DeFi Technologies Inc. Q4 FY2023 Earnings Call
· Earnings call transcript and AI-powered summary
DeFi Technologies Q4/Fiscal 2023 Earnings Highlights
- Cash Position: $6.7 million as of Dec 31, 2023, up from $4.9 million as of Dec 31, 2022.
- Revenues: $10.4 million for fiscal 2023, down from $14.2 million in fiscal 2022. (Note: Management clarified 2023 showed a gain of $10.4 million vs. a loss of $14.1 million in 2022.)
- Portfolio Investments: Valued at $44.1 million at year-end 2023.
- Expenses: Total expenses $13.5 million in 2023, down 41% year-over-year. Operating G&A reduced to $10 million (from ~$15 million previously); other breakdowns include share-based comp $3M, monetization $2M, interest on debt $4.2M, transaction/ETP fees $1M, and mark-to-market FX loss $10M.
Valour (ETP/Asset Management) Performance
- AUM Growth: 476% increase from $106 million at end of fiscal 2022 to just over CAD 0.5 billion by end of 2023. Current AUM at $880 million as of March 24, 2024 (up from prior periods with robust daily trading volumes >$20 million).
- Management Fees (Q4 2023): October $114,000; November $240,000; December $402,000 (driven by rising digital asset prices and ETP net asset values). Only two days of net outflows since inception, indicating strong customer retention.
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