Exodus Reports Preliminary First Quarter 2026 Results

Exodus Movement (NYSE American: EXOD) reported preliminary Q1 2026 results on May 1, 2026.

Rhea-AI Summary

Exodus Movement (NYSE American: EXOD) reported preliminary Q1 2026 results on May 1, 2026. Revenue was approximately $22.7 million for Q1 2026 versus $36.0 million in Q1 2025. The quarter included a $36.4 million net loss on digital assets and $122.6 million in digital assets, cash, and cash equivalents.

The company launched Exodus Pay across all 50 U.S. states in April 2026, reported 1.5 million monthly active users, and processed $1.18 billion exchange volume in Q1 2026.

Positive

• Revenue of $22.7M in Q1 2026 providing continuing top-line disclosure
• Digital assets, cash and cash equivalents of $122.6M as of March 31, 2026
• Exodus Pay launched across all 50 U.S. states in April 2026
• B2B swap partners accounted for 15% of quarterly exchange revenue

Negative

• Revenue declined from $36.0M in Q1 2025 to $22.7M in Q1 2026 (~37% decline)
• Net loss on digital assets of approximately $36.4M in Q1 2026
• Quarterly funded users fell 18% to 1.4 million at quarter-end
• Exchange processed volume of $1.18B in Q1 2026, down 22% from Q4 2025

Argus May 1 session

+5.40% close to close Open Argus

Details

News Market Reaction – EXOD

On May 1, the day this news came out, EXOD closed 5.40% above the previous close.

Data tracked by StockTitan Argus for the May 1 session.

Market Context

On May 1, the day this news came out, the stock closed 5.4% above the previous close. A strong posit...

Analysis

On May 1, the day this news came out, the stock closed 5.4% above the previous close. A strong positive reaction aligns with EXOD’s history of volatile responses to earnings updates, where moves averaged -6.8% over the last five reports. The preliminary Q1 2026 figures show lower revenue and a sizeable $36.4M digital-asset loss, so enthusiasm would likely focus on product expansion, B2B mix and balance-sheet strength, while prior post-earnings selloffs highlight the risk of sentiment reversing.

Key Figures

Q1 2026 revenue: $22.7 million Digital asset net loss: $36.4 million B2B revenue share: 15% +5 more

Q1 2026 revenue

$22.7 million

Preliminary first quarter 2026 revenue vs $36.0M in Q1 2025

Digital asset net loss

$36.4 million

Net loss on digital assets during Q1 2026

B2B revenue share

15%

B2B swap partners’ share of Q1 2026 total revenue

Exchange volume

$1.18 billion

Exchange provider processed volume in Q1 2026, down 22% from Q4 2025

Monthly active users

1.5 million

Exodus MAUs as of March 31, 2026, unchanged vs December 31, 2025

Quarterly funded users

1.4 million

Funded users at end of Q1 2026, down from 1.7M at December 31, 2025

Digital assets & cash

$122.6 million

Digital assets, cash and cash equivalents as of March 31, 2026

Full-time employees

220

Approximate full-time equivalent team members as of March 31, 2026

Previous Earnings Reports

5 past events · Latest: Mar 11

Same Type 5 events

1. Mar 11

   Q4 2025 earnings

   24h Move

   -8.7%

   Reported record 2025 revenue but a sizable Q4 net loss of $53.2M.

2. Nov 10

   Q3 2025 earnings

   24h Move

   +1.1%

   Q3 2025 revenue and net income grew sharply year over year.

3. Aug 11

   Q2 2025 earnings

   24h Move

   -7.5%

   Strong Q2 2025 revenue and net income contrasted with a negative price move.

4. May 12

   Q1 2025 earnings

   24h Move

   -22.6%

   Record Q1 revenue but a $12.9M net loss driven by digital-asset losses.

5. Mar 03

   FY 2024 results

   24h Move

   +3.7%

   FY 2024 revenue more than doubled with strong volume and user growth.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

self-custodial, self-custody, stablecoins, digital assets, +2 more

6 terms

self-custodial technical

"Exodus, a leading self-custodial cryptocurrency platform, today announced..."

Self-custodial describes a setup where an individual or entity holds and controls their own assets or credentials directly, rather than trusting a third party to store them. For investors, it means you have full control and responsibility—like holding the only key to a safe: greater autonomy and potentially lower counterparty risk, but also greater responsibility for secure storage, loss recovery, and personal security practices.

self-custody technical

"...without ever leaving self-custody."

Self-custody means an investor holds and controls their own financial assets—such as stocks, bonds, or digital tokens—rather than leaving them with a broker, bank, or other third party. It matters because it gives the owner full control and direct access (like keeping cash in a personal safe instead of a bank vault), but also shifts all responsibility for security, backups, and recovery to the individual, affecting risk and liquidity.

stablecoins financial

"...using USD-backed stablecoins, Bitcoin, and other digital assets."

Stablecoins are a type of digital currency designed to maintain a steady value, often linked to traditional currencies like the dollar or euro. They function like digital cash that offers the convenience of online transactions while avoiding the large price swings common with other cryptocurrencies. This stability makes them useful for investors and users who want a reliable way to store and transfer value without exposure to sudden market changes.

digital assets financial

"...digital dollars, Bitcoin, and other borderless digital assets without ever..."

Digital assets are electronic files or representations of value stored electronically, such as cryptocurrencies, digital tokens, or digital art. They matter to investors because they can be bought, sold, and used for transactions much like physical assets, but exist entirely in digital form, offering new opportunities for investment and financial innovation.

View in glossary

liquidity sources financial

"...best-execution routing across liquidity sources."

Liquidity sources are the ways a company or investor can quickly convert assets into cash or access cash when needed, such as bank lines, cash on hand, marketable securities, or credit facilities. They matter because having reliable access to cash is like keeping fuel in a car’s tank—it lets a business meet bills, seize opportunities, or survive shocks without selling assets at a loss, which directly affects financial stability and investor risk.

GAAP regulatory

"...financial statements prepared in accordance with U.S. generally accepted accounting principles (GAAP)..."

GAAP, or Generally Accepted Accounting Principles, are a set of standardized rules and guidelines that companies follow when preparing their financial statements. They ensure consistency, transparency, and comparability across different companies, making it easier for investors to understand and compare financial information accurately. This helps investors make informed decisions based on trustworthy and uniform financial reports.

View in glossary

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First Quarter 2026 Revenue of $22.7 million
Exodus Pay launches in all 50 states in April 2026

OMAHA, Neb., May 01, 2026 (GLOBE NEWSWIRE) -- Exodus Movement, Inc. (NYSE American: EXOD) ("Exodus"), a leading self-custodial cryptocurrency platform, today announced its preliminary unaudited results for the first quarter ended March 31, 2026.

These results are based on currently available information, are subject to the completion of the Company’s financial closing procedures and quarterly review, and may change materially.

Exodus continues to execute on its long-term strategy of expanding beyond its core exchange business, with a focus on building a more comprehensive financial platform rooted in self-custody. During the quarter and subsequent period, the Company advanced key initiatives designed to diversify revenue streams and reduce reliance on market-driven trading activity, including the April 2026 launch of Exodus Pay across all 50 U.S. states and various global markets

“We spent a decade building a wallet that millions of people trust with their crypto,” said JP Richardson, Co-Founder and CEO of Exodus. “Now, we are creating the last financial app you will ever need, letting anyone pay with digital dollars, Bitcoin, and other borderless digital assets without ever leaving self-custody.”

Selected Financial Highlights (Preliminary)

• Revenue of approximately $22.7 million for the first quarter of 2026, compared to $36.0 million in the first quarter of 2025
• Net loss on digital assets of approximately $36.4 million during the quarter, primarily reflecting market-driven price movements

B2B Infrastructure and Revenue Drivers

B2B swap partners generated exchange revenue representing 15% of the quarterly total revenue. XO Swap’s share of exchange volume has grown steadily since launch, reflecting demand for best-execution routing across liquidity sources.

First Quarter Operational and Other Financial Highlights

• Exchange provider processed volume - $1.18 billion in Q1 2026, down 22% from Q4 2025. Bitcoin, Tether (TRX Network), Tether (ETH Network), ETH, and USDC (ETH Network) were the top assets traded in Q1 2026, at 29%, 14%, 11%, 9%, and 7% of volume, respectively.
• Exodus monthly active users - 1.5 million as of March 31, 2026, unchanged from 1.5 million as of December 31, 2025.
• Exodus quarterly funded users - 1.4 million at end of Q1 2026, down 18% from 1.7 million as of December 31, 2025.
• Digital assets, cash, and cash equivalents - $122.6 million, including 628 units of Bitcoin valued at $42.8 million, 1,861 units of Ether valued at $3.9 million, and $74.4 million in cash and cash equivalents and stablecoins as of March 31, 2026.
• Full-time equivalent team members - approximately 220 as of March 31, 2026, up 5 from December 31, 2025.
• Customer response time - average response time of less than 60 minutes in Q1.
  

Market and Strategic Positioning

During the first quarter, the Company continued to operate in a challenging digital asset market environment, with lower trading activity levels impacting revenue. In response, Exodus remains focused on strengthening the resilience of its business model by expanding into adjacent products and services that are less dependent on market volatility.

The Company believes that its strong balance sheet and planned acquisitions position it to succeed through market cycles, including strategic initiatives such as the acquisition of Monavate and the continued rollout of Exodus Pay.

“While market conditions impacted activity levels during the quarter, we are focused on building a more durable and diversified platform,” said James Gernetzke, Chief Financial Officer of Exodus. “We believe our product expansion and capital position enable us to continue executing on our long-term strategy regardless of near-term market conditions.”

Investor Contact
investors@exodus.com

Media Contact
Aubrey Strobel / Elena Nisonoff
exodus@halcyonpr.xyz

Disclosure Information
Exodus may use its website and the following social media outlets as distribution channels of material nonpublic information about the Company. Financial and other important information regarding the Company is routinely accessible through and posted on the following: exodus.com/investors and exodus.com/blog, and social media platforms including X, Facebook, LinkedIn, and YouTube.

Information Regarding Preliminary Results

The Company’s results for the quarter ended March 31, 2026 are preliminary and subject to the completion of the Company’s financial closing procedures and review. Accordingly, the Company’s actual results may differ materially from the selected preliminary financial and operating metrics presented herein.

These preliminary results have been prepared by management based on currently available information and are subject to change as the Company completes its financial closing procedures and its independent registered public accounting firm completes its review. These preliminary results should not be viewed as a substitute for the Company’s full financial statements prepared in accordance with U.S. generally accepted accounting principles (GAAP), and undue reliance should not be placed on them.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, may be forward-looking statements. Forward-looking statements are based on our beliefs and assumptions and on information currently available to us as of the date hereof. In some cases, you can identify forward-looking statements by the following words: "will," "expect," "would," "should," "intend," "believe," "expect," "likely," "believes," "views," "estimates," or other comparable terminology. Forward-looking statements in this document include, but are not limited to, our preliminary financial information, including digital asset holdings, exchange provider processed volumes and our fiscal quarter end results, management statements regarding management’s confidence in our products, services, business trajectory and plans, including the acquisition of Monavate, and expectations regarding demand for our products, and our ability to deliver higher transaction volumes. Such forward-looking statements involve a number of risks, uncertainties and other important factors that could cause our actual results to differ materially from those expressed or implied by our forward-looking statements. Such factors include those set forth in “Item 1. Business” and “Item 1A. Risk Factors” of Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on March 11, 2026, as well as in our other reports filed with the SEC from time to time. All forward-looking statements are expressly qualified in their entirety by such cautionary statements. Readers are cautioned not to place undue reliance on such forward-looking statements. Except as required by law, we undertake no obligation to update or revise any forward-looking statements that have been made to reflect events or circumstances that arise after the date made or to reflect the occurrence of unanticipated events.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What were Exodus (EXOD) preliminary Q1 2026 revenue and key financials announced May 1, 2026?

Preliminary Q1 2026 revenue was approximately $22.7 million, with a $36.4 million net loss on digital assets. According to the company, digital assets, cash and cash equivalents totaled $122.6 million as of March 31, 2026.

How did Exodus report user and volume metrics for Q1 2026 for EXOD shareholders?

Exodus reported 1.5 million monthly active users and 1.4 million funded users at quarter-end. According to the company, exchange processed volume was $1.18 billion in Q1 2026, down 22% from Q4 2025.

What is Exodus Pay and when did EXOD roll it out across the U.S.?

Exodus launched Exodus Pay across all 50 U.S. states in April 2026. According to the company, the rollout aims to enable payments using digital dollars and crypto while preserving self-custody for users.

How did Exodus (EXOD) perform operationally during the challenging Q1 2026 crypto market?

Operations showed lower trading activity with exchange volume down and funded users falling 18%. According to the company, management is diversifying revenue via product rollouts, B2B swap partnerships, and planned acquisitions to reduce market dependence.

What does Exodus' balance sheet look like after Q1 2026 preliminary results for EXOD investors?

The company reported $122.6 million of digital assets, cash and cash equivalents, including 628 BTC valued at $42.8 million. According to the company, cash and stablecoins were about $74.4 million as of March 31, 2026.