Quarterly ResultMay 11, 2026, 05:32 PM
Exodus Movement Q1 Revenue Down 36.8%; Net Loss Widens to $32.1M
AI Summary
Exodus Movement reported a significant decline in Q1 2026 revenue, falling 36.8% to $22.7 million, while its net loss widened to $32.1 million from $12.9 million in the prior year. The company saw a substantial increase in cash and cash equivalents to $72.9 million, but digital assets decreased to $48.2 million. Additionally, Exodus entered into over $80 million in loan agreements with W3C Corp. and adopted a new 2026 Equity Incentive Plan.
Key Highlights
- Net loss widened to $32.1 million in Q1 2026 from $12.9 million YoY.
- Revenue decreased 36.8% to $22.7 million in Q1 2026 from $36.0 million YoY.
- Cash and cash equivalents surged to $72.9 million from $4.9 million.
- Digital assets declined to $48.2 million from $156.4 million.
- Provided $70.0 million Term Facility and $10.0 million Delayed-Draw Term Facility to W3C Corp.
- Recognized $4.4 million interest income from W3C loan facilities.
- Adopted 2026 Equity Incentive Plan, reserving 4.28 million Class A shares.
- Loss on digital assets, net, was $36.4 million for the quarter.
Price Impact
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