Exodus Movement reports Q2 2026 revenue and strategic pivot

Exodus Movement, Inc. reported second-quarter 2026 revenue of $26.2 million and a net loss of $18.6 million. The company is currently undergoing a strategic transformation from a self-custodial cryptocurrency wallet provider into a broader payments and financial services platform.

The reported net loss is largely attributed to acquisition-related expenses, technology integration, and restructuring costs following the acquisition of Monavate Holdings Limited and Baanx. Exodus plans to retire the Baanx brand and integrate its technology and relationships into Monavate, which will function as the company’s payments business.

Financial highlights include $21.2 million in revenue from legacy operations and approximately $5 million from Monavate. Monavate processed roughly $900 million in gross transaction volume during the quarter. Operational metrics showed 1.4 million monthly active users and a total swap volume of approximately $1.1 billion for the quarter.