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Stonegate Capital Partners Initiates Coverage on Fold Holdings Inc. (FLD)

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Fold Holdings (NASDAQ: FLD) reported quarter results and received coverage initiation from Stonegate Capital Partners on November 13, 2025. Key metrics: revenue $7.4M (up 41% y/y), net income $0.6M, and adjusted EBITDA $(4.2)M. The company reported strong product and user momentum with ~265M in total transaction volume for the quarter, 10K+ net new accounts, 3K+ new verified accounts, and a 75,000+ waitlist for the Visa/Stripe credit card.

Liquidity and distribution updates include a $45M revolving credit facility, an existing $250M equity facility, and a 1,526 BTC treasury. Product rollouts include a Bitcoin Gift Card in ~2,000 Kroger locations and a Steak 'n Shake promotion.

Fold Holdings (NASDAQ: FLD) ha riportato i risultati trimestrali e ha ricevuto l'inizio della copertura da Stonegate Capital Partners il 13 novembre 2025. Metriche chiave: ricavi $7,4 milioni (in aumento 41% anno su anno), utile netto $0,6 milioni e EBITDA rettificato $(4,2) milioni. L'azienda ha registrato una forte spinta di prodotto e utenti con circa 265 milioni di volume totale delle transazioni nel trimestre, oltre 10.000 nuovi conti, oltre 3.000 nuovi conti verificati e una lista d'attesa di oltre 75.000 persone per la carta di credito Visa/Stripe.

Aggiornamenti su liquidità e distribuzione includono una linea di credito revolving di $45M, una facilities azionaria esistente di $250M e una tesoreria di 1.526 BTC. Le novità sui prodotti includono una Bitcoin Gift Card in circa 2.000 punti Kroger e una promozione Steak 'n Shake.

Fold Holdings (NASDAQ: FLD) informó los resultados del trimestre y recibió cobertura inicial de Stonegate Capital Partners el 13 de noviembre de 2025. Métricas clave: ingresos $7.4 millones (con crecimiento del 41% interanual), beneficio neto $0.6 millones y EBITDA ajustado $(4.2) millones. La compañía mostró un fuerte impulso de productos y usuarios con ~265 millones en el volumen total de transacciones del trimestre, más de 10.000 nuevas cuentas netas, más de 3.000 nuevas cuentas verificadas y una lista de espera de más de 75.000 para la tarjeta de crédito Visa/Stripe.

Las actualizaciones de liquidez y distribución incluyen una línea de crédito revolver de $45M, una facility de $250M de capital y una tesorería de 1,526 BTC. Los lanzamientos de productos incluyen una Bitcoin Gift Card en ~2,000 locales de Kroger y una promoción de Steak 'n Shake.

Fold Holdings (NASDAQ: FLD)는 분기 실적을 발표했고 2025년 11월 13일에 Stonegate Capital Partners의 보도 개시를 받았습니다. 주요 지표: 매출 $7.4백만 (전년 동기 대비 41% 증가), 순이익 $0.6백만, 그리고 조정된 EBITDA $(4.2)백만입니다. 이 회사는 분기 동안 약 265M의 총 거래량, 10K+의 순 신규 계좌, 3K+의 신규 확인 계좌, Visa/Stripe 신용카드 대기자 명단 75,000+를 기록하며 강한 제품 및 사용자 모멘텀을 보고했습니다.

유동성 및 유통 업데이트로는 $45M의 순환 신용한도, 기존 $250M의 자본시설, 그리고 1,526 BTC의 보유를 포함합니다. 제품 롤아웃으로는 약 2,000곳 Kroger 매장에서 Bitcoin Gift Card가 도입되며 Steak 'n Shake 프로모션이 있습니다.

Fold Holdings (NASDAQ: FLD) a publié les résultats trimestriels et a reçu une couverture initiale de Stonegate Capital Partners le 13 novembre 2025. Principales métriques : chiffre d'affaires 7,4 M$ (en hausse de 41% d'une année sur l'autre), bénéfice net 0,6 M$ et EBITDA ajusté de $(4,2) M. L'entreprise a enregistré une forte dynamique produit et utilisateur avec environ 265 M de volume total de transactions au trimestre, plus de 10 000 nouveaux comptes nets, plus de 3 000 nouveaux comptes vérifiés et une liste d'attente de plus de 75 000 pour la carte Visa/Stripe.

Les mises à jour de liquidité et de distribution incluent une ligne de crédit revolver de 45 M$, une facilité d'équité existante de 250 M$, et une trésorerie de 1 526 BTC. Les lancements de produits comprennent une carte-cadeau Bitcoin dans environ 2 000 magasins Kroger et une promotion Steak 'n Shake.

Fold Holdings (NASDAQ: FLD) hat Quartalsergebnisse veröffentlicht und am 13. November 2025 eine Erstbewertung durch Stonegate Capital Partners erhalten. Wichtige Kennzahlen: Umsatz 7,4 Mio. $ (um 41% YoY), Nettogewinn 0,6 Mio. $ und bereinigtes EBITDA $(4,2) Mio.. Das Unternehmen meldete eine starke Produkt- und Benutzer-Dynamik mit ca. 265 Mio. Transaktionsvolumen im Quartal, über 10.000 netto neu eröffnete Konten, über 3.000 neue verifizierte Konten und einer Warteliste von 75.000+ für die Visa/Stripe-Kreditkarte.

Liquiditäts- und Vertriebs-Updates umfassen eine revolvierende Kreditfazilität von 45 Mio. $, eine bestehende Eigenkapitalfazilität von 250 Mio. $ und eine Treasury von 1.526 BTC. Produkt-Rollouts umfassen eine Bitcoin-Geschenkkarte in ca. 2.000 Kroger-Filialen und eine Steak 'n Shake Promotion.

Fold Holdings (NASDAQ: FLD) أبلغت عن نتائج الربع وتلقت بدء تغطية من Stonegate Capital Partners في 13 نوفمبر 2025. المقاييس الرئيسية: الإيرادات 7.4 مليون دولار (ارتفاع 41% سنوياًصافي الربح 0.6 مليون دولار، و< b>EBITDA معدّل $(4.2) مليون. أظهرت الشركة زخماً قوياً في المنتجات والمستخدمين مع حوالي 265 مليون إجمالي حجم المعاملات للربع، أكثر من 10,000 حساب جديد صافٍ، وأكثر من 3,000 حساب جديد مُؤكد وقائمة انتظار لأكثر من 75,000 لبطاقة Visa/Stripe الائتمانية.

تحديثات السيولة والتوزيع تتضمن تسهيلات ائتمانية دوارة بقيمة $45M، وتسهيل حقوق ملكية قائم بقيمة $250M، واحتياطي من 1,526 BTC. تشمل إصدارات المنتج بطاقة هدايا Bitcoin في نحو 2,000 موقع كروجر وبرنامج ترويجي Steak 'n Shake.

Positive
  • Revenue $7.4M up 41% y/y
  • Transaction volume $265M for the quarter
  • 75,000+ waitlist for Visa/Stripe credit card
  • $45M new revolving credit facility and $250M equity facility
  • 1,526 BTC held in treasury
Negative
  • Adjusted EBITDA $(4.2)M loss
  • Headcount roughly doubled y/y, raising potential cost pressure

Dallas, Texas--(Newsfile Corp. - November 13, 2025) - Fold Holdings Inc. (NASDAQ: FLD): Stonegate Capital Partners initiates their coverage on Fold Holdings Inc. (NASDAQ: FLD). Fold delivered revenue of $7.4M, net income of $0.6M, and adj EBITDA of $(4.2)M as legacy products continued to scale. Operating KPIs moved in tandem as the Company saw $265M in total transaction volume for the quarter, 10K+ net new accounts, and 3K+ new verified accounts. As of 3Q25, new accounts rose 2.1 y/y while transaction volumes climbed ~41% y/y, and management reiterated typical seasonal strength. We note that the Company maintained almost 50% top line growth over last year, and it is our expectation that this strong growth momentum will be carried into a seasonally strong 4Q. Management noted that headcount has roughly doubled y/y while maintaining margin, demonstrating early operating leverage in the model. Overall, the quarter reflected improving operating leverage with focused, disciplined spend on distribution and product.

To view the full announcement, including downloadable images, bios, and more, click here.

Key Takeaways:

  • Revenue was $7.4M up 41% y/y with net income of $0.6M and $235M in quarterly transaction volume.
  • Strengthened liquidity with a new $45M revolving credit facility alongside an existing $250M equity facility and a 1,526 BTC treasury.
  • Product momentum continued as the Visa and Stripe credit card nears launch with a 75,000+ waitlist with the Bitcoin Gift Card expanding to ~2,000 Kroger locations with a Steak 'n Shake promotion.

Cannot view this image? Visit: https://images.newsfilecorp.com/files/7294/274442_figure1.png

Click image above to view full announcement.


About Stonegate
Stonegate Capital Partners is a leading capital markets advisory firm providing investor relations, equity research, and institutional investor outreach services for public companies. Our affiliate, Stonegate Capital Markets (member FINRA) provides a full spectrum of investment banking services for public and private companies.

Contacts:

Stonegate Capital Partners
(214) 987-4121
info@stonegateinc.com

Source: Stonegate, Inc.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/274442

FAQ

What did Fold (FLD) report for revenue and net income on November 13, 2025?

Fold reported revenue $7.4M and net income $0.6M for the quarter.

How large was Fold's transaction volume in the quarter for FLD?

The company reported approximately $265M in total transaction volume for the quarter.

What liquidity facilities did Fold (FLD) announce on November 13, 2025?

Fold strengthened liquidity with a new $45M revolving credit facility alongside an existing $250M equity facility.

How many people are on the waitlist for Fold's Visa and Stripe credit card (FLD)?

Fold reported a waitlist of over 75,000 for the Visa and Stripe credit card.

What product distribution updates did Fold (FLD) report for the quarter?

Fold expanded the Bitcoin Gift Card to about 2,000 Kroger locations and ran a Steak 'n Shake promotion.

What are the key profitability and cash metrics for Fold (FLD) in 3Q25?

Key metrics: revenue $7.4M, net income $0.6M, adjusted EBITDA $(4.2)M, and a 1,526 BTC treasury.
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