Exodus Movement, Inc. Q3 FY2025 Earnings Call

· Earnings call transcript and AI-powered summary

  • Revenue: $30.3 million for Q3 2025, representing 51% year-over-year (YoY) growth compared to Q3 2024, driven by higher digital asset prices and strategic partnership expansion.
  • Swap Volume: $1.75 billion in total swap volume for the quarter, up 82% YoY. Business-to-business (B2B) swaps contributed $496 million (28% of total volume).
  • Revenue Composition: Non-exchange related revenue, including staking and ExoPay, exceeded 10% of total revenue for the first time in a significant period.
  • User Metrics:
    • Monthly Active Users (MAUs): 1.5 million, flat from Q2 2025 but down 66% YoY.
    • Quarterly Funded Users (QFUs): 1.8 million, up 6% from the previous quarter and 20% YoY.
  • Balance Sheet Highlights:
    • Total digital and liquid assets: $315 million as of September 30, 2025.
    • 2,123 Bitcoin held.
    • Company remains debt-free.
  • Product & Strategic Developments:
    • Grateful Acquisition: A merchant payments startup focused on stablecoin transactions. The acquisition includes Grateful’s stablecoin-driven merchant checkout experience and a consumer payments app.

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Elizabeth Shores: Welcome to Exodus Movement, Inc.'s third quarter 2025 earnings call. I'm your host, Elizabeth Shores. Joining us again are Exodus Movement, Inc.'s co-founder and CEO, J.P. Richardson, and CFO, James Gernetzke. 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 at our earnings press release and our most recent Form 10-Q with the Securities and Exchange Commission, available on the Investor Relations portion of our website. We do not undertake any obligation to update forward-looking statements. Now you can feel free to visit our social media accounts on X or Reddit to submit any questions you may have about this quarter for our Investor Relations team after our call. And now our CEO will discuss our developments and our quarter. Take it away, J.P. J.P. Richardson: Thank you, Elizabeth. And thank you, everyone, for joining us this morning. I'm excited about the positive momentum in our business. We had a good quarter, and Exodus Movement, Inc. posted over $30 million in revenue this quarter. That's 51% year-over-year growth as consumers and industry partners continue to get value from Exodus Movement, Inc.'s products. We'll

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