Fold Holdings Inc
- Open
- 0.46
- Day high
- 0.48
- Day low
- 0.45
- Prev close
- 0.45
- Volume
- 51K
- Mkt cap
- $23M
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 0.6
- P/S
- 0.8
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$36K over the last 3 months (3 open-market buys, 25 sales)
Fold Holdings Inc (FLD) is a Financial Services company listed on NASDAQ. The stock is down 89% over the past year. Over the trailing 3 months, insiders filed 3 open-market buys and 25 sales (SEC Form 4).
Fold Holdings Inc (FLD) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 2 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
FLD earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 12, 2026 | $-0.16 | $-0.20 | -25.0% | $6M | -44.0% |
| Mar 17, 2026 | $-0.14 | $-0.86 | -525.5% | $9M | -16.6% |
| Aug 12, 2025 | $-0.10 | $-0.18 | -80.0% | $8M | -30.9% |
| May 15, 2025 | $-0.10 | $-0.42 | -320.0% | $7M | -15.6% |
| Mar 29, 2025 | — | $1.65 | — | $-15M | — |
| Aug 9, 2024 | — | $-0.05 | — | — | — |
| Jun 29, 2024 | — | $-0.02 | — | — | — |
| Dec 30, 2023 | — | $0.01 | — | — | — |
FLD insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 15, 2026 | Kirkwood Jonathandirector, 10 percent owner: | Buy | 105,000 | $0.61 |
| Jun 3, 2026 | Repass Wolfeofficer: Chief Financial Officer | Option | 17 | — |
| Jun 3, 2026 | Repass Wolfeofficer: Chief Financial Officer | Option | 1,540 | — |
| Jun 3, 2026 | Repass Wolfeofficer: Chief Financial Officer | Sell | 480 | $0.91 |
| Jun 3, 2026 | Repass Wolfeofficer: Chief Financial Officer | Sell | 824 | $0.91 |
| Jun 3, 2026 | Repass Wolfeofficer: Chief Financial Officer | Sell | 6 | $0.91 |
| Jun 3, 2026 | Repass Wolfeofficer: Chief Financial Officer | Option | 2,639 | — |
| Jun 3, 2026 | Reeves William Brian Poppic10 percent owner, officer: Chief Executive Officer | Sell | 481 | $0.91 |
| Jun 3, 2026 | Reeves William Brian Poppic10 percent owner, officer: Chief Executive Officer | Sell | 5,158 | $0.91 |
| Jun 3, 2026 | Reeves William Brian Poppic10 percent owner, officer: Chief Executive Officer | Option | 11,548 | — |
| Jun 3, 2026 | Reeves William Brian Poppic10 percent owner, officer: Chief Executive Officer | Option | 1,075 | — |
| Jun 3, 2026 | Dickman Thomas Jofficer: Chief Technology Officer | Option | 17 | — |
| Jun 3, 2026 | Dickman Thomas Jofficer: Chief Technology Officer | Sell | 6 | $0.91 |
| Jun 2, 2026 | Hill Kirstindirector | Grant | 95,484 | — |
| Jun 2, 2026 | Young Bracebridge H Jrdirector | Grant | 95,484 | — |
Source: FLD SEC Form 4 filings, latest Jun 15, 2026. For informational purposes only — not investment advice.
See the full FLD insider & 13F page →Fold Holdings Inc company profile
Overview
Fold Holdings Inc (NASDAQ:FLD) is a financial services company that went public in February 2022, operating as a holding company focused on Bitcoin-related financial services. Founded to bridge traditional consumer spending with cryptocurrency accumulation, the company provides a platform that enables customers to earn, accumulate, and utilize Bitcoin through everyday transactions. Since its IPO, Fold has been working to establish itself in the emerging intersection of traditional financial services and cryptocurrency adoption.
Business
Fold Holdings operates in the cryptocurrency financial services sector, specifically focusing on making Bitcoin accessible and useful for everyday consumers. The company's core offering is a financial services platform that integrates Bitcoin rewards and accumulation into regular consumer spending activities. The platform functions as a bridge between traditional consumer finance and cryptocurrency adoption. When customers use Fold's services for everyday purchases, they can earn Bitcoin rewards rather than traditional cashback or points. This model is designed to help consumers gradually accumulate Bitcoin through their normal spending patterns without requiring active cryptocurrency trading or investment decisions. The company operates primarily through its subsidiary platforms that facilitate Bitcoin earning and spending. The business model centers around creating practical utility for Bitcoin in daily financial activities, moving beyond Bitcoin as merely a speculative investment toward its use as a functional currency for consumer transactions. This approach targets the growing market of consumers interested in cryptocurrency exposure but seeking simpler, more automated ways to participate in the Bitcoin ecosystem.
Revenue model
Fold generates revenue through its Bitcoin-focused financial services platform, though the company's revenue model appears to be evolving and inconsistent based on recent financial performance. The company likely earns money through transaction fees, interchange revenue from payment processing, and potentially spreads on Bitcoin transactions when customers earn or spend cryptocurrency. The primary customers are consumers who want to integrate Bitcoin into their everyday spending and earning activities. Rather than targeting sophisticated cryptocurrency traders, Fold focuses on mainstream consumers seeking passive Bitcoin accumulation through normal purchasing behavior. Several factors significantly impact the company's financial performance and margins. Bitcoin price volatility creates both opportunities and risks, as higher Bitcoin prices may increase customer engagement but also affect the economics of Bitcoin rewards programs. Regulatory changes in cryptocurrency oversight could substantially impact operations, while competition from both traditional financial services companies entering crypto and pure-play cryptocurrency platforms poses ongoing margin pressure. The company's ability to scale transaction volume while managing the costs of Bitcoin rewards programs will be critical to achieving sustainable profitability. Additionally, partnerships with merchants and payment processors affect both revenue opportunities and operational costs.
Competitive moat
Fold's competitive moat appears relatively narrow in the current market environment. The company operates in an increasingly crowded space where traditional financial institutions, credit card companies, and other fintech platforms are launching similar Bitcoin rewards and cryptocurrency integration services. Major players like PayPal, Square, and traditional credit card companies have significantly more resources and established customer relationships. The company's primary competitive advantage lies in its early focus and specialization in Bitcoin-specific consumer financial services, potentially creating deeper expertise in this niche area. However, this specialization also creates vulnerability, as the company is heavily dependent on Bitcoin adoption and regulatory acceptance. The platform's user experience and specific features for Bitcoin integration could provide some differentiation, but these advantages are not particularly defensible against well-funded competitors. The cryptocurrency financial services market is still emerging, which creates both opportunities and risks. While there may be room for specialized players like Fold, the company faces the challenge of competing against much larger, better-capitalized firms that can offer similar services as part of broader financial platforms. The lack of significant network effects or switching costs in the current business model suggests that Fold's competitive position remains vulnerable to disruption from larger players with superior resources and distribution capabilities.
Risks & safety
The margin of safety for Fold Holdings appears quite limited based on current financial metrics and operational performance. • **Liquidity concerns**: Current ratio of 0.10 indicates severe short-term liquidity challenges, with current liabilities significantly exceeding current assets • **Cash position**: Only $906,043 in cash and short-term investments as of Q4 2024, while facing $9.3 million in current liabilities • **Operating cash flow**: Negative $3.4 million in operating cash flow for 2024, indicating ongoing cash burn • **Debt levels**: Complex capital structure with negative equity position and debt-to-equity ratio of -0.69 • **Revenue volatility**: Inconsistent revenue generation, with negative revenue reported in Q4 2024 and zero revenue in multiple quarters • **Valuation metrics**: Trading at low P/E ratio of 1.68, but this may reflect financial distress rather than value opportunity • **Other considerations**: Recent IPO company still establishing business model, highly dependent on cryptocurrency market conditions, and facing significant working capital challenges The combination of poor liquidity metrics, inconsistent revenue generation, and negative operating cash flow suggests substantial financial risk.
Recent development
Based on available financial data, Fold Holdings has undergone significant operational challenges and strategic adjustments since its 2022 IPO. The company has experienced highly volatile financial performance, with revenue swinging from $17.6 million in 2023 to negative revenue in Q4 2024, suggesting potential business model pivots or operational restructuring. The company appears to have faced substantial operational difficulties, evidenced by consistently negative operating cash flows and deteriorating liquidity positions. The dramatic changes in financial metrics across quarters indicate ongoing strategic adjustments, possibly including changes to the Bitcoin rewards program structure, partnerships, or core service offerings. Recent periods show the company struggling with working capital management and cash flow generation, suggesting management has been focused on operational efficiency and potentially seeking additional funding or strategic partnerships. The inconsistent revenue recognition patterns may indicate changes in how the company structures its Bitcoin-related services or modifications to its platform's economics in response to market conditions or regulatory requirements.
FLD company profile · for informational purposes only — not investment advice.
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