Exodus Movement, Inc. Q4 2025 Earnings Call Summary

Core Insights - The company is shifting its business model from crypto speculation and swap fees to a 'daily utility' payments company [1] - Annual revenue grew by 5% to $121.6 million, driven by B2B expansion and improved monetization, which offset softening retail activity late in the year [1] - The acquisition of W3C is central to a vertical integration strategy aimed at owning the full payment stack from self-custodial wallets to point-of-sale terminals [1] Business Developments - ExoSwap has become a critical B2B infrastructure component, now representing 26% of total quarterly volume through 18 signed partnerships including MetaMask and Ledger [1] - AI is being integrated operationally to accelerate code development and strategically as a future customer class where 'AI agents' will require wallet infrastructure [1] - The company is leveraging its New York Stock Exchange listing to access a broader investor base that was previously restricted from OTC markets [1]