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EXODExodus Movement

Crypto · Financial Services · NYSE
Compare with peers → Embed
FY2025 at a glance

Sales up 4.5%, free cash flow down to -$25.8M

XBRL, from each 10-K
$121.6M
from $116.3M in FY2024
FY2023FY2025
Net incomeStatements ↓
-$11.4M
from $113.0M in FY2024
FY2023FY2025
Free cash flowStatements ↓
-$25.8M
from -$12.3M in FY2024
FY2023FY2025
Price and key numbers

The latest figures

All key numbers (23, from the latest 10-K and 10-Q) From EDGAR
EPS (ttm)-Sales (ttm)110.9MNet income (ttm)-112.2MSales growth+4.5%EPS growth-Sales Q/Q+7.2%
Free cash flow-87.9MGross margin-Oper. margin-Net margin-101.2%FCF margin-79.3%ROE-56.6%
ROA-30.1%R&D / sales-Dividend-Debt/Eq-Curr. ratio1.20Cash129.5M
Op. cash flow (ttm)-87.6MQuick ratio1.20Stock pay / sales11.2%Asset turnover0.30Days sales out.15

Hover or tap a number to see the XBRL line item and filing it comes from; click it to open that filing at SEC. What each number means. Looks wrong? Tell us.

Changes in the numbers

FY2025 against FY2024
  • Revenue growth slowed to +4.5%+106.9% → +4.5% · Revenue FY2025 / revenue FY2024 − 1, against the same a year earlier · 10-K ↗
  • Net income turned to a loss$113.0M → −$11.4M · Net income attributable to the company · 10-K ↗
What management wrote about it → · Every company →

EXOD against Crypto peers

Ten years, side by side → · All 32 →
GrowthProfitBalanceCleanInsiders
EXODPeer median

Each side 0 to 100, ranked against every company we cover: relative position on reported figures, not a buy score. How

Every dot is one of the 32 companies, the better end on the right. Hover a dot for the company.

Sales growth
+4.5%20th of 27 · median +38.2%
Net margin
-101.2%8th of 19 · median -169.8%
Return on equity
-56.6%13th of 26 · median -57.4%
Free cash flow margin
-79.3%9th of 21 · median -91.3%
EXOD and the 5 peers closest in revenue
CompanyRevenue (ttm)Sales growthGross marginNet marginROEFCF marginDebt / equity
EXOD Exodus Movement$110.9M +4.5%--101.2%-56.6%-79.3%-
CIFR Cipher Digital$146.1M +48.0%50.5%-742.3%-180.7%-9.26
BTBT Bit Digital$122.8M +5.1%--237.2%-73.7%-619.3%0.26
BMNR Bitmine Immersion Technologies$61.2M +84.1%84.4%--75.4%-481.3%-
FWDI Forward Industries$53.1M -9.0%70.6%---34.6%-
SBET Sharplink$52.8M +666%---49.1%-64.8%-

Profitability

1 of 3
  • ✓
    Net margin above the peer median-101.2% vs -169.8%
  • !
    Return on equity below 15%-56.6%
  • !
    A profit in 2 of 3 years
Net margin, FY2023 to FY2025: 22.8% → -9.3%

Each tick is a fact with a fixed rule (on /methodology), not a score or advice. A check without the numbers it needs is left out.

Revenue and net income, FY2023 to FY2025

Revenue 121.6M Net income -11.4M
FY2023 revenue 56.2M · RevenueFromContractWithCustomerExcludingAssessedTax, 0000950170-25-034884 FY2023 net income 12.8M · NetIncomeLoss, 0000950170-25-034884 56.2M FY2023 FY2024 revenue 116.3M · RevenueFromContractWithCustomerExcludingAssessedTax, 0001821534-26-000009 FY2024 net income 113.0M · NetIncomeLoss, 0001821534-26-000009 116.3M FY2024 FY2025 revenue 121.6M · RevenueFromContractWithCustomerExcludingAssessedTax, 0001821534-26-000009 FY2025 net income -11.4M · NetIncomeLoss, 0001821534-26-000009 121.6M FY2025

From XBRL in each 10-K. Hover a bar for the line item and filing. Full financials →

Where the $122.0M of revenue came from

by product, year to Dec 31, 2025
  • Exchange aggregation $110.7M · 91%
  • Fiat onboarding $5.0M · 4%
  • Staking $4.3M · 4%
  • Consulting $910K · 1%
  • Other $540K · 0%
  • Non-Fungible Token $400K · 0%

From the segment tables in the 10-K XBRL. Revenue by segment, product and region →

Statements

Income statement, balance sheet and cash flow

XBRL, each 10-K and 10-Q

EXOD's income statement, balance sheet and cash flow as reported to the SEC in XBRL, one column per fiscal year. Hover a number to see the line item and filing it comes from. Where a company changed how it tags a line, the first tag it reported for that period is used. A number looks wrong? Tell us.

Revenue121.6M
FY2023: 56.2MFY2024: 116.3MFY2025: 121.6M FY2023FY2024FY2025
Net income-11.4M
FY2023: 12.8MFY2024: 113.0MFY2025: -11.4M FY2023FY2024FY2025
Free cash flow-25.8M
FY2023: 625KFY2024: -12.3MFY2025: -25.8M FY2023FY2024FY2025

Revenue by product or service

year to Dec 31, 2025
RevenueSharevs year before
Exchange aggregation 110.7M91.1% +3.4%
Fiat onboarding 5.0M4.2% +28.0%
Staking 4.3M3.6% +90.5%
Consulting 910K0.7% -30.4%
Other 540K0.4% -67.1%
Non-Fungible Token 400K0.3% -73.3%

10-K 0001821534-26-000009, segment and revenue notes (XBRL).

Revenue by region

year to Dec 31, 2025
RevenueSharevs year before
Republic of the Marshall Islands 31.3M25.8% -13.3%
Hong Kong 27.4M22.6% +10.7%
British Virgin Islands 20.4M16.8% +6.1%
Seychelles 14.8M12.2% -28.9%
Other 14.3M11.8% +46.4%
Saint Vincent and Grenadines 13.3M10.9% +141%

10-K 0001821534-26-000009, segment and revenue notes (XBRL).

Income statement

From EDGAR
FY2023FY2024FY2025
Revenue56.2M116.3M121.6M
SG&A18.5M39.5M66.3M
Interest expense-0570K
Pretax income10.9M130.9M-20.7M
Income tax-1.9M17.9M-9.3M
Net income12.8M113.0M-11.4M
Depreciation & amortization4.6M5.3M3.8M
Net margin22.8%97.1%-9.3%
Revenue growth-+107%+4.5%

Balance sheet

From EDGAR
FY2023FY2024FY2025
Cash11.4M37.9M4.9M
Receivables3.2M7.7M5.1M
Current assets59.7M82.8M99.3M
Property & equipment317K357K458K
Goodwill--0
Total assets111.7M288.0M266.8M
Accounts payable1.1M1.2M1.2M
Current liabilities7.5M8.3M7.4M
Total liabilities8.0M30.5M19.4M
Shareholders' equity103.8M257.5M247.4M
Retained earnings-17.3M133.9M122.5M

Cash flow

From EDGAR
FY2023FY2024FY2025
Operating cash flow692K-12.0M-25.6M
Capital spending67K273K267K
Free cash flow625K-12.3M-25.8M
Stock-based pay (added back)5.8M6.6M13.6M
Buybacks715K5.4M15.1M
Investing cash flow-9.1M43.9M7.7M
Financing cash flow-682K-5.3M-15.0M

Stock-based pay and leases

From EDGAR
FY2023FY2024FY2025
Stock-based pay (expense)5.8M6.6M13.6M
Stock-based pay / revenue10.3%5.7%11.2%

From SEC's XBRL company facts (data.sec.gov). EBITDA = operating income + depreciation and amortization; free cash flow = operating cash flow - capital spending; total debt = long-term debt (with its current part) + short-term borrowings. Stock-based pay and leases are shown as the company reports them; Tickdelta does not take them out of earnings or add leases to debt. Click a number to open the filing in SEC's Inline XBRL viewer, where you can click the same number to see how it is tagged. Values a company later revised show as revised; the Revised numbers tab lists the changes.

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