Revenue Recognition

3 Months Ended

Mar. 31, 2026

Revenue from Contract with Customer [Abstract]

The following table presents the Company’s revenues disaggregated by geography, based on the addresses of the Company's customers:


(in thousands, except percentages)	Three Months Ended March 31, 2026	Three Months Ended March 31, 2025
		Amount		% of Revenue		Amount		% of Revenue
Republic of the Marshall Islands		$	4,979	21.9	%	$	9,787	27.2	%
Hong Kong		5,732		25.2		7,656		21.3
British Virgin Islands		2,989		13.1		7,414		20.6
Seychelles		3,397		14.9		4,382		12.2
Saint Vincent and Grenadines		1,969		8.7		3,788		10.5
Other(1)		3,681		16.2		2,969		8.2
Revenues		$	22,747	100.0	%	$	35,996	100.0	%

(1)No other individual country or territory accounted for more than 10% of total revenue.

The following table presents the Company's revenue disaggregated by products and services:


(in thousands, except percentages)	Three Months Ended March 31, 2026	Three Months Ended March 31, 2025
		Amount		% of Revenue		Amount		% of Revenue
Exchange aggregation		$	20,003	87.9	%	$	33,807	94.0	%
Fiat onboarding		1,947		8.6		1,140		3.2
Staking		659		2.9		588		1.6
Consulting		108		0.5		337		0.9
Other (1)		30		0.1		124		0.3
Revenues		$	22,747	100.0	%	$	35,996	100.0	%

(1)For the three months ended March 31, 2026 and 2025, other includes less than $0.1 million and $0.1 million related to non-fungible token revenue, respectively.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-7

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-9

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-10

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-15

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-13

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org/606/tableOfContent

+ Details

Exodus Movement, Inc. 10-Q