NYSE-listed Exodus posts solid third-quarter gains as Bitcoin revenues soar

NYSE-listed Exodus Movement this week reported a stronger third-quarter performance as companies across the sector leaned more heavily on Bitcoin-driven activity while broader business accumulation cooled.

The company reported a 51% year-over-year revenue increase to $30.3 million in the third quarter, supported by higher swap activity and higher volumes from exchange providers.

Net income rose to $17 million, compared with $800,000 a year earlier, according to the company’s third-quarter results. submit. Exchange providers’ volume reached $1.75 billion, an increase of 82% over the previous year.

Exodus ended the quarter with 2,123 BTC, 2,770 ETH and $50.8 million in cash, USDC and treasury bills, for a total of digital and liquid assets worth $314.7 million.

Financial director James Gernetzke said this Declutter that 60% to 65% of monthly Bitcoin revenues are paid by third-party liquidity providers that process user swaps.

“As transaction volume increases, especially on the B2C side, which is our core business, we earn more Bitcoin-based revenue,” he said.

Exodus uses some of that Bitcoin to cover operating costs, including salaries and vendor bills, and adds the rest to its coffers. The company occasionally converts Bitcoin to USDC to meet liquidity requirements.

Exodus also announced the acquisition of Grateful, a Latin America-based stablecoin payment platform. The company said the deal will expand its payment capabilities and support planned growth in emerging markets.

The update comes as Bitcoin accumulation by companies in the broader market has slowed.

Companies added 14,447 BTC in October, the smallest monthly increase of 2025, after acquiring more than 38,000 BTC in September. Declutter recently reported.

The total tracked holdings of companies, governments and ETFs still reached a record 4.05 million BTC, valued at around $444 billion, according to a recent report from BitcoinTreasuries.net. Sales remained limited, with companies only selling 39 BTC during the month.

Several treasury-focused companies have turned to capital efficiency measures, such as buybacks and credit facilities, as equity valuations decline and financing conditions tighten.

Analysts estimate that publicly traded companies now account for about 5% of Bitcoin’s illiquid supply, with long-term holders making up an increasing share of the asset base.

Gernetzke said Bitcoin-denominated revenue remains central to Exodus’ business model, with the company looking to integrate the Grateful acquisition as it expands its payments offering.