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Exodus Movement, Inc. Class A
(NYSE MKT:EXOD)
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Rating:54Neutral
Price Target:
$8.00
▲(54.74% Upside)
Action:Reiterated
Date:08/17/26
The score is held back primarily by weak financial performance: large recent losses and significant cash burn despite strong revenue growth and a debt-free balance sheet. Technicals add support due to strong upside momentum versus moving averages, though RSI indicates the move is stretched. The earnings call is moderately constructive on strategic direction and cost reductions, but execution and regulatory timelines remain key risks. Valuation is difficult to anchor with a negative P/E and no dividend support.
Positive Factors
Payments platform scale
Monavate adds meaningful payments infrastructure, geographic reach and transaction scale to Exodus. The combined platform can broaden revenue beyond crypto swaps and support enterprise cross-selling as integrations mature.
Negative Factors
Severe profitability deterioration
Growth is not currently translating into durable earnings, and compressed gross margin suggests weaker unit economics alongside higher costs. Sustained losses could limit internal investment capacity and make the payments transition harder to execute.
Read all positive and negative factors
Positive Factors
Negative Factors
Payments platform scale
Monavate adds meaningful payments infrastructure, geographic reach and transaction scale to Exodus. The combined platform can broaden revenue beyond crypto swaps and support enterprise cross-selling as integrations mature.
Read all positive factors
Exodus Movement, Inc. Class A (EXOD) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$234.68M
Dividend YieldN/A
Average Volume (3M)53.55K
Price to Earnings (P/E)―
Beta (1Y)1.34
Revenue Growth-14.22%
EPS Growth-185.41%
CountryUS
Employees215
SectorGeneral
Sector StrengthN/A
IndustrySoftware - Application
Share Statistics
EPS (TTM)-2.95
Shares Outstanding11,015,102
10 Day Avg. Volume37,686
30 Day Avg. Volume53,545
Financial Highlights & Ratios
PEG Ratio0.35
Price to Book (P/B)1.73
Price to Sales (P/S)3.53
P/FCF Ratio-16.61
Enterprise Value/Market Cap>-0.01
Enterprise Value/Revenue>-0.01
Enterprise Value/Gross Profit>-0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$12.88Price Target Upside149.03% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
EPS Forecast (FY)-1.68
Revenue Forecast (FY)$123.88M
Exodus Movement, Inc. Class A Business Overview & Revenue Model
Company Description
Exodus Movement, Inc. is a U.S.-based enterprise specializing in a non-custodial software platform for digital assets. The company provides a multi-asset software wallet that enables individuals to securely store, administer, and swap various cryp...
How the Company Makes Money
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Exodus Movement, Inc. Class A Earnings Call Summary
Earnings Call Date:Aug 10, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 17, 2026
Earnings Call Sentiment Neutral
The call highlights a meaningful strategic pivot into payments supported by a completed acquisition (Monavate/Baanx), strong transaction scale (>$1.8B YTD; >6M cards issued) and clear cost-savings plans ($10–13M annualized). However, near-term financials were impacted by substantial one-time transaction and professional fees (~$22.8M), a net loss of $18.6M and EBITDA loss of $21.5M, along with regulatory constraints in Europe and a large client volume reduction. Integration and regulatory approvals (60–90 day Bank of Latvia process) are key near-term execution items. Overall, positives around scale and strategic direction are balanced by material near-term financial and regulatory challenges.Positive Updates
Strategic transformation and acquisitions
Completed the acquisitions of Monavate and Baanx and repositioned Exodus as a payments-first company, retiring the Baanx brand and folding its team/technology into Monavate to expand addressable markets beyond crypto and enable enterprise payments and cross-sell opportunities.
Negative Updates
Quarterly loss and EBITDA pressure
Reported net loss of $18.6 million for Q2 2026 and an EBITDA loss of $21.5 million, reflecting the financial impact of the acquisition, integration, and restructuring activities during the quarter.
Read all updates
Q2-2026 Updates
Positive
Negative
Strategic transformation and acquisitions
Completed the acquisitions of Monavate and Baanx and repositioned Exodus as a payments-first company, retiring the Baanx brand and folding its team/technology into Monavate to expand addressable markets beyond crypto and enable enterprise payments and cross-sell opportunities.
Read all positive updates
Company Guidance
Management's guidance focused on completing the Exodus–Monavate integration and restoring card issuance and banking capabilities to enable Exodus Pay (expecting a new issuing arrangement in Q4 and a Bank of Latvia change‑of‑control review for ZixiPay of ~60–90 days from filing), transitioning to a new U.S. banking partner, and delaying product adoption metrics until issuance is fully available; financially they reported Q2 revenue $26.2M (Exodus $21.2M / Monavate $5.0M; non‑GAAP pro‑forma ≈ $29M), net loss $18.6M, EBITDA loss $21.5M and adjusted EBITDA loss $6.7M, with core operating metrics of ~1.4M active Exodus users, quarterly swap volume $1.13B, Monavate YTD gross transaction volume ~$1.8B (Q2 ≈ $900M), >6M cards issued, ~1.4M active cards, >$8.5B processed since inception, and ~40 active enterprise customers; they also executed a ~25% headcount reduction targeting $10–13M of annualized operating expense savings (implying roughly $2.5–3.5M quarterly savings and a full run‑rate by Q4) to drive toward more durable, payments‑driven profitability.Exodus Movement, Inc. Class A Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
72
Positive
Cash Flow
28
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Mar 2023 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 108.70M | 121.55M | 117.52M | 56.26M | 50.61M | 95.85M |
| Gross Profit | 38.82M | 58.62M | 117.52M | 25.74M | 21.93M | 73.15M |
| EBITDA | -57.11M | -16.33M | 136.19M | 15.45M | -5.80M | 51.48M |
| Net Income | -86.90M | -11.35M | 112.96M | 12.79M | -23.15M | -21.91M |
Balance Sheet | ||||||
| Total Assets | 596.70M | 266.76M | 288.00M | 111.72M | 89.21M | 108.75M |
| Cash, Cash Equivalents and Short-Term Investments | 21.21M | 5.16M | 68.39M | 54.54M | 52.48M | 50.67M |
| Total Debt | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 395.74M | 19.35M | 30.47M | 7.96M | 3.37M | 4.80M |
| Stockholders Equity | 200.96M | 247.41M | 257.53M | 103.76M | 85.84M | 103.96M |
Cash Flow | ||||||
| Free Cash Flow | -66.20M | -25.83M | -12.31M | 625.00K | 44.01M | 8.25M |
| Operating Cash Flow | -66.24M | -25.56M | -12.04M | 692.00K | 44.34M | 8.71M |
| Investing Cash Flow | 387.62M | 7.66M | 43.89M | -9.13M | -32.06M | -2.61M |
| Financing Cash Flow | -7.25M | -15.04M | -5.34M | -682.00K | 2.76M | -2.15M |
Exodus Movement, Inc. Class A Technical Analysis
Positive
5.17
Price Trends
5.57
Positive
6.39
Positive
10.46
Negative
Market Momentum
0.19
Negative
74.12
Negative
71.62
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For EXOD, the sentiment is Positive. The current price of 5.17 is below the 20-day moving average (MA) of 5.45, below the 50-day MA of 5.57, and below the 200-day MA of 10.46, indicating a neutral trend. The MACD of 0.19 indicates Negative momentum. The RSI at 74.12 is Negative, neither overbought nor oversold. The STOCH value of 71.62 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for EXOD.
Exodus Movement, Inc. Class A Risk Analysis
Exodus Movement, Inc. Class A disclosed 3 risk factors in its most recent earnings report. Exodus Movement, Inc. Class A reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Exodus Movement, Inc. Class A Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | $25.62B | 105.31 | 3.59% | ― | 11.75% | 85.38% | |
70 Outperform | $2.85B | 40.35 | 15.70% | ― | 24.95% | ― | |
66 Neutral | $2.74B | 10.10 | 23.02% | ― | 5.76% | -3.78% | |
60 Neutral | $440.79M | 23.27 | 11.58% | ― | -13.27% | -62.21% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
54 Neutral | $234.68M | -2.63 | -36.07% | ― | -14.22% | -185.41% | |
50 Neutral | $344.78M | -1.02 | -16.48% | ― | -70.49% | 33.05% |
* General Sector Average
EXOD
Exodus Movement, Inc. Class A
7.77
-18.81
-70.77%
EEFT
Euronet Worldwide
73.20
-22.62
-23.61%
IMXI
International Money Express
14.59
0.15
1.04%
OKTA
Okta
147.43
56.05
61.34%
AVPT
AvePoint
13.48
-1.73
-11.37%
BKKT
Bakkt Holdings, Inc. Class A
7.65
-1.59
-17.21%
Exodus Movement, Inc. Class A Corporate Events
Business Operations and Strategy
Exodus Movement Announces Major Restructuring for Payments Focus
Negative
Jul 18, 2026
On July 16, 2026, Exodus Movement, Inc.’s board approved a restructuring plan to align its cost structure and organization with a strategic shift toward payments and the ongoing integration of Baanx and Monavate. The plan, detailed in a July...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.