DeFi Development Corp. filed its Form 10-Q for the quarterly period ended September 30, 2026 with the Securities and Exchange Commission on November 12, 2026, reporting total assets of $458,060 thousand and total liabilities of $350,855 thousand as of that date.

Key Highlights

  • Total assets: According to the filing, total assets were $458,060 thousand as of September 30, 2026, up from $307,410 thousand as of December 31, 2025.
  • Digital assets pledged as collateral: The filing reported $225,933 thousand in digital assets pledged as collateral as of September 30, 2026, compared to $103,943 thousand at December 31, 2025.
  • Digital asset financing arrangements: Current liabilities included $225,933 thousand in digital asset financing arrangements, up from $67,521 thousand at December 31, 2025.
  • Long-term debt: The company disclosed long-term debt, net, of $120,998 thousand as of September 30, 2026, compared to $127,361 thousand at December 31, 2025.
  • Shares outstanding: As of November 12, 2026, the registrant had 40,053,477 shares of common stock issued and outstanding, par value $0.00001 per share.
  • Series C Preferred Stock: The filing reported 1,581,250 shares of Variable Rate Series C Perpetual Preferred Stock issued and outstanding as of September 30, 2026, with a stated value of $10.00 per share and a total mezzanine equity balance of $11,316 thousand.

DeFi Development Corp. Balance Sheet Details for September 30, 2026

DeFi Development Corp. (NASDAQ:DFDV), a Nevada-incorporated company headquartered in Boca Raton, Florida, filed its quarterly report covering the period ended September 30, 2026. According to the filing, total assets grew to $458,060 thousand from $307,410 thousand at December 31, 2025. Current assets were $251,230 thousand, with cash and cash equivalents of $11,241 thousand and investments of $1,868 thousand. Digital assets at fair value were reported at $117,727 thousand, while digital assets at carrying value, net, stood at $86,318 thousand.

On the liabilities side, the company reported total current liabilities of $229,857 thousand as of September 30, 2026, compared to $80,788 thousand at December 31, 2025. The increase was driven primarily by digital asset financing arrangements, which rose to $225,933 thousand from $67,521 thousand. Accounts payable and accrued expenses decreased to $3,756 thousand from $6,821 thousand. Total liabilities were $350,855 thousand at the end of the quarter.

The filing also disclosed a new mezzanine equity item: Variable Rate Series C Perpetual Preferred Stock with a par value of $0.00001 and a stated value of $10.00 per share, with 32,200,000 shares authorized and 1,581,250 shares issued and outstanding as of September 30, 2026, resulting in a mezzanine equity balance of $11,316 thousand. No such shares were outstanding at December 31, 2025. Common stock shares issued and outstanding increased to 38,382,831 as of September 30, 2026, from 29,892,800 at December 31, 2025. The company identified itself as a non-accelerated filer, smaller reporting company, and emerging growth company in the filing.

What Was Disclosed

DeFi Development Corp. filed its unaudited condensed consolidated balance sheet for the quarter ended September 30, 2026, showing total assets of $458,060 thousand, total liabilities of $350,855 thousand, and the introduction of Series C Perpetual Preferred Stock as a new mezzanine equity class.