Fold Holdings (FLD) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 26, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the S-1 for Q2 FY2026, filed Sep 18, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the FLD SEC filings page.
Fold Holdings, Inc. (FLD) reported $28.2M in revenue over the twelve months to Jun 30, 2026, down 2.5% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 4 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Revenue is growing, but reported losses remain outsized while the balance sheet shifts from negative to positive equity.
Revenue grew33.9% in FY2025 while FY2024 operating cash flow was an outflow of$3.3M . FY2025 operating cash flow was an outflow of$16.1M , so growth did not translate into cash generation.
Equity moved from
The current ratio fell from 1.3x to 0.9x, meaning short-term coverage tightened even as total obligations declined. Interest expense rose
Financial Health Signals
Scored against banks for FY2025. Each of the six dimensions is a percentile rank within that peer group, and the overall is the average of the dimensions that can be computed: here 4 of 6, with the others left out rather than counted as zero. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Fold Holdings, Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Fold Holdings, Inc. earned a return on assets of -45.4% in fiscal year 2025, which is the profit it made on every dollar of assets on its books. This is up from -51.8% the prior year. Earnings ranks banks on that return over three years, and Fold Holdings, Inc. scores 3/100 among other banks.
Fold Holdings, Inc. reported revenue of $31.8M in fiscal year 2025, against $23.8M in fiscal year 2024. Growth ranks banks on the three-year path of their net revenue, which is interest income and fee income less the interest they pay out, and Fold Holdings, Inc. scores 87/100 among other banks.
Fold Holdings, Inc. funded 41.0% of its assets with shareholders' equity at the end of fiscal year 2025, holding $63.0M of equity against $153.5M of assets. Capital ranks banks on that cushion, and Fold Holdings, Inc. scores 91/100 among other banks.
Not available for Fold Holdings, Inc., so it is left out of the overall score, which averages the 4 of 6 dimensions that can be computed.
Not available for Fold Holdings, Inc., so it is left out of the overall score, which averages the 4 of 6 dimensions that can be computed.
Fold Holdings, Inc. reported a net loss of $69.6M in fiscal year 2025, against a loss of $65.1M in fiscal year 2024. Stability ranks banks on how steady net income has been across five years, and Fold Holdings, Inc. scores 17/100 among other banks.
Fold Holdings, Inc. passes 3 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), the one computable operating efficiency signal (asset turnover improving) passes.
Key Financial Metrics
Earnings & Revenue
Fold Holdings, Inc. generated $6.1M in revenue in Q2 2026. This represents a decrease of 25.5% from the same quarter a year earlier. Against the prior quarter it is up 8.9%.
Fold Holdings, Inc. reported a net loss of $9.7M in Q2 2026. This represents a decrease of 171.9% from the same quarter a year earlier. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.
Fold Holdings, Inc. earned -$0.19 per diluted share (EPS) in Q2 2026. This represents a decrease of 167.9% from the same quarter a year earlier. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.
Not reported for Q2 2026.
Cash & Balance Sheet
Fold Holdings, Inc. held $28.4M in cash against $0 in long-term debt as of Q2 2026.
Not reported for Q2 2026.
Not reported for Q2 2026.
Margins & Returns
Fold Holdings, Inc.'s quarterly ROE was -30.9% in Q2 2026: one quarter's net income over shareholder equity, not annualized. This is down 46.1 percentage points from the same quarter a year earlier. Against the prior quarter it is up 49.4 percentage points.
Not reported for Q2 2026.
Not reported for Q2 2026.
Not shown for Q2 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Capital Allocation
None of these metrics is reported for Q2 2026.
FLD Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'26S-1 | Q1'2610-Q | Q4'25S-1 | Q3'2510-Q | Q2'25S-1 | Q1'2510-Q | Q4'24S-1 | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $6.1M-25.5% | $5.6M-21.1% | $9.1M+8.2% | $7.4M+41.2% | $8.2M+59.1% | $7.1M+43.7% | $8.4M | $5.2M |
| SG&A Expenses | N/A | N/A | N/A | N/A | N/A | N/A | $1.0M | $940K+37.5% |
| Operating Income | N/A | N/A | N/A | N/A | N/A | N/A | -$766K | -$801Kn/m |
| Interest Expense | $922K-53.3% | $2.3M+78.8% | $1.3M+447.9% | $1.2Mn/m | $2.0Mn/m | $1.3Mn/m | $234K | $0 |
| Income Tax | $0-100.0% | $3K-12.7% | -$3Kn/m | -$881-113.2% | $881n/m | $4K-50.9% | -$7K | $7K-99.0% |
| Net Income | -$9.7M-171.9% | -$29.2Mn/m | -$34.7M-7232.4% | $554Kn/m | $13.4Mn/m | -$48.9Mn/m | $486K | -$62.3M-5264.2% |
| EPS (Basic) | -$0.19-165.5% | -$0.59 | -$0.77 | $0.01 | $0.29 | -$1.92 | $0.08 | -$10.68 |
| EPS (Diluted) | -$0.19-167.9% | -$0.59 | -$0.77 | $0.01 | $0.28 | -$1.92 | $0.08 | -$10.68 |
| Diluted Shares (Avg) | 52M+9.0% | 50M | N/A | 47M | 48M | 25M | N/A | 6M |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, EBITDA.
FLD Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'26S-1 | Q1'2610-Q | Q4'25S-1 | Q3'2510-Q | Q2'25S-1 | Q1'2510-Q | Q4'24S-1 | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $52.5M-71.2% | $78.3M-47.3% | $153.5M+22.1% | $191.0M+266.1% | $182.1M+251.8% | $148.5M+188.3% | $125.7M-24.3% | $52.2M-68.4% |
| Current Assets | $39.0M+88.9% | $20.0M-18.2% | $18.1M-36.0% | $19.1M+11830.7% | $20.7M+8150.1% | $24.4M+6709.8% | $28.3M+9147.0% | $160K+46.6% |
| Cash & Equivalents | $28.4M+329.5% | $11.5M-59.4% | $7.7M-58.3% | $6.7M+51.9% | $6.6M+207.2% | $28.4M+2671.5% | $18.3M+1129.0% | $4.4M+17021.6% |
| Short-Term Investments | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m |
| Inventory | $847K+156.5% | $461K+14.1% | $478K+81.9% | $366K | $330K | $404K | $263K | N/A |
| Accounts Receivable | $615K-11.9% | $539K-42.8% | $728K+61.3% | $290K | $698K | $943K | $451K | N/A |
| Long-Term Investments | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m |
| Total Liabilities | $21.2M-77.3% | $42.0M-45.3% | $90.5M-53.2% | $96.3M+61.7% | $93.6M-25.6% | $76.7M+25.9% | $193.5M+10.9% | $59.6M-66.3% |
| Current Liabilities | $21.2M+64.8% | $42.0M+277.8% | $21.1M-3.6% | $13.0M+102.1% | $12.9M+129.6% | $11.1M+108.9% | $21.9M+545.1% | $6.4M+118.2% |
| Non-Current Liabilities | $0-100.0% | $0-100.0% | $69.4M-59.6% | $83.3M+56.8% | $80.7M-32.8% | $65.6M+17.9% | $171.6M+0.3% | $53.2M-69.4% |
| Long-Term Debt | $0-100.0% | $0-100.0% | $21.5Mn/m | $21.6M | $21.8M | $12.3M | $0 | N/A |
| Total Equity | $31.3M-64.7% | $36.4M-49.4% | $63.0Mn/m | $94.7Mn/m | $88.5Mn/m | $71.9Mn/m | -$67.8Mn/m | -$7.4Mn/m |
| Retained Earnings | -$209.8Mn/m | -$200.1Mn/m | -$170.9Mn/m | -$136.2Mn/m | -$136.8Mn/m | -$150.2Mn/m | -$101.3Mn/m | -$13.9Mn/m |
Not reported in any period shown, so not listed: Goodwill.
FLD Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'26S-1 | Q1'2610-Q | Q4'25S-1 | Q3'2510-Q | Q2'25S-1 | Q1'2510-Q | Q4'24S-1 | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$9.5Mn/m | -$6.6Mn/m | -$4.7M-6096.2% | -$2.5Mn/m | -$4.0Mn/m | -$5.0Mn/m | $78Kn/m | -$2.2Mn/m |
| Stock-Based Compensation | $1.7M0.0% | $1.7M-67.2% | N/A | $1.6Mn/m | $1.7Mn/m | $5.2Mn/m | N/A | $0 |
| Investing Cash Flow | $43.4Mn/m | $13.2Mn/m | -$5.2Mn/m | -$949Kn/m | -$980Kn/m | -$1.8Mn/m | -$803K-253.7% | -$585K-100.6% |
| Financing Cash Flow | -$17.1Mn/m | -$2.7M-1886.7% | $10.9M-25.7% | $3.5M-30.4% | -$113K-104.5% | $153K-69.5% | $14.7M+2693.9% | $5.0Mn/m |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | $1.2Mn/m | $0 |
Not reported in any period shown, so not listed: Depreciation & Amortization, Capital Expenditures, Free Cash Flow, Dividends Paid.
FLD Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'26S-1 | Q1'2610-Q | Q4'25S-1 | Q3'2510-Q | Q2'25S-1 | Q1'2510-Q | Q4'24S-1 | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Margin | N/A | N/A | N/A | N/A | N/A | N/A | -9.1% | -15.3% |
| Net Margin | -158.5% | -521.6% | -379.9% | 7.5% | 164.2% | -689.6% | 5.8% | -1188.7% |
| Return on Equity | -30.9%-46.1pp | -80.2%-12.2pp | -55.1% | 0.6% | 15.2% | -68.0% | N/A | N/A |
| Return on Assets | -18.4%-25.8pp | -37.2%-4.3pp | -22.6%-23.0pp | 0.3%+119.8pp | 7.4%+11.8pp | -32.9%-31.1pp | 0.4% | -119.5%-120.2pp |
| Current Ratio | 1.84+0.2x | 0.48-1.7x | 0.86-0.4x | 1.47+1.4x | 1.60+1.6x | 2.20+2.1x | 1.29+1.2x | 0.030.0x |
| Debt-to-Equity | 0.00-0.2x | 0.00-0.2x | 0.34 | 0.23 | 0.25 | 0.17 | N/A | N/A |
| Liabilities-to-Equity | 0.68-0.4x | 1.15+0.1x | 1.44 | 1.02 | 1.06 | 1.07 | N/A | N/A |
| Asset Turnover | 0.12+0.1x | 0.070.0x | 0.060.0x | 0.04-0.1x | 0.04-0.1x | 0.050.0x | 0.07 | 0.10 |
Not reported in any period shown, so not listed: Gross Margin, FCF Margin.
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Net Margin.
Note: The current ratio is below 1.0 (0.86), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Fold Holdings, Inc. FLD | FY2025 | $31.8M | -$69.6M | N/A | $28.2M | 50/100 |
| Metalpha Technology Holding Limited MATH | FY2026 | $37.1M | $1.3M | 3.5% | $47.5M | 58/100 |
| The9 Limited NCTY | FY2025 | $15.4M | -$57.5M | N/A | $50.1M | 29/100 |
| BTCS Inc. BTCS | FY2025 | $16.5M | -$33.4M | N/A | $55.6M | 55/100 |
Where Fold Holdings, Inc. Ranks
Frequently Asked Questions
What is Fold Holdings, Inc.'s annual revenue?
Fold Holdings, Inc. (FLD) reported $31.8M in total revenue for fiscal year 2025. This represents a 33.9% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Fold Holdings, Inc.'s revenue growing?
Fold Holdings, Inc. (FLD) revenue grew by 33.9% year-over-year, from $23.8M to $31.8M in fiscal year 2025.
Is Fold Holdings, Inc. profitable?
No, Fold Holdings, Inc. (FLD) reported a net loss of $73.0M over the trailing 12 months to June 30, 2026. In fiscal year 2025 it reported a net loss of $69.6M.
How much debt does Fold Holdings, Inc. have?
As of fiscal year 2025, Fold Holdings, Inc. (FLD) had $7.7M in cash and equivalents against $21.5M in long-term debt.
What is Fold Holdings, Inc.'s return on equity (ROE)?
Fold Holdings, Inc. (FLD) has a return on equity of -110.5% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Fold Holdings, Inc.'s operating cash flow?
Fold Holdings, Inc. (FLD) recorded an outflow of $16.1M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Fold Holdings, Inc.'s total assets?
Fold Holdings, Inc. (FLD) had $153.5M in total assets as of fiscal year 2025, including both current and long-term assets.
What is Fold Holdings, Inc.'s current ratio?
Fold Holdings, Inc. (FLD) had a current ratio of 0.86 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is Fold Holdings, Inc.'s debt-to-equity ratio?
Fold Holdings, Inc. (FLD) had a debt-to-equity ratio of 0.34 as of fiscal year 2025. We compute it as long-term debt divided by total shareholder equity, where long-term debt is the noncurrent part of the company's borrowings, so debt due within the next twelve months is not counted.
What is Fold Holdings, Inc.'s liabilities-to-equity ratio?
Fold Holdings, Inc. (FLD) had a liabilities-to-equity ratio of 1.44 as of fiscal year 2025, which is total liabilities divided by total shareholder equity. Total liabilities counts every obligation on the balance sheet (payables, deposits, insurance reserves and deferred taxes as well as borrowings), so this ratio usually runs well above debt-to-equity.
What is Fold Holdings, Inc.'s return on assets (ROA)?
Fold Holdings, Inc. (FLD) had a return on assets of -45.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Fold Holdings, Inc.'s P/E ratio?
Fold Holdings, Inc. (FLD) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (trailing 12 months to June 30, 2026). The market capitalization is $28.2M as of Oct 26, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Fold Holdings, Inc.'s price-to-sales ratio?
Fold Holdings, Inc. (FLD) trades at 1.0x sales, its market capitalization divided by $28.2M revenue, trailing 12 months to June 30, 2026. The market capitalization is $28.2M as of Oct 26, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Fold Holdings, Inc.'s Piotroski F-Score?
Fold Holdings, Inc. (FLD) has a Piotroski F-Score of 3 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
How financially healthy is Fold Holdings, Inc.?
Fold Holdings, Inc. (FLD) scores 50 out of 100 on our Financial Health Score, indicating moderate standing within its banks peer group. The score is the average of six dimensions (Earnings, Growth, Capital, Efficiency, Credit Quality, Stability), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. For Fold Holdings, Inc. it averages the 4 of 6 dimensions that can be computed; the others are left out rather than counted as zero. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.