DeFi Development Unveils Bold $100 Million Buyback Plan

Core Points - DeFi Development Corp. has approved a significant expansion of its share repurchase program, increasing the authorization from $1 million to $100 million [1][2] - The program allows for the repurchase of common shares in the open market, subject to market conditions and regulatory requirements [1] - The initial limit for repurchases is set at $10 million, requiring board notification for any further purchases [2] Financial Performance - In the second quarter, DeFi Development reported earnings of 84 cents per share, significantly exceeding the consensus estimate of a 2-cent loss, representing a 4,300% upside surprise [3] - The earnings result shows a substantial improvement compared to an 8-cent loss per share in the same quarter last year, reflecting a 1,150% improvement [3] - Quarterly revenue reached $1.99 million, surpassing analyst expectations of $705,500 by 181.5%, and sales increased by 350% from $441,000 in the prior year [3] Share Repurchase Details - The management will determine the timing, method, and volume of stock repurchases based on market conditions and other relevant factors [4] - Following the announcement, DFDV shares increased by 5.23% to $15.90 [4]