---
title: "Exodus Faces Lower Revenue Forecasts After 25% Workforce Cut, Benchmark Says"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/293234842.md"
description: "Benchmark reiterated its Buy rating on Exodus after the crypto wallet provider announced a 25% workforce cut. According to NS3.AI, analyst Mark Palmer lowered his price target to $12 from $23. Palmer also cut his second-quarter and full-year revenue forecasts, citing bear market conditions in crypto over the past nine months."
datetime: "2026-07-20T15:28:32.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/293234842.md)
  - [en](https://longbridge.com/en/news/293234842.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/293234842.md)
---

# Exodus Faces Lower Revenue Forecasts After 25% Workforce Cut, Benchmark Says

Benchmark reiterated its Buy rating on Exodus after the crypto wallet provider announced a 25% workforce cut. According to NS3.AI, analyst Mark Palmer lowered his price target to $12 from $23. Palmer also cut his second-quarter and full-year revenue forecasts, citing bear market conditions in crypto over the past nine months.

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