OMAHA, Neb., July 17, 2026 (GLOBE NEWSWIRE) --
Exodus Movement, Inc.
(NYSE American: EXOD) (“Exodus” or the “Company”) today announced an operating realignment that includes a reduction of approximately 25% of the global workforce.
The action is intended to better align its cost structure and organizational priorities with its strategy to build a full-stack card issuance and payments platform, while maintaining expense discipline in light of current market conditions and continuing the integration of Monavate and Baanx.
“These decisions are never easy because they affect talented people who have helped build Exodus,” said JP Richardson, Co-Founder and Chief Executive Officer of Exodus. “We are deeply grateful for their contributions and committed to supporting them through this transition. These actions position Exodus for its next phase as we build a full-stack payments platform that delivers meaningful, everyday utility.”
Affected team members will receive severance, continued benefits, and other transition support.
Exodus expects to recognize approximately $2.5 million to $3.5 million of pre-tax charges in connection with the action, consisting primarily of severance and related personnel costs. The Company expects the action to generate approximately $10 million to $13 million of annualized cash operating expense savings and to see the full benefit of these savings in 2027.
The acquisitions of Monavate and Baanx have materially expanded Exodus’s capabilities, customer base, and geographic reach. As the integration progresses, the Company will continue evaluating its combined cost base and operating model to ensure resources are aligned with its strategic priorities.
About Exodus
Founded in 2015, Exodus Movement, Inc. (NYSE American: EXOD) is pioneering self-custodial finance by giving people the tools to earn rewards, spend, manage, and swap digital assets across borders, all without giving up control. Exodus serves millions of users through products built on a simple principle: your money should be yours.
Exodus also provides payments, card and digital-asset infrastructure to fintech, crypto and enterprise clients through its consumer and enterprise platforms. For more information, visit exodus.com.
Investor Contact
investors@exodus.com
Media Contact
Aubrey Strobel / Elena Nisonoff
Halcyon Communications
exodus@halcyonpr.xyz
Disclosure Information
Exodus uses the following as means of disclosing material nonpublic information and for complying with disclosure obligations under Regulation FD: websites
exodus.com/investors
and
exodus.com
; press releases; public videos, calls, and webcasts; and social media: X (@exodus and JP Richardson's feed @jprichardson), Facebook, LinkedIn, and YouTube.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, may be forward-looking statements. Forward-looking statements are based on our beliefs and assumptions and on information currently available to us as of the date hereof. In some cases, you can identify forward-looking statements by the following words: “will,” “expect,” “would,” “should,” “intend,” “believe,” “expect,” “likely,” “believes,” “views”, “estimates”, or other comparable terminology.
Forward-looking statements in this document include, but are not limited to, management statements regarding management’s confidence in our products, services, business trajectory and plans, expectations regarding demand for our products, and volatility and trading volumes of digital asset markets. Such forward-looking statements involve 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. Such factors include those set forth in “Item 1. Business” and “Item 1A. Risk Factors” of Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on March 11, 2026, as well as in our other reports filed with the SEC from time to time.
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.
Source: Exodus Movement, Inc.
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Exodus Movement Announces 25% Workforce Reduction to Support Payments Platform Strategy
Exodus Movement, Inc. announces a 25% workforce reduction to align costs with strategic goals and enhance its payments platform.
Quiver AI Summary
Exodus Movement, Inc. announced a significant workforce reduction of approximately 25% as part of an operational realignment aimed at enhancing its cost structure and aligning with its strategy to develop a comprehensive card issuance and payments platform. This decision, according to CEO JP Richardson, acknowledges the contributions of affected employees, who will receive severance and support during the transition. The company anticipates incurring pre-tax charges of about $2.5 million to $3.5 million but expects to generate annualized cash savings of $10 million to $13 million by 2027. The realignment is part of the ongoing integration of recent acquisitions Monavate and Baanx, which have expanded Exodus's capabilities and market reach.
Potential Positives
Potential Negatives
FAQ
What is the reason behind Exodus's workforce reduction?
Exodus is realigning operations to better align costs with its strategy for a full-stack card issuance and payments platform.
How many employees will be affected by the Exodus layoff?
Approximately 25% of the global workforce will be reduced as part of this realignment.
What support will Exodus offer to affected employees?
Affected employees will receive severance, continued benefits, and transition support during this process.
What financial impact does Exodus expect from the layoffs?
Exodus expects to incur $2.5 million to $3.5 million in pre-tax charges but aims to save $10 million to $13 million annually.
How will the layoff affect Exodus's future plans?
The layoffs are intended to streamline operations and resources as Exodus integrates Monavate and Baanx, supporting future growth.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$EXOD Insider Trading Activity
$EXOD insiders have traded $EXOD stock on the open market 4 times in the past 6 months. Of those trades, 0 have been purchases and 4 have been sales.
Here’s a breakdown of recent trading of $EXOD stock by insiders over the last 6 months:
To track insider transactions, check out Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API insider transaction endpoint.
$EXOD Revenue
$EXOD had revenues of $22.7M in Q1 2026. This is a decrease of -36.81% from the same period in the prior year.
You can track EXOD financials on Quiver Quantitative's EXOD stock page.
You can access data on EXOD stock through the Quiver Quantitative API.
$EXOD Hedge Fund Activity
We have seen 14 institutional investors add shares of $EXOD stock to their portfolio, and 11 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.
$EXOD Price Targets
Multiple analysts have issued price targets for $EXOD recently. We have seen 2 analysts offer price targets for $EXOD in the last 6 months, with a median target of $18.5.
Here are some recent targets:
Full Release
OMAHA, Neb., July 17, 2026 (GLOBE NEWSWIRE) -- Exodus Movement, Inc. (NYSE American: EXOD) (“Exodus” or the “Company”) today announced an operating realignment that includes a reduction of approximately 25% of the global workforce.
The action is intended to better align its cost structure and organizational priorities with its strategy to build a full-stack card issuance and payments platform, while maintaining expense discipline in light of current market conditions and continuing the integration of Monavate and Baanx.
“These decisions are never easy because they affect talented people who have helped build Exodus,” said JP Richardson, Co-Founder and Chief Executive Officer of Exodus. “We are deeply grateful for their contributions and committed to supporting them through this transition. These actions position Exodus for its next phase as we build a full-stack payments platform that delivers meaningful, everyday utility.”
Affected team members will receive severance, continued benefits, and other transition support.
Exodus expects to recognize approximately $2.5 million to $3.5 million of pre-tax charges in connection with the action, consisting primarily of severance and related personnel costs. The Company expects the action to generate approximately $10 million to $13 million of annualized cash operating expense savings and to see the full benefit of these savings in 2027.
The acquisitions of Monavate and Baanx have materially expanded Exodus’s capabilities, customer base, and geographic reach. As the integration progresses, the Company will continue evaluating its combined cost base and operating model to ensure resources are aligned with its strategic priorities.
About Exodus
Founded in 2015, Exodus Movement, Inc. (NYSE American: EXOD) is pioneering self-custodial finance by giving people the tools to earn rewards, spend, manage, and swap digital assets across borders, all without giving up control. Exodus serves millions of users through products built on a simple principle: your money should be yours.
Exodus also provides payments, card and digital-asset infrastructure to fintech, crypto and enterprise clients through its consumer and enterprise platforms. For more information, visit exodus.com.
Investor Contact
investors@exodus.com
Media Contact
Aubrey Strobel / Elena Nisonoff
Halcyon Communications
exodus@halcyonpr.xyz
Disclosure Information
Exodus uses the following as means of disclosing material nonpublic information and for complying with disclosure obligations under Regulation FD: websites exodus.com/investors and exodus.com ; press releases; public videos, calls, and webcasts; and social media: X (@exodus and JP Richardson's feed @jprichardson), Facebook, LinkedIn, and YouTube.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, may be forward-looking statements. Forward-looking statements are based on our beliefs and assumptions and on information currently available to us as of the date hereof. In some cases, you can identify forward-looking statements by the following words: “will,” “expect,” “would,” “should,” “intend,” “believe,” “expect,” “likely,” “believes,” “views”, “estimates”, or other comparable terminology.
Forward-looking statements in this document include, but are not limited to, management statements regarding management’s confidence in our products, services, business trajectory and plans, expectations regarding demand for our products, and volatility and trading volumes of digital asset markets. Such forward-looking statements involve 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. Such factors include those set forth in “Item 1. Business” and “Item 1A. Risk Factors” of Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on March 11, 2026, as well as in our other reports filed with the SEC from time to time.
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.
Source: Exodus Movement, Inc.
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