Exodus Q3 net profit increased by more than 20 times, with Bitcoin revenue accounting for over 60%

According to Decrypt, the NYSE-listed company Exodus Movement reported strong growth in its third-quarter performance, with revenue increasing by 51% year-over-year to $30.3 million, and net profit soaring from $800,000 in the same period last year to $17 million.

In the third quarter, Exodus's exchange provider trading volume reached $1.75 billion, an 82% year-over-year increase. The company's Chief Financial Officer James Gernetzke stated that 60% to 65% of monthly revenue is paid in Bitcoin, provided by third-party liquidity providers handling user transactions.

As of the end of the quarter, Exodus held 2,123 BTC, 2,770 ETH, and $50.8 million in cash, USDC, and government bonds, with a total value of digital and liquid assets amounting to $314.7 million. Exodus also announced the acquisition of the Latin American stablecoin payment platform Grateful to expand its payment capabilities and support growth plans in emerging markets.