Financial Performance - Revenue for Q3 2025 reached $7.4 million, representing a 41% year-over-year increase[1] - Net income for the quarter was $0.6 million, with an adjusted EBITDA loss of $4.2 million[3] - Total transaction volume increased to $235 million, up 43% year-over-year[3] - Revenues for the three months ended September 30, 2025, increased to $7,398,939, up 41.2% from $5,241,889 in the same period of 2024[18] - The net loss for the nine months ended September 30, 2025, was $34,899,390, an improvement from a net loss of $65,575,171 in the same period of 2024[19] - Adjusted EBITDA for the nine months ended September 30, 2025, was $(13,101,239), compared to $(6,228,521) in 2024, indicating a decline in core operating performance[23] - Total operating loss for the three months ended September 30, 2025, was $(5,940,318), compared to $(4,169,159) in the same period of 2024[18] - Adjusted EBITDA loss for the three months ended September 30, 2025, was $(4,201,998), compared to $(4,206,774) for the same period in 2024[24] - Adjusted EBITDA loss for the nine months ended September 30, 2025, was $(13,101,239), significantly higher than $(6,228,521) for the same period in 2024[24] - Basic and diluted net loss per share attributable to common stockholders for the three months ended September 30, 2025, was $(0.09), compared to $(0.72) for the same period in 2024[24] - Basic and diluted net loss per share for the nine months ended September 30, 2025, was $(0.33), compared to $(1.07) for the same period in 2024[24] Customer Growth and Engagement - The company added 7,500 new active accounts in the quarter, bringing the total to over 625,000[3] - The upcoming Fold Bitcoin Rewards Credit Card will offer rewards rates up to 3.5% and has over 75,000 people on the waitlist[8] - The Fold Bitcoin Gift Card is now available in approximately 2,000 Kroger locations, expanding customer acquisition channels[5] Financial Position - Total assets increased to $190.97 million as of September 30, 2025, compared to $125.66 million at the end of 2024[17] - Stockholders' equity improved to $94.69 million, up from a deficit of $67.81 million at the end of 2024[17] - Cash and cash equivalents at the end of the period were $6,663,463, down from $18,330,359 at the beginning of the period, reflecting a net decrease of $11,666,896[19] Debt and Expenses - A $45 million revolving credit facility was secured to enhance financial liquidity and support growth initiatives[6] - Operating expenses for the nine months ended September 30, 2025, totaled $44,428,907, a significant increase of 106.5% compared to $21,524,591 in 2024[18] - The company incurred interest expenses of $4,425,703 for the nine months ended September 30, 2025, compared to no interest expenses in the same period of 2024[23] Digital Assets - Fold's Bitcoin Investment Treasury holds 1,526 BTC, valued at approximately $154 million as of November 6, 2025[7] - The company reported a gain on digital assets - investment treasury of $31,203,938 for the nine months ended September 30, 2025, compared to a loss of $377,039 in 2024[19] - The company reported a loss on customer rewards liability of $1,477,444 for the nine months ended September 30, 2025, compared to $2,344,103 in 2024, indicating a reduction in liabilities[19] Shareholder Information - The weighted-average shares used to compute net income (loss) per share for the three months ended September 30, 2025, were 46,911,561, a significant increase from 5,836,882 in 2024[18] - Weighted-average shares used to compute basic and diluted net loss per share for the three months ended September 30, 2025, was 46,911,561, compared to 5,836,882 for the same period in 2024[24]
FTAC Emerald Acquisition Corp.(FLD) - 2025 Q3 - Quarterly Results