DeFi Technologies (DEFT) reported net income late Thursday of $28.9 million, swinging from the loss of $22.3 million a year earlier.

Analysts polled by FactSet expected $9 million.

Revenue in the three months ended Dec. 31 rose to $20 million, from negative $19.3 million a year earlier.

Analysts polled by FactSet expected $21.8 million.

The company's shares fell 1.7% in after-hours trading.