Fold (NASDAQ:FLD) Announces Quarterly Earnings Results

Fold (NASDAQ:FLD) issued its quarterly earnings data on Tuesday. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.06, FiscalAI reports. Fold had a negative net margin of 304.96% and a negative return on equity of 147.70%. The company had revenue of $4.16 million during the quarter, compared to the consensus estimate of $7.73 million.

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

• Q3 results reflected weaker activity: Revenue fell 44% year over year to $4.2 million, and monthly transaction volume declined to about $53 million from $78 million a year earlier. GAAP net loss was $2.6 million, while Adjusted EBITDA loss was $4.5 million, roughly flat year over year.
• Fold is shifting toward deposits and balances with its new Lead Bank spending accounts and Fold Reserve products. Thousands of customers activated the products soon after launch, and Reserve customers held several times the balance of a typical user; management said it is still early.
• Bitcoin gift cards gained traction through digital distribution: custody and trading revenue nearly quadrupled to $1.3 million, with gift cards contributing $1.2 million. TikTok became Fold’s largest gift-card and customer-acquisition channel during the quarter.
• Credit-card growth remains constrained at about 2,500 cardholders until Fold secures a receivables financing partner. Management said a facility is key to issuing more cards and expanding credit limits, but emphasized that negotiations are ongoing and the terms matter to program economics.
• Operating expenses fell 21% year over year, and Adjusted EBITDA loss improved from the first half of 2026. Fold ended the quarter with $21.7 million in cash and replaced its prior equity line with a $25 million committed facility, which it began using in October.

Fold Trading Down 8.5%

Shares of NASDAQ FLD opened at $0.40 on Thursday. The company has a market capitalization of $22.07 million, a price-to-earnings ratio of -0.25 and a beta of 0.35. Fold has a twelve month low of $0.36 and a twelve month high of $3.35. The business has a 50 day simple moving average of $0.53 and a 200-day simple moving average of $0.90.

Analyst Upgrades and Downgrades

FLD has been the subject of a number of recent analyst reports. Cantor Fitzgerald restated an “overweight” rating on shares of Fold in a research note on Tuesday, September 8th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Fold in a research report on Friday, September 11th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $2.40.

About Fold

Fold Holdings, Inc. (NASDAQ: FLD) is a financial technology company focused on making bitcoin more accessible through everyday financial products and services. Its platform is designed to allow consumers to earn, buy, sell, hold and use bitcoin alongside traditional financial tools. The company’s offerings have included a bitcoin rewards card, a mobile application and related services that enable users to receive bitcoin rewards from eligible purchases and manage their digital assets. Fold has also provided mechanisms for customers to purchase and transact in bitcoin, with products aimed primarily at individual consumers in the United States.