Solana Treasury Firm DeFi Development Reports Q1 2026 Shareholder Letter

DeFi Development, a Nasdaq-listed Solana treasury company, has released its Q1 2026 shareholder letter. According to Foresight News, as of May 13, the company's Solana per share (SPS) stood at 0.067, marking a 108% increase year-over-year and a 1% rise since March 30. The company repurchased convertible bonds maturing in July 2030, with a principal amount of approximately $4.4 million, at a 41% discount for around $2.6 million in cash. The company reaffirmed its June SPS target of 0.075 (fully converted) and maintained its long-term goal of achieving 1 SPS by December 2028. As of May 13, the total amount of SOL and SOL equivalents held by the company was 2,294,576, reflecting a 3% increase since March 30. Additionally, the company disclosed estimated SPS contributions from non-MSTR model businesses, including validator operations, partnerships, on-chain treasury deployments, and the Treasury Accelerator.