Record revenue of $29.1 million, up 118% year-over-year in Q1Strong momentum in our Wallet-as-a-Service and fiat onboarding productsNYSE American uplisting scheduled for May 9th, 2024 under the ticker EXOD OMAHA, Neb., May 06, 2024 (GLOBE NEWSWIRE) -- Exodus Movement, Inc. (OTCQX:EXOD), (the "Company" or "Exodus") the leading self-custodial cryptocurrency software platform, today announced its preliminary results for the first quarter ended March 31, 2024. The preliminary results are unaudited, subject to completion of the Company's financial reporting processes, based on information known by management as of the date of this press release and do not represent a comprehensive statement of our financial results for the quarter ended March 31, 2024. Preliminary First Quarter 2024 Financial Highlights (Unaudited) In USD millions, except percentages Q1 2024 Q1 2023   % Change Revenue $29.1   $13.3   118% Cost of Revenues 10.7   6.9   56% Total Operating (Income) Expenses1 (48.8)   5.5   983% Income from Operations 67.1   1.0   6920% Operating Margin 231%   7%   N/A Net Income $54.8   $0.8     Adjusted EBITDA2 $13.2   $3.5                 "We are proud to have delivered an exceptional Q1 with record revenue, strong profitability and growing momentum in our emerging product categories including our Wallet-as-a-Service capabilities and fiat onboarding" said JP Richardson, CEO and co-founder of Exodus. "We empower both crypto newcomers as well as veterans to control their wealth. The demand for cryptocurrency continues to grow at a rapid rate as indicated by the appreciation of Bitcoin in Q1 and the growing users on our platform. Our long history of innovating on a highly secure, best-in-class self-custodial digital wallet provides a gateway for people to enter a decentralized future by making it seamless for people to trade across a broad range of exchanges and digital assets. We believe our technological innovation coupled, with our healthy financial profile, strongly positions us for a wealth of future opportunities ahead. As part of the opportunity to drive Exodus' brand awareness, we are scheduled to be uplisted on the NYSE American on May 9th and are thrilled to be part of this new community." First Quarter Operational and Other Financial Highlights Exchange provider processed volume - $1.35 billion in Q1 2024, up 102% from Q1 2023. Bitcoin, Ethereum, and Tether (ETH Network) were the top assets traded in Q1 2024, at 25%, 13%, and 13% of volume, respectively. Monthly Funded Users3 - 1,077,472 in Q1 2024, up 31% from 821,566 in Q1 2023. Monthly Active Users4 - 1,693,702 in Q1 2024, up 33% from 1,276,075 in Q1 2023. Net income - $54.8 million in Q1 2024, compared to $0.8 million in Q1 2023. Adjusted EBITDA5 - $13.2 million in Q1 2024 representing a 277% increase from Q1 2023. Digital assets and cash6 - $206.9 million, including $136.9 million in bitcoin and ethereum and $65.4 million in cash and cash equivalents, USDC, and treasury bills as of March 31, 2024. "We achieved Q1 record revenue of $29.1 million up 118% year-over-year and strong operating leverage," said James Gernetzke, CFO of Exodus. "These results demonstrate the strength of our business model that sets us up for durability ...