Exodus Movement Reports 16% Revenue Growth to $25.8 Million in Q2 2025

Exodus Movement, Inc. reported a significant increase in financial performance for the second quarter of 2025, with revenues reaching $25.8 million, a 16% increase from $22.3 million in the same period last year. For the first half of 2025, total revenues amounted to $61.8 million, up 20% from $51.4 million in the first half of 2024. The growth was primarily driven by a 17% increase in exchange aggregation revenue, attributed to higher transaction volumes from business-to-business partnerships. However, the company also faced challenges, including a notable decline in consulting and NFT-related revenues, which decreased by 62% year-over-year.

The company's net income for the second quarter was $37.7 million, a substantial recovery from a net loss of $9.6 million in the same quarter of 2024. This turnaround was supported by a favorable fluctuation in the market price of digital assets, resulting in net realized gains of $1.2 million and net unrealized gains of $51.2 million. For the first half of 2025, net income was $24.8 million, down from $45.2 million in the prior year, reflecting the impact of lower revenues from certain segments and increased operational costs.

Operationally, Exodus reported a stable user base, maintaining 1.5 million monthly active users (MAUs) as of June 30, 2025, consistent with the previous year. However, the number of quarterly funded users (QFUs) increased by approximately 13%, reaching 1.7 million, indicating improved user engagement. The company also expanded its digital asset holdings, which rose to $233.2 million in fair value, up from $196.4 million at the end of 2024. This increase was primarily driven by a rise in Bitcoin and Ethereum valuations.

Exodus has been actively investing in its infrastructure and human capital, with technology and development expenses increasing by 37% year-over-year. General and administrative expenses also surged by 108%, largely due to heightened marketing efforts and legal costs associated with regulatory compliance. The company anticipates continued growth in operational expenses as it expands its workforce to support its business objectives and navigate the evolving regulatory landscape.

Looking ahead, Exodus remains optimistic about its growth trajectory, driven by increasing adoption of digital assets and blockchain technology. The company plans to continue enhancing its platform and expanding its partnerships, while also managing costs effectively. However, it acknowledges potential risks related to market volatility and regulatory changes that could impact its financial performance.