Quarterly UpdatesMay 13, 2026, 04:17 PM
DeFi Dev Corp. Q1 SPS up 108% Y/Y; Repurchases $4.4M Notes at 41% Discount
AI Summary
DeFi Development Corp. released its Q1 2026 Shareholder Letter and Business Update, reporting a significant increase in SOL per share (SPS) and a strategic debt repurchase. The company's SPS rose 108% year-over-year to 0.0670 as of May 13, 2026. DeFi Dev Corp. also repurchased approximately $4.4 million in principal of July 2030 Convertible Notes for $2.6 million, achieving a 41% discount. The company reaffirmed its June 2026 guidance of 0.075 SPS and its long-term target of 1.0 SPS by December 2028.
Key Highlights
- Repurchased $4.4 million principal of July 2030 Convertible Notes for $2.6 million cash, a 41% discount.
- SOL per share (SPS) reached 0.0670 as of May 13, 2026, up 108% year-over-year.
- SPS increased 1% from March 30, 2026.
- Total SOL and SOL equivalents were 2,294,576 as of May 13, 2026, up 3% from March 30, 2026.
- Reaffirmed June 2026 guidance of 0.075 SPS (fully converted).
- Long-term target of 1.0 SPS by December 2028 remains unchanged.
- Provided estimated SPS contribution from non-MSTR-playbook initiatives.