Exodus Movement, Inc. Class A (EXOD) AI Stock Analysis

• Market Cap: $1.01B
• Dividend Yield: N/A
• Average Volume (3M): 85.98K
• Price to Earnings (P/E): 19.9
• Beta (1Y): 0.28
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: US
• Employees: 210
• Sector: Technology
• Sector Strength: 77
• Industry: Software - Infrastructure
• EPS (TTM): -0.45
• Shares Outstanding: 9,300,739
• 10 Day Avg. Volume: 172,643
• 30 Day Avg. Volume: 85,978
• PEG Ratio: 0.06
• Price to Book (P/B): 2.91
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -68.48
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: $58.75
• Price Target Upside: 17.20% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 4

• Rating: 82 Outperform
• Price Target: ―

Exodus Movement, Inc. demonstrates strong financial health, evidenced by robust revenue and profit growth, and a solid balance sheet. The positive sentiment from the earnings call further boosts confidence, despite the negative cash flow and dependency on exchange aggregation posing risks. Overall, the stock is well-positioned with potential for growth, though careful attention to cash flow management and diversification of revenue streams is recommended.

Positive Factors

Market Position

EXOD's B2B XO Swap business reported strong market share gains, capturing 30% of processed flow, which is an increase from 19%.

Partnership Expansion

Management inked two more XO Swap deals, lifting the roster to seven active partnerships and 13 contracted, enhancing credibility.

Revenue Growth

Exodus reported record revenue of $45m, up 123% compared to the previous quarter.

Negative Factors

Profit Contribution

B2B trading contributed ~30% of first-quarter volumes but just ~5% of gross profit.

Stock Price Performance

EXOD is down 28% since investors assumed the worst after the company initially preannounced revenue.

Trading Activity

Overall trading activity in the first quarter softened, with exchange processed volume easing to $2.2B from $2.3B.

Exodus Movement, Inc. Class A Business Overview & Revenue Model

Company Description

Exodus Movement, Inc. Class A (EXOD) is a technology company operating in the cryptocurrency and blockchain sector. It is primarily known for its multi-asset cryptocurrency wallet, which allows users to manage, exchange, and secure their digital assets. The company focuses on providing a user-friendly interface and experience, enabling users to interact with a wide range of cryptocurrencies and blockchain networks.

How the Company Makes Money

Exodus Movement, Inc. generates revenue through its cryptocurrency wallet services by charging a spread on transactions that occur within its platform. This means that when users exchange one cryptocurrency for another using the Exodus wallet, a small percentage of the transaction is taken as a fee by the company. Additionally, Exodus may earn revenues from partnerships with blockchain networks and other cryptocurrency-related services that integrate with its platform. The company focuses on expanding its user base and enhancing its features to drive more transactions and, consequently, increase its revenue.

Exodus Movement, Inc. Class A Financial Statement Overview

Summary

Exodus Movement, Inc. demonstrates strong financial health with impressive revenue growth and profitability, supported by a solid balance sheet with no debt and high equity. However, the negative operating cash flow in the latest period is a concern that needs to be addressed.

Income Statement

Exodus Movement, Inc. has shown impressive revenue growth, particularly in the latest year, with a significant jump from $56.2 million to $116.3 million, representing over 100% growth. The gross profit margin is robust at 100% due to no cost of sales being reported. The net profit margin has improved substantially, reaching 97.1% in 2024 from 22.8% the previous year, indicating excellent profitability. However, the absence of reported EBITDA in the most recent period is a notable omission. Overall, the company demonstrates strong financial performance on its income statement.

Balance Sheet

The balance sheet of Exodus Movement, Inc. is strong, with no debt reported, leading to a favorable debt-to-equity ratio of 0. The equity ratio is high at 89.4%, suggesting that a significant portion of the company's assets are financed by equity. Return on equity is impressive at 43.9%, reflecting the company's ability to generate returns for shareholders. Overall, the balance sheet indicates financial stability and minimal risk from leverage.

Cash Flow

The cash flow statement shows some concerns. While the company has had positive free cash flow in the past, the latest year records a negative free cash flow of $12.3 million. This is largely due to negative operating cash flow, which might be a concern if it persists. The operating cash flow to net income ratio is negative, indicating challenges in converting profit to cash flow. Despite these challenges, the company has a strong cash position, which can help navigate short-term issues.

Breakdown
Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement		Total Revenue
116.27M	56.19M	50.61M	95.85M	21.25M
	Gross Profit
116.27M	25.67M	21.93M	73.15M	11.71M
	EBIT
30.73M	8.39M	-6.16M	51.12M	6.83M
	EBITDA
0.00	7.53M	-20.63M	51.48M	6.96M
	Net Income Common Stockholders
112.96M	12.79M	-23.15M	-21.91M	8.18M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
37.90M	54.54M	20.49M	50.74M	2.61M
	Total Assets
288.00M	111.72M	89.21M	108.75M	20.75M
	Total Debt
0.00	0.00	0.00	0.00	538.00K
	Net Debt
-37.88M	-11.39M	-20.49M	-5.38M	-2.07M
	Total Liabilities
30.47M	7.96M	3.37M	4.80M	2.93M
	Stockholders Equity
257.53M	103.76M	85.84M	103.96M	17.82M
Cash Flow		Free Cash Flow
-12.31M	625.00K	44.01M	6.21M	625.00K
	Operating Cash Flow
-12.04M	692.00K	44.34M	8.71M	2.67M
	Investing Cash Flow
43.89M	-9.13M	-32.06M	-2.61M	-2.04M
	Financing Cash Flow
-5.34M	-682.00K	2.76M	-2.15M	-1.39M

Exodus Movement, Inc. Class A Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 50.13
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For EXOD, the sentiment is Negative. The current price of 50.13 is above the 20-day moving average (MA) of 39.73, above the 50-day MA of 41.62, and above the 200-day MA of 31.88, indicating a neutral trend. The MACD of -2.04 indicates Positive momentum. The RSI at 43.97 is Neutral, neither overbought nor oversold. The STOCH value of 13.38 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for EXOD.

Exodus Movement, Inc. Class A Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
EXOD	82 Outperform	$1.01B	19.86	20.56%	―	―	―
ATEN	73 Outperform	$1.23B	25.58	24.36%	1.40%	4.90%	9.91%
TUYA	70 Neutral	$1.58B	72.46	1.98%	2.42%	27.63%	―
BASE	65 Neutral	$988.94M	―	-57.86%	―	16.35%	14.27%
Sector *	61 Neutral	$11.29B	10.07	-7.05%	2.96%	7.47%	-10.75%
BKKT	51 Neutral	$164.29M	―	-60.94%	―	128.83%	73.67%
AISP	35 Underperform	$163.04M	―	-98.67%	―	―	―