Exodus shares rise 10% ahead of Q3 earnings showing 7% revenue growth, $8.3 million loss

Exodus shares rose 10.07% on Monday to close at $4.48, ahead of the company's third-quarter earnings release, which showed higher revenue but a return to quarterly losses.

The NYSE American-listed company's stock remained down 8.57% over five trading days and 70.21% since the start of 2026, according to The Block's EXOD price page. 

Exodus reported $32.5 million in revenue for the three months ended Sept. 30, up 7% from $30.3 million a year earlier, the company said in a statement. 

Net income attributable to the company swung to an $8.3 million loss from $17 million in profit in the third quarter of 2025. Adjusted EBITDA also turned negative, with a $3.9 million loss compared with positive adjusted EBITDA of $5.9 million a year earlier.

"Q3 was about execution: integrating the organization, restoring some payment capabilities, sharpening our product roadmap, and building a more disciplined operating model," the company wrote on X. 

Payments business posts $1.1 billion in volume

Exodus reported $1.1 billion in gross transaction volume during the quarter, alongside $1.1 billion in total swap volume. It also reported 1.6 million active cards and 1.4 million monthly active users, according to the statement. 

Quarterly funded users increased 7.7% from the previous quarter to 1.4 million, while swap volume declined 3.4% from Q2.

The company has been expanding beyond its self-custodial wallet business. In June, Exodus launched Exodus Markets with Ondo Finance, offering eligible customers access to more than 200 tokenized stocks, ETFs, and other assets through its wallet on Solana. 

"We are building toward a financial system where anyone can receive money, invest it, and spend it as easily as they send a message, while retaining control of their assets," Exodus CEO JP Richardson said in the statement. 

Meanwhile, the company said it remains on track to reduce combined annual costs by approximately $30 million going into 2027, up from an earlier $10 million to $13 million target as it integrates Monavate and Baanx.