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Side-by-side financial comparison of DBV Technologies S.A. (DBVT) and DeFi Development Corp. (DFDV). Click either name above to swap in a different company.

DeFi Development Corp. is the larger business by last-quarter revenue ($4.6M vs $2.8M, roughly 1.7× DBV Technologies S.A.). DeFi Development Corp. runs the higher net margin — 1211.4% vs -1195.5%, a 2406.9% gap on every dollar of revenue. On growth, DeFi Development Corp. posted the faster year-over-year revenue change (647.2% vs 158.8%). Over the past eight quarters, DeFi Development Corp.'s revenue compounded faster (181.5% CAGR vs 12.4%).

DBV Technologies SA is a publicly owned French biopharmaceutical firm headquartered in Bagneux, France. DBV Technologies is known for developing "Viaskin" technology for administering allergens or antigens to intact skin while avoiding any transfer to the blood. Viaskin Peanut clinical development has received Fast Track designation from the US Food and Drug Administration.

Automotive Design and Development Ltd (ADD) was an English company responsible for the creation of the futuristic-looking Nova kit car. It was based in Southampton from 1971 to 1973 after which it moved to Accrington, Lancashire until 1975. ADD failed and the rights to the Nova were bought by Nova Cars in Mirfield, West Yorkshire in 1978, which continued until 1990. A low volume production run was made by Nova Developments in Cornwall in the 1990s and the company was sold to India-based Aerot...

DBVT vs DFDV — Head-to-Head

Bigger by revenue
DFDV
DFDV
1.7× larger
DFDV
$4.6M
$2.8M
DBVT
Growing faster (revenue YoY)
DFDV
DFDV
+488.4% gap
DFDV
647.2%
158.8%
DBVT
Higher net margin
DFDV
DFDV
2406.9% more per $
DFDV
1211.4%
-1195.5%
DBVT
Faster 2-yr revenue CAGR
DFDV
DFDV
Annualised
DFDV
181.5%
12.4%
DBVT

Income Statement — Q3 FY2025 vs Q3 FY2025

Metric
DBVT
DBVT
DFDV
DFDV
Revenue
$2.8M
$4.6M
Net Profit
$-33.2M
$56.0M
Gross Margin
98.1%
Operating Margin
-1235.7%
Net Margin
-1195.5%
1211.4%
Revenue YoY
158.8%
647.2%
Net Profit YoY
-8.9%
11995.1%
EPS (diluted)
$-0.24
$1.95

Green = leading value per metric. Periods may differ when fiscal calendars don't align.

8-Quarter Revenue & Profit Trend

Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.

Revenue
DBVT
DBVT
DFDV
DFDV
Q3 25
$2.8M
$4.6M
Q2 25
$1.5M
$2.0M
Q1 25
$287.2K
Q4 24
$628.9K
Q3 24
$619.0K
Q2 24
$1.2M
$441.0K
Q1 24
$1.4M
$411.1K
Q4 23
$8.9M
Net Profit
DBVT
DBVT
DFDV
DFDV
Q3 25
$-33.2M
$56.0M
Q2 25
$-41.9M
$15.4M
Q1 25
$-778.0K
Q4 24
$-487.0K
Q3 24
$-471.0K
Q2 24
$-33.1M
$-805.0K
Q1 24
$-27.3M
$-964.0K
Q4 23
$134.3M
Gross Margin
DBVT
DBVT
DFDV
DFDV
Q3 25
98.1%
Q2 25
98.6%
Q1 25
Q4 24
98.8%
Q3 24
98.7%
Q2 24
98.2%
Q1 24
97.9%
Q4 23
Operating Margin
DBVT
DBVT
DFDV
DFDV
Q3 25
-1235.7%
Q2 25
-2806.2%
Q1 25
-307.5%
Q4 24
-107.9%
Q3 24
-73.3%
Q2 24
-2914.9%
-193.2%
Q1 24
-2029.7%
-247.7%
Q4 23
-134.3%
Net Margin
DBVT
DBVT
DFDV
DFDV
Q3 25
-1195.5%
1211.4%
Q2 25
-2858.4%
777.0%
Q1 25
-270.9%
Q4 24
-77.4%
Q3 24
-76.1%
Q2 24
-2852.4%
-182.5%
Q1 24
-1943.5%
-234.5%
Q4 23
1512.8%
EPS (diluted)
DBVT
DBVT
DFDV
DFDV
Q3 25
$-0.24
$1.95
Q2 25
$-0.31
$0.84
Q1 25
$-0.55
Q4 24
$0.55
Q3 24
$-0.05
Q2 24
$-0.34
$-0.08
Q1 24
$-0.28
$-0.70
Q4 23
$-0.11

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
DBVT
DBVT
DFDV
DFDV
Cash + ST InvestmentsLiquidity on hand
$69.8M
$1.4M
Total DebtLower is stronger
$131.4M
Stockholders' EquityBook value
$52.9M
$243.8M
Total Assets
$110.5M
$480.0M
Debt / EquityLower = less leverage
0.54×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
DBVT
DBVT
DFDV
DFDV
Q3 25
$69.8M
$1.4M
Q2 25
$103.2M
$595.0K
Q1 25
$2.2M
Q4 24
$2.8M
Q3 24
$2.8M
Q2 24
$66.2M
$3.2M
Q1 24
$101.5M
$3.9M
Q4 23
$141.4M
Total Debt
DBVT
DBVT
DFDV
DFDV
Q3 25
$131.4M
Q2 25
$21.2M
Q1 25
Q4 24
$0
Q3 24
Q2 24
Q1 24
Q4 23
Stockholders' Equity
DBVT
DBVT
DFDV
DFDV
Q3 25
$52.9M
$243.8M
Q2 25
$86.2M
$79.6M
Q1 25
$2.8M
Q4 24
$3.5M
Q3 24
$4.0M
Q2 24
$79.1M
$4.3M
Q1 24
$111.7M
$5.0M
Q4 23
$140.2M
Total Assets
DBVT
DBVT
DFDV
DFDV
Q3 25
$110.5M
$480.0M
Q2 25
$143.4M
$107.2M
Q1 25
$4.2M
Q4 24
$4.4M
Q3 24
$4.5M
Q2 24
$114.2M
$4.8M
Q1 24
$145.9M
$5.5M
Q4 23
$183.0M
Debt / Equity
DBVT
DBVT
DFDV
DFDV
Q3 25
0.54×
Q2 25
0.27×
Q1 25
Q4 24
0.00×
Q3 24
Q2 24
Q1 24
Q4 23

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
DBVT
DBVT
DFDV
DFDV
Operating Cash FlowLast quarter
$-32.4M
$-5.0M
Free Cash FlowOCF − Capex
$-32.6M
FCF MarginFCF / Revenue
-1173.5%
Capex IntensityCapex / Revenue
4.2%
0.0%
Cash ConversionOCF / Net Profit
-0.09×
TTM Free Cash FlowTrailing 4 quarters
$-138.3M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
DBVT
DBVT
DFDV
DFDV
Q3 25
$-32.4M
$-5.0M
Q2 25
$-33.9M
$-1.3M
Q1 25
$-785.6K
Q4 24
$-2.4M
Q3 24
$-412.0K
Q2 24
$-35.1M
$-680.8K
Q1 24
$-34.7M
$-1.1M
Q4 23
$-13.7M
Free Cash Flow
DBVT
DBVT
DFDV
DFDV
Q3 25
$-32.6M
Q2 25
$-33.9M
Q1 25
Q4 24
$-2.4M
Q3 24
Q2 24
$-35.8M
$-687.4K
Q1 24
$-36.0M
$-1.2M
Q4 23
$-14.0M
FCF Margin
DBVT
DBVT
DFDV
DFDV
Q3 25
-1173.5%
Q2 25
-2316.5%
Q1 25
Q4 24
-388.2%
Q3 24
Q2 24
-3084.0%
-155.9%
Q1 24
-2560.6%
-280.3%
Q4 23
-158.2%
Capex Intensity
DBVT
DBVT
DFDV
DFDV
Q3 25
4.2%
0.0%
Q2 25
2.2%
Q1 25
Q4 24
3.7%
Q3 24
0.0%
Q2 24
63.0%
1.5%
Q1 24
94.9%
1.6%
Q4 23
4.0%
Cash Conversion
DBVT
DBVT
DFDV
DFDV
Q3 25
-0.09×
Q2 25
-0.08×
Q1 25
Q4 24
Q3 24
Q2 24
Q1 24
Q4 23
-0.10×

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

Revenue Breakdown by Segment

DBVT
DBVT

Segment breakdown not available.

DFDV
DFDV

Digital Asset Treasury$3.8M82%
Other$831.0K18%

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