OMAHA — Exodus Movement, Inc. reported a net loss of $18.6 million for the second quarter ended June 30, 2026, reversing net income of $37.7 million in the same period a year earlier. The company released unaudited results Sunday.
"During the second quarter, we completed the most strategic acquisition in our company's history," said JP Richardson, CEO of Exodus. He said adding the payment infrastructure of Monavate and Baanx is central to the company's plans to diversify and offer individuals and enterprise partners a wider range of services.
Exodus acquired Monavate Holdings Limited, Monavate Ltd. Baanx.com Ltd. and Baanx US Corp. on May 1, 2026. Financial contributions from the acquired entities are included in Exodus's Q2 2026 results from that date forward.
Q2 2026 revenue reached $26.2 million, up from $25.8 million in Q2 2025. The company recorded a net loss of $32.1 million in Q1 2026, following a $12.9 million loss in Q1 2025.
For full-year 2025, Exodus reported record revenue of $121.6 million but swung from a $113 million profit in 2024 to an $11.4 million net loss, driven by digital asset losses and higher expenses.
Exodus added two marketing partnerships during Q2 2026. In June, the company became the inaugural Official Payments Partner of UFC. After the quarter closed, Exodus partnered with Latin American streaming and live TV platforms DGO and SKY+, which will allow subscribers to pay for subscriptions using U.S. dollar-denominated stablecoins.
Gross transaction volume for cards hit $0.6 billion in Q2 2026. The company said it continues to integrate the acquired entities to identify commercial synergies.
Exodus cautioned that its unaudited adjusted results are not an alternative to GAAP-determined reported results. The company said it believes non-GAAP financial measures provide useful information for management and investors to compare prior periods and identify business trends, and that these measures are not necessarily comparable to those of other companies.
Exodus will host a webcast to discuss Q2 2026 results at 5 p.m. Eastern Time on Aug. 10, 2026. Investors can access the webcast via a provided link or participate by phone.
