Exodus Movement, Inc.
For the period ended Dec 31, 2025. Filed Mar 11, 2026.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Mar 11, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Table of contents
| PART I | ||
|---|---|---|
| Item 1. | Business | 3 |
| Item 1A. | Risk Factors | 20 |
| Item 1B. | Unresolved Staff Comments | 44 |
| Item 1C. | Cybersecurity | 44 |
| Item 2. | Properties | 45 |
| Item 3. | Legal Proceedings | 45 |
| Item 4. | Mine Safety Disclosures | 45 |
| PART II | ||
| Item 5. | Market for Registrant’s Common Equity, Related Shareholder Matters and Issuer Purchases of Equity Securities | 46 |
| Item 6. | [Reserved] | 46 |
| Item 7. | Management’s Discussion and Analysis of Financial Condition and Results of Operations | 47 |
| Item 7A. | Quantitative and Qualitative Disclosures About Market Risk | 57 |
| Item 8. | Financial Statements and Supplementary Data | 59 |
| Item 9. | Changes in and Disagreements With Accountants on Accounting and Financial Disclosure | 60 |
| Item 9A. | Controls and Procedures | 60 |
| Item 9B. | Other Information | 61 |
| Item 9C. | Disclosure Regarding Foreign Jurisdictions that Prevent Inspections | 61 |
| PART III | ||
| Item 10. | Directors, Executive Officers and Corporate Governance | 62 |
| Item 11. | Executive Compensation | 62 |
| Item 12. | Security Ownership of Certain Beneficial Owners and Management and Related Shareholder Matters | 62 |
| Item 13. | Certain Relationships and Related Transactions, and Director Independence | 62 |
| Item 14. | Principal Accountant Fees and Services | 62 |
| PART IV | ||
| Item 15. | Exhibits, Financial Statement Schedules | 63 |
| Signatures | 66 | |
Cautionary Statement Regarding Forward-Looking Information for Purposes of the "Safe Harbor" Provisions of
the Private Securities Litigation Reform Act of 1995
This Annual Report on Form 10-K contains “forward-looking statements” within the meaning of Section 27A of the
Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as
amended (the “Exchange Act”). All forward-looking statements are based upon our current expectations and various
assumptions and apply only as of the date of this Annual Report on Form 10-K. Our expectations, beliefs, and projections
are expressed in good faith, and we believe there is a reasonable basis for them. However, there can be no assurance that
our expectations, beliefs, and projections will be achieved. Forward-looking statements are generally identified by the
words “may,” “will,” “could,” “would,” “should,” “expect,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “predict,”
“project,” “potential,” “continue,” “ongoing,” “forecast,” as well as variations of such words or similar expressions.
Forward-looking statements include statements concerning:
our business plans and strategy;
projected profitability, performance, or cash flows;
future capital expenditures;
our growth strategy, including our ability to grow organically and through mergers and acquisitions
(“M&A”);
anticipated financing needs;
business trends;
our capital allocation strategy;
liquidity and capital management; and
other information that is not historical information.
There are a number of risks, uncertainties, and other important factors that could cause our actual results to differ
materially from those expressed or implied by our forward-looking statements, including those set forth in the sections
titled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations.” You
should evaluate all forward-looking statements made in this Annual Report on Form 10-K in the context of these risks and
uncertainties.
We caution you that the risks, uncertainties and other factors referred to above and elsewhere in this Annual Report on
Form 10-K may not contain all of the risks, uncertainties and other factors that may affect our future results and operations.
Moreover, new risks will emerge from time to time. It is not possible for us to predict all risks. In addition, we cannot
assure you that we will realize the results, benefits or developments that we expect or anticipate or, even if substantially
realized, that they will result in the consequences or affect us or our business in the way expected and you should not place
undue reliance on our forward-looking statements.
All forward-looking statements in this Annual Report on Form 10-K apply only as of the date made, unless an earlier date
is specified, and are expressly qualified in their entirety by the cautionary statements included in this Annual Report on
Form 10-K. Except as required by law, we disclaim any intent to publicly update or revise any forward-looking statements
to reflect subsequent events or circumstances.
In addition, statements that “we believe” and similar statements reflect our beliefs and opinions on the relevant subject.
These statements are based upon information available to us as of the date of this Annual Report on Form 10-K, and while
we believe such information forms a reasonable basis for such statements, such information may be limited or incomplete,
and our statements should not be read to indicate that we have conducted an exhaustive inquiry into, or review of, all
potentially available relevant information. These statements are inherently uncertain, and you are cautioned not to unduly
rely upon these statements.
PART I
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.