Spark Releases Q1 2026 Financial Report, Total Revenue $31.5 Million

According to Spark's Q1 2026 financial report, the protocol layer achieved total revenue of $31.5 million, net protocol revenue of $6.91 million, and net surplus of $3.46 million. By the end of the quarter, the treasury size reached $46.1 million, with approximately $986,000 worth of SPK tokens repurchased. The report revealed that income distributed from the USDS-related savings treasury amounted to approximately $3.31 million, surpassing Spark Liquidity Layer (SLL) for the first time to become the largest source of net revenue. SLL recorded total revenue of $27.6 million and net protocol revenue of $3.05 million under an average deployment of $1.93 billion. SparkLend's quarterly reserve factor income was $156,000. The report stated that the protocol maintained monthly profitability and adhered to prudent risk parameters amidst a narrowing DeFi yield spread.