Exodus 1Q revenue falls 37% YoY

Cryptocurrency wallet provider Exodus (EXOD) reported first-quarter revenue of $22.7 million, a 37% decrease from the same period last year. According to The Block, the company attributed the decline primarily to a 40.8% drop in revenue from its integrated exchange services. The company posted a net loss of $32.1 million for the quarter, widening from a $12.9 million loss in the first quarter of the previous year.