Exodus swings to Q3 net loss despite 7% revenue growth

Crypto wallet provider Exodus said it posted $32.5 million in third-quarter revenue, up 7% from $30.3 million a year earlier, but swung to a net loss of $8.3 million from a profit. Ahead of the earnings release, Exodus shares closed up 10.07% at $4.48 on Monday, though the stock remained down about 70.21% year to date. Exodus is also expanding beyond its self-custodial wallet business into financial services. In June, the company partnered with Ondo Finance to launch "Exodus Markets," giving Solana-based wallet users access to more than 200 tokenized stocks, ETFs and other assets.