Exodus Reports Third Quarter 2025 Results

Core Insights - Exodus Movement, Inc. reported a significant increase in revenue and net income for Q3 2025, with revenue reaching $30.3 million, a 51% increase from $20.1 million in Q3 2024, and net income soaring to $17.0 million, up 2,025% from $0.8 million in the same period last year [2][3]. Financial Performance - Revenue for Q3 2025 was $30.3 million compared to $20.1 million in Q3 2024, reflecting a 51% growth [2]. - Technology, development, and user support expenses increased to $17.0 million from $11.3 million, a 50% rise [2]. - General and administrative expenses rose significantly by 75%, from $8.5 million to $14.9 million [2]. - The company reported a net loss on digital assets of $21.0 million, a drastic change from a gain of $0.4 million, marking a 5,350% decline [2]. - The total net income for Q3 2025 was $17.0 million, a substantial increase of 2,025% from the previous year [2]. Acquisition and Strategic Moves - Exodus announced the acquisition of Grateful, a stablecoin payments orchestrator, aimed at enhancing payment solutions for merchants and consumers, particularly in emerging markets [3][4]. - The CEO emphasized the alignment of Grateful's technology and ethos with Exodus's mission to empower public control over commerce and payments [3]. User Metrics and Market Activity - The exchange provider processed a volume of $1.75 billion in Q3 2025, an 82% increase from Q3 2024 and a 27% increase from Q2 2025 [5]. - Monthly active users decreased by 6% to 1.5 million at the end of Q3 2025, down from 1.6 million in the previous year [5]. - Quarterly funded users increased by 20% to 1.8 million, up from 1.5 million as of September 30, 2024 [5]. - Digital and liquid assets totaled $314.7 million, including significant holdings in Bitcoin and Ether [5]. Operational Efficiency - The company maintained a full-time equivalent team of approximately 210 members, unchanged from the prior quarter [5]. - Customer response time averaged less than 60 minutes in Q3 2025, indicating efficient customer service operations [5].