Exodus Movement (EXOD) Q4 2024 earnings summary

Executive summary

• Q4 2024 revenue reached $44.8 million, up 143% year-over-year, and full-year revenue totaled $116.3 million, both all-time highs.

• Monthly active users grew to 2.3 million by Q4 2024, up from 1.4 million a year earlier.

• Major product launches included XO Swap, a B2B2C swap aggregator, and Passkey Wallet, driving strong adoption.

• Uplisting to NYSE American in December 2024 improved liquidity, capital access, and investor visibility.

• Exchange provider processed volume hit $2.33 billion in Q4 2024, up 172% year-over-year.

Financial highlights

• Full-year 2024 revenue was $116.3 million, up from $71.5 million in 2023.

• Q4 2024 revenue was $44.8 million, a 143% increase from Q4 2023.

• Digital and liquid assets totaled $265 million at year-end, including $181.2 million in Bitcoin.

• Net gain on digital assets was $18.5 million in Q4 2024.

• Exchange aggregation accounted for up to 92% of total revenue in 2024.

Outlook and guidance

• XO Swap momentum continued into Q1 2025, with $1.45 billion in volumes in the first two months, 23% from XO Swap partnerships.

• Digital asset holdings surpassed 2,000 Bitcoin by February 2025.

• Management expects continued momentum in 2025 driven by product innovation and strategic initiatives.

• Focus remains on maximizing shareholder value and disciplined treasury management.