According to PANews, Exodus Movement, a custodial wallet company, has released its first quarterly financial report since its stock (EXOD) was listed on NYSE American in May. The report indicates an 80% year-over-year increase in revenue for the second quarter, reaching $22.3 million. However, the company also experienced a rise in costs, resulting in a quarterly loss of nearly $10 million, compared to a profit of $1.9 million in the same period last year.
The number of monthly active users for Exodus Movement saw a slight increase, growing from 1.2 million in the previous year to 1.5 million this quarter. The company's financial resources are heavily invested in digital assets. Exodus Movement holds approximately $70.7 million in cash and cash equivalents, which includes stablecoins and U.S. Treasury bonds. Additionally, the company possesses $195.5 million in digital assets, including $121.3 million in Bitcoin and Ethereum tokens.