Q1 2025 Exodus Movement Inc Earnings Call Transcript

May 12, 2025 / 08:30 PM GMT

Transcript 10-Q8-K

Key Points

Positve

Exodus Movement Inc (EXOD) reported its second-best quarter of revenue ever, with Q1 revenues reaching $36 million, a 24% increase year over year.
The company successfully launched Echo, a demo product using passkeys wallet technology, resulting in over 1.2 million passkeys wallets being created.
Exoswap, the multi-chain exchange aggregator, contributed significantly to Q1 performance, accounting for 30% of swap volume, up from 19% in Q4.
Exodus Movement Inc (EXOD) has a strong balance sheet with $238 million in digital and liquid assets and no debt.
The company is actively engaging in partnerships, with 7 active partnerships and 13 signed agreements, positioning Exoswap as a key revenue growth driver.

Negative

The price of major cryptocurrencies like Bitcoin, Ether, and Solana declined significantly in Q1, impacting overall market conditions.
Monthly active users decreased by 30% sequentially and 6% year over year, reflecting market fatigue and volatility.
Echo, while successful as a demo, is not expected to have a material impact on the business in the short term.
The revenue from Exoswap partnerships may experience short-term volatility due to the nature of partner promotional campaigns.
Despite a strong balance sheet, macroeconomic headwinds and regulatory uncertainties continue to pose challenges for the crypto industry.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

EXOD.A - Exodus Movement Inc
Q1 2025 Exodus Movement Inc Earnings Call
May 12, 2025 / 08:30PM GMT

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Presentation
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Unidentified_1 [1]
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Hi, everyone.

Thanks for being here and welcome to Exodus's first quarter 2025 earnings conference call. I'm your host, Elizabeth Shores, and with us today, our Exodus's co-founder and CEO JP Richardson, alongside CFO James Grantski.

Now during today's call, we may make forward-looking statements. The company cautions investors that any forward-looking statement involves risks and uncertainties and is not a guarantee of future performance. Actual results may vary materially from those expressed or implied in the forward-looking statements due to a variety of factors. These factors are described in forward-looking statements in our earnings press release and our most recent Form 10Q filed with the SEC, available on the

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