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
EXOD$4.08-8.9%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows
| (Unaudited, in thousands) · Nine Months Ended September 30, 2026 · Nine Months Ended September 30, 2025 | |||
|---|---|---|---|
| CASH FLOWS FROM OPERATING ACTIVITIES | |||
| Net (loss) income | $(60,491) | $41,835 | |
| Adjustments to reconcile net loss to net cash used in operating activities | |||
| Depreciation and amortization | 3,869 | 2,931 | |
| Deferred tax (benefit) expense | (16,571) | 5,869 | |
| Impairment of other assets | 413 | 137 | |
| Loss (gain) on digital assets, net | 32,017 | (44,694) | |
| Loss (gain) on disposed investments | 2 | (2,000) | |
| Gain on extinguishment of debt | (20,377) | — | |
| Staking and other income | (4,100) | (241) | |
| Other loss, net | 171 | 494 | |
| Share-based compensation | 13,211 | 10,941 | |
| Accrued interest income | (2,254) | (731) | |
| Accretion of future purchase obligation | 658 | — | |
| Other operating activities settled in digital assets and stablecoins (1) | (9,158) | (33,753) | |
| Change in operating assets and liabilities: | |||
| Accounts receivable | (3,930) | 389 | |
| Prepaid expenses | (7,341) | (297) | |
| Income tax receivable | 2,089 | (1,649) | |
| Other current assets | (12,763) | (704) | |
| Other long-term assets | 25 | 57 | |
| Accounts payable | (901) | 2,951 | |
| Accrued liabilities | 2,241 | 2,190 | |
| Payroll liabilities | 4,931 | — | |
| Other long-term liabilities | — | 32 | |
| Net cash used in operating activities | (78,259) | (16,243) | |
| CASH FLOWS FROM INVESTING ACTIVITIES | |||
| Cash acquired in acquisition, net of cash paid | 436,224 | — | |
| Investment in Simple Agreements for Future Equity notes ("SAFEs") | — | (100) | |
| Purchase of equity security | (200) | — | |
| Proceeds from the sale of disposed investments | — | 2,000 | |
| Purchases of fixed assets | (234) | (182) | |
| Purchase of treasury bills | — | (4,938) | |
| Redemption of treasury bills | — | 35,692 | |
| Purchases of digital assets | (3,145) | (2,399) | |
| Disposal of digital assets held | 104,551 | 11,586 | |
| Payment of acquisition deposit | (1,605) | — | |
| Payments for capitalized software | (2,297) | — | |
| Other investing activities | 502 | — | |
| Net cash provided by investing activities | 533,796 | 41,659 | |
| CASH FLOWS FROM FINANCING ACTIVITIES | |||
| Repurchase of shares to pay employee withholding taxes | (2,236) | (12,751) | |
| Exercise of stock options | 8 | — | |
| Change in client fund obligations | (325,476) | change in client fund obligations | — |
| Net cash used in financing activities | (327,704) | (12,751) | |
| Effects of exchange rate changes on cash | (3,242) | — | |
| Change in cash and cash equivalents and restricted cash | 124,591 | 12,665 | |
| Cash and cash equivalents and restricted cash, beginning of period | 4,938 | 37,883 | |
| Cash and cash equivalents and restricted, end of period | 129,529 | 50,548 | |
| SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES | |||
| Non-cash issuance of stock | $13 | $81 | |
| Non-cash fair value of loans receivable settled as acquisition consideration | $106,923 | $— | |
| Non-cash deferred purchase consideration recognized in connection with the acquisition | $24,843 | $— | |
| Noncontrolling interest recognized in connection with the acquisition | $3,423 | $— | |
| Fixed assets purchased with digital assets | $— | $(36) | |
| Non-cash capitalized software costs settled in digital assets and stock (including stock-based compensation of $312 and $389, respectively) | $(1,189) | $(1,605) | |
| Non-cash capitalized interest on loans receivable | $2,786 | $— | |
| SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION | |||
| Cash paid for income taxes | $4,165 | $(3) | |
(1)See "Note 7 – Digital Assets".
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