Fold Holdings, Inc. (FLD) Earnings History

Fold Holdings, Inc. - Q3 FY2025 Earnings

Filed at: Nov 10, 2025, 4:05 PM EST|Read from source

EXECUTIVE SUMMARY

Fold Holdings reported strong Q3 2025 results with significant year-over-year revenue growth driven by increased transaction volumes and strategic partnerships. The company is expanding its product suite and retail presence, positioning itself for future adoption.

POSITIVE HIGHLIGHTS

  • •

    Revenue increased 41% year-over-year to $7.4 million.

    positive
  • •

    Total Transaction Volume grew 43% year-over-year to $235 million.

    positive
  • •

    Formalized partnership with Visa and Stripe for the upcoming Fold Bitcoin Rewards Credit Card.

    positive
  • •

    Secured a $45 million revolving credit facility to increase financial liquidity.

    positive
  • •

    Fold Bitcoin Gift Card gained traction with availability at Kroger and a new nationwide partnership with Steak 'n Shake.

    positive

CONCERNS & RISKS

  • •

    Adjusted EBITDA loss of $4.2 million for the quarter.

    negative
  • •

    Operating loss of $5.9 million for the quarter.

    negative
  • •

    Net loss of $34.9 million for the nine months ended September 30, 2025.

    negative
  • •

    Cash and cash equivalents decreased significantly from $18.3 million at the beginning of the period to $6.7 million at the end.

    attention

FINANCIAL METRICS

Revenue
Quarterly
$7.40M
+41.1%
Prior year: $5.24M
Annual (YTD)
$22.66M
N/A
Prior year: $15.31M
Net Income
Quarterly
$554.24K
N/A
Prior year: $-62.31M
Annual (YTD)
$-34.90M
N/A
Prior year: $-65.58M
EPS (Diluted)
Quarterly
$0.01
N/A
Prior year: $-10.68
Annual (YTD)
$-0.88
N/A
Prior year: $-11.23
Operating Income
Quarterly
$-5.94M
N/A
Prior year: $-4.17M
Annual (YTD)
$-21.77M
N/A
Prior year: $-6.21M
EPS (Basic)
Quarterly
$0.01
N/A
Prior year: $-10.68
Annual (YTD)
$-0.88
N/A
Prior year: $-11.23

MARGIN ANALYSIS

Net Margin
Current Quarter
7.5%
Prior Year
-1188.7%
YoY Change
N/A

Margin expansion indicates improving profitability and operational efficiency. Measured in basis points (bps): 100 bps = 1.0%.

SPECIAL ITEMS & ADJUSTMENTS

Q3 2025
Gain (loss) on customer rewards liability
This item is a gain for the current quarter, but was a loss in the prior year period.
+$0.507M
Q3 2025
(Gain) loss on digital assets - rewards treasury
This item is a gain for the current quarter, but was a loss in the prior year period.
$0.638M
Q3 2025
(Gain) loss on digital assets - investment treasury
Significant gain in the current quarter compared to a smaller gain in the prior year.
+$10.239M
Q3 2025
Change in fair value of convertible note
This is a new item compared to the prior year period.
$2.627M
Total Impact
+$7.481M

Special items are non-recurring events that may distort period-over-period comparisons. Analysts typically adjust for these when calculating normalized earnings.

MANAGEMENT COMMENTARY

Delivered a strong third quarter with consistent growth across core metrics and clear execution on priorities.

— Fold Holdings, Inc., Q3 FY2025 2025 Earnings Call

Revenue grew 41% year-over-year QTD, and 48% YTD as of September 30, 2025.

— Fold Holdings, Inc., Q3 FY2025 2025 Earnings Call

Formalized partnership with Visa and Stripe for the upcoming Fold Bitcoin Rewards Credit Card, aiming to set the standard for bitcoin rewards programs.

— Fold Holdings, Inc., Q3 FY2025 2025 Earnings Call

Commentary excerpts from earnings call transcripts provide management's perspective on performance, strategy, and outlook. Always review full transcripts for complete context.

OPERATIONAL METRICS

Bitcoin Investment Treasury Holdings
1.5K
BTC
Total Active Accounts
625.0K
accounts
Total Transaction Volume
235.0M
+43.0% YoY
dollars
Total Verified Accounts
82.0K
accounts

Operational metrics provide insight into business drivers and customer engagement beyond traditional financial measures.