Reporting published by The Block on November 10, 2026, covered Exodus’s results for the quarter ended September 30, 2026. Revenue was $32.5 million, up 7% from $30.3 million in the third quarter of 2025. Net income attributable to the company moved from a $17 million profit in the year-earlier quarter to an $8.3 million loss. Adjusted EBITDA was a $3.9 million loss, versus positive adjusted EBITDA of $5.9 million a year earlier.
On activity, Exodus reported $1.1 billion in gross transaction volume and $1.1 billion in total swap volume. Swap volume was down 3.4% from the second quarter. The company also reported 1.6 million active cards and 1.4 million monthly active users. Quarterly funded users increased 7.7% from the prior quarter to 1.4 million.
The growth rates use different baselines: revenue compares with the same quarter one year earlier, while the funded-user increase is sequential. Swap volume fell over that same quarter-to-quarter window. The figures do not include a multi-period retention view, a split between new and existing users, or information on incentive programs, so they do not by themselves show whether the activity is durable. The statement gives both monthly active users and funded users as 1.4 million without defining how the two measures relate.
Shares of the NYSE American-listed company rose 10.07% on Monday to close at $4.48 ahead of the earnings release. They remained down 8.57% over five trading days and 70.21% since the start of 2026, according to The Block’s EXOD price page. That price move is separate from the usage metrics above.
Exodus has been extending beyond its self-custodial wallet. In June it launched Exodus Markets with Ondo Finance, offering eligible customers access to more than 200 tokenized stocks, ETFs, and other assets through its wallet on Solana. The company said it remains on track to reduce combined annual costs by approximately $30 million going into 2027, up from an earlier target of $10 million to $13 million, as it integrates Monavate and Baanx.
The company wrote on X that “Q3 was about execution: integrating the organization, restoring some payment capabilities, sharpening our product roadmap, and building a more disciplined operating model.” CEO JP Richardson said in the statement, “We are building toward a financial system where anyone can receive money, invest it, and spend it as easily as they send a message, while retaining control of their assets.”
Original reporting: The Block, November 10, 2026.
