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Exodus Movement, Inc. reported a sharp swing to losses while closing a major acquisition and adding a new payments segment for the three and six months ended June 30, 2026. Revenue for the quarter was $26.2 million versus $25.8 million a year earlier, but six‑month revenue fell to $49.0 million from $61.8 million as Web3 services softened. The new Payment Processing segment, acquired in May 2026, contributed $5.0 million of revenue in the quarter.
The company posted a quarterly net loss of $18.6 million and a six‑month net loss of $50.8 million, compared with net income of $37.7 million and $24.8 million in the prior‑year periods. Results were heavily affected by a $43.4 million loss on digital assets, acquisition‑related transaction costs of about $29.5 million within general and administrative expenses, and higher partnership and payment processing costs, partly offset by a $20.4 million gain on debt extinguishment and $6.3 million of interest income. Total assets rose to $596.7 million, driven by the Monavate and Baanx acquisitions, which added large restricted cash of $333.9 million, customer deposit liabilities of $331.5 million, and goodwill of $98.8 million. Digital assets were carried at $37.3 million fair value, down from $156.4 million at year‑end.
Exodus Movement, Inc. reported unaudited results for the quarter ended June 30, 2026. Revenue was $26.2 million, up slightly from $25.8 million a year earlier. Web3 platform expenses were $12.3 million and partnership expenses $3.7 million, while new payment processing expenses totaled $4.4 million.
General and administrative costs rose sharply to $44.7 million from $18.8 million, contributing to a shift from prior-year net income of $37.7 million to a net loss of $18.6 million. Adjusted EBITDA was a loss of $6.7 million, compared with a loss of $2.3 million in the prior-year quarter.
Exodus completed what it describes as the most strategic acquisition in its history, adding the payment infrastructure of Monavate and Baanx, whose results were included beginning May 1, 2026. Operationally, Exodus ended the quarter with 1.4 million Monthly Active Users and 1.3 million Quarterly Funded Users, both down versus Q1 2026, and processed $1.1 billion in total swap volume. Monavate processed transactions on 1.1 million active cards with $0.6 billion in gross card transaction volume. Exodus also entered new marketing partnerships with UFC and Latin American streaming platforms DGO and SKY+.
Exodus Movement, Inc. approved a restructuring plan centered on a workforce reduction to align its cost structure with a strategic shift toward payments and continued integration of Baanx and Monavate. The plan affects approximately 77 employees and non-employee service providers, representing about 25% of the global workforce.
The company estimates $2.5–$3.5 million of pre-tax charges, primarily severance and related personnel costs, with most cash payments over the next 12 weeks. The plan is expected to be completed in the fourth quarter of 2026. Exodus also expects the actions to generate about $10–$13 million in annualized cash operating expense savings, with the full benefit anticipated in 2027, though actual costs, timing, and impacts may differ from current expectations.
Exodus Movement, Inc. completed the acquisition of Monavate Holdings Limited, Baanx.com Ltd, Baanx US Corp. and related assets and provides audited 2024–2025 financial statements for Monavate together with unaudited pro forma combined financial information.
Monavate generated £61,454k of revenue and a net loss of £8,203k in 2025, with net liabilities of £1,762k and significant customer cash held in segregated accounts. Exodus acquired Monavate and Baanx.com from UK receivers for $76.2 million via netting of W3C Loans and agreed to pay a further $30.0 million over four years for Baanx US and other assets. Pro forma 2025 combined revenue is $152,756k with a net loss of $53,612k, and pro forma Q1 2026 revenue and net loss are $30,563k and $32,621k, respectively, reflecting new goodwill and intangible assets recognized from the Transaction.
Exodus Movement director Margaret Knight reported an open-market sale of 135 shares of Class A Common Stock at $5.26 per share. This is a small transaction relative to her overall stake.
After the sale, she directly holds 12,698 shares, which include 1,080 restricted stock units granted on October 2, 2025 that vest in equal monthly installments through October 1, 2026. The sale represents about 1% of her reported holdings.
Exodus Movement, Inc. Chief Financial Officer James Gernetzke reported a routine tax-related share disposition tied to restricted stock unit vesting. In connection with RSUs settling under the company’s equity incentive plans, 5,479 shares of Class A Common Stock were withheld at $5.17 per share to cover tax obligations, leaving him with 474,564 shares held directly.
Exodus Movement, Inc. Chief Executive Officer Jon Paul Richardson reported a tax-withholding disposition of 9,464 shares of Class A Common Stock. The shares were withheld by the company at a price of $5.17 per share in connection with the vesting and settlement of previously granted Restricted Stock Units.
After this transaction, Richardson directly holds 786,718 shares of Class A Common Stock. Footnotes indicate he also holds RSUs that vest in monthly installments through 2027, 2028, and 2029, each RSU representing the right to receive one share upon settlement.
Exodus Movement, Inc. reported that President, 3ZERO Daniel Castagnoli had 8,892 shares of Class A Common Stock withheld at $5.17 per share to cover tax obligations tied to vesting restricted stock units. These shares were delivered to the company rather than sold in the market.
After this tax-withholding disposition, Castagnoli directly holds 710,425 shares of Class A Common Stock. Footnotes show ongoing equity incentives, including 78,125 RSUs vesting monthly through January 1, 2027, 115,031 RSUs vesting monthly through January 1, 2028, and 40,062 RSUs vesting monthly through January 1, 2029, each RSU settling into one share.
Exodus Movement, Inc. reported proposed resales of Common Stock by a selling stockholder. The excerpt lists three sales by Margaret Knight: $882.90 on 04/01/2026, $1,015.20 on 05/01/2026, and $909.90 on 06/01/2026, each for 135 shares. The securities include vested Restricted Stock Units issued under equity compensation.
Exodus Movement, Inc. Chief Financial Officer James Gernetzke had 5,479 shares of Class A common stock withheld on June 1, 2026 to cover tax obligations tied to vested restricted stock units. The shares were valued at $7.12 each on the vesting date.
After this tax-withholding disposition, Gernetzke holds 480,043 shares of Class A common stock directly, including multiple ongoing RSU awards that vest in monthly installments through dates extending to January 1, 2030.