Fold Holdings Inc (NASDAQ:FLD) reported mixed results for the fourth quarter on Tuesday.The company posted quarterly losses of 8 cents per share which beat the analyst consensus estimate of losses of 14 cents per share. The company reported quarterly sales of $9.100 million which missed the analyst consensus estimate of $10.116 million.Fold Holdings shares fell 6.7% to trade at $1.04 on Wednesday.These analysts made changes to their price targets on Fold Holdings following earnings announcement.Cantor Fitzg ...

Financial Data and Key Metrics Changes - In Q4 2025, the company reported revenues of $9.1 million, an 8% increase year-over-year, while full-year revenues reached $31.8 million, a 34% increase year-over-year [16] - Year-to-date total transaction volumes were $960 million, up 46% year-over-year [16] - The company experienced a GAAP operating loss of $27.8 million for the year, compared to a loss of $5.8 million in the prior year [16] - Adjusted EBITDA was negative $17.2 million, compared to negative $6.3 million in the prior year [17] Business Line Data and Key Metrics Changes - The company added 3,000 new verified accounts in Q4, bringing the total to over 84,000, representing a nearly 20% increase year-over-year [16] - The Bitcoin gift card product generated approximately $722,000 in revenue in Q4, contributing to a total of $740,000 in Q3 [28][29] Market Data and Key Metrics Changes - The Bitcoin ecosystem saw a significant pullback, with Bitcoin's price dropping from $124,000 to $87,000 by the end of 2025, and as low as $60,000 by early February 2026, leading to reduced engagement across the industry [7] - The company noted that the slowdown in Bitcoin activity affected transaction volumes during Q4, reflecting industry-wide dynamics [15] Company Strategy and Development Direction - The company aims to scale its Bitcoin financial services platform by expanding its ecosystem with new products like the Bitcoin Rewards Credit Card and Bitcoin gift cards [5][9] - The credit card is expected to increase transaction volumes, deepen customer engagement, and drive revenue growth, marking the beginning of a new growth phase for the company [9][10] - The company plans to continue expanding its product offerings and evaluate new opportunities to attract customers and improve cash flows [14] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about 2026, expecting the platform to scale significantly with the rollout of the credit card and growth in enterprise partnerships [21] - The company believes that the credit card will capture a greater share of customer spending and enhance customer retention [10][19] Other Important Information - The company eliminated all outstanding convertible debt in February 2026, simplifying its capital structure and improving financial flexibility [18] - The company has nearly $63 million in net assets and $7.7 million in cash and cash equivalents as of December 31, 2025 [17] Q&A Session Summary Question: What were revenues in the fourth quarter related to the Bitcoin gift card? - The company reported approximately $722,000 in revenue from the Bitcoin gift card in Q4, contributing to a total of $740,000 in Q3 [28][29] Question: What's the size of the wait list for the credit card? - The wait list currently has over 80,000 people, and the company plans to aggressively add customers from this list in the coming weeks [30] Question: What is the financial model behind the credit card? - The credit card offers up to 4% back on purchases, with a focus on attracting savers rather than traders, and aims to drive cross-sell opportunities within the platform [36][38] Question: What is the business development strategy for the enterprise side? - The company is enabling businesses like Steak 'n Shake to offer Bitcoin bonuses to employees, which helps onboard their employee base as customers while generating recurring SaaS contracts [45][48]

Financial Data and Key Metrics Changes - In Q4 2025, the company reported revenues of $9.1 million, an 8% increase year-over-year, while full-year revenues reached $31.8 million, a 34% increase year-over-year [19] - Year-to-date total transaction volumes were $960 million, up 46% year-over-year [18] - The company experienced a GAAP operating loss of $27.8 million for the year, compared to a loss of $5.8 million in the prior year [19] - Adjusted EBITDA for the year was -$17.2 million, compared to -$6.3 million in the prior year [19] - As of December 31, 2025, the company had nearly $63 million in net assets, with cash and cash equivalents at $7.7 million [19] Business Line Data and Key Metrics Changes - The company launched the Fold Bitcoin Rewards Credit Card, which is expected to significantly increase transaction volumes and deepen customer engagement [9][10] - The Bitcoin Gift Card has shown strong growth, with a 20% month-over-month increase since its launch, contributing to thousands of new customers [27][29] - The Bitcoin bonus program for businesses, initiated with Steak 'n Shake, is expected to expand and introduce a new revenue stream beyond transaction fees [12] Market Data and Key Metrics Changes - The Bitcoin ecosystem experienced a pullback, with Bitcoin's price dropping from $124,000 to $87,000 by the end of 2025, and further to as low as $60,000 by early February 2026, leading to reduced engagement across the industry [6][7] - The company noted that the slowdown in Bitcoin activity affected transaction volumes during Q4, reflecting industry-wide dynamics [17] Company Strategy and Development Direction - The company aims to scale its Bitcoin financial services platform for both consumers and businesses, focusing on expanding its ecosystem and strengthening partnerships [5] - The launch of the Credit Card is seen as a pivotal moment, expected to capture a greater share of customer spending and increase lifetime value per user [10] - The company plans to continue expanding its product offerings and evaluate new opportunities to attract customers and improve cash flows [15] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about 2026, expecting the platform to scale significantly with the rollout of the Credit Card and continued expansion of consumer products [24] - The management acknowledged the challenges posed by the recent Bitcoin price volatility but emphasized the company's ability to grow through product improvements and customer focus [7][16] Other Important Information - The company eliminated all outstanding convertible debt in February 2026, simplifying its capital structure and improving financial flexibility [20][21] - The Credit Card program is designed to be unit economic positive from day one, with potential for significant revenue growth as it scales [45][46] Q&A Session Summary Question: What were revenues in the fourth quarter related to the Bitcoin Gift Card? - The company reported approximately $722,000 in revenue for Q4, largely attributed to the Bitcoin Gift Card [31] Question: What is the size of the wait list for the Credit Card? - The wait list currently has over 80,000 people, and the company plans to aggressively add customers from this list in the coming weeks [33] Question: What is the financial model behind the Credit Card compared to the Debit Card and Gift Card? - The Credit Card offers up to 4% back on purchases, with a focus on long-term savings, and is expected to have a higher interchange rate compared to the Debit Card [44][78] Question: What is the business development strategy for the Steak 'n Shake initiative? - The company aims to support businesses with its platform, enabling them to offer Bitcoin bonuses to employees, which also serves as a customer acquisition strategy [50][51]

Core Insights - Fold Holdings, Inc. reported a revenue of $31.8 million for the full year 2025, representing a 34% year-over-year increase [1][4] - The company achieved total transaction volumes of $960 million in 2025, marking a 46% year-over-year increase [1][4] - The launch of the Fold Bitcoin Rewards Credit Card and Fold for Business services are significant milestones aimed at expanding the company's market reach [3][5] Financial Performance - For Q4 2025, Fold reported revenue of $9.1 million, an 8.2% increase year-over-year [3][4] - The operating loss for the full year 2025 was $27.7 million, with an adjusted EBITDA loss of $17.2 million [4][26] - The company recorded a net loss of $69.6 million for the year, with a loss per share of $1.65 [4][19] Customer Metrics - Fold's total verified accounts reached approximately 84,000, with an increase of 13,000 new accounts over the year [4] - In Q4 2025, the company added 2,000 new verified accounts [4] Product Launches - The Fold Bitcoin Rewards Credit Card offers up to 4% back on purchases and is expected to significantly expand the company's addressable market [3][9] - Fold for Business allows companies to integrate Bitcoin into payroll and bonuses, with initial partnerships already established [5][9] Strategic Developments - The company retired its convertible notes to streamline capital for growth and focus on operational expansion [5] - Fold aims to scale its operations in 2026 by enhancing customer acquisition, engagement, and cross-selling opportunities [5]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number 001-41168 Fold Holdings, Inc. (Exact name of Registrant as specified in its Charter) (Address of principal executive offices) (Zip Code) ...

Fold Holdings, Inc. (NASDAQ: FLD) Announces Fourth Quarter and Full Year 2025 Results 2025 Revenue: $31.8 million, 34% YoY increase 2025 Transaction Volumes of $960 million, 46% YoY increase Launch of Fold Bitcoin Credit Card and Enterprise Services Retired convertible notes, Streamlined capital for growth PHOENIX – March 17, 2026 Fold Holdings, Inc. (NASDAQ: FLD) ("Fold", "we", or "our"), the first publicly traded bitcoin financial services company, today announced financial results for the fourth quarter ...

Core Viewpoint - Fold Holdings, Inc. is set to hold its earnings conference call for the fourth quarter ended December 31, 2025, on March 17, 2026, at 5:00 PM Eastern Time, with a press release detailing the results to be issued prior to the call [1]. Group 1: Conference Call Information - Participants can join the conference call by logging on or dialing in approximately 5 minutes before the start [2]. - Phone participants must register using the provided Dial-in Registration link to receive the necessary access details, including dial-in number, passcode, and PIN [3]. - A live and archived webcast of the conference call will be available on the Investors section of Fold's website [3]. Group 2: Company Overview - Fold is the first publicly traded bitcoin financial services company, facilitating the earning, saving, and spending of bitcoin for individuals and businesses [4]. - The company is focused on integrating bitcoin into everyday financial experiences through innovative products such as the Fold App, Fold Bitcoin Gift Card™, and Fold Debit Card™ [4].

Core Insights - Fold Holdings, Inc. has successfully executed strategic capital transactions to enhance financial flexibility and simplify its balance sheet, positioning the company for growth, including the upcoming launch of the Fold Credit Card [1][2] Financial Restructuring - The restructuring has achieved critical objectives, including the removal of restrictive legacy structures and the simplification of the balance sheet, which provides operational flexibility for pursuing growth initiatives [2] - The company has retired convertible instruments with a combined principal value of $66.3 million, eliminating complex covenants and enhancing operational and financing flexibility [4] - The extinguishment of convertible notes has reduced potential share dilution by removing an estimated 8.0 to 10.0 million shares from the fully diluted share count [4] Strategic Focus - The company aims to leverage its new financial position to deliver on its product roadmap and drive long-term shareholder value, with a focus on expanding into enterprise financial services and developing new products [2] - Fold's operational strategy includes utilizing released bitcoin collateral to support operational expenses and secure favorable financing arrangements [4] Product Development - The anticipated launch of the Fold Credit Card is a key component of the company's growth strategy, alongside the expansion of its product offerings in both consumer and enterprise finance [2][5] - Fold is recognized as the first publicly traded bitcoin financial services company, integrating bitcoin into everyday financial experiences through innovative products [3]

Core Viewpoint - Fold Holdings, Inc. is set to hold its 2026 annual meeting of shareholders on May 19, 2026, at 12:00 p.m. Eastern Time, which will be conducted virtually [1]. Group 1 - The record date for determining shareholders entitled to notice and to vote at the annual meeting is March 24, 2026, at the close of business [2]. - Fold is the first publicly traded bitcoin financial services company, facilitating the earning, saving, and spending of bitcoin for individuals and businesses [3]. - The company is focused on integrating bitcoin into everyday financial experiences through innovative products like the Fold App, Fold Bitcoin Gift Card™, and Fold Debit Card™ [3].

Core Insights - Fold Holdings, Inc. has launched a new app experience that consolidates rewards, spending, and account activity into a single financial hub for users [1][2][4] - The updated app is designed to enhance user engagement by simplifying the management of bitcoin and traditional financial activities, setting the stage for future product launches, including a bitcoin rewards credit card [2][3][4] - The launch aligns with a significant increase in U.S. crypto transaction volume, which has risen approximately 50% year-over-year, exceeding $1 trillion from January to July 2025 [3] Company Developments - The new Fold app experience will serve as the primary platform for upcoming offerings, creating a centralized hub for customer engagement and product launches [4] - The rollout of the updated app begins immediately and will become the standard experience for users over the coming weeks, available on both the Apple App Store and Google Play [4] - Fold Holdings, Inc. is recognized as the first publicly traded bitcoin financial services company, with over 1,500 BTC in its treasury, and aims to integrate bitcoin into everyday financial experiences through various innovative products [6]