Exodus Movement Inc(US:EXOD)2025-11-10 14:32Financial Data and Key Metrics Changes - Exodus reported Q3 revenue of $30.3 million, representing a 51% year-over-year growth, driven by higher digital asset prices and increased consumer and industry partner engagement [3][9] - Q3 swap volume reached $1.75 billion, an 82% increase from the prior year, with B2B swaps contributing $496 million, accounting for 28% of the quarterly volume [9] - Non-exchange-related revenue exceeded 10% of total revenue for the first time, primarily due to improvements in staking, particularly in Solana staking [9][10] - Monthly active users remained at 1.5 million, a 6% decrease year-over-year, while quarterly funded users increased to 1.8 million, up 20% from a year ago [10][11] - Digital and liquid assets totaled $315 million, with Exodus maintaining a debt-free position and increasing its Bitcoin holdings to 2,123 Bitcoin [11] Business Line Data and Key Metrics Changes - The acquisition of Grateful is expected to enhance Exodus's payment strategy, providing tools for merchant checkout experiences based on stablecoins [4][11] - The company has signed 16 partnerships in the industry, with 10 already producing results, indicating growing traction in its traditional crypto business and XO Swap [5][9] Market Data and Key Metrics Changes - The overall economic environment for the quarter was supported by rising prices of Bitcoin and Ethereum, with stablecoin and real-world asset tokenization adoption seen as key future catalysts [7][8] Company Strategy and Development Direction - Exodus aims to evolve beyond a crypto wallet, positioning itself as a comprehensive financial app for payments and money transfers, leveraging stablecoins for transactions [3][4] - The company is exploring the potential for a Bitcoin dividend to reward shareholders and promote the adoption of its products [12][13] - The integration of Grateful is seen as a strategic move to penetrate the traditional payment space and enhance the user experience across jurisdictions [11][26] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future, highlighting the significant opportunity in Latin America for stablecoin-based payments, particularly in countries with high inflation like Argentina [28][34] - The focus is on creating a seamless user experience that integrates various financial services within a single app, catering to the preferences of younger generations [34][36] Other Important Information - The Grateful acquisition was a mix of cash and stock, with the financial impact expected to be modest but significant in terms of technology and market reach [18][19] - The company is actively pursuing a charter amendment to allow for the potential issuance of Bitcoin dividends to Class A stockholders [14] Q&A Session Summary Question: Can you elaborate on the Grateful acquisition and its integration timeline? - The Grateful acquisition is set to go live next month in Uruguay, focusing on merchant services and checkout experiences [17] Question: What is the monetization model for Grateful? - The short-term focus is on utility rather than immediate monetization, with potential for consumer services like loans and yield generation from stablecoins [25][26] Question: How significant is the opportunity in Latin America for stablecoin payments? - The opportunity is described as huge, particularly in high-inflation countries like Argentina, where stablecoins are in demand [28] Question: How will Exodus incentivize users to adopt its platform? - The strategy includes integrating with credit and debit cards, providing a seamless experience for users to manage their assets in one app [34][36]