Exodus Movement Reports Q1 2026 Results: Full Earnings Call Transcript

On Tuesday, Exodus Movement (AMEX: EXOD ) discussed first-quarter financial results during its earnings call.

The full transcript is provided below.

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For comprehensive financial data and transcripts, visit Access the full call at Summary Exodus Movement Inc completed its largest transaction by acquiring Monavate and Banks, diversifying revenue streams away from crypto and enhancing its payments capabilities.

The launch of Exodus Pay marked a significant milestone, now operational in all 50 U.S. states, Canada, and parts of Europe, simplifying digital money management.

The company announced a strategic partnership with the UFC to expand brand visibility and distribution of Exodus Pay.

Q1 revenue was $22.7 million, down 23% from Q4 2025, attributed to a decline in digital asset market activity.

Exodus plans to integrate Monavate and Banks, scale Exodus Pay, and focus on expanding its payments-related revenue.

Management emphasized the importance of new product launches like Exo Cash for AI agents, aiming to simplify digital transactions.

The company maintained a strong balance sheet with $74 million in cash and cash equivalents, and $48 million in digital assets.

Future revenue projections include a significant contribution from Monavate by 2027, expected to account for over 40% of total revenue.

Full Transcript Jack Barlow, Head of Investor Relations Good morning and welcome to Exodus Movement Inc's first quarter 2026 earnings call.

I am Jack Barlow, Head of Investor Relations, and with me today is our Co-Founder and CEO, JP Richardson, and our CFO, James Gernetzke.

Last night, we issued a press release and filed our quarterly results, which are both available on our website.

During today's call, we'll reference our earnings and we may make forward-looking statements.

The company cautions investors that any forward-looking statement involves risks and uncertainties and is not a guarantee of future performance.

Actual results may vary materially from those expressed or implied in the forward-looking statements due to a variety of factors.

These factors are referenced in the forward-looking statement disclosure in our earnings release and described in more detail in our recent Form 10-K filed with the SEC earlier this year, which is also available on our Investor Relations portion of our website.

We do not undertake any obligation to update forward-looking statements.

As always, please feel free to contact us at investors@exodus.com if you have any questions or submit your questions via our social media accounts on X or Reddit.

With that, I will turn the call over to JP.

JP Richardson, Chief Technical Officer, Founder Thanks, Jack.

Thank you, everybody, for joining us here today.

Two weeks ago, on May 1st, our team traveled from all over the world to Omaha, Nebraska, for our first shareholder day, the Exodus Summit.

We brought investors, partners, and customers together for a full day of programming.

We made many new announcements to show what we're building and heard directly from the leaders and partners building it with us.

What you didn't see is that in the days leading up to the summit, we were on calls all day and night working on closing Monavate and Banks.

Everyone was running on a few hours of sleep, and some of our team members even pulled all-nighters.

But finally, the night before the summit began, the team closed the Monavate and Banks UK deals.

Banks US was still pending, so the team spent all day on calls, pushing to close the deal, and about 20 minutes before I walked on stage, we got word that the deal had closed.

I'll always remember this moment as we officially owned Banks and Monavate.

This was not an easy process, and it took 15 months of countless hours and extraordinary effort from our teams.

It was the largest transaction in Exodus history and marks a major step for the next chapter of the company.

Monavate and Banks strengthen our business in four important ways.

First, this transaction diversifies the revenue away from the crypto trading cycle.

We're adding new recurring revenue like card processing, interchange, issuance, and settlement.