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Delisting risk

FLD · NASDAQ · Financial - Capital Markets

Fold

Connects everyday spending, bill payments, and purchases with bitcoin rewards.

$0.5352

After-hours close+0.01 (+1.42%)

At close$0.5277(−13.61%)

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Profile

Fold Holdings IncFLDFinancials

Links everyday spending to bitcoin rewards through a prepaid debit card, bill payments, merchant offers, bitcoin purchases, and gift cards. The platform is designed for consumers to accumulate, save, and use bitcoin rather than function as an exchange alone.

Links everyday spending to bitcoin rewards through a prepaid debit card, bill payments, merchant offers, bitcoin purchases, and gift cards. Consumers can accumulate, save, and use bitcoin through the platform; Fold, Inc. operates the financial-services platform under the Nasdaq-listed parent.

The active product set combines prepaid-card rewards, bitcoin buying, bill-payment rewards, and bitcoin gift cards. It relies on third-party partners for bitcoin exchange and custody, while the checking account described in the 2025 filing was FDIC-insured.

Public-market access came through a 2025 combination with FTAC Emerald, a SPAC. The parent trades as FLD, while the operating business continues under Fold, Inc.

Company facts

CEOWill Reeves

ListedFeb 19, 2025

ExchangeNASDAQ

HeadquartersPhoenix, AZ

CountryUnited States

Employees28

CIK0001889123

ISINUS29103K1007

Key statistics

Market cap$26.8M

EPS (ttm)−$1.47

P/E (ttm)−0.3590

ROE-129.5%

P/B0.8751

P/S0.9499

Dividend yield—

Beta1.87vs XLF 0.47

Year to date −80.9% · Average volume (30d) 363.3K

Analysts

Price target, next 12 months$2.60+390.6%Median of 2 analysts · vs the Aug 28 close

ConsensusBuy2 of 2 analysts rate it buy or better

Ratings

Strong buyBuyHoldSellStrong sell

Target range

Last close $0.5300

High$3.50+560.4%

Median$2.60+390.6%

Low$1.70+220.8%

12 months agoNowIn 12 months

Latest analyst notes

Date	Firm	Action	Rating	Target
May 13, 2026	Cantor Fitzgerald	Reiterate	Overweight	$1.70
May 13, 2026	Northland Securities	Target		$3.50

Earnings

EPS

Estimate−$0.10

ReportedDue Nov 9, 2026

Revenue

Estimate$7.6M

ReportedDue Nov 9, 2026

History

Report date	EPS est	EPS	Surprise	Revenue est	Revenue	Surprise	Next session
Aug 11, 2026Q2 FY26	−$0.15	−$0.19	−26.7%	$7.7M	$6.1M	−20.6%	+3.09%
May 12, 2026Q1 FY26	−$0.16	−$0.20	−25.0%	$10.0M	$5.6M	−44.0%	−4.73%
Mar 17, 2026Q4 FY25	−$0.14	−$0.86	−514.3%	$10.1M	$9.1M	−10.0%	−4.46%
Nov 10, 2025Q3 FY25	−$0.12	−$0.15	−25.0%	$10.1M	$7.4M	−26.9%	+5.10%

View details

Financial highlights

	Q1 FY25	Q2 FY25	Q3 FY25	Q4 FY25	Q1 FY26	Q2 FY26
Revenue	$7.1M	$8.2M	$7.4M	$9.1M	$5.6M	$6.1M
Gross profit	−$6.2M	−$3.3M	−$3.1M	$26.7M	$1.6M	$2.3M
Operating income	−$9.5M	−$6.3M	−$5.9M	−$6.0M	−$7.8M	−$7.8M
Net income	−$48.9M	$13.4M	$554.2K	−$34.7M	−$29.2M	−$9.7M
Diluted EPS	−$1.92	$0.28	$0.01	−$0.70	−$0.59	−$0.19
Gross margin	-87.1%	-40.7%	-41.8%	292.4%	27.9%	37.8%
Operating margin	-134.0%	-77.4%	-80.3%	-65.3%	-140.0%	-127.6%

Fiscal years (4-quarter sums)FY22 $0 · FY23 $10.7M · FY24 −$103.9K · FY25 $31.8M

Revenue by product · Q2 FY26

Other Revenues$27.7K · 100%

Balance sheet, Jun 30, 2026Cash & short-term investments $28.4M · Total debt $12.4M · Total assets $52.5M · Shareholders' equity $31.3M

Dividends

No dividends on record.

Ownership

Institutions —Insiders 27.72%

Shares outstanding 50.78M · Float 12.38M · 24.4% free float

Top shareholders13F · 13D/G · Form 4

Holder	Shares	% outstanding	Form	Filed
Fulgur Frontier Capital LP	18.10M	37.50%	13D	Mar 17, 2026
Ten 31 LLC	5.56M	11.50%	13D	Mar 3, 2026
Ten31 LLC · director, 10 percent owner:	5.56M	10.95%	Form 4	Mar 30, 2026
William Brian Poppic Reeves · 10 percent owner, officer: Chief Executive Officer	5.43M	10.70%	Form 4	Aug 26, 2026
SZOP Opportunities I LLC	5.36M	9.90%	13G	Feb 17, 2026

Insider tradesForm 4

Date	Insider	Role	Shares	Avg price
Aug 25, 2026	William Brian Poppic Reeves	10 percent owner, officer: Chief Executive Officer	−9,427	$0.4960
Aug 24, 2026	William Brian Poppic Reeves	10 percent owner, officer: Chief Executive Officer	−8,905	$0.4780
Aug 21, 2026	William Brian Poppic Reeves	10 percent owner, officer: Chief Executive Officer	−10,045	$0.4880
Aug 20, 2026	William Brian Poppic Reeves	10 percent owner, officer: Chief Executive Officer	−8,911	$0.4760
Aug 18, 2026	Wolfe Repass	officer: Chief Financial Officer	−2,877	$0.4510