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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7. Digital Assets
- Digital Assets
The table below outlines the fair value of the Company's digital assets based on publicly available rates as of the dates presented as well as the cost:
| September 30, 2026 | December 31, 2025 | |||||
|---|---|---|---|---|---|---|
| (in thousands, except units) | Units | Cost Basis | Fair Value | Units | Cost Basis | Fair Value |
| Bitcoin | 293 | $11,600 | $24,468 | 1,704 | $53,449 | $149,164 |
| Ethereum | 162 | 421 | 435 | 1,898 | 3,476 | 5,633 |
| Solana | 210 | 21 | 25 | 12,473 | 2,385 | 1,552 |
| Other | * | 309 | 336 | * | 102 | 98 |
| Digital assets | $12,351 | $25,264 | $59,412 | $156,447 | ||
*Other digital assets unit balances are not considered meaningful.
The following table summarizes other operating activities settled in digital assets and stablecoins:
| Nine Months Ended September 30, | ||
|---|---|---|
| (in thousands) | 2026 | 2025 |
| Revenues | $(61,832) | $(92,006) |
| Expenses | 55,695 | 29,218 |
| Conversion of digital assets and stablecoins to cash, net | (2,648) | 28,615 |
| Accounts receivable and other current assets | (2,678) | 1,422 |
| Payroll liabilities | 1,716 | 316 |
| Currency translation related to digital assets | 589 | (1,318) |
| Other operating activities settled in digital assets and stablecoins | $(9,158) | $(33,753) |
Token Arrangements
During the second quarter of fiscal year 2025, the Company sold its right to receive 6,666,667 of its 13,333,334 Magic Eden tokens from Eden Protocol Limited. The Company recognized a gain of $2.0 million on the sale of future token interests, which is presented in the consolidated statements of operations and comprehensive loss. As of September 30, 2026, the Company has received 4,999,939 Magic Eden tokens and has 1,666,728 tokens remaining to be received. The Company’s right to receive future Magic Eden token interests represents an embedded derivative, which had a fair value ofzero as of September 30, 2026 and December 31, 2025.
During the three and nine months ended September 30, 2026, in connection with the Company’s investment in the Promissory Note, the Company is entitled to receive 32,500 Promissory Note tokens which are subject to a 48-month vesting schedule, including a 12-month cliff followed by monthly vesting over the remaining term and other restrictions. As of September 30, 2026, the value of these tokens is $0.6 million.
On July 11, 2026, the Company purchased a warrant to acquire up to 20,000 tokens, from an unrelated third party, at an exercise price of $16.40 per token, expiring on July 11, 2034. Tokens acquired upon exercise are subject to a 48-month lockup schedule, including a 12-month cliff followed by monthly releases over the remaining term. As of September 30, 2026, the fair value of the warrant was $0.4 million.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.