Raydium reported Q3 2026 net revenue of $7.99 million, up 264.2% quarter over quarter, while treasury assets rose 150.1% to $243 million. According to Foresight News, the figures come from Raydium’s third-quarter report published by Blockworks, which attributed the revenue growth to increased tokenized-asset activity and a rebound in meme-token trading.

Operating cash flow increased 263.6% quarter over quarter to $8.67 million. Raydium’s programmatic RAY buybacks totaled $5.23 million, up 203.3%, bringing cumulative buybacks to $204 million, or 32.1% of circulating supply. Non-RAY reserves reached $72.55 million at quarter-end.

By product, CLMM net revenue rose 279.1% to $4.55 million, accounting for 56.9% of the total. LaunchLab revenue increased from $210,000 to $1.85 million, or 23.2% of total revenue, following the migration of tokenized-stock launch platform StonkFun. CPMM revenue grew 253.9% to $1.2 million, while AMM v4 revenue fell 13.4% to $390,000.

Raydium’s total trading volume increased 103% quarter over quarter to $19.99 billion. Tokenized-asset trading volume rose 90.9% to $3.99 billion and generated $2.66 million, or 45%, of swap fees, making it the protocol’s largest fee source. Raydium’s share of Solana’s tokenized-asset spot trading volume increased from 36.2% to 49.8%. During the quarter, it also introduced permissioned liquidity pools for compliant-asset trading and an “Any Token Pair” mode supporting custom-denominated assets.