Exodus Movement, Inc.
For the period ended Jun 30, 2026. Filed Aug 11, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2026 · Filed Aug 11, 2026
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9. Software Assets, Net
- Software Assets, Net
Costs incurred are used to develop internal software applications and consist of mainly compensation and benefits. We capitalize software development costs upon the establishment of technological feasibility. During the three months ended June 30, 2026 and 2025, we capitalized approximately $0.5 million and $0.6 million and during the six months ended June 30, 2026 and 2025, we capitalized $1.0 million and $1.1 million, respectively, of software development costs. When the software is ready for use, these capitalized costs are amortized on a straight-line basis over the estimated useful life, estimated to bethree years.
Software assets, net, consisted of the following:
| (in thousands) | June 30, 2026 | December 31, 2025 |
|---|---|---|
| Software in development | $1,875 | $1,069 |
| Software assets in use | 13,722 | 13,198 |
| Less: accumulated amortization | (10,758) | (9,702) |
| Software assets in use, net | 2,964 | 3,496 |
| Software assets, net | $4,839 | $4,565 |
The following summarizes the future amortization expense as of June 30, 2026:
| (in thousands) | |
|---|---|
| Six months ended December 31, 2026 | $995 |
| 2027 | 1,375 |
| 2028 | 501 |
| 2029 | 93 |
| $2,964 | |
Amortization expense was $0.6 million and $1.2 million for the three and six months ended June 30, 2026, respectively, and $1.0 million and $2.0 million for the three and six months ended June 30, 2025, respectively. The Company recordedno and $0.4 million in software development impairment during the three and six months ended June 30, 2026, respectively andno and $0.1 million in software development impairment for both three and six months ended June 30, 2025, respectively.
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