Overview

• US cryptocurrency platform's preliminary Q1 revenue declined and missed analyst expectations

• Company cited lower trading activity in a challenging digital asset market as reason for decline

• Exodus launched Exodus Pay in all 50 states and advanced plans to diversify revenue streams

Outlook

• Company did not provide specific financial guidance for future quarters or full year in press release

Result Drivers

• LOWER TRADING ACTIVITY - Co said revenue decline was driven by lower trading activity in a challenging digital asset market

• REVENUE DIVERSIFICATION INITIATIVES - Co advanced initiatives to diversify revenue streams and reduce reliance on market-driven trading activity, including the launch of Exodus Pay and expansion of B2B offerings

Company press release: ID:nGNX43Q1zw

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q1 Revenue	Miss	$22.70 mln	$25.68 mln (6 Analysts)

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the blockchain & cryptocurrency peer group is "buy"

• Wall Street's median 12-month price target for Exodus Movement Inc is $20.00, about 163.5% above its April 30 closing price of $7.59

• The stock recently traded at 39 times the next 12-month earnings vs. a P/E of 10 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.