Exodus Movement reports a wider loss in the first quarter as revenue falls. The crypto wallet provider says its net loss increases to $32.1 million, compared with a $12.9 million net loss in the same quarter a year earlier. Multiple outlets attribute the deterioration to weaker revenue, which drops to about $22.7 million, reflecting a decline of roughly 37% to 36.8% year over year. Cointelegraph also reports that Exodus sells more than 1,000 Bitcoin during the quarter, alongside the revenue and performance declines. The company’s results come with reduced engagement metrics, including a drop in monthly active users, which outlets link to the lower revenue. Overall, the coverage agrees that Exodus’s Q1 financial performance worsens year over year due to shrinking income and declining user activity, resulting in the expanded net loss. The reports present the same core figures on net loss and revenue and note Bitcoin sales as part of the quarter’s activity.
Exodus Movement reports wider Q1 net loss as revenue declines
Exodus Movement reports a wider loss in the first quarter as revenue falls. The crypto wallet provider says its net loss increases to $32.1 million, compared with a $12.9 million net loss in the same...
- Exodus Movement reports a Q1 net loss of $32.1 million, up from a $12.9 million loss a year earlier.
- Revenue falls to about $22.7 million in Q1, down roughly 36.8%–37% year over year.
- Cointelegraph reports Exodus sells over 1,000 Bitcoin during the quarter.
- Cointelegraph links lower revenue to a decline in monthly active users.
- All sources covered agree on the direction and magnitude of the widening Q1 loss and revenue decline.
Exodus Movement reported a $32.1 million net loss in Q1, with revenue down 36.8% to $22.7 million amid a drop in monthly active users.
3 months agoExodus Movement's net loss widened to $32.1 million in the quarter, compared with a net loss of $12.9 million a year earlier.
3 months ago
Toyota sales and production decline amid sharp downturns in China and the Middle East
Toyota reports that its global vehicle sales and production fall year over year, citing sharp declines in China and the...
Tejas Networks receives Rs 1,537 crore BSNL 4G order via TCS letter of intent
Tejas Networks receives a letter of intent (LoI) related to a Rs 1,537 crore order connected to the rollout of BSNL’s 4G...
Indian stock markets swing between losses and gains as global cues and oil prices move
Indian equity markets show choppy trade, with reports covering both sharp early declines and subsequent rebounds. The BS...