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Exodus Movement, Inc. Class A (EXOD)
:EXOD
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Exodus Movement, Inc. Class A
(EXOD)
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Rating:82Outperform
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
Revenue Growth
Strong revenue growth indicates successful product adoption and market expansion, enhancing long-term business prospects.
Balance Sheet Health
A debt-free balance sheet provides financial stability and flexibility, allowing for strategic investments and resilience in downturns.
Product Innovation
Innovative products like XO Swap drive revenue diversification and growth, strengthening competitive positioning in the market.
Negative Factors
Cash Flow Concerns
Persistent negative cash flow could strain operations and limit growth investments, necessitating improved cash management strategies.
Revenue Concentration Risk
High dependency on a single revenue source poses risks if market conditions shift, underscoring the need for diversification.
Market Volatility Impact
Reliance on volatile cryptocurrency markets can lead to unpredictable financial performance, challenging long-term planning and stability.
Exodus Movement, Inc. Class A (EXOD) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$429.61M
Dividend YieldN/A
Average Volume (3M)133.65K
Price to Earnings (P/E)3.9
Beta (1Y)1.44
Revenue GrowthN/A
EPS GrowthN/A
CountryUS
Employees210
SectorTechnology
Sector Strength88
IndustrySoftware - Infrastructure
Share Statistics
EPS (TTM)0.53
Shares Outstanding9,859,366
10 Day Avg. Volume179,989
30 Day Avg. Volume133,647
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)3.18
Price to Sales (P/S)6.98
P/FCF Ratio-66.60
Enterprise Value/Market Cap1.97
Enterprise Value/Revenue6.12
Enterprise Value/Gross Profit9.07
Enterprise Value/Ebitda19.84
Forecast
1Y Price Target
$40.33Price Target Upside126.70% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering6
EPS Forecast (FY)1.32
Revenue Forecast (FY)$125.79M
Exodus Movement, Inc. Class A Business Overview & Revenue Model
Company DescriptionExodus 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 MoneyExodus 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 Earnings Call Summary
Earnings Call Date:Nov 10, 2025
(Q3-2025)
| % Change Since: |
Next Earnings Date:Mar 10, 2026
Earnings Call Sentiment Positive
Exodus Movement, Inc. reported strong financial growth and significant strategic initiatives, such as the acquisition of Grateful and expansion into new markets. However, a notable decline in monthly active users was observed, indicating potential challenges in user retention.Q3-2025 Updates
Positive Updates
Significant Revenue Growth
Exodus Movement, Inc. posted over $30 million in revenue for the quarter, marking a 51% year-over-year growth.
Strong Swap Volume Increase
The swap volume totaled $1.75 billion, an increase of 82% from the prior year quarter.
Grateful Acquisition
Exodus announced the acquisition of Grateful, enhancing their merchant checkout experience with stablecoins. The Grateful Payments app will go live next month in Argentina and Uruguay.
Expansion of Partnerships
Exodus signed 16 industry partnerships, with 10 already producing results, including integration with MetaMask.
Tokenization Initiatives
Exodus is exploring a Bitcoin dividend and has extended its common stock token to the Solana blockchain, indicating progress in tokenization.
Strong Balance Sheet
Exodus maintains a debt-free position with digital and liquid assets totaling $315 million and increased Bitcoin holdings.
Negative Updates
Decline in Monthly Active Users
Monthly active users ended at 1.5 million, a decrease of 66% from the previous year.
Company Guidance
During the third quarter of 2025 earnings call, Exodus Movement, Inc. shared notable metrics and developments reflecting significant growth and strategic advancements. The company reported a revenue of $30.3 million, marking a 51% increase year-over-year, driven by higher digital asset prices and an 82% increase in swap volume, totaling $1.75 billion. B2B swaps contributed $496 million, equating to 28% of the quarterly volume. The company also highlighted non-exchange related revenue, which exceeded 10% for the first time, thanks to improvements in Solana staking and traction from the ExoPay product. The number of quarterly funded users rose by 20% year-over-year to 1.8 million. Additionally, Exodus Movement, Inc. announced the acquisition of Grateful, a company focused on stablecoin-powered merchant experiences, with plans to go live in Argentina and Uruguay the following month. The balance sheet remained robust with $315 million in digital and liquid assets and a debt-free position, bolstered by an increase in Bitcoin holdings to 2,123 BTC. The company is also exploring the issuance of Bitcoin dividends to stockholders, further illustrating its pioneering approach in the crypto-financial ecosystem.Exodus Movement, Inc. Class A Financial Statement Overview
Summary
Exodus Movement, Inc. demonstrates strong financial performance with impressive revenue growth and profitability. The balance sheet is robust with no debt and high equity, indicating financial stability. However, the cash flow statement raises concerns with negative operating cash flow, which needs addressing to maintain financial strength.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.88
Very Positive
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.92
Very Positive
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.75
Positive
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 138.20M | 117.52M | 56.26M | 50.61M | 95.85M | 21.25M |
| Gross Profit | 93.25M | 117.52M | 25.74M | 21.93M | 73.15M | 12.45M |
| EBITDA | 42.65M | 37.31M | 11.80M | -5.80M | 51.48M | 6.96M |
| Net Income | 108.77M | 112.96M | 12.79M | -23.15M | -21.91M | 8.18M |
Balance Sheet | ||||||
| Total Assets | 338.45M | 288.00M | 111.72M | 89.21M | 108.75M | 20.75M |
| Cash, Cash Equivalents and Short-Term Investments | 50.80M | 68.39M | 54.54M | 52.48M | 50.67M | 2.61M |
| Total Debt | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 538.00K |
| Total Liabilities | 41.75M | 30.47M | 7.96M | 3.37M | 4.80M | 2.93M |
| Stockholders Equity | 296.70M | 257.53M | 103.76M | 85.84M | 103.96M | 17.82M |
Cash Flow | ||||||
| Free Cash Flow | -21.71M | -12.31M | 625.00K | 44.01M | 8.25M | 2.53M |
| Operating Cash Flow | -21.48M | -12.04M | 692.00K | 44.34M | 8.71M | 2.67M |
| Investing Cash Flow | 60.80M | 43.89M | -9.13M | -32.06M | -2.61M | -2.04M |
| Financing Cash Flow | -15.40M | -5.34M | -682.00K | 2.76M | -2.15M | -1.39M |
Exodus Movement, Inc. Class A Technical Analysis
Negative
17.79
Price Trends
24.38
Negative
26.94
Negative
32.36
Negative
Market Momentum
-2.72
Positive
42.04
Neutral
36.81
Neutral
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 17.79 is below the 20-day moving average (MA) of 19.20, below the 50-day MA of 24.38, and below the 200-day MA of 32.36, indicating a bearish trend. The MACD of -2.72 indicates Positive momentum. The RSI at 42.04 is Neutral, neither overbought nor oversold. The STOCH value of 36.81 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for EXOD.
Exodus Movement, Inc. Class A Risk Analysis
Exodus Movement, Inc. Class A disclosed 57 risk factors in its most recent earnings report. Exodus Movement, Inc. Class A reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Exodus Movement, Inc. Class A Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
82 Outperform | $429.61M | 3.90 | 44.59% | ― | ― | ― | |
68 Neutral | $450.54M | 11.88 | 26.84% | ― | -6.57% | -29.62% | |
66 Neutral | $3.09B | 10.70 | 23.10% | ― | 7.25% | -1.12% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
61 Neutral | $14.20B | 94.99 | 2.61% | ― | 12.68% | ― | |
61 Neutral | $2.78B | ― | 0.58% | ― | 24.71% | 99.52% | |
47 Neutral | $464.76M | ― | -48.63% | ― | 101.97% | 58.61% |
* Technology Sector Average
EXOD
Exodus Movement, Inc. Class A
17.79
-3.86
-17.83%
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Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.