of $14.6 million in April, pushing AUM back above $550 million. If that trend persists into the second quarter, it could help stabilize the revenue base. For now, though, the gap between a solid balance sheet and a shrinking top line remains wide — and the stock is pricing in the latter.