secwatch.observer — SEC 8-K summary
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Issuer:     Exodus Movement, Inc. (EXOD)
CIK:        0001821534
Form:       8-K
Filed at:   2026-03-11T23:59:59+00:00
Accession:  0001821534-26-000008
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Exodus Q4 revenue $29.5M (-34% YoY), net loss $53.2M; full year revenue record $121.6M
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- Full year 2025 revenue of $121.6M, up 5% YoY; swap volume $6.89B (+21%).
- Q4 net loss of $53.2M vs net income of $67.0M in Q4 2024; loss on digital assets of $63.6M.
- B2B channel XO Swap contributed 19% of Q4 revenue; $416M volume from B2B partners.
- Acquisition of W3C Corp (credit card issuance) on track; $70M USD set aside for closing.
- Preliminary Q1 2026: ~610 BTC, ~1,840 ETH; 1.6M monthly active users (up from 1.5M).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1821534/000182153426000008/0001821534-26-000008-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1821534/000182153426000008/exod-20260311.htm
  HTML page:      https://secwatch.observer/filing/0001821534-26-000008

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer