Exodus Sports Corporation (NYSE American: Exod), a leading self-monitoring Bitcoin and cryptocurrency platform, has announced unaudited financial results for the first quarter of 2025, showing record revenue and significantly increased digital asset holdings.
In its strongest first quarter to date, Exodus reported revenue of $36 million, up 24% from $29.1 million in Q1 2024. The company attributes growth to continued product innovation and demand for self-customer solutions. “Exodus continues to provide innovative solutions to leverage the growing market of digital assets,” said JP Richardson, CEO and co-founder. “At the same time, our focus on self-perception remains a different person.”
In addition to revenue milestones, the company now holds 2,011 BTC, up 70 btc since December 31, 2024, according to its first quarter documents. Bitcoin holdings are worth $166 million, including $238 million in most of the company’s digital assets, cash and cash equivalents. The company also holds 2,693 ETH, worth $4.9 million and $62.8 million in U.S. dollars coins and fiscal bills.
Despite the decrease in user activity (monthly active users fell by 30% to 1.6 million), for example, at the end of the quarter, a strong user base was used, with 1.8 million funded users. The total exchange volume processed in the first quarter was US$2.18 billion.
Costs rose sharply, technology, development and user support grew 39% to $14.9 million, and general and administrative costs rose 79% to $14.3 million. Exodus’ net loss was $12.9 million, compared with net income of $54.8 million in Q1 2024, mainly due to the loss of $28.8 million in digital assets.
Despite this, the Exodus leadership remained optimistic. “The first quarter revenues for the first quarter were our highest and second largest revenue quarters,” said Chief Financial Officer James Gernetzke. “With the vast number of opportunities at our doorstep, Exodus is fully positioned to expand into the future in our industry and beyond.”
A webcast discussing Q1 results will be found on Exodus.com/investors on May 12 at 4:30 pm.
