DeFi Development reported a net loss of $83.4 million in the first quarter, but its SOL holdings per share increased by 108% in one year.

On May 14, according to The Block, Solana treasury company DeFi Development Corp reported that despite an expanded loss in the first quarter, its SOL holdings per share increased by 108% over the past year, rising from 0.0322 to 0.0670. As of May 13, the company held approximately 2.2946 million SOL and equivalents. CEO Joseph Onorati stated that the company achieved growth through strategies such as internal staking, operating joint validator nodes in partnership with Bonk, and deploying over 25% of its treasury on-chain, believing that the strategy is a starting point, not a ceiling. The company's first-quarter revenue was $2.66 million, an 827% year-over-year increase, but its net loss was $83.4 million, compared to $778,000 in the same period last year, primarily affected by the decline in SOL prices. The company reiterated its target of 0.075 SOL per share by June 2026 and 1.0 SOL by December 2028. DFDV's stock fell 3.13% to $4.65 on Wednesday, down 64% over the past year.