Wallet provider Exodus expects a net loss of $11 million in 2025.

BlockBeats News, March 12, according to official sources, wallet provider Exodus Movement, Inc. reported a net loss of $11.4 million for the full year of 2025, while achieving a net profit of $113 million in 2024.

Although the company reported record annual revenue of $121.6 million, a 5% year-over-year increase, it still incurred a loss. The record revenue was attributed to the growth of its business-to-business product, XO Swap. The company stated that its annual swap transaction volume grew by 21% to $6.89 billion, contributing 19% of fourth-quarter revenue.

The main reason for the loss was a net loss of $18.9 million in digital assets in 2025, compared to a profit of $96.1 million in 2024. Operating expenses also rose sharply, with technology, development, and user support costs increasing by 37% to $62.9 million, while general and administrative expenses grew by 68% to $66.3 million.

The downturn in the cryptocurrency market was reflected in the fourth quarter's performance, as the company's revenue dropped 34% from $44.8 million in Q4 2024 to $29.5 million. The net loss in Q4 2025 widened to $53.2 million, including a $63.6 million loss in digital assets.