Revenue Growth - As of March 31, 2025, the annual recurring revenue (ARR) reached approximately $1.4 million, a 379% increase from approximately $287,000 as of March 31, 2024[126]. - Subscription revenue increased to approximately $191,000 in Q1 2025 from approximately $73,000 in Q1 2024, representing a growth of 161%[162]. - Revenue for Q1 2025 was approximately $287,000, a decrease of $124,000 or 30% compared to Q1 2024 revenue of approximately $411,000[161]. - Subscription revenue is derived from various SaaS platforms, including Janover Pro, Janover Connect, and Janover Insurance, with revenue recognized over the term of customer contracts[181]. Financial Performance - Total operating expenses for Q1 2025 were approximately $1.17 million, down $259,000 or 18% from approximately $1.43 million in Q1 2024[161]. - Net loss for Q1 2025 was approximately $778,000, a reduction of $186,000 or 19% compared to a net loss of approximately $964,000 in Q1 2024[161]. - Cash used in operating activities decreased to approximately $786,000 in Q1 2025 from approximately $1.1 million in Q1 2024, a reduction of $360,000[174]. - General and administrative expenses decreased by approximately $215,000 or 28% to approximately $544,000 in Q1 2025 from approximately $759,000 in Q1 2024[167]. - Sales and marketing expenses increased by approximately $49,000 or 12% to approximately $465,000 in Q1 2025, primarily due to increased online advertising costs[165]. Capital and Investment - The company has purchased approximately $103 million in Solana (SOL), including staking rewards, as part of its treasury strategy[133]. - The company aims to generate incremental revenue through staking SOL rewards and validator-based monetization[124]. - The company has invested approximately $103 million in SOL, including staking rewards, as part of its capital allocation strategy[157]. - The company entered into a securities purchase agreement for gross proceeds of approximately $24.0 million, issuing 315,838 shares of common stock at $46.00 per share[158]. - The company acquired Solsync Solutions Partnership, a SOL validator business, for $3.5 million, integrating its staking rewards into the company's revenue streams[159]. Treasury and Compliance - The company adopted a new treasury policy to allocate its treasury reserve primarily to digital assets, starting with SOL[146]. - The company regained compliance with Nasdaq's minimum closing bid price requirement, maintaining a minimum closing bid price of $1.00 per share for at least 10 consecutive trading days[140]. - A change in control occurred when DeFi Dev LLC and NS Corp purchased approximately 51.0% of the company's common stock for $4 million[141][142]. - The company issued approximately $42.0 million in convertible notes, which are convertible into common stock at a price of $68.19 per share[147][149]. Future Outlook - The company plans to focus on expanding net revenue retention (NRR) and average contract values (ACV) to enhance revenue predictability[134]. - The company plans to continue investing in research and development, sales and marketing, and general and administrative expenses to drive growth[172]. - The Company expects to continue generating operating losses as it focuses on revenue growth, but anticipates a decline in these losses as subscription software revenue increases[176]. Miscellaneous - The company serves hundreds of thousands of web users annually, applying for billions of dollars in debt financing, including over 10% of banks in America[118]. - The average fee earned per transaction is approximately 1% of the loan amount, generally earned at the time of closing[121]. - The Company recorded an impairment of approximately $83,000 related to the Groundbreaker brand during the fourth quarter of fiscal 2024, which has since been rebranded to Janover Connect[183]. - The Company does not believe inflation has materially affected its results of operations during the periods presented[189]. - The Company has not had any off-balance sheet arrangements during the periods presented[185]. - The Company’s revenue recognition follows ASC 606, ensuring that revenue is recognized when control of goods or services is transferred to customers[178]. - The Company’s cash consists of readily available checking accounts and short-term money market fund investments, with historical fluctuations in interest income being insignificant[188].

BOCA RATON, FL, May 08, 2025 (GLOBE NEWSWIRE) -- DeFi Development Corp. (Nasdaq: DFDV) (“DeFi Dev Corp” or the “Company”), or formally known as Janover Inc. (Nasdaq: JNVR), today announced the closing of its previously announced private investment in public equity (“PIPE”) financing. The PIPE resulted in gross proceeds of approximately $24 million to the Company, before placement agent fees and offering expenses. Pursuant to the terms of the securities purchase agreement, the Company sold 315,838 shares of ...

BOCA RATON, FL, May 05, 2025 (GLOBE NEWSWIRE) -- DeFi Development Corp. (Nasdaq: DFDV) (“DeFi Dev Corp” or the “Company”) the leading public-market vehicle for Solana (SOL) accumulation, today announced that it has entered into a definitive agreement to acquire a Solana validator business with an average delegated stake of approximately 500,000 SOL ($75.5 million). The purchase price of $3.5 million will be satisfied through a combination of $3 million in restricted DFDV stock and $500,000 in cash. Upon com ...

BOCA RATON, FL, May 02, 2025 (GLOBE NEWSWIRE) -- DeFi Development Corp. (Nasdaq: JNVR) (“DeFi Dev Corp” or the “Company”) announced today that it will begin trading under its new ticker symbol “DFDV” on the Nasdaq Capital Market, effective at market open on May 5, 2025. The change reflects the Company’s previously announced corporate name change, deemed market effective by Nasdaq from May 5, 2025, and declared effective as of April 17, 2025 (as previously disclosed), and its strategic shift toward a crypto- ...

BOCA RATON, May 01, 2025 (GLOBE NEWSWIRE) -- DeFi Development Corp. (Nasdaq: JNVR) (“DeFi Dev Corp” or the “Company”) today announces that it has entered into a securities purchase agreement for a private investment in public equity (“PIPE”) financing that is expected to result in gross proceeds of approximately $24 million to the Company, before placement agent fees and offering expenses. Investors include Galaxy Digital, Amber International Holding Limited (Nasdaq: AMBR), Arrington Capital, Republic Digit ...

Core Viewpoint - DeFi Development Corporation has strategically acquired approximately 65,305 Solana (SOL) tokens, increasing its total holdings to about 317,273 SOL, valued at $48.2 million, which includes staking rewards [1][8]. Group 1: Acquisition Details - The recent purchase includes locked SOL sourced via BitGo's OTC desk, allowing the company to acquire tokens below market prices while aligning with the Solana ecosystem [1][3]. - Locked SOL refers to tokens under contractual restrictions that cannot be transferred on-chain until their unlock period expires, but can be traded over-the-counter [2]. Group 2: Treasury Policy - The company has adopted a treasury policy that allocates its principal holding in treasury reserves to Solana (SOL), providing investors access to the Solana ecosystem [4]. - The treasury policy aims to offer economic exposure to SOL investment for investors [4]. Group 3: Financial Metrics - Total SOL held by the company is 317,273, valued at approximately $48.2 million [8]. - The total shares outstanding are approximately 1.5 million, resulting in a SOL per share (SPS) of 0.22, valued at $32.88 per share, with a 40% growth in SPS compared to the last purchase [8].

BOCA RATON, FL, April 23, 2025 (GLOBE NEWSWIRE) -- DeFi Development Corporation (NASDAQ:JNVR) (the "Company") today announced the appointment of Fei "John" Han as Chief Financial Officer, as well as Dan Kang ("DK") as Head of Investor Relations. The new appointments underscore the Company's commitment to building a world-class financial and investor relations function as it scales its crypto-forward treasury strategy. Han brings over 15 years of experience across traditional finance and crypto, with a track ...

BOCA RATON, FL, April 22, 2025 (GLOBE NEWSWIRE) -- DeFi Development Corporation (NASDAQ:JNVR) (the "Company") today announced that it will host a live Twitter Spaces conversation on Thursday, April 24, 2025, at 11:30 a.m. Eastern Time, titled "Scaling Solana: Builders, Backers, & Believers." The conversation will bring together leading voices in the Solana ecosystem for a candid and in-depth discussion of Solana's growth, infrastructure, and capital markets trajectory. What Listeners Can Expect: A behind-th ...

Core Viewpoint - DeFi Development Corporation has strategically increased its investment in Solana (SOL) by purchasing 88,164 SOL for approximately $11.5 million, bringing its total holdings to 251,842 SOL valued at around $34.4 million, which includes staking rewards [1][3]. Group 1: Investment Strategy - The newly acquired SOL will be staked immediately to generate yield and enhance the security of the Solana network [1]. - This purchase is part of the company's recent $42 million financing round, indicating a proactive approach to capital deployment under favorable market conditions [1][2]. - The Board of Directors approved a treasury policy on April 4, 2025, focusing on the long-term accumulation of cryptoassets, starting with Solana [2]. Group 2: Financial Metrics - As of April 22, 2025, DeFi Development Corporation holds a total of 251,842 SOL valued at approximately $34.4 million [1][7]. - The total shares outstanding are 1,466,549, resulting in a SOL per share (SPS) of 0.17, valued at $23.47 per share, reflecting a 62% growth in SPS compared to the last purchase [7]. Group 3: Company Overview - DeFi Development Corporation aims to provide investors with access to the Solana ecosystem through its treasury policy, which allocates principal holdings to SOL [3]. - The company plans to operate one or more Solana validators to stake treasury assets, contributing to network security and reinvesting staking rewards [2].

Core Insights - Janover Inc. will host a live X Spaces conversation on April 18, 2025, focusing on NAV Premiums of crypto treasury vehicles and recent market activity [1] - The company has adopted a treasury policy allocating its principal holding to Solana (SOL), aiming to provide investors access to the Solana ecosystem [3] - Janover serves over one million web users annually, including various stakeholders in the commercial real estate industry, and offers data and software subscriptions on a SaaS basis [5] Company Overview - Janover Inc. is an AI-powered online platform connecting the commercial real estate industry by providing data, software subscriptions, and value-added services [4] - The company aims to provide economic exposure to SOL investment through its treasury policy [3] Leadership - The conversation will feature members of the senior leadership team, including Joseph Onorati (Chairman and CEO), Parker White (COO and CIO), and Dan Kang (Head of Investor Relations) [7]