Exodus Q3 revenue grew by 7%, net loss of 8.3 million USD

According to The Block, the stock price of the self-custody wallet provider Exodus rose 10.07% on Monday, closing at $4.48. The company's financial report shows that for the third quarter ending September 30, 2026, revenue was $32.5 million, an increase of 7% from $30.3 million in the same period last year. The net profit attributable to the company shifted from a profit of $17 million in the third quarter of 2025 to a loss of $8.3 million, and adjusted EBITDA also changed from a positive $5.9 million in the same period last year to a loss of $3.9 million.

In terms of payment business, Exodus reported a total transaction volume of $1.1 billion this quarter, with a total exchange volume also at $1.1 billion, and reported 1.6 million active cards and 1.4 million monthly active users. The number of users making deposits this quarter increased by 7.7% to 1.4 million, while the exchange volume decreased by 3.4%. The company stated that the focus for the third quarter was on integrating the organization, restoring some payment capabilities, optimizing the product roadmap, and establishing a stricter operational model.

Exodus is continuously expanding its business beyond self-custody wallets. In June of this year, it partnered with Ondo Finance to launch Exodus Markets, offering over 200 tokenized stocks, ETFs, and other assets to qualified customers through wallets on Solana.

CEO JP Richardson stated that the company is building a financial system where anyone can receive payments, invest, and consume as easily as sending a message, while retaining control of their assets. The company also mentioned that with the integration of Monavate and Baanx, it aims to reduce annual costs by approximately $30 million by 2027, exceeding the previous target of $10 million to $13 million. Its stock price has fallen a cumulative 70.21% this year.