Exodus Movement, Inc.
For the period ended Sep 30, 2026. Filed Nov 9, 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.
Sep 30, 2026 · Filed Nov 9, 2026
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10. Software Assets, Net
- Software Assets, Net
Costs incurred are used to develop internal software applications and consist mainly of compensation and benefits. We capitalize software development costs upon the establishment of technological feasibility. During the three months ended September 30, 2026 and 2025, we capitalized $0.2 million and $0.5 million, and during the nine months ended September 30, 2026 and 2025, we capitalized $1.2 million and $1.6 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) | September 30, 2026 | December 31, 2025 |
|---|---|---|
| Software in development | $3,350 | $1,069 |
| Software assets in use | 13,793 | 13,198 |
| Less: accumulated amortization | (11,288) | (9,702) |
| Software assets in use, net | 2,505 | 3,496 |
| Software assets, net | $5,855 | $4,565 |
The following summarizes the future amortization expense as of September 30, 2026:
| (in thousands) | |
|---|---|
| Three months ending December 31, 2026 | $474 |
| 2027 | 1,398 |
| 2028 | 525 |
| 2029 | 108 |
| $2,505 | |
For the three months ended September 30, 2026 and 2025, amortization expense was $0.6 million and $0.8 million, and $1.8 million and $2.8 million for the nine months ended September 30, 2026 and 2025, respectively. The Company recordedno and $0.4 million in software development impairment during the three and nine months ended September 30, 2026, respectively, andno and $0.1 million in software development impairment for both three and nine months ended September 30, 2025, respectively.
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