EXOD Stock Forecast & Price Target

Exodus Movement Inc. has demonstrated impressive growth, with Exchange Provider Processed Volume increasing 113.9% year-over-year to $5.7 billion in 2024, alongside a 31.4% year-over-year rise in the most recent quarter, despite a decline in broader crypto volumes. The company's revenues have surged from $50.6 million in 2022 to $116.3 million in 2024, with first half of 2025 revenue up 20.4% year-over-year, highlighting the robust demand for its self-custodial platform. Additionally, the firm has achieved profitability with an adjusted EBITDA of $44.5 million (38.2% margin) in 2024, supported by diverse partnerships and a growing user base engaging with over 40 blockchains.

Exodus Movement Inc. has experienced a decline in its Exchange Aggregation revenue from key cryptocurrencies, with USDC dropping from 5.3% to 3.6%, USDT decreasing from 21.9% to 19.8%, and ETH falling from 13.2% to 12.1% in 2024 compared to the previous year. Additionally, the potential entry of applications with larger distribution channels into the self-custodial wallet space could lead to a significant loss of market share for Exodus, while management views current share price levels as inefficient for equity acquisition. The risk of losing API providers could further compromise the services available to customers, raising concerns about the platform's long-term viability in a competitive landscape.