Exodus Movement, Inc. Unaudited financial results have been announced by (NYSE American: EXOD), the leading Bitcoin and cryptocurrency self-custodial platform. financial results for Q1 2025The company has achieved record revenue, and its digital assets have increased significantly.
Exodus’s revenue grew by 24 percent to $36.0 millions, compared with $29.1 in its previous quarter. Q1 2024. This growth was attributed to the continued innovation of products and increased demand for self custody solutions. “Exodus continues to offer innovative solutions that capitalize on the growing market for digital assets,” said JP Richardson is the CEO and founder. “Meanwhile, our focus on self-custody remains a difference-maker.”
In addition to the revenue milestone, the company now holds 2,011 BTC, according to its Q1 filing—an increase of 70 BTC since December 31, 2024. The bitcoin The company has a total of $238.0 millions in digital assets and cash equivalents. It also has 2,693 ETH worth $4.9 million, and $62.8 in Treasury Bills and USD Coins.
Despite a decline in user activity—monthly active users dropped 30% to 1.6 million—Exodus maintained a strong user base, with 1.8 million funded users by quarter end. In Q1, the total amount of transactions processed was $2.18 billion.
Your expenses have increased dramatically. technologyExodus posted a net loss of $12.9 million, compared to a $54.8 million profit in Q1 2024. This was largely due to soaring costs for general administration and development. Exodus recorded a $12.9 million net loss, which is compared with a $54.8 millions net income for the first quarter of 2024. The loss was due largely to an $28.8million loss on digital asset.
Exodus’ leadership is still optimistic. “Q1 saw our highest first quarter revenue and second best revenue quarter on record,” said James Gernetzke, CFO. “With an abundance of opportunities at our doorstep, Exodus is well-positioned to expand within our industry and beyond, well into the future.”
The Q1 Results Webcast will take place on Tuesday, May 12 at 4:30 pm ET. You can access it at exodus.com/investors.
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: bitcoinmagazine.com
