EXOD Exodus
Price Chart
Executive Summary
Exodus reported full-year 2025 revenue of $121.6M, up 5% YoY, but Q4 2025 revenue plunged 34% to $29.5M amid declining crypto volumes and a 35% drop in monthly active users. Despite record annual revenue, the sharp quarterly deterioration, widening net loss ($53.2M in Q4 vs. $67M profit a year ago), and asset sales to fund the W3C acquisition paint a materially weakening operating picture. Preliminary Q1 2026 data shows early signs of stabilization with user count and volume modestly improving.
Key Financial Metrics
Actionable Insight
The sharp decline in Q4 revenue and users despite a rising crypto market suggests Exodus is losing market share. Traders should monitor Q1 2026 final results for confirmation of stabilization. The W3C acquisition could be transformative, but near-term execution risk is high given deteriorating fundamentals and treasury drawdowns.
Key Facts
- Q4 2025 revenue: $29.5M, down 34% YoY from $44.8M
- Full-year 2025 revenue: $121.6M, up 5% from $116.3M in 2024
- Q4 2025 net loss: $53.2M vs. $67.0M net income in Q4 2024
- Full-year 2025 net loss: $11.4M vs. $113.0M net income in 2024
- Monthly active users: 1.5M at end of Q4 2025, down 35% from 2.3M in Q4 2024
- Exodus repaid $60M debt in 2025, reducing Bitcoin treasury
- Preliminary Q1 2026: MAUs up to 1.6M, February volume at $435M
- Company selling digital assets and setting aside $70M for W3C acquisition closing
Financial Impact
Revenue down 34% YoY in Q4, net loss of $53.2M vs. prior-year profit of $67M; full-year net loss of $11.4M vs. $113M profit; operating expenses up sharply (G&A +68% annually)
Risk Factors
- Deteriorating user engagement and transaction volume
- Heavy reliance on future M&A (W3C) for growth amid weakening core business
- Continued asset sales could further erode treasury value
- Forward-looking metrics are preliminary and subject to material revision
Market Snapshot
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3254132 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
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May 11, 2026
4w ago
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8-K
| $6.97 $7.22 | ▼ −3.59% | ▼ −3.51% | $6.04 (+13.34%) |
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May 6, 2026
5w ago
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Press Release
| $8.18 $6.97 | ▼ −14.79% | ▼ −15.92% | $6.04 (−26.16%) |
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May 5, 2026
5w ago
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8-K
| $8.50 $7.71 | ▼ −9.29% | ▼ −11.28% | $6.04 (−28.94%) |
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May 5, 2026
5w ago
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Press Release
| $8.50 $6.97 | ▼ −18.00% | ▼ −19.98% | $6.04 (−28.94%) |
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May 1, 2026
6w ago
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Press Release
| $7.92 $7.71 | ▼ −2.65% | ▼ −5.59% | $6.04 (−23.74%) |
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May 1, 2026
6w ago
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Press Release
| $7.92 $7.71 | ▼ −2.65% | ▼ −5.59% | $6.04 (−23.74%) |
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May 1, 2026
6w ago
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Press Release
| $8.00 $7.58 | ▲ +5.25% | ▲ +7.60% | $6.04 (+24.50%) |
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Apr 28, 2026
6w ago
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8-K
| $7.36 $8.50 | ▲ +15.49% | ▲ +13.80% | $6.04 (−17.93%) |
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Apr 28, 2026
6w ago
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Press Release
| $7.36 $8.50 | ▲ +15.49% | ▲ +13.80% | $6.04 (−17.93%) |
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Apr 16, 2026
8w ago
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Press Release
| $7.28 $8.00 | ▲ +9.89% | ▲ +8.91% | $6.04 (−17.03%) |
US Market Status
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