Welcome to our dedicated page for Exodus Movement news (Ticker: EXOD), a resource for investors and traders seeking the latest updates and insights on Exodus Movement stock.
Exodus Movement, Inc. reports developments tied to its self-custodial cryptocurrency and payments platform. The company provides tools to earn rewards, spend, manage and swap digital assets, and it also supplies crypto infrastructure for enterprise platforms.
Recurring news themes include financial results, Exodus Pay product expansion, XO Swap activity, and new payment products such as XO Cash and AgentKit for AI-agent wallets. Company updates also cover completed acquisitions of Monavate and Baanx businesses, which add card issuing, processing, settlement and regulated payments infrastructure to Exodus's consumer and enterprise product suite.
Exodus Movement reported impressive fiscal results for Q3 2021, with revenues of $18.1 million, up 155% year-over-year. The year-to-date revenue reached $69.4 million, marking a 407% increase compared to the same period last year. The company reported a net income of $9.2 million and diluted earnings per share of $0.32. With strong operational metrics, including 902,986 monthly active users and processed exchange volume of $1 billion, Exodus showcased significant growth and momentum heading into Q4. Additionally, a $2 million share repurchase program was announced.
Exodus Movement has announced a share repurchase program to buy back up to $2 million in Class A common stock at prices up to $55 per share. This strategic move reflects the company's strong financial position, with over $150 million in liquid assets, and aims to enhance shareholder value. The buyback is set to begin on November 18, 2021 and will continue until the maximum amount is repurchased or through December 2022. The company reported expected revenue of $69 million and net income of $29 million for the first nine months of 2021.