Exodus Movement Q3 swings to net loss
EXOD•Exodus Movement reported an $8.3 million net loss for the third quarter, compared with net income of $17 million a year earlier. Revenue rose 7% to $32.5 million, beating the $29.34 million analyst estimate.
1. Quarterly results
Exodus Movement’s third-quarter revenue rose 7% year over year to $32.5 million, above the $29.34 million analyst consensus. The company reported an $8.3 million net loss, compared with a $17 million profit a year earlier, and adjusted EBITDA of negative $3.91 million.
2. Users and costs
Quarterly funded users rose 7.7% from the previous quarter to 1.4 million. Payment processing expenses were $9.5 million, a cost line not present in the prior-year quarter.
3. Cost outlook
The company expects to reduce combined annual costs by about $30 million going into 2027.
