%{{tag.tag}} {{articledata.title}} {{moment(articledata.cdate)}} @{{articledata.company.replace(" ","")}} comment Cryptoprowl / Exodus (NYSE: $EXOD ) reported preliminary first-quarter revenue of $22.7 million, down from $36.0 million a year earlier, as softer digital-asset trading activity weighed on the self-custodial wallet company’s core exchange business. The company also reported a $36.4 million net loss on digital assets, driven mainly by market-related price movements during the quarter. The quarter shows why Exodus is trying to broaden the business beyond market-driven swap revenue. Exchange provider processed volume fell 22% from the fourth quarter to $1.18 billion. At the same time, monthly active users held steady at 1.5 million and quarterly funded users declined to 1.4 million from 1.7 million at year-end. Even with that pressure, Exodus said B2B swap partners contributed 15% of quarterly revenue, with XO Swap continuing to gain share of exchange volume since launch. Management is tying the next stage of growth more closely to self-custodial financial products. Exodus Pay launched across all 50 U.S. states in April, alongside various global markets, as the company works to make payments, digital dollars, bitcoin and other assets usable inside one wallet experience. “We spent a decade building a wallet that millions of people trust with their crypto,” co-founder and CEO JP Richardson said, adding that Exodus is now trying to build “the last financial app you will ever need.” Exodus ended the quarter with $122.6 million in digital assets, cash and cash equivalents, including 628 bitcoin, 1,861 eth and $74.4 million in cash, cash equivalents and stablecoins. CFO James Gernetzke said market conditions affected activity levels, but the company remains focused on building a more durable platform through product expansion and its capital position. That is the cleaner read from the update: Exodus is still exposed to crypto-market cycles, but it is trying to make self-custody feel more like a broader financial operating system than a wallet tied mainly to trading volume. Exodus Movement Inc. (NYSE: EXOD) stock is currently trading at $7.30 U.S. per share.