Fold Holdings, Inc.
Business
Fold Holdings is a bitcoin-focused financial services company that provides a suite of consumer financial products designed to integrate bitcoin into everyday financial activities. The company offers an FDIC-insured checking account, Visa prepaid debit card, bitcoin rewards credit card, bitcoin gift card, merchant rewards program, and bitcoin custody and trading services through its mobile application. Fold's products span banking, payments, rewards, and custody services, distributed primarily through its direct-to-consumer platform and expanding partnerships with retailers and employers in the United States.
Summary from 10-K filed 2026-03-17
Financials
Consolidated Statement of Income
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 |
|---|---|---|---|---|---|
| Revenues, net | 32 | 24 | — | — | |
| Banking and payment costs | 29 | 22 | — | — | |
| Custody and trading costs | 1 | 228,080 | — | — | |
| Compensation and benefits | 18 | 3 | — | — | |
| Marketing expenses | 2 | 493,900 | — | — | |
| Professional fees | 5 | 2 | — | — | |
| Amortization expense | 557,982 | 292,266 | — | — | |
| (Gain) Loss on customer rewards liability | −798,493 | 5 | — | — | |
| (Gain) loss on digital assets - rewards treasury | 394,271 | −6 | — | — | |
| Other selling, general and administrative expenses | 5 | 1 | — | — | |
| Total operating expenses | 60 | 30 | — | — | |
| Operating loss | −28 | −6 | — | — | |
| Gain (loss) on digital assets - investment treasury | −9 | 29 | — | — | |
| Change in fair value of SAFEs | −7 | −88 | — | — | |
| Change in fair value of convertible note | −928,056 | 0 | — | — | |
| Convertible note issuance costs and fees | −10 | 0 | — | — | |
| Loss on extinguishment of debt | −10 | 0 | — | — | |
| Interest expense | −6 | −234,035 | — | — | |
| Other income | 394,791 | 91,848 | — | — | |
| Other expense, net | −42 | −59 | 10 | — | |
| Net loss before income taxes | −70 | −65 | 7 | 2 | |
| Income tax expense (benefit) | 1,472 | 7,400 | −2 | −726,410 | |
| Net loss | −70 | −65 | 4 | 1 | |
| Basic (per share) | −1.65 | −11.15 | — | — | |
| Diluted (per share) | −1.65 | −11.15 | — | — | |
| Basic (shares) | 42 | 6 | — | — | |
| Diluted (shares) | 42 | 6 | — | — |
Consolidated Balance Sheet
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2023 2023-10-31 | FY 2022 2022-12-31 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 8 | 18 | — | — | 72,753 | |
| Accounts receivable, net | 728,001 | 451,455 | — | — | — | |
| Inventories | 478,045 | 262,813 | — | — | — | |
| Digital assets - rewards treasury | 7 | 9 | — | — | — | |
| Prepaid expenses and other current assets | 2 | 687,100 | — | — | 185,213 | |
| Total current assets | 18 | 28 | 306,059 | — | 257,966 | |
| Digital assets - investment treasury | 134 | 94 | — | — | — | |
| Capitalized software development costs, net | 1 | 1 | — | — | — | |
| Deferred transaction costs | 0 | 3 | — | — | — | |
| Other non-current assets | 299,309 | 0 | — | — | — | |
| Total assets | 153 | 126 | 166 | — | 256 | |
| Accounts payable | 704,789 | 1 | — | — | — | |
| Accrued expenses and other current liabilities | 3 | 71,858 | — | — | — | |
| December 2024 convertible note, net | 0 | 12 | — | — | — | |
| Credit facility | 10 | 0 | — | — | — | |
| Customer rewards liability | 7 | 9 | — | — | — | |
| Deferred revenue | 366,252 | 387,776 | — | — | — | |
| Total current liabilities | 21 | 22 | 3 | — | 492,008 | |
| Deferred revenue, long-term | 0 | 487,690 | 1 | 1 | 1 | |
| June 2025 convertible note, net | 21 | 0 | — | — | — | |
| March 2025 convertible note - related party | 47 | 0 | — | — | — | |
| "Simple Agreements for Future Equity (""SAFEs"")" | 0 | 171 | — | — | — | |
| Other non-current liabilities | 689,680 | 0 | — | — | — | |
| Total liabilities | 90 | 193 | 5 | — | 10 | |
| Commitments and contingencies (Note 13) | — | — | — | — | — | |
| Preferred stock, $0.0001 par value; 20,000,000 shares authorized, 0 shares issued and outstanding at December 31, 2025 and 10,204,880 shares issued and outstanding at December 31, 2024 | 0 | 1,020 | — | — | — | |
| Common stock, $0.0001 par value; 600,000,000 shares authorized, 48,477,883 shares issued and 48,419,266 shares outstanding at December 31, 2025 and 5,836,882 shares issued and outstanding at December 31, 2024 | 4,849 | 584 | — | — | 98 | |
| Additional paid-in-capital | 234 | 34 | 7 | — | — | |
| Accumulated deficit | −171 | −101 | −11 | — | −9 | |
| Total stockholders' equity (deficit) | 63 | −68 | −8 | — | −9 | |
| Total liabilities and stockholders' equity | 153 | 126 | 166 | — | 256 |
Consolidated Statement of Cash Flows
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 |
|---|---|---|---|---|---|
| Amortization expense | 557,982 | 292,266 | — | — | |
| Amortization of debt issuance costs | 236,305 | 0 | — | — | |
| Amortization of debt discount and premium | 480,357 | 187,368 | — | — | |
| Share-based compensation expense | 10 | 0 | — | — | |
| Accounts receivable, net | −276,546 | 173,448 | — | — | |
| Inventories | −215,232 | −133,619 | — | — | |
| Prepaid expenses and other current assets | 656,823 | −176,949 | — | — | |
| Accounts payable | −408,763 | 753,335 | — | — | |
| Accrued expenses and other current liabilities | 4 | 137,482 | — | — | |
| Customer reward liability | 2 | 2 | — | — | |
| Deferred revenue | −509,214 | −136,544 | — | — | |
| Other non-current liabilities | 689,680 | 0 | — | — | |
| Net cash used in operating activities | −16 | −3 | −5 | −2 | |
| Purchases of digital assets | −8 | −2 | — | — | |
| Proceeds from sales of digital assets | 0 | 104,868 | — | — | |
| Payments for capitalized software development costs | −951,669 | −738,565 | — | — | |
| Net cash used in investing activities | −9 | −3 | 100 | −28 | |
| Proceeds from issuance of convertible note and warrants, net | 0 | 19 | — | — | |
| Proceeds from recapitalization | 804,600 | 0 | — | — | |
| Payments of deferred IPO costs | −652,013 | 0 | — | — | |
| Proceeds received from SAFE financings | 0 | 8 | — | — | |
| Payment of debt issuance costs | −113,320 | −3 | — | — | |
| Proceeds from issuance of common stock | 4 | −2 | — | — | |
| Proceeds from credit facility | 10 | 0 | — | — | |
| Net cash provided by financing activities | 14 | 23 | −95 | 29 | |
| Net (decrease) increase in cash and cash equivalents | −11 | 17 | — | — | |
| Proceeds from SAFE financings received in digital assets | 0 | 64 | — | — | |
| Deferred IPO costs included in accounts payable | 0 | 174,794 | — | — | |
| Non-cash payment of interest with common stock | 2 | 0 | — | — | |
| Distributions of digital assets to fulfill customer reward redemptions | 3 | 4 | — | — | |
| Distributions of digital assets to satisfy other current obligations | 671,621 | 91,566 | — | — | |
| Recapitalization | 173 | 0 | — | — | |
| Proceeds from convertible debt received in digital assets - related party | 44 | 0 | — | — | |
| Change in fair value of Series C Warrants included in loss on extinguishment | 498,771 | 0 | — | — | |
| Non-cash issuance of placement shares | 353,250 | — | — | — | |
| Non-cash amortization of deferred issuance costs | 53,941 | — | — | — | |
| Distributions of digital assets for prepaid interest - related party | 2 | 0 | — | — | |
| Cash paid during the period for interest expense related to the credit facility | 51,181 | — | — | — | |
| Cash paid during the period for income taxes | 6,139 | 3,110 | — | — |
Filings
Material Events
Insiders
Institutional Holders
Frequently asked questions
What is Fold Holdings, Inc.'s CIK number?
Fold Holdings, Inc.'s SEC CIK number is 0001889123 (1889123). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find Fold Holdings, Inc.'s SEC filings?
All of Fold Holdings, Inc.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did Fold Holdings, Inc. last report earnings?
Fold Holdings, Inc. (FLDDW) most recently filed an earnings 8-K with the SEC on May 12, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001193125-26-219369). This is Fold Holdings, Inc.'s most recent earnings filing of record — not a forecast of its next earnings date.
What is Fold Holdings, Inc.'s most recent earnings 8-K?
Fold Holdings, Inc.'s latest earnings 8-K (Item 2.02) was filed May 12, 2026 under accession 0001193125-26-219369. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View Fold Holdings, Inc.'s latest earnings 8-K →
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