Simply put
- Revenue surged by 51% to $30.3 million, while the exchange platform’s trading volume hit $1.75 billion in the third quarter.
- At the end of the quarter, Exodus reported $314.7 million in digital and liquid assets, which included 2,123 BTC and 2,770 ETH.
- This update follows a notable decline in corporate Bitcoin purchases, with businesses adding only 14,447 BTC in October, the smallest rise for 2025.
Exodus Movement, a publicly traded entity on the New York Stock Exchange, shared robust financial results for the third quarter, even as the industry saw a decrease in overall corporate Bitcoin purchases.
The company announced a third-quarter revenue of $30.3 million, which reflects a 51% increase compared to last year, primarily driven by an uptick in swap activities and higher trading volumes.
Net income rose significantly, reaching $17 million from just $800,000 a year prior. The trading volume for the exchange reached $1.75 billion, marking an 82% annual increase.
Exodus concluded the quarter holding 2,123 BTC, 2,770 ETH, and $50.8 million in cash, USDC, and Treasury securities. This brought total digital and liquid assets to $314.7 million.
Chief Financial Officer James Garnetzke mentioned that between 60% and 65% of the monthly income is received in Bitcoin from a third-party liquidity provider responsible for swaps.
He added, “As transaction volumes grow, particularly on the B2C side, which is our main focus, we can generate more revenue in Bitcoin.”
The company uses some of its Bitcoin to manage operational costs, including payroll and vendor payments, while holding the remainder in reserve. They might also convert some Bitcoin to USDC when liquidity needs arise.
Additionally, Exodus announced its acquisition of Grateful, a stablecoin payment platform based in Latin America. This partnership is expected to enhance payment capabilities and support the firm’s expansion into emerging markets.
This news arrives as businesses are pulling back on Bitcoin accumulation. After acquiring over 38,000 BTC in September, only 14,447 BTC were added in October—the lowest monthly growth for 2025.
According to BitcoinTreasuries.net, the total holdings across companies, governments, and ETFs remain at an impressive 4.05 million BTC, valued around $444 billion, with minimal selling activity as just 39 BTC were sold in October.
As conditions for financing have tightened and stock valuations have weakened, some companies are adopting stricter capital efficiency measures, such as buybacks and credit lines.
Analysts estimate that public companies today account for about 5% of Bitcoin’s illiquid supply, with an increasing share held by long-term investors.
Garnetzke emphasized that Bitcoin-based revenue is vital for Exodus’ operational approach, and the company intends to smoothly integrate the new acquisition as it enhances its payment services.
