Exodus Movement Inc's Business Segments

Exodus Movement, Inc., founded in 2015 and incorporated in Delaware in 2016, develops and operates the Exodus Platform, a self-custodial digital asset wallet for desktop and mobile devices. The platform allows users to manage over 700,000 digital assets, with private keys encrypted locally on users' devices. Exodus offers various wallet options, including hot and cold wallets, and provides access to third-party services such as digital asset exchanging, fiat onboarding, and staking for more than 30,000 digital assets. The platform also integrates third-party applications, including news apps. Exodus maintains its own server infrastructure to ensure uptime and provides user support. The company is primarily controlled by founders Jon Paul Richardson, CEO and Chairperson, and Daniel Castagnoli, President of 3ZERO and board member, who hold significant voting power. Exodus redomesticated from Delaware to Texas in December 2025 and is listed on the NYSE American exchange.

The Company operates as a single operating and reportable segment. The Chief Executive Officer, who serves as the Chief Operating Decision Maker (CODM), reviews consolidated financial information to make operating decisions, allocate resources, and evaluate financial performance. Segment expenses are provided to the CODM on the same basis as disclosed in the consolidated statements of operations and comprehensive loss income. The CODM does not assess performance or allocate resources based on segment assets; therefore, such information is not presented. The Company's primary customers are Application Programming Interface (API) Providers who pay for access to the Exodus Platform. Revenue from API Providers is recognized based on user interactions through APIs, including digital asset-to-digital asset exchanges, fiat-to-digital asset conversions, and digital asset staking. The Company has agreements with API Providers, integrating their APIs into the Exodus Platform. API Providers pay fees for certain user interactions, typically transactions conducted through the API. Contracts with API Providers are primarily transaction-based or tiered subscription contracts based on volume. The performance obligations under these contracts enable API Providers to offer software services that allow users of Exodus' un-hosted self-custodial digital asset wallet to exchange digital assets via the Exchange Services, integrated through the Exchange API.