Exodus Movement Inc. Class A Common Stock (EXOD)

FairStock Score: 33/100 — RISKY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I look for a durable business, honest numbers, and a margin of safety. Exodus is a software wallet for digital assets, an area that is fast-changing and competitive. The filed figures show a business that can make money: in fiscal year 2023, the year ended 2023-12-31, revenue was $56.2M and net income was $12.8M; in fiscal year 2024, the year ended 2024-12-31, revenue was $116.3M and net income was $113.0M; and in fiscal year 2025, the year ended 2025-12-31, revenue was $121.6M but net income was a loss of $11.4M. The trend has broken. In fiscal Q1 2026, the quarter ended 2026-03-31, net loss was $32.1M; in fiscal Q2 2026, the quarter ended 2026-06-30, revenue was $26.2M and net loss was $18.6M. Revenue in fiscal Q2 2026 was only slightly above the $25.8M in fiscal Q2 2025, the quarter ended 2025-06-30. Free cash flow is negative $66.5M over the trailing twelve months, a -26.3% FCF yield, and FairStock's Piotroski F-Score of 1/9 and Altman Z-Score of 0.42 point to financial stress. At the 2026-10-13 close of $6.03, FairStock calculates P/B at 0.90 and market cap at $252.8M. A low price relative to book can be a value trap if losses erode that book. The computed Lynch category is TURNAROUND, based on a loss in the latest year after earlier profits. Turnarounds can pay, but I need evidence of a moat and a path to cash generation. Here, the evidence is thin. FairStock Score 33/100 and beta 3.04 tell me this is speculative and volatile. I would want to see positive net income and positive free cash flow before calling it a Graham-style bargain.

In plain English: Exodus Movement makes a digital wallet app that lets people hold and swap crypto without handing control to a bank or exchange, plus services to buy, sell, and stake digital assets. It has made money in past years but is now losing money and burning cash, so the business looks weak today. At $6.03, the price is low compared with its accounting net assets, but the losses make it hard to call the stock clearly cheap.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer