OMAHA, Neb., July 12, 2022 (GLOBE NEWSWIRE) -- Exodus Movement, Inc. (tZERO: EXOD, Securitize Markets: EXOD), (“the Company” or “Exodus”) the leading self-custodial cryptocurrency software platform, today announced its preliminary 2022 results for the second quarter ended June 30, 2022 and that it will host its fiscal 2022 second quarter earnings webcast on August 10, 2022 at 2:30PM (Central Time) / 3:30PM (Eastern Time).
Second Quarter Preliminary Metrics
- Exchange provider processed volume - $700 million in Q2 2022, down 4% sequentially and 57% year-over-year from $1.6 billion in Q2 2021. Bitcoin and Ethereum continue to be the top assets traded at 25% and 13% of volume, respectively in Q2 2022.
- Cash and digital assets - Over $80 million in USD, USDC, Bitcoin, and other digital assets as of June 30, 2022.1
- Exodus monthly active users (“MAUs”)2 - MAUs of 817,972 decreased 6% sequentially and were stable year-over-year from 832,384 MAUs on June 30, 2021, demonstrating outstanding user loyalty amidst high cryptomarket volatility.
- Full-time team members - approximately 290 at Q2 2022, an increase from 270 sequentially and 176 from Q2 2021.
- Customer response time - average response time of less than ten minutes.
Exodus’s second quarter demonstrates MAU sustainability, driven by the Company’s loyal customer base. Processed volume decreased year-over-year due to the ongoing crypto market volatility while MAUs remained stable. The Company notes that “$ per transaction” increased 6% sequentially and 183% year-over-year.
Current market conditions showcase the advantage of the company’s self custodial business model. This, combined with the seasoned crypto management team and strong balance sheet, allows Exodus to remain hyper-focused on delivering new products that help people exit traditional finance.
During the second quarter, Exodus expanded the ability of its customers to buy crypto with traditional currency by fully launching the fiat on-ramp product in partnership with Moon Pay and Ramp. Exodus customers have moved approximately $15 million out of the traditional financial system and onto Exodus wallets.
Exodus also released its beta version Browser Extension on May 17. The multi-chain browser extension allows customers to explore the world of Web3 on one, easy-to-use interface. The Exodus Browser Extension currently supports Ethereum and Solana with more chains supported by year-end.
Live Webcast Details
Exodus will host a live webcast of its second quarter 2022 fiscal results beginning at 3:30PM (Eastern Time) on August 10, 2022. To access the live webcast, please use this link. It will also be carried live on the Company’s website www.exodus.com.
Questions for Exodus Management related to the second quarter can be submitted via e-mail at firstname.lastname@example.org in advance of the live webcast.
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Exodus is on a mission to help the world exit the traditional finance system by 2030. Founded in 2015, Exodus is a multi-asset software wallet that removes the geek requirement and keeps design a priority to make cryptocurrency and digital assets easy for everyone. Available for desktop and mobile, Exodus allows users to secure, manage and exchange cryptocurrencies like Bitcoin, Ethereum, and more across an industry-leading 10,000+ asset pairs from a beautiful, easy-to-use wallet. The non-custodial functionality is encrypted locally on users' own devices, ensuring privacy, security and complete control over their wealth. For more info visit exodus.com.
Exodus uses the following as means of disclosing material nonpublic information and for complying with disclosure obligations under Regulation FD: websites exodus.com/investors and exodus.com/blog; press releases; public videos, calls and webcasts; and social media: Twitter (@exodus_io and JP Richardson's feed @jprichardson), Facebook, LinkedIn, and YouTube.
This communication contains forward-looking statements that are based on our beliefs and assumptions and on information currently available to us as of the date hereof. In some cases, you can identify forward-looking statements by the following words: "will," "expect," "would," "intend," "believe," or other comparable terminology. Forward-looking statements in this document include, but are not limited to, quotations from management regarding confidence in our products, services, business trajectory and plans, certain business metrics, including anticipated revenues and net income for the year and, in particular, up to the second quarter of 2022, and the timing, means and amount of anticipated stock repurchases. These statements involve risks, uncertainties, assumptions and other factors that are difficult to predict and may cause actual results or performance to be materially and adversely different.
Factors that might cause such a difference include, but are not limited to:
- the impact of the COVID-19 pandemic on the health and safety of our employees, users, as well as the physical and economic impacts of the various recommendations, orders, and protocols issued by local and national governmental agencies in light of continual evolution of the pandemic, including any periodic reimplementation of preventative measures in various global locations;
- the ongoing conflict in Ukraine, the impact of sanctions or other restrictive actions, by the United States and other countries, and the potential response by Russia thereto;
- difficulties predicting user behavior and changes in user spending habits as a result of, among other things, prevailing economic conditions, levels of employment, salaries and wages, inflation and consumer confidence, particularly in light of the pandemic and as pandemic-related restrictions are eased regionally and globally;
- unexpected or rapid changes in the growth or decline of our domestic and/or international markets;
- increasing competition from existing and new competitors;
- rapidly evolving and groundbreaking advances that fundamentally alter the digital asset and cryptocurrency industry;
- continued compliance with regulatory requirements;
- volatility in the price of cryptocurrencies, such as Bitcoin, and other digital assets;
- the possibility that the development and release of new products or enhancements to existing products do not proceed in accordance with the anticipated timeline or may themselves contain bugs or errors requiring remediation and that the market for the sale of these new or enhanced products may not develop as expected;
- the risks relating to our ability to sustain or increase profitability or revenue growth in future periods (or minimize declines) while controlling expenses;
- the compromise of user data for any reason;
- foreign operational, political and other risks relating to our operations; and
- the loss of key personnel, labor shortages or work stoppages.
More information on the factors, risks and uncertainties that could cause or contribute to such differences is included in our filings with the Securities and Exchange Commission, including in the "Risk Factors" and "Management's Discussion & Analysis" sections of our offering statement on Form 1-A. We cannot assure you that the forward-looking statements will prove to be accurate. These forward-looking statements speak only as of the date hereof. We disclaim any obligation to update these forward-looking statements.
1 Digital assets at Market Value as of June 30, 2022.
2 Monthly active users as of June 30, 2022.