Revenue and user metrics are deteriorating sharply, with no guidance provided. Monitor the Q2 2026 impact of Exodus Pay and the Monavate acquisition for signs of revenue diversification. The $122.6M cash position provides a cushion, but the core exchange business is in decline.
Price Chart
Executive Summary
Exodus reported preliminary Q1 2026 revenue of $22.7M, down 37% YoY from $36.0M, with a net loss on digital assets of $36.4M. The company's core exchange volume declined 22% sequentially and funded users dropped 18% QoQ, while the launch of Exodus Pay in April 2026 represents a strategic pivot toward less volatile revenue streams.
Key Financial Metrics
Key Facts
- Q1 2026 revenue $22.7M vs $36.0M in Q1 2025 (-37% YoY)
- Net loss on digital assets of $36.4M in Q1 2026
- Exchange volume $1.18B in Q1 2026, down 22% from Q4 2025
- Quarterly funded users 1.4M, down 18% from 1.7M in Q4 2025
- Monthly active users flat at 1.5M vs December 2025
- Digital assets, cash and equivalents $122.6M as of March 31, 2026
- Exodus Pay launched in all 50 U.S. states in April 2026
- B2B swap partners generated 15% of total quarterly revenue
Financial Impact
Revenue decline of $13.3M YoY (-37%) and $36.4M net loss on digital assets
Risk Factors
- Continued decline in crypto trading volumes and user engagement
- Net loss on digital assets could persist with market volatility
- Exodus Pay and Monavate acquisition may not offset core revenue decline
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3285918 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 30, 2026 26d ago | Court Ruling | $6.90 | awaiting T+60 | — | $5.22 (−24.35%) |
Aug 10, 2026 11w ago | 8-K | $4.99 | awaiting T+60 | — | $5.22 (−4.61%) |
Jul 27, 2026 13w ago | Press Release | $5.38 | awaiting T+60 | — | $5.22 (−2.97%) |
Jul 17, 2026 14w ago | Press Release | $4.64 $6.03 | ▲ +29.96% | ▲ +25.12% | $5.22 (+12.50%) |
May 11, 2026 24w ago | 8-K | $6.97 $5.33 | ▲ +23.53% | ▲ +27.91% | $5.22 (+25.11%) |
May 6, 2026 24w ago | Press Release | $8.18 $5.37 | ▼ −34.35% | ▼ −36.41% | $5.22 (−36.19%) |
May 5, 2026 24w ago | 8-K | $8.50 $5.34 | ▼ −37.18% | ▼ −39.92% | $5.22 (−38.59%) |
May 5, 2026 24w ago | Press Release | $8.50 $5.34 | ▼ −37.18% | ▼ −39.92% | $5.22 (−38.59%) |
May 1, 2026 25w ago | Press Release | $7.92 $5.09 | ▼ −35.73% | ▼ −37.59% | $5.22 (−34.09%) |
May 1, 2026 25w ago | Press Release | $7.92 $5.09 | ▼ −35.73% | ▼ −37.59% | $5.22 (−34.09%) |
US Market Status
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