Financial Data and Key Metrics Changes - For Q3 2025, the company reported transaction volumes of $235 million, an increase of 43% year-over-year, and net revenues of $7.4 million, up 41% year-over-year [7][18] - Year-to-date revenues through September 30 were $22.7 million, reflecting a 48% increase over the same period in 2024, with total transaction volumes of $753 million, representing a 74% increase [18][19] - The company recorded a GAAP net income of $0.6 million in Q3 2025, compared to a net loss of $62.3 million in Q3 2024, primarily driven by a $10.2 million increase in the fair value of its Bitcoin investment treasury [19][20] Business Line Data and Key Metrics Changes - The company is experiencing organic growth, with significant contributions from new customers and deeper penetration into the existing customer base, particularly through its Bitcoin gift card and credit card offerings [18][21] - The upcoming Bitcoin Rewards credit card is expected to enhance customer acquisition and increase transaction volumes, with a waitlist exceeding 80,000 users [9][40] Market Data and Key Metrics Changes - The company is well-positioned to capture the growing demand for Bitcoin financial services, particularly among millennials who are expected to control nearly $80 trillion in wealth in the coming years [7][8] - The company has established partnerships with Visa and Stripe for its credit card, enhancing its credibility and distribution capabilities in the market [8][9] Company Strategy and Development Direction - The company aims to create a comprehensive ecosystem that integrates earning, saving, and spending in Bitcoin, with a focus on innovative financial products [14][15] - The strategy includes monitoring regulatory changes and exploring opportunities in loan products, retirement plans, and insurance offerings [14] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future, citing the growing adoption of Bitcoin and the company's unique position to meet this demand [6][8] - The company anticipates continued revenue growth driven by new product lines and increased marketing investments, particularly in Q4, which is historically the highest volume quarter [24][65] Other Important Information - The company currently holds 1,526 Bitcoin valued at approximately $154 million, representing a 53% increase in holdings since going public [14][22] - The company has a healthy balance sheet with cash and cash equivalents of $6.7 million and no unsecured debt [22] Q&A Session Summary Question: Can you share early data and interest regarding the Bitcoin gift card? - Management noted high excitement and healthy volume from the gift card rollout, with significant customer engagement expected during the holiday season [29][30] Question: What does the expansion of gift card locations look like? - The company is exploring various retail and promotional opportunities, including partnerships with sports venues and loyalty programs [33][34] Question: How is the demand for the credit card trending? - The waitlist for the credit card has surpassed 80,000, indicating strong interest and growth potential in this new product category [39][40] Question: How will customer acquisition and marketing spend change? - The gift card is becoming a successful customer acquisition tool, with negative acquisition costs, allowing the company to generate revenue while acquiring new customers [43][44] Question: Can you elaborate on the capital raise and strategic opportunities? - The company is utilizing a revolving credit facility to access the value of its Bitcoin without selling it, aligning with its long-term growth strategy [53][54] Question: What is the strategy for converting active accounts into verified users? - The upcoming credit card is expected to be a key driver in converting existing users into deeper product lines, enhancing overall engagement [78][80]

Core Insights - Fold Holdings, Inc. reported a revenue of $8.2 million for Q2 2025, marking a 59% year-over-year increase, with a net income of $13.4 million [1][5] - The company experienced significant growth in new accounts, which increased by over 233% year-over-year, and transaction volumes rose by 124% year-over-year [1][5] - Fold successfully secured a $250 million equity purchase facility to enhance its Bitcoin holdings, currently holding 1,492 BTC valued at approximately $180 million [1][3][5] Financial Highlights - Revenue for Q2 2025 was $8.2 million, a 59% increase from the previous year [5] - Net income stood at $13.4 million, with an adjusted EBITDA loss of $4.7 million [5][20] - Earnings per share were reported at $0.28, with an adjusted EBITDA loss per share of $0.10 [5][20] Key Operating Metrics - Total transaction volume reached $265 million, reflecting a 124% increase year-over-year [5] - The number of active accounts exceeded 615,000, with an addition of 10,000 new accounts in the quarter [5] - Verified accounts increased to over 80,000, with 3,000 new verified accounts added [5] Strategic & Business Updates - The Fold Credit Card has generated significant consumer interest, with a waitlist exceeding 75,000 applicants [3][6] - The Fold Bitcoin Gift Card was successfully launched and is gaining traction through partnerships with online retailers [3][6] - The company launched Bitcoin Sends, allowing users to send and receive Bitcoin directly with any wallet address [3][11] Treasury and Investment Strategy - Fold's Bitcoin Investment Treasury currently holds 1,492 BTC, valued at approximately $160 million as of June 30, 2025 [5][11] - The establishment of the $250 million equity purchase facility is aimed at expanding Bitcoin holdings and maintaining operational flexibility [3][7]

Core Insights - Fold Holdings, Inc. has partnered with Blackhawk Network, Inc. to enhance the distribution of the Fold Bitcoin Gift Card, aiming to increase consumer access to bitcoin through major U.S. digital retailers [1][3] - The Fold Bitcoin Gift Card allows consumers to gift bitcoin in a familiar format, facilitating easier access for those without technical knowledge or a crypto wallet [4][6] - The initiative is positioned to tap into the $300 billion U.S. gift card market, addressing a long-standing challenge in integrating bitcoin into everyday commerce [4][5] Company Overview - Fold is the first publicly traded bitcoin financial services company, with a treasury of over 1,492 BTC, focusing on making bitcoin accessible for individuals and businesses [6] - The company offers various products, including the Fold App, Fold Credit Card™, Fold Bitcoin Gift Card™, and Fold Debit Card™, bridging traditional finance and the bitcoin ecosystem [6] Industry Trends - There is a growing momentum for crypto-based gifting, with 47% of executives anticipating growth in the crypto gift card category in 2025, indicating a shift in consumer preferences towards digital assets [5] - Blackhawk Network, with over 400,000 consumer touchpoints, is enhancing the retail ecosystem for cryptocurrency, providing practical ways for consumers to engage with digital currencies [3][7]

Core Viewpoint - Fold Holdings, Inc. has announced a $250 million equity purchase facility aimed primarily at acquiring additional bitcoin for its corporate treasury [1][2]. Group 1: Equity Purchase Facility - The facility allows the company to issue and sell up to $250 million in newly issued shares of common stock at its discretion, subject to certain conditions including SEC registration [2][3]. - The company is not obligated to utilize the facility and retains control over the timing and amount of any drawdown, with specific restrictions in place [2][3]. Group 2: Company Overview - Fold is the first publicly traded bitcoin financial services company, facilitating the earning, saving, and usage of bitcoin for individuals and businesses [5]. - The company currently holds over 1,490 BTC in its treasury and is focused on integrating bitcoin into everyday financial experiences through various innovative products [5]. Group 3: Placement Agent - Cohen & Company Capital Markets acted as the exclusive placement agent for the establishment of the equity purchase facility [4].

Core Insights - Fold Holdings, Inc. reported a revenue of $7.1 million for Q1 2025, marking a 44% year-over-year increase [1][5] - The company's Bitcoin treasury holdings increased by approximately 50% to 1,490 BTC, valued at over $150 million [3][5] - Significant growth in new accounts, with a 300% year-over-year increase and total active accounts reaching 600,000 [1][5] Financial Highlights - GAAP net loss for Q1 2025 was $48.9 million, with an adjusted EBITDA loss of $4.2 million [5][16] - Total transaction volume increased by 67% year-over-year, amounting to over $250 million [5][16] - The company added 17,000 new accounts in the quarter, with total verified accounts reaching 76,000 [5][16] Strategic Initiatives - The launch of the Fold Bitcoin Gift Card aims to tap into the significant U.S. gift card market, allowing consumers to acquire Bitcoin easily [3][11] - The Fold Bitcoin Rewards Credit Card has a waitlist of 75,000 applicants, expected to drive future growth [3][6] - Expansion plans for the Custody and Trading business include enhancing platform functionality and geographic reach [3][7] Market Position - Fold is positioned as the first publicly traded Bitcoin financial services company, integrating Bitcoin into everyday financial experiences [9] - The company aims to bridge traditional finance with a Bitcoin-powered future through innovative products [9]

Core Insights - Fold Holdings, Inc. has launched the Fold Bitcoin Gift Card, aiming to simplify the process of acquiring and gifting bitcoin, making it as easy as purchasing a traditional gift card [1][3] - The gift card market is substantial, exceeding $300 billion, with 84% of consumers engaging in gift card transactions annually, indicating a significant opportunity for bitcoin integration [2] - The Bitcoin Gift Card is designed to make bitcoin accessible to millions of Americans through familiar retail channels, enhancing consumer adoption [3] Company Overview - Fold is the first publicly traded bitcoin financial services company, focusing on making bitcoin accessible for individuals and businesses through various innovative products [5] - The company holds over 1,485 BTC in its treasury, positioning itself at the forefront of integrating bitcoin into everyday financial experiences [5] Partnership and Distribution - The Bitcoin Gift Card was developed in collaboration with Totus, which provides access to over 150,000 distribution points across the nation, facilitating broad retail availability [4]