Gate News: On March 12, wallet provider Exodus Movement, Inc. announced a full-year net loss of $11.4 million in 2025, compared to a net profit of $113 million in 2024. Despite the company’s record annual revenue of $121.6 million, a 5% increase year-over-year, it still posted a loss. The company attributed its record revenue to growth in its enterprise-to-enterprise product XO Swap, with total swap volume increasing 21% to $6.89 billion, accounting for 19% of revenue in the fourth quarter. The main reason for the loss was a net loss of $18.9 million in digital assets in 2025 (a profit of $96.1 million in 2024). Operating expenses also rose significantly, with technology, development, and user support costs increasing 37% to $62.9 million, and general and administrative expenses growing 68% to $66.3 million. Fourth-quarter revenue dropped 34% from $44.8 million in the same period in 2024 to $29.5 million, with net losses widening to $53.2 million, including a $63.6 million loss in digital assets.
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