Exodus Sells 1,076 BTC; Q1 Loss Widens to $32.1M
Exodus sold 1,076 BTC to fund acquisitions and reported a Q1 2026 net loss of $32.1 million for the quarter ended March 31.
Exodus Movement sold 1,076 BTC and recorded a net loss of $32.1 million for the quarter ended March 31, 2026. The company reduced its Bitcoin holdings from 1,704 BTC at Dec. 31, 2025, to 628 BTC on March 31, a roughly 63% decline, and raised $73.2 million in proceeds largely to finance a planned acquisition of W3C Corp., the holding company for Monavate and Baanx.
Total revenue for Q1 was $22.7 million, down 36.8% from $36.0 million a year earlier. Exchange aggregation revenue fell by $13.8 million, or 40.8%, after user trading volumes declined. Monthly active users decreased to 1.5 million from 1.6 million, and quarterly funded users fell 22.2% to 1.4 million from 1.8 million.
Exodus attributed weaker trading activity to macroeconomic pressures, including the Federal Reserve’s revised growth outlook and uncertainty around tariff policy. In its earnings release, the company warned that volatility in digital asset prices may continue and could cause significant fluctuations in future results.
The company’s broader digital asset portfolio posted a net loss of $36.4 million for the quarter, reflecting $76.8 million in unrealized losses partly offset by $40.4 million in realized gains on asset exchanges. Cash and cash equivalents totaled $72.9 million at quarter end, up from $4.9 million at year-end 2025, supported by the Bitcoin sales.
Exodus shares fell 5.75% to $7.71 on May 12 and slipped a further 3.11% to $7.47 in pre-market trading the following day.
Exodus launched XO Cash, a Solana-based stablecoin toolkit built with MoonPay that allows AI agents to make payments over Visa rails without exposing user private keys. The toolkit lets developers create agent-linked wallets with configurable daily spending caps, merchant restrictions and virtual debit cards funded by Exodus Pay balances. Transactions settle in USDC or USDT through Monavate’s infrastructure and carry no fees, the company reported.
The quarter’s results include reduced revenue from trading, realized and unrealized gains and losses on digital assets, and a higher cash balance following the Bitcoin sales.
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