Filing Flows › Exodus Movement (EXOD) › Q4 2025
Exodus Movement (EXOD) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 11, 2026
Exodus Movement (EXOD) reported revenue of $29.4M for the fourth quarter 2025 (Q4 2025), -34% from a year earlier and -3% from the quarter before. Operating margin was -226.9%, net loss $53.2M (181.0% of revenue).
Exodus Movement, Q4 2025: revenue $29.4M (-34% year over year), operating margin -226.9%, net loss $53.2M, operating cash flow −$9.3M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $29.4M | -3% | -34% |
| Operating profit | −$66.7M | -428% | -188% |
| Net earnings | −$53.2M | -412% | -179% |
| Operating cash flow | −$9.3M | — | — |
What changed
Revenue was $29.4M in Q4 2025, down 34% year over year and down 3% from the previous quarter.
Operating costs exceeded revenue by $66.7M, an operating margin of -226.9%. The quarter ended with a net loss of $53.2M, after a profit of $17.0M the previous quarter.
Operating cash flow was −$9.3M. Non-cash charges added back $822K of depreciation and amortization and $2.7M of share-based compensation. Working capital and other items added $40.4M. Capital expenditures of $85K exceeded it, leaving free cash flow of −$9.4M.
Questions
What was Exodus Movement's revenue in the fourth quarter 2025?
Exodus Movement (EXOD) reported revenue of $29.4M for the fourth quarter 2025 (Q4 2025), -34% from a year earlier and -3% from the quarter before.
Was Exodus Movement profitable in the fourth quarter 2025?
Operating loss was $66.7M (-226.9% of revenue) and net loss $53.2M.
Source: Exodus Movement 10-K on SEC EDGAR.