EXOD — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-05-11

• Store of value and payment cryptocurrencyExchange Aggregation; Fiat OnboardingBitcoin

• Blockchain economy or blockchain platformExchange Aggregation; Fiat Onboarding; StakingEthereum

• StablecoinExchange Aggregation; Fiat OnboardingEthereum, Algorand, Avalanche, Binance Smart Chain, Arbitrum, Fantom, Polygon, Optimism, Solana, Tron

• All other digital assetsExchange Aggregation; Fiat Onboarding; StakingMultiple Blockchains

• Stablecoins - We expect stablecoin adoption will increase globally as cryptocurrencies become more widely used in the future. User adoption of cryptocurrency networks for payments, or lack thereof, as well as worldwide government regulation, both friendly and adversarial, have and will continue to i…

Text removed vs the prior filing · source: 10-Q · 2025-11-10

• Ethereum, Algorand, Avalanche, Binance Smart Chain, Arbitrum, Polygon, Optimism, Solana, Tron, Fantom, Polygon, Solana

• Stablecoins - We expect stablecoin adoption will increase globally as cryptocurrencies become more widely used in the future. User adoption of cryptocurrency networks for payments, or lack thereof, as well as worldwide government regulation, both friendly and adversarial, have and will continue to i…

• Cloud based infrastructure expense – Cloud infrastructure expenses increased $0.7 million and $0.3 million for the three and nine months ended September 30, 2025 compared to the three and nine months ended September 30, 2024, respectively. We anticipate increased cloud infrastructure expenses as the…

• Investment in human capital – Costs related to investment in human capital increased $5.7 million and $8.3 million for the three and nine months ended September 30, 2025 compared to three and nine months ended September 30, 2024, respectively, primarily due to an increase in salaries, payroll taxes …

• Marketing expenses – Marketing-related costs increased $2.7 million and $7.2 million for the three and nine months ended September 30, 2025 compared to three and nine months ended September 30, 2024, respectively. The increase was primarily due to increased spending on website advertisements targete…

Text added vs the prior filing · source: 10-Q · 2026-05-11

• We have risk exposure related to interest rates and foreign currency exchange rates. There have been no material changes in our primary risk exposures or management of these risks from those disclosed in our Form 10-K.

Text removed vs the prior filing · source: 10-Q · 2025-11-10

• Our exposure to changes in interest rates primarily relates to interest earned on our cash and cash equivalents and U.S. Treasury Bills with maturities of six months or less. We had no outstanding debt subject to interest rate risk as of September 30, 2025 and consequently, we do not currently expec…

• Our investment policy and strategy related to our cash, cash equivalents, and treasury bills is to preserve capital and meet liquidity requirements without increasing risk. Our cash and cash equivalents consist of money market funds denominated in U.S. dollars, cash deposits, and treasury bills acqu…

• Revenues, expenses, and financial results of our foreign subsidiaries are recorded in the functional currency of these subsidiaries. Our foreign currency exposure is primarily related to transactions denominated in Swiss Francs attributable to cash and cash equivalents, and other intercompany transa…

• We recognized net foreign currency gains of $1.9 million and net foreign currency losses of $0.2 million for the nine months ended September 30, 2025 and 2024, respectively, in general and administrative expense, net in the condensed consolidated statements of operations and comprehensive income. If…

• We have not, but may in the future enter into derivatives or other financial instruments in an attempt to hedge our exposure to foreign currency exchange risk. It is difficult to predict the impact hedging activities would have on our results of operations. Additionally, the volatility of exchange r…

Text added vs the prior filing · source: 10-Q · 2026-05-11

• We, under the supervision and with the participation of our management, including our Chief Executive Officer and Chief Financial Officer, performed an evaluation of the effectiveness of our disclosure controls and procedures (as defined in Rule 13a-15(e) under the Securities Exchange Act of 1934, a…

• No change was made in our internal control over financial reporting, as such term is defined in Exchange Act Rule 13a-15(f), during our last fiscal quarter that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

Text removed vs the prior filing · source: 10-Q · 2025-11-10

• Our management, with the participation of, and under the supervision of, our Chief Executive Officer (Principal Executive Officer) and Chief Financial Officer (Principal Financial Officer), evaluated the effectiveness of the Company’s disclosure controls and procedures as defined in Rules 13a-15(e) …

• We identified errors in our previously reported financial information as of and for the year ended December 31, 2021. As a result of the errors that were identified, we identified a material weakness in the Company’s control environment whereby the Company did not design and maintain effective inter…

• Remediation Plan Update of Previously Reported Material Weaknesses

• Management has continued to execute its remediation plan through the period ended September 30, 2025, to address the previously reported material weaknesses in internal control over financial reporting. Throughout the current fiscal year 2025, the Company has added experienced accounting leadership,…

• Hiring and training additional accounting personnel with appropriate level of training and technical expertise and experience to improve segregation of duties and oversight within the financial reporting process;

Text added vs the prior filing · source: 10-Q · 2026-05-11

• During the three months ended March 31, 2026, none of our directors or executive officers adopted or terminated any contract, instruction, or written plan for the purchase or sale of the Company's securities that was intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) or any "no…

Text removed vs the prior filing · source: 10-Q · 2025-11-10

• On September 12, 2025, Matias Javier Olivera Freire, Chief Technical Officer of the Company, adopted a trading plan intended to satisfy Rule 10b5-1(c) under the Exchange Act to sell up to 162,904 shares of the Company’s common stock between December 15, 2025 and December 15, 2026, subject to certain…

• Master Digital Currency Loan Agreement with Galaxy Digital LLC

• The information included in this “Part II-Item 5. Other Information” of this Form 10-Q is provided in lieu of filing such information on a Current Report on Form 8-K under “Item 1.01 Entry into a Material Definitive Agreement” and “Item 2.03 Creation of a Direct Financial Obligation or an Obligation…

• On November 5, 2025, Exodus Movement, Inc. (the “Company”) entered into a Master Digital Currency Loan Agreement (the “Loan Agreement”) with Galaxy Digital LLC (the “Lender”). The Loan Agreement establishes the terms and conditions under which the Company may from time to time borrow U.S. Dollars an…

• Each Loan is secured by cash or digital currency collateral, and the Company has granted the Lender a first-priority security interest in such collateral to secure its obligations under the Loan Agreement. The Loan Agreement includes customary provisions regarding margin calls, events of default, an…