Fold (NASDAQ:FLD) Posts Earnings Results, Misses Estimates By $0.04 EPS

Fold (NASDAQ:FLD) announced its quarterly earnings data on Tuesday. The company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.04), FiscalAI reports. The business had revenue of $6.09 million during the quarter, compared to analyst estimates of $7.67 million. Fold had a negative net margin of 164.63% and a negative return on equity of 90.99%.

Here are the key takeaways from Fold’s conference call:

• Negative Sentiment: Q2 revenue fell 26% year over year to $6.1 million, while net loss was $9.7 million versus net income of $13.4 million a year earlier. Adjusted EBITDA declined to negative $5.5 million amid continued weakness in Bitcoin-related activity and higher payroll and contractor costs.
• Positive Sentiment: The Fold Credit Card showed encouraging early performance, with more than 2,000 customers in early access and transactions per user increasing fourfold over several months. Management said per-swipe economics are profitable and most key metrics are meeting or exceeding expectations.
• Positive Sentiment: Fold eliminated $20 million of Bitcoin-backed secured debt, reducing monthly interest expense by approximately $145,000 and retaining $25 million of unrestricted capital. Management said the move lowers treasury volatility and improves financial flexibility.
• Neutral Sentiment: The company is shifting from a transaction-driven Bitcoin business toward a broader financial platform that earns yield on customer-held assets and targets mainstream cash-back users as well as Bitcoin customers. Management expects this to create more recurring revenue, but the strategy remains dependent on upcoming product launches and execution.
• Negative Sentiment: Credit card expansion remains constrained by Fold’s balance sheet, making additional financing partners the key gating factor for scaling beyond the waitlist and existing users. Fold currently self-finances card receivables and expects to add strategic funding partners alongside its broader summer rollout.

Fold Trading Down 0.5%

NASDAQ:FLD traded down $0.00 during mid-day trading on Wednesday, hitting $0.45. The stock had a trading volume of 173,852 shares, compared to its average volume of 1,020,530. Fold has a twelve month low of $0.36 and a twelve month high of $4.70. The stock has a 50-day simple moving average of $0.51 and a two-hundred day simple moving average of $1.10. The company has a market capitalization of $22.75 million, a PE ratio of -0.42 and a beta of 0.36.

More Fold News

Here are the key news stories impacting Fold this week:

• Positive Sentiment: Fold eliminated approximately $20 million of secured debt, strengthening its balance sheet and potentially reducing financing costs. Management also outlined plans to expand into asset-based revenue streams. Fold Holdings Second Quarter 2026 Results
• Positive Sentiment: More than 2,000 Fold credit cards are now in early access, representing growth of more than 100% from the prior quarter. This could support future fee and transaction revenue if user adoption continues. Fold Holdings Second Quarter 2026 Results
• Neutral Sentiment: Management’s second-quarter earnings call focused on the company’s operating performance, debt reduction, credit-card rollout and planned asset-based revenue initiatives. Investors will likely look for evidence that these initiatives can translate into sustained revenue growth. Fold Holdings Q2 2026 Earnings Call Transcript
• Negative Sentiment: Second-quarter revenue was $6.1 million, below the roughly $7.7 million analyst consensus. The company reported a loss of $0.19 per share, wider than the expected $0.15 loss and the $0.18 loss recorded a year earlier. Fold Holdings Reports Q2 Loss
• Negative Sentiment: Fold continues to report substantial operating losses, including a negative net margin and negative return on equity. The earnings miss reinforces concerns about profitability and execution, particularly with the stock trading well below its longer-term moving averages.

Analysts Set New Price Targets

FLD has been the subject of several research reports. Cantor Fitzgerald dropped their price target on shares of Fold from $2.00 to $1.70 and set an “overweight” rating for the company in a research note on Wednesday, May 13th. Northland Securities set a $3.50 price objective on Fold in a research note on Wednesday, May 13th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Fold in a report on Monday, June 15th. Finally, Wall Street Zen raised Fold from a “strong sell” rating to a “sell” rating in a research note on Saturday, April 18th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $2.73.

Insider Buying and Selling

In other news, Director Jonathan Kirkwood acquired 105,000 shares of the company’s stock in a transaction on Friday, June 12th. The shares were bought at an average cost of $0.61 per share, with a total value of $64,050.00. Following the transaction, the director owned 457,295 shares in the company, valued at approximately $278,949.95. This trade represents a 29.80% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last ninety days, insiders have purchased 123,500 shares of company stock worth $84,890 and have sold 91,539 shares worth $93,754. 23.08% of the stock is owned by company insiders.

Institutional Investors Weigh In On Fold

Institutional investors have recently modified their holdings of the company. Barclays PLC purchased a new position in Fold in the fourth quarter valued at $26,000. Goldman Sachs Group Inc. purchased a new stake in Fold during the 4th quarter worth about $28,000. Aptus Capital Advisors LLC acquired a new position in shares of Fold during the 3rd quarter worth about $39,000. Charles Schwab Investment Management Inc. acquired a new position in shares of Fold during the 4th quarter worth about $41,000. Finally, Squarepoint Ops LLC purchased a new position in shares of Fold in the 3rd quarter valued at about $46,000. 56.89% of the stock is owned by hedge funds and other institutional investors.

About Fold

Fold, trading under the ticker FLD on the NASDAQ, is a financial technology company specializing in bitcoin rewards and cryptocurrency-based consumer products. The company’s core offering enables users to earn bitcoin on everyday purchases through a prepaid Visa debit card, converting traditional currency transactions into bitcoin rewards at no extra cost. By partnering with major payment networks and merchant platforms, Fold aims to bridge the gap between mainstream spending and digital asset adoption.

Beyond the debit card, Fold offers a mobile application that integrates with the Bitcoin Lightning Network to facilitate faster and more cost-efficient transactions.