Spark reports $31.5M in Q1 protocol revenue, buys back $986K in SPK

DeFi lending protocol Spark (SPK) has released its financial report for the first quarter of 2026 via its official X account. According to the report, the protocol's total revenue for the quarter was approximately $31.5 million, a 31% decrease from the previous quarter. Net income stood at $6.91 million, with an operating profit of $3.46 million. The value of the Spark protocol's treasury grew by 5.7% quarter-over-quarter to $46.1 million. The protocol also bought back approximately $986,000 worth of SPK through a new buyback program during the first quarter. Spark noted that the quarter ended with a surplus, describing the diversification and resilience of its protocol-level revenue sources as meaningful progress.