Exodus Movement, Inc. announced its financial results for the third quarter ended September 30, 2024, reporting total revenues of $20.1 million, a 68% increase year-over-year. The company also achieved profitability with a net income of $0.8 million for the quarter, a significant improvement compared to a loss in the previous year.
CEO JP Richardson highlighted key milestones achieved in Q3, including a new partnership with Ledger and the expansion of the Magic Eden Wallet to mobile devices, which are expected to broaden user reach. The launch of the Passkeys product for developers was also noted for simplifying decentralized application onboarding.
CFO James Gernetzke emphasized the strength of Exodus's business model, citing both high year-over-year revenue growth and profitability. The company's monthly active users reached 1.6 million in Q3 2024, up from 1.1 million a year earlier, indicating expanding user adoption in the digital asset market.
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