Exodus posted a $32M Q1 loss after selling most of its Bitcoin treasury to fund a fintech acquisition.
Bitcoin News
Exodus Movement recorded a net loss of $32.1 million for Q1 2026, more than double the $12.9 million loss posted in the same period a year earlier. The crypto wallet company sold the majority of its Bitcoin (BTC) treasury during the quarter to fund an acquisition, raising $73.2 million in the process.
Total revenue for the three months ending March 31 came in at $22.7 million, down 36.8% from $36 million in Q1 2025. Exchange aggregation, the company's primary revenue driver, fell by $13.8 million, or 40.8%, as user trading volumes declined. Monthly active users slipped to 1.5 million from 1.6 million a year earlier, while quarterly funded users dropped 22.2% to 1.4 million from 1.8 million.
Exodus held 1,704 BTC at the end of December 2025. By March 31, that position had been reduced to 628 BTC, a cut of roughly 63%. Nearly all of the $73.2 million raised through those sales was directed toward the planned acquisition of W3C Corp., the holding company behind fintech firms Monavate and Baanx.
Exodus Launches XO Cash as Shares Retreat
The company's broader digital asset portfolio recorded a net loss of $36.4 million for the quarter, reflecting $76.8 million in unrealized losses partially offset by $40.4 million in realized gains on asset exchanges. Cash and cash equivalents rose to $72.9 million by the end of Q1, up from $4.9 million at the close of 2025.
Exodus attributed the revenue decline in part to macroeconomic conditions, including the Federal Reserve's revised growth outlook and uncertainty around US tariff policy. The company said it expects continued #volatility in digital asset prices to produce significant fluctuations in results in future quarters. Shares fell 5.75% to $7.71 on May 12 and dropped a further 3.11% to $7.47 in pre-market trading.
On the product side, Exodus launched XO Cash, a Solana (SOL)-based stablecoin toolkit developed with MoonPay. The tool allows AI agents to spend money through Visa's payment rails without exposing a user's private keys. Developers can create agent-linked wallets, set daily spending limits, restrict merchants, and issue virtual debit cards through Exodus Pay balances. Transactions settle in USD Coin (USDC) or USDt via Monavate infrastructure and carry no fees.
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