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FLD

Fold Holdings Inc

FLD

Fold Holdings Inc • NASDAQ
$3.25 ▲ 1.88% (+0.06)
Market Cap $156.93 M
52w High $14.00
52w Low $2.51
Dividend Yield 0%
P/E 5.42
Volume 26.49K
Outstanding Shares 48.29M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $7.399M ▼ $2.846M ▼ $554.242K ▼ 7.491% ▼ $0.01 ▼ $1.965M ▼
Q2-2025 $8.176M ▲ $2.999M ▼ $13.426M ▲ 164.209% ▲ $0.29 ▲ $15.508M ▲
Q1-2025 $7.088M ▲ $3.326M ▲ $-48.879M ▼ -689.621% ▼ $-1.92 ▼ $-47.513M ▼
Q4-2024 $-15.312M ▼ $-35.549M ▼ $63.707M ▲ -416.059% ▲ $1.65 ▲ $955.615K ▲
Q3-2024 $5.242M $8.582M $-62.311M -1.189K% $-8.81 $-4.233M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $6.663M ▲ $190.966M ▲ $96.277M ▲ $94.689M ▲
Q2-2025 $6.61M ▼ $182.103M ▲ $93.578M ▲ $88.525M ▲
Q1-2025 $11.7M ▲ $148.548M ▲ $76.673M ▲ $71.876M ▲
Q4-2024 $906.043K ▼ $52.216M ▼ $60.539M ▼ $-8.323M ▲
Q3-2024 $10.759M $83.655M $157.663M $-74.008M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $554.242K ▼ $-2.475M ▲ $-949.219K ▲ $3.478M ▲ $53.744K ▲ $-2.66M ▲
Q2-2025 $13.426M ▲ $-3.997M ▲ $-979.656K ▲ $-113.296K ▼ $-5.09M ▲ $-4.165M ▲
Q1-2025 $-48.879M ▼ $-4.954M ▼ $-1.829M ▼ $152.587K ▲ $-6.631M ▼ $-5.22M ▼
Q4-2024 $63.707M ▲ $-40.273K ▲ $119.029M ▲ $-121.008M ▼ $-3.481M ▼ $409.126K ▲
Q3-2024 $-62.311M $-2.179M $-584.988K $5M $2.236M $-2.385M

Five-Year Company Overview

Income Statement

Income Statement Fold is still at a very early revenue stage. Sales are tiny and have not shown a clear upward trend yet. The business has swung between small profits and small losses, which likely reflect one‑off items and the impact of crypto price movements more than stable, recurring income. Overall, the company has not yet demonstrated a consistent ability to grow revenue or earn steady profits, which makes its future earnings path uncertain.

Balance Sheet

Balance Sheet The balance sheet is thin and looks fragile. Total assets are small, reported cash is effectively zero, and equity has slipped into negative territory, which means liabilities slightly exceed assets. A bit of debt has appeared recently, so the company seems more reliant on outside funding than on its own capital base. This structure leaves Fold sensitive to shocks, funding conditions, and swings in the value of any crypto holdings it may carry.

Cash Flow

Cash Flow Cash generation is basically flat to slightly negative. Operating cash flow has hovered around break‑even, with a small outflow in the most recent year and no meaningful investment spending. This suggests the company is not burning large amounts of cash right now, but it is also not self‑funding growth. Any expansion or new initiatives are likely to depend on external capital or partnerships rather than strong internal cash generation.

Competitive Edge

Competitive Edge Fold occupies a narrow but distinct niche: making Bitcoin part of everyday spending. Its early entry into Bitcoin rewards, visible brand in the crypto community, and hundreds of thousands of users give it a first‑mover edge. The deep integration with Visa, banking partners, and its “Bitcoin‑back” rewards model create switching costs for engaged users. However, it operates in a highly competitive and fast‑changing fintech and crypto space, faces regulatory uncertainty, and is vulnerable to swings in sentiment around digital assets.

Innovation and R&D

Innovation and R&D The company’s core innovation is a “Bitcoin‑first” financial experience, letting users earn Bitcoin on normal purchases and even bill payments. It has built infrastructure that connects a Bitcoin wallet, bank account, and Visa card in a way that hides most of the crypto complexity from users. Planned products like a Bitcoin rewards credit card, gift cards, and potentially lending or other services show a pipeline of ideas. There is also talk of offering its technology to other firms as infrastructure, which could open new revenue streams. Execution risk, regulatory changes, and crypto volatility are the main innovation risks.

Summary

Fold is an early‑stage fintech player trying to bridge traditional finance and Bitcoin. Financially, it is still very small, not yet showing clear revenue growth or durable profitability, and its balance sheet and cash flows are thin, which adds risk. Strategically, the company has carved out a recognizable position in Bitcoin rewards, benefits from meaningful partnerships, and is pushing an ambitious product roadmap. The long‑term story depends on whether it can turn its user base, technology, and Bitcoin‑centric model into steady, scalable, and more predictable earnings while managing the inherent volatility and regulatory uncertainty of the crypto ecosystem.

NEWS

November 13, 2025 · 4:23 PM UTC

Stonegate Capital Partners Initiates Coverage on Fold Holdings Inc. (FLD)

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November 10, 2025 · 4:15 PM UTC

Fold Holdings, Inc. (NASDAQ: FLD) Announces Third Quarter 2025 Results

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October 31, 2025 · 10:00 AM UTC

Fold and Steak 'n Shake Bring Bitcoin Rewards to the Table with New $5 Bitcoin Promotion

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October 27, 2025 · 8:30 AM UTC

Fold To Release Third Quarter 2025 Results November 10th

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