Exodus Movement (EXOD) Company Report

Exodus Movement, Inc. ended 2025 debt-free after fully paying off the debt incurred with Galaxy Digital as part of its announced acquisition of W3C.
As of December 31, 2025, selected digital asset holdings included 1,704 BTC, 1,898 ETH, and 12,473 SOL, all of which decreased from November 30, 2025.
Monthly Active Users (MAUs) remained stable at 1.5 million as of December 31, 2025.
Exchange provider processed swap volume for December 2025 was $360 million, with $75 million (21%) originating from XO Swap partners, compared to $549 million in November 2025.

Jan 8, 2026, 12:20 PM

Press Release

Exodus Movement Updates November 2025 Treasury and Monthly Metrics

EXOD

New Projects/Investments

Demand Weakening

M&A

Exodus Movement, Inc. reported its selected digital asset holdings as of November 30, 2025, which included 1,902 BTC, 2,802 ETH, and 31,050 SOL.
The company's Monthly Active Users (MAUs) decreased to 1.5 million as of November 30, 2025, down from 1.6 million in October 2025, and exchange provider processed swap volume for November 2025 was $549 million, a decrease from $683 million in October 2025.
CFO James Gernetzke noted that the company's treasury is being utilized for the W3C acquisition and remains available for strategic acquisitions.
Exodus will transition to issuing future monthly updates solely by press release, discontinuing corresponding Form 8-K filings.

Dec 9, 2025, 5:26 PM

Press Release

Exodus Movement, Inc. Announces November 2025 Treasury Update and Monthly Metrics

EXOD

M&A

New Projects/Investments

Demand Weakening

Exodus Movement, Inc. reported its November 2025 treasury update, with Bitcoin (BTC) holdings at 1,902 BTC and Solana (SOL) at 31,050 SOL as of November 30, 2025, both decreasing from the prior month, while Ethereum (ETH) increased to 2,802 ETH.
The company announced the acquisition of W3C, utilizing its digital asset holdings to facilitate the transaction.
Monthly Active Users (MAUs) decreased to 1.5 million as of November 30, 2025, from 1.6 million in October, and exchange provider processed volume for October 2025 was $549 million, down from $683 million.
Beginning with the next release, Exodus will transition to disclosing these monthly selected digital asset holdings and volume metrics solely by press release, discontinuing corresponding Form 8-K filings.

Dec 9, 2025, 12:23 PM

8-K

Exodus Movement Updates Digital Asset Holdings, User Metrics, and Announces Disclosure Change

EXOD

M&A

New Projects/Investments

Exodus Movement, Inc. reported its digital asset holdings as of November 30, 2025, which included 1,902 BTC, 2,802 ETH, and 31,050 SOL. Of the Bitcoin held, 1,116 BTC is pledged as collateral.
The company's Monthly Active Users (MAUs) decreased to 1.5 million as of November 30, 2025, compared to 1.6 million as of October 31, 2025.
For October 2025, Exodus' exchange provider processed volume was $549 million, with $200 million (36%) originating from XO Swap partners.
CFO James Gernetzke indicated that the company is utilizing its treasury for strategic acquisitions, such as the W3C acquisition, and maintains financing flexibility to address future cash requirements.
Exodus announced a transition to issuing its monthly updates on selected digital asset holdings, user, and exchange provider processed volume metrics solely via press release, discontinuing corresponding Form 8-K filings.

Dec 9, 2025, 12:20 PM

Press Release

Exodus Movement Agrees to Acquire W3C Corp

EXOD

M&A

New Projects/Investments

Revenue Acceleration/Inflection

Exodus Movement has agreed to acquire W3C Corp, the parent company of Monavate and Baanx, for $175 million in a deal expected to close in 2026 pending regulatory approval.
This acquisition will integrate card issuing, processing, and regulatory capabilities directly into Exodus's platform, allowing it to offer a full end-to-end payments experience, including the ability to issue payment cards through Visa, Mastercard, and Discover.
The deal is financed through cash reserves and a credit facility backed by Bitcoin holdings, aiming to enhance crypto payments for everyday use, broaden geographic reach in the U.S., U.K., and E.U., and diversify revenue streams through interchange and processing fees.
Exodus has already provided approximately $58.8 million to W3C Corp and may extend up to $10 million in additional financing for working capital needs.

Nov 24, 2025, 9:54 PM

Morningstar

Exodus Movement, Inc. Incurs $60 Million Debt

EXOD

Debt Issuance

New Projects/Investments

On November 17, 2025, Exodus Movement, Inc. incurred $60 million in indebtedness (the "November 2025 Loan") under its Master Digital Currency Loan Agreement with Galaxy Digital LLC.
The loan is denominated in U.S. Dollars and is secured by Bitcoin (BTC) pledged as collateral, with an initial collateral level of 150% of the loan amount.
The November 2025 Loan bears an interest rate of 9% per annum and is structured as an evergreen facility with a 30-day recall or redelivery option.
The company drew down the proceeds to maintain readiness to deploy capital for potential future strategic transactions.

Nov 21, 2025, 9:01 PM

8-K

EXOD Reports Strong Q3 2025 Revenue and Exchange Volume Growth

EXOD

Earnings

Revenue Acceleration/Inflection

New Projects/Investments

EXOD reported $92.2 million in revenue for the first three quarters of 2025.
Q3 2025 exchange volume reached $1.75 billion, a substantial increase from $0.96 billion in Q3 2024, with 28% driven by XO Swap partnerships.
The company's treasury held 2,123 BTC as of September 30, 2025.
Cash, Treasury bills, and digital assets totaled approximately $315 million.
Monthly Active Users (MAUs) were 1.5 million and Quarterly Funded Users (QFUs) were 1.8 million in Q3 2025.

Nov 10, 2025, 1:30 PM

Presentation

Exodus Movement, Inc. Reports Third Quarter 2025 Results and Acquisition

EXOD

Earnings

M&A

New Projects/Investments

Exodus Movement, Inc. announced Q3 2025 revenue of $30.3 million and net income of $17.0 million.
The company's exchange provider processed volume reached $1.75 billion in Q3 2025, an increase of 82% from Q3 2024.
Exodus acquired Grateful, a stablecoin payments orchestrator, to expand stablecoin-based payments to consumers and merchants.
As of September 30, 2025, Exodus reported 1.5 million monthly active users and 1.8 million quarterly funded users, with digital assets and liquid assets totaling $314.7 million.

Nov 10, 2025, 1:03 PM

8-K

Exodus Movement, Inc. Reports Third Quarter 2025 Results and Announces Grateful Acquisition

EXOD

Earnings

M&A

Revenue Acceleration/Inflection

Exodus Movement, Inc. reported revenue of $30.3 million for the third quarter ended September 30, 2025, marking a 51% increase from Q3 2024. Net income surged by 2,025% to $17.0 million for the same period.
The company announced the acquisition of Grateful, a stablecoin payments orchestrator, aimed at expanding stablecoin-based payments to consumers and merchants.
Exchange provider processed volume reached $1.75 billion in Q3 2025, an 82% increase compared to Q3 2024 and a 27% increase from Q2 2025.
As of September 30, 2025, Exodus reported 1.8 million quarterly funded users, an increase of 20% from the prior year, while monthly active users decreased by 6% to 1.5 million. Total digital and liquid assets stood at $314.7 million.

Nov 10, 2025, 1:00 PM

Press Release

Exodus Movement Acquires Grateful

EXOD

M&A

New Projects/Investments

Exodus Movement, Inc. (NYSE American: EXOD) has agreed to acquire Grateful, a Uruguay-based stablecoin payments orchestrator for merchants.
The acquisition aims to strengthen Exodus’ merchant services capabilities in Latin America, enabling lower fees, instant access to funds, and yield on balances for merchants.
Grateful's technology, which empowers small businesses and independent workers to accept and manage digital payments via stablecoins, will be seamlessly integrated into Exodus’ existing wallets and technology stack.

Nov 10, 2025, 12:20 PM

Press Release