DeFi Development - Public Comps and Valuation Multiples

DeFi Development Overview

About DeFi Development

DeFi Development Corp is an AI-powered online platform that connects the commercial real estate industry by providing data and software subscriptions as well as value-add services to multifamily and commercial property professionals.

Founded

2018

HQ

Employees

Website

defidevcorp.com

Sectors

Online Lending

Financials

LTM Revenue $9.2M

LTM EBITDA -$9.5M

EV

$282M

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DeFi Development Financials

As of December 2025, DeFi Development reported last 12-month revenue of $9.2M and EBITDA of -$9.5M.

In the same period, DeFi Development generated $9.0M in LTM gross profit and $28.2M in net income.

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DeFi Development P&L

In the most recent fiscal year, DeFi Development reported revenue of $2.1M and EBITDA of -$2.7M.

DeFi Development expects next 12-month revenue of XXX and NTM EBITDA of XXX

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	LTM	NTM	Last FY	FY 2026	FY 2027	FY 2028
Revenue	$9.2M	XXX	$2.1M	XXX	XXX	XXX
Gross Profit	$9.0M	XXX	$2.1M	XXX	XXX	XXX
Gross Margin	98%	XXX	98%	XXX	XXX	XXX
EBITDA	-$9.5M	XXX	-$2.7M	XXX	XXX	XXX
EBITDA Margin	-103%	XXX	-128%	XXX	XXX	XXX
EBIT	$38.4M	XXX	-$2.9M	XXX	XXX	XXX
EBIT Margin	418%	XXX	-139%	XXX	XXX	XXX
Net Profit	$28.2M	XXX	-$2.7M	XXX	XXX	XXX
Net Margin	307%	XXX	-130%	XXX	XXX	XXX
Net Debt	XXX	XXX	n/a	XXX	XXX	XXX

Financial data powered by Morningstar, Inc.

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Financial performance metrics for DeFi Development including revenue, profitability, and margin analysis across different time periods. The company reported last twelve months revenue of $9.2M. EBITDA for the last twelve months was -$9.5M. In the most recent fiscal year, DeFi Development achieved $2.1M in revenue and -$2.7M in EBITDA.
Financial Metric	Last Twelve Months (LTM)	Next Twelve Months (NTM)	Most Recent Fiscal Year	Current Fiscal Year (2026)	Next Fiscal Year (2027)	Two Years Forward (2028)
Total Revenue	$9.2M	Analyst estimates available to subscribers	$2.1M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit	$9.0M	Analyst estimates available to subscribers	$2.1M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit Margin	98.3% gross margin	Analyst estimates available to subscribers	98.5% gross profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA (Earnings Before Interest, Taxes, Depreciation, Amortization)	-$9.5M	Analyst estimates available to subscribers	-$2.7M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA Margin	-103.4% EBITDA margin	Analyst estimates available to subscribers	-128.4% EBITDA margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT (Earnings Before Interest and Taxes)	$38.4M	Analyst estimates available to subscribers	-$2.9M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT Margin	417.6% EBIT margin	Analyst estimates available to subscribers	-139.1% EBIT margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Income (Net Profit)	$28.2M	Analyst estimates available to subscribers	-$2.7M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Profit Margin	307.1% net profit margin	Analyst estimates available to subscribers	-129.9% net profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Debt Position	Detailed debt information available to subscribers	Detailed debt information available to subscribers	n/a	Detailed debt information available to subscribers	Detailed debt information available to subscribers	Detailed debt information available to subscribers

Financial Performance Summary for DeFi Development

This financial data table provides comprehensive performance metrics for DeFi Development, a company based in United States of America. The metrics include revenue, profitability measures, and operational efficiency indicators across multiple time periods.

Recent Performance Highlights

DeFi Development generated $9.2M in revenue over the last twelve months.
The company achieved -$9.5M in EBITDA over the last twelve months.
Gross profit for the last twelve months was $9.0M.
Net income over the last twelve months reached $28.2M.

Fiscal Year Performance

In the most recent fiscal year, DeFi Development reported $2.1M in total revenue.
Fiscal year EBITDA was -$2.7M.
The company maintained a gross profit margin of 98.5% in the most recent fiscal year.
EBITDA margin for the fiscal year was -128.4%.
Net profit margin reached -129.9% in the most recent fiscal year.

This financial data is sourced from Morningstar, Inc. and represents the most recent available information for DeFi Development. Forward-looking estimates and detailed financial projections are available through our premium subscription service.

DeFi Development Stock Performance

DeFi Development has current market cap of $161M, and EV of $282M.

Market Cap Evolution

DeFi Development Stock Data

As of January 2, 2026, DeFi Development's stock price is $5.

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EV	Market Cap	Price 1D	Price 1M	Price 3M	Price 12M	EPS
$282M	$161M	XXX	XXX	XXX	XXX	$1.75

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DeFi Development Valuation Multiples

DeFi Development's trades at 30.9x EV/Revenue multiple, and -29.7x EV/EBITDA.

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DeFi Development Financial Valuation Multiples

As of January 2, 2026, DeFi Development has market cap of $161M and EV of $282M.

Equity research analysts estimate DeFi Development's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

DeFi Development has a P/E ratio of 5.7x.

	LTM	NTM	Last FY	FY 2026	FY 2027	FY 2028
Market cap (current)	$161M	XXX	$161M	XXX	XXX	XXX
EV (current)	$282M	XXX	$282M	XXX	XXX	XXX
EV/Revenue	30.7x	XXX	30.9x	XXX	XXX	XXX
EV/EBITDA	-29.7x	XXX	-29.7x	XXX	XXX	XXX
EV/EBIT	7.4x	XXX	7.3x	XXX	XXX	XXX
EV/Gross Profit	31.3x	XXX	n/a	XXX	XXX	XXX
P/E	5.7x	XXX	5.7x	XXX	XXX	XXX
EV/FCF	-26.2x	XXX	-26.1x	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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DeFi Development Margins & Growth Rates

DeFi Development's last 12 month revenue growth is 104%

DeFi Development's revenue per employee in the last FY averaged $0.1M, while opex per employee averaged $0.2M for the same period.

DeFi Development's rule of 40 is -66% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

DeFi Development's rule of X is 155% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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DeFi Development Operational Valuation Multiples

	LTM	NTM	Last FY	FY 2026	FY 2027	FY 2028
Revenue Growth	104%	XXX	n/a	XXX	XXX	XXX
EBITDA Margin	-103%	XXX	-104%	XXX	XXX	XXX
EBITDA Growth	-16%	XXX	n/a	XXX	XXX	XXX
Rule of 40	-66%	XXX	-1%	XXX	XXX	XXX
Bessemer Rule of X	XXX	XXX	155%	XXX	XXX	XXX
Revenue per Employee	XXX	XXX	$0.1M	XXX	XXX	XXX
Opex per Employee	XXX	XXX	$0.2M	XXX	XXX	XXX
S&M Expenses to Revenue	XXX	XXX	10%	XXX	XXX	XXX
G&A Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
R&D Expenses to Revenue	XXX	XXX	31%	XXX	XXX	XXX
Opex to Revenue	XXX	XXX	238%	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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