CA - DeFi Technologies Inc. (DEFTF) Q1 2024 Earnings Call Transcript

2024-05-21 22:02:05 ET

DeFi Technologies Inc. (DEFTF)

Q1 2024 Earnings Conference Call

May 21, 2024, 12:00 PM ET

Company Participants

Jamie Frawley - VP, irlabs

Olivier Roussy Newton - CEO and Director

Russell Starr - Head of Capital Markets

Conference Call Participants

Presentation

Jamie Frawley

Thank you for joining us today. My name is Jamie Frawley, Vice President at irlabs and it's my pleasure to moderate this webinar on behalf of DeFi Technologies. We're here and fortunate to have Olivier Roussy Newton, CEO and Director; and Russell Starr, Head of Capital Markets on the panel today, and I'll turn it over to them shortly to present a review of the Q1 financials. [Operator Instructions]

And before I turn it over to Olivier and Russell, I'd like to remind everyone that certain statements made during today's presentation may contain forward-looking information within the meaning of applicable securities laws. Such statements may include estimates, projections, goals, forecasts or assumptions that are based on current expectations and are not representative of historical facts or information. We want to be clear that such forward-looking statements represent the company's beliefs about future events, plans or objectives, which are inherently uncertain and are subject to numerous risks and uncertainties that may cause the actual results, performance...

Russell Starr

Jamie?

Jamie Frawley

Yes.

Russell Starr

There's someone on the screen that claims they're me. They're not me, just so you can see it. They just dropped off. I don't know who it was.

Jamie Frawley

Okay. Thank you. And with that, I'm going to turn it over to Oli to kick us off. Over to you, Oli.

Olivier Roussy Newton

Thanks. Thanks, Jamie, and thanks, everyone, for tuning into our Q1 financial call. So I'll get things started here.

So starting with our financial highlights of Q1 2024. The company reported a cash balance of $9.4 million compared to $6.7 million in December 31 year-end. The company's venture portfolio investments were valued at $41.8 million as of March 31, 2024. AUM grew 78.7% to approximately $908 million as of March 31, 2024, up from $508 million as of December 31, 2023. Total operating revenues were $13.4 million for the Q1 2024 period....

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