AcquisitionsMay 11, 2026, 04:44 PM

Exodus Closes Monavate, Baanx Acquisition; Q1 Revenue $22.7M

AI Summary

Exodus Movement, Inc. announced the successful closing of its acquisition of Monavate Holdings Limited and Baanx US Corp. and Baanx.com Ltd. on May 1, 2026. These entities are established providers of card and payments infrastructure. Concurrently, Exodus reported its unaudited Q1 2026 financial results, with revenue decreasing 37% to $22.7 million and net loss widening to $(32.1) million. The company also held its inaugural Shareholder Summit and provided operational updates.

Key Highlights

Closed acquisition of Monavate and Baanx, providers of card and payments infrastructure.
Q1 2026 revenue was $22.7 million, a 37% decrease from Q1 2025.
Reported a net loss of $(32.1) million in Q1 2026, a 149% increase in loss YoY.
Exchange provider processed volume was $1.18 billion, down 26% from Q4 2025.
Quarterly funded users decreased 18% to 1.4 million from Q4 2025.
Digital assets, cash, and cash equivalents totaled $122.6 million.
B2B swap partners generated $257 million in Q1 volume, 22% of total.

View SEC Filing

EXOD

Finance: Consumer Services

Exodus Movement, Inc.

Price Impact