OMAHA, Neb., June 08, 2023 (GLOBE NEWSWIRE) — Exodus Movement, Inc. (tZERO: EXOD) (OTC: EXOD), (“the Company” or “Exodus”) the leading self-custodial cryptocurrency software platform, today announced its fiscal 2023 results for the first quarter ended March 31, 2023. The Company reported first quarter revenue of $13.3 million, a decrease of 13% year-over-year from Q1 2022.
First Quarter 2023 Financial Highlights (Unaudited)
In USD millions, except percentagesQ1 2023Q1 2022 (restated) % ChangeRevenue$13.3 $15.4  (14%)Cost of Revenues 6.9  7.6  (9%)Total Operating Expenses 5.5  13.1  (58%)Income (Loss) from Operations 1.0  (5.4) N/A Operating Margin 7% (35%) N/A Net Income (Loss) 0.8 $(3.4)  Adjusted EBITDA1$3.5 $0.6            
“We’re thrilled that our 800,000 loyal customers persevered through last year’s downturn to reach the brighter days ahead,” said JP Richardson, CEO and co-founder of Exodus. “In the first quarter we s

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