DEFT
DeFi Technologies Inc.
There isn't enough reported data to score DEFT yet.
IREN
IREN Limited
There isn't enough reported data to score IREN yet.
DEFT Fundamentals
| Metric | Status |
|---|---|
| Unavailable | |
| Healthy | |
| N/A | |
| N/A |
DEFT's profitability is currently healthy. There isn't enough data to rate its revenue. Free cash flow and net leverage aren't meaningful measures for financial services companies like DEFT.
IREN Fundamentals
| Metric | Status |
|---|---|
| Under pressure | |
| Weak | |
| N/A | |
| N/A |
IREN's revenue and profitability are currently under pressure. Free cash flow and net leverage aren't meaningful measures for financial services companies like IREN.
DEFT PE Valuation
DEFT has no meaningful PE right now: it lost money over the past year.
IREN PE Valuation
IREN has no meaningful PE right now: it lost money over the past year.
DEFT Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Strong decline | |
| Decline | |
| Strongly weakening | |
| Limited | |
| Low |
Analysts expect DEFT's earnings and revenue to decline, with profitability weakening. However, they disagree widely on these estimates.
IREN Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses growing | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Low |
IREN has the edge over DEFT on the outlook, with more favorable revenue and profitability expectations.
DEFT Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $0.02 | -86% |
| Q4 2025 | $0.17 | +$0.24 |
| Q4 2024 | -$0.07 | -$0.01 |
| Q3 2024 | $0.19 | +$0.37 |
| Q2 2024 | $0.13 | +$0.32 |
| Q1 2024 | -$0.06 | +$0.17 |
| Q4 2023 | -$0.06 | +$0.17 |
| Q3 2023 | -$0.18 | +$0.08 |
| Q2 2023 | -$0.19 | +$0.07 |
DEFT has the stronger earnings trend. Trailing diluted EPS is up 183% for DEFT versus IREN down 347%.
IREN Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | -$3.96 | -347% |
| Q2 2026 | -$2.22 | -988% |
| Q1 2026 | $0.51 | +$1.10 |
| Q4 2025 | $1.18 | +$1.62 |
| Q3 2025 | $1.60 | +$1.99 |
| Q2 2025 | $0.25 | +$0.45 |
| Q1 2025 | -$0.59 | -$0.43 |
| Q4 2024 | -$0.44 | -$0.15 |
IREN has swung to a loss: it lost $3.96 per share over the past year, after a profit the year before.
DEFT Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2024 | $138.1M | +2558% |
| Q1 2023 | $12.5M | +875% |
| Q3 2020 | $1.6M | +1990% |
IREN has the stronger quarterly revenue trend. Revenue is down 73% for DEFT versus down 5.1% for IREN.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 11% | -39 points |
| Q4 2025 | 47% | N/A |
| Q3 2024 | 46% | N/A |
| Q2 2024 | 50% | -12 points |
| Q4 2023 | -40% | N/A |
| Q2 2023 | 62% | N/A |
| Q1 2023 | -82% | +518 points |
| Q1 2022 | -600% | N/A |
DEFT has the edge over IREN on profitability, with a higher operating margin.
IREN Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $228M | -5.1% |
| Q2 2026 | $137.2M | -27% |
| Q1 2026 | $144.8M | 0% |
| Q4 2025 | $184.7M | +59% |
| Q3 2025 | $240.3M | +355% |
| Q2 2025 | $187.3M | +230% |
| Q1 2025 | $144.8M | +168% |
| Q4 2024 | $116.1M | +176% |
IREN's revenue has held roughly level: $228M last quarter, down 5.1% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -82% | -50 points |
| Q2 2026 | -452% | -461 points |
| Q1 2026 | -161% | -180 points |
| Q4 2025 | -63% | -79 points |
| Q3 2025 | -32% | +57 points |
| Q2 2025 | 9% | +49 points |
| Q1 2025 | 19% | +8 points |
| Q4 2024 | 15% | +21 points |
IREN's operating margin was −82% last quarter, down 50 points from the same quarter a year ago.
DEFT Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q4 2025 | -$133.4M | -$58.6M |
| Q4 2024 | -$74.7M | -$73.3M |
| Q3 2024 | $8.7M | +$12.5M |
| Q2 2024 | $14.8M | +$19M |
| Q1 2024 | -$40.1M | -$32.6M |
| Q4 2023 | -$1.4M | -162% |
| Q3 2023 | -$3.9M | -$796K |
| Q2 2023 | -$4.2M | -$3.6M |
DEFT has the stronger cash trend. Its trailing FCF is down 327% versus its history, compared with IREN at down 479%.
IREN Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$1.6B | -$1.6B |
| Q2 2026 | $482.2M | +2895% |
| Q1 2026 | -$873.8M | -$523.1M |
| Q4 2025 | -$468M | -$334M |
| Q3 2025 | -$38M | +$349.4M |
| Q2 2025 | $16.1M | +$179M |
| Q1 2025 | -$350.7M | -$128.7M |
| Q4 2024 | -$134M | -$105.2M |
IREN's free cash flow was −$2.5B over the past year, against −$507M the year before. Free cash flow isn't a meaningful measure for financial services companies like IREN.
DEFT Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +7.5% | +28.4M shares |
| 1 year | +22% | +73.1M shares |
| 3 years | +95% | +197M shares |
| 5 years | +853% | +363M shares |
| Available history | +878% | +364M shares |
DEFT has 406M diluted shares, up 22% from a year ago.
| Quarter | Spent |
|---|---|
| Q4 2024 | $1.7M |
| Q3 2024 | $499,859 |
| Q2 2024 | — |
| Q1 2024 | — |
| Q4 2023 | — |
| Q3 2023 | — |
| Q2 2023 | — |
| Q1 2023 | — |
IREN Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +26% | +82.4M shares |
| 1 year | +10% | +36.9M shares |
| 3 years | +511% | +333M shares |
| 5 years | +624% | +344M shares |
| Available history | +2346% | +382M shares |
IREN has the edge over DEFT on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q2 2025 | — |
| Q1 2025 | — |
| Q4 2024 | — |
| Q3 2024 | — |
| Q2 2024 | — |
| Q1 2024 | — |
| Q4 2023 | — |
| Q3 2023 | — |
DEFT Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2024 | -0.1x | Net Cash |
| Q2 2024 | -0.0x | Net Cash |
| Q4 2020 | -0.2x | Net Cash |
| Q3 2020 | -0.0x | Very low |
DEFT has more cash than debt. Net leverage isn't a meaningful measure for financial services companies like DEFT.
IREN Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q1 2026 | 157.6x | High |
| Q4 2025 | 22.2x | High |
| Q3 2025 | 4.1x | High |
| Q2 2025 | 2.0x | Moderate |
| Q1 2025 | 3.3x | Elevated |
| Q4 2024 | -4.6x | Net Cash |
| Q3 2024 | -16.7x | Net Cash |
| Q2 2024 | -15.9x | Net Cash |
IREN's net debt is more than 20 years of its operating earnings (EBITDA), up from 3.3 years a year ago. Net leverage isn't a meaningful measure for financial services companies like IREN.
DEFT Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 31.3 | Neutral |
| Stochastic | 1.7 | Oversold |
DEFT's weekly RSI is 31 (neutral) and its Stochastic is 2 (oversold).
IREN Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 33.3 | Neutral |
| Stochastic | 8.2 | Oversold |
IREN's weekly RSI is 33 (neutral) and its Stochastic is 8 (oversold).
DEFT PE vs Financial Services Sector
| Metric | DEFT | Sector median | Relative |
|---|---|---|---|
| PE | 2x | 13x | 85% below |
| PE % | 0 | 17 | 17 pts below |
DEFT has no meaningful PE right now: it lost money over the past year.
IREN PE vs Financial Services Sector
| Metric | IREN | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 13x | — |
IREN has no meaningful PE right now: it lost money over the past year.
DEFT Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $0.42 | 29% below |
| 20 week MA | $0.48 | 38% below |
| 50 week MA | $0.65 | 54% below |
IREN has stronger trend alignment. DEFT is above 0 of 3 weekly averages versus IREN above 1 of 5.
IREN Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $29.8 | 35% below |
| 20 week MA | $36.2 | 46% below |
| 50 week MA | $42.8 | 54% below |
| 100 week MA | $32.0 | 39% below |
| 200 week MA | $19.1 | 2.1% above |
IREN has fallen below most of its moving averages, though it's still 2.1% above its 200-week average.
DEFT Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2025 | $3.98 | $0.82 | -79% |
| 2026 YTD | $0.82 | $0.30 | -63% |
DEFT has finished every year since 2025 lower, and it's down 63% so far in 2026.
IREN Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2021 | $24.8 | $17.2 | -31% |
| 2022 | $17.2 | $1.19 | -93% |
| 2023 | $1.19 | $7.15 | +501% |
| 2024 | $7.15 | $10.7 | +50% |
| 2025 | $10.7 | $40.3 | +276% |
| 2026 YTD | $40.3 | $19.5 | -52% |
IREN has the edge over DEFT on returns for 2026, with the stronger performance.