Exodus Movement, Inc. Files Q3 2024 10-Q

TL;DR

**EXODUS MOVEMENT Q3 10-Q FILED: Financials and operations update for investors.**

AI Summary

Exodus Movement, Inc. filed its 10-Q for the period ending September 30, 2024. The filing details financial performance and operational updates for the third quarter. Key financial data and disclosures relevant to investors and stakeholders are presented.

Why It Matters

This filing provides crucial insights into Exodus Movement, Inc.'s financial health and operational status for the third quarter of 2024, impacting investor decisions.

Risk Assessment

Risk Level: medium — The filing is a standard quarterly report, but the nature of the cryptocurrency industry introduces inherent volatility and regulatory risks.

Key Numbers

• Q3 2024 — Reporting Period (The financial and operational data pertains to this quarter.)
• 2024-09-30 — As of Date (The end date for the reported financial period.)
• 2024-11-13 — Filing Date (The date the 10-Q was officially submitted to the SEC.)

Key Players & Entities

• Exodus Movement, Inc. (company) — Filer of the 10-Q
• 0000950170-24-125820 (other) — Accession Number for the filing
• 20240930 (date) — Period of Report
• 20241113 (date) — Filing Date
• 15418 WEIR ST., #333 (address) — Business and Mail Address
• OMAHA, NE 68137 (address) — Business and Mail Address
• 833-992-2566 (phone_number) — Business Phone Number

FAQ

Key Financial Figures

• $0.000001 — red Class A Common Stock, par value $0.000001 per share. EXOD N/A Indicate by c

Filing Documents

• exod-20240930.htm (10-Q) — 2131KB
• exod-ex31_1.htm (EX-31.1) — 14KB
• exod-ex31_2.htm (EX-31.2) — 15KB
• exod-ex32_1.htm (EX-32.1) — 8KB
• exod-ex32_2.htm (EX-32.2) — 8KB
• 0000950170-24-125820.txt ( ) — 9496KB
• exod-20240930.xsd (EX-101.SCH) — 1124KB
• exod-20240930_htm.xml (XML) — 2109KB

Financial Statements (Unaudited)

Financial Statements (Unaudited) 2 Condensed Consolidated Balance Sheets 2 Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) 3 Condensed Consolidated Statements of Changes in Stockholders' Equity 4 Condensed Consolidated Statements of Cash Flows 5 Notes to Unaudited Condensed Consolidated Financial Statements 6 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 16 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 21 Item 4.

Controls and Procedures

Controls and Procedures 22 PART II. OTHER INFORMATION 23 Item 1.

Legal Proceedings

Legal Proceedings 23 Item 1A.

Risk Factors

Risk Factors 23 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 23 Item 3. Defaults Upon Senior Securities 23 Item 4. Mine Safety Disclosures 23 Item 5. Other Information 23 Item 6. Exhibits 24

Signatures

Signatures 25 i Cautionary Note on Forward-Looking Statements This Report contains "forward-looking statements," as that term is defined by the federal securities laws. All forward-looking statements are based upon our current expectations and various assumptions and apply only as of the date made. Our expectations, beliefs, and projections are expressed in good faith, and we believe there is a reasonable basis for them. However, there can be no assurance that our expectations, beliefs and projections will be achieved. Forward-looking statements are generally identified by the words "may," "will," "could," "would," "should," "expect," "intend," "plan," "anticipate," "believe," "estimate," "predict," "project," "potential," "continue," "ongoing," "forecast," as well as variations of such words or similar expressions.

Forward-looking statements include statements concerning

Forward-looking statements include statements concerning: our business plans and strategy; projected profitability, performance or cash flows; future capital expenditures; our growth strategy, including our ability to grow organically and through mergers and acquisitions ("M&A"); anticipated financing needs; business trends; our capital allocation strategy; liquidity and capital management; and other information that is not historical information. There are a number of risks, uncertainties and other important factors that could cause our actual results to differ materially from those expressed or implied by our forward-looking statements, including those set forth in "Item 1. Business" and "Item 1A. Risk Factors" of Amendment No. 4 to our Registration Statement on Form 10 filed with the Securities and Exchange Commission (the "SEC") on October 10, 2024 (the "Form 10"). All forward-looking statements are expressly qualified in their entirety by such cautionary statements. Readers are cautioned not to place undue reliance on such forward-looking statements. Except as required by law, we undertake no obligation to update or revise any forward-looking statements that have been made to reflect events or circumstances that arise after the date made or to reflect the occurrence of unanticipated events. 1

—FIN ANCIAL INFORMATION

PART I—FIN ANCIAL INFORMATION Ite m 1. Financial Statements. Exodus Movement, Inc. and Subsidiaries Condensed Consoli dated Balance Sheets (Unaudited) (In thousands, except share and par value) September 30, December 31, 2024 2023 ASSETS CURRENT ASSETS Cash and cash equivalents $ 26,547 $ 11,376 Restricted cash and cash equivalents 83 - U.S. dollar coin ($ 0 and $ 500 USDC restricted as of September 30, 2024 and December 31, 2023 respectively) 5 517 Treasury bills 43,200 43,151 Accounts receivable 3,014 3,240 Prepaid expenses 3,232 1,440 Other current assets 771 5 Total current assets 76,852 59,729 OTHER ASSETS Fixed assets, net 379 317 Digital assets 124,867 35,010 Software assets, net 7,315 8,051 Other long-term asset 40 - Indefinite-lived assets 2,096 1,945 Other investments 100 100 Deferred tax assets - 6,567 Total other assets 134,797 51,990 TOTAL ASSETS $ 211,649 $ 111,719 LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES Accounts payable $ 1,600 $ 1,061 Other current liabilities 7,841 6,485 Total current liabilities 9,441 7,546 LONG-TERM LIABILITIES Other long-term liabilities 447 412 Deferred tax liability 10,607 - Total long-term liabilities 11,054 412 Total liabilities 20,495 7,958 STOCKHOLDERS' EQUITY Preferred stock $ 0.000001 par value, 5,000,000 shares authorized, no shares issued and outstanding - - Class A Common Stock $ 0.000001 par value, 300,000,000 shares authorized, - - 6,484,434 issued and outstanding as of September 30, 2024 - - 4,320,005 issued and outstanding as of December 31, 2023 - - Class B Common Stock $ 0.000001 par value, 27,500,000 shares authorized, - - 20,337,375 issued and outstanding as of September 30, 2024 - - 21,760,855 issued and outstanding as of December 31, 2023 - - ADDITIONAL PAID IN