Exodus Movement, Inc. (EXOD) Stock

Exodus Movement, Inc. (EXOD) is a Financials stock trading at $7.58 (as of 2026-08-21), with a market capitalization of $70.55M. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Exodus Movement, Inc. develops a non-custodial cryptocurrency software platform that provides a multi-asset wallet for securing, managing, and exchanging digital assets. The platform supports multiple cryptocurrencies, including Bitcoin and Ethereum, for users in the United States.

Understand Exodus Movement, Inc.: how it makes money

Exodus Movement runs a non-custodial multi-asset crypto wallet that helps users secure, manage, and exchange cryptocurrencies, and it is tied to crypto swap activity, including volumes associated with business-to-business swap partners.

The company’s core value capture is structurally linked to swap activity (tracked by B2B swap partners volume and the share of volume originating from XO Swap Partners), enabled by a large user base (Monthly Active Users).

Business quality (Weak): The latest quarter shows significant operating losses (operating margin -179.4%), while operational scale and swap-activity metrics are tracked (for example, 1.5M Monthly Active Users and B2B swap partners volume of 0.42 USD_B).

Bull case

  • Large user engagement base: Monthly Active Users are reported at 1,500,000.
  • Measured swap activity with partners: Business-to-Business Swap Partners Volume is reported at 0.42 USD_B, with partner-originating swap volume reported at 0.25 USD_B.
  • Partner involvement is a meaningful share of activity: Business-to-Business Swap Partners Share of Quarterly Volume is reported at 26%.

Bear case

  • Operating losses: The latest quarter operating margin is -179.4%, indicating the business is not currently profitable on an operating basis.
  • Dependence on swap flow dynamics: Key operating metrics emphasize swap volume (including partner-originated shares), so performance may be sensitive to changes in trading and partner-related throughput.
  • Passkeys adoption appears small versus overall scale: Passkeys Wallet Users included in Monthly Active Users is 9,000, which is small relative to 1,500,000 Monthly Active Users.
Valuation — source: SEC EDGAR (first-party)
Price$7.58
Market Cap$70.55M
Price / Book0.35
Price / Sales0.69
FCF Yield-104.7%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$121.55M
Net Margin-9.3%
Revenue Growth (YoY)4.5%
FCF Growth (YoY)109.7%
Financial Health — source: SEC EDGAR
Altman Z-Score3.44 (safe)
Valuation vs Sector & Industry
Sector P/E (Financials)15.1
Industry P/E (Banking)13.0
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderFTX Recovery Trust ($11.80M)
Institutional Holders Tracked10
Company
SectorFinancials
IndustryBanking
CEOJon Paul Richardson
Employees210
CountryUS
IPO Date2021-09-16

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EXOD earnings history · EXOD institutional & insider holders · EXOD KPIs & operating metrics · EXOD financials · EXOD investor presentations & press releases · EXOD SEC filings · EXOD peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-08-21.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.