Exodus Movement reported a net loss of $32.1 million for the first quarter of 2026, more than double the $12.9 million loss posted during the same period last year as the cryptocurrency wallet company liquidated most of its Bitcoin vault to fund acquisitions.
Total revenue was $22.7 million for the three months ended March 31, down 36.8% from $36 million a year earlier, the company said announced Monday. The main cause of the decline was exchange aggregation, the company’s core business line, which fell by $13.8 million, or 40.8%, as user transaction volume declined.
The number of monthly lively users fell to 1.5 million from 1.6 million a year ago, while the number of quarterly funded users fell more sharply, falling 22.2% to 1.4 million from 1.8 million.
The company cited macroeconomic pressures, including the Federal Reserve’s changed growth outlook and uncertainty about the administration’s tariff policy, as the main causes of market-side damage. “The Company expects that digital asset price volatility will continue and may result in significant fluctuations in the Company’s operating results in future periods,” she added.
Related: How artificial intelligence became the cryptocurrency industry’s favorite reason for staff reductions
Exodus sells 63% of its Bitcoin inventory
At the end of December 2025, Exodus held 1,704 BTC. By March 31, this position had been reduced to 628 BTC, a reduction of approximately 63% on a unit basis. The company raised $73.2 million in sales during the quarter, almost all of which went to finance its acquisition of W3C Corp., the holding company behind fintech companies Monavate and Baanx.
The company’s broader digital asset portfolio posted a net loss of $36.4 million, reflecting unrealized losses of $76.8 million, partially offset by $40.4 million in realized gains on asset exchanges.
At the end of the quarter, the company had $72.9 million in cash and cash equivalents, compared to $4.9 million at the end of 2025.
Exodus shares are falling. Source: Peasant! Finances
Exodus shares fell 5.75% to $7.71 on May 12, and fell another 3.11% to $7.47 in pre-open trading.
Related: Bitcoin exchange reserves fall to two-year low following $8 billion exodus
Exodus introduces XO Cash in the form of a push to AI agents
As Cointelegraph reports, Exodus has implemented XO Cash, a Solana-based stablecoin toolkit powered by MoonPay that allows AI agents to spend money via Visa payment rails without revealing user private keys.
Developers can create agent-linked wallets, limit daily spend, restrict merchants, and issue virtual debit cards via Exodus Pay balances. Payments settle automatically in USDC (USDC) or USDt (USDT) via Monavate’s infrastructure, and transactions are free of charge.
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