Fold Holdings, Inc. reported significant financial developments in its latest 10-Q filing for the quarter ending June 30, 2025. The company achieved net revenues of $8.2 million for the quarter, marking a 59% increase from $5.1 million in the same period last year. For the first half of 2025, revenues totaled $15.3 million, up 52% from $10.1 million in the first half of 2024. The increase in revenue was primarily driven by a 55% rise in banking and payment revenues, which reached $7.9 million, largely due to the expansion of the company's merchant offers.
Despite the revenue growth, Fold Holdings reported an operating loss of $6.3 million for the second quarter, compared to a loss of $1.2 million in the prior year. The total operating expenses surged to $14.5 million, a 129% increase from $6.3 million in the same quarter of 2024. This rise in expenses was attributed to increased banking and payment costs, compensation and benefits, and professional fees associated with the company's transition to a public entity following its merger with FTAC Emerald Acquisition Corp. in February 2025.
In terms of strategic developments, Fold Holdings has been actively expanding its product offerings. The company announced the upcoming launch of the Fold Credit Card, which is expected to provide users with bitcoin rewards, and the Fold Bitcoin Gift Card, which is already available for purchase. These new products are anticipated to enhance user engagement and attract new customers. As of June 30, 2025, Fold had approximately 615,000 total accounts, with over 80,000 verified accounts, reflecting a growing user base.
Operationally, Fold Holdings held 1,492 bitcoin in its Investment Treasury, valued at $159.9 million, as of June 30, 2025. The company also reported a customer rewards liability of $9.4 million, matching the value of its Rewards Treasury. The company’s accumulated deficit reached $136.8 million, with significant losses attributed to fair value adjustments on its SAFE notes and convertible debt. Looking ahead, Fold Holdings plans to leverage a $250 million equity purchase facility to fund further bitcoin acquisitions and support its operational needs. The company remains focused on enhancing its product offerings and expanding its market presence in the bitcoin financial services sector.
About Fold Holdings, Inc.
About 10-Q Filings
A 10-Q form is an important financial report that public companies in the United States must submit every three months. It gives a clear picture of a company's financial health and recent performance.
Key points about the 10-Q:
- Frequency: Companies file it three times a year, covering the first three quarters. The fourth quarter is covered in a more comprehensive annual report.
-
Content: It includes:
- Financial statements showing the company's current financial position
- Updates from management on the performance and projections of the business
- Information about potential risks the company faces
- Details on how the company is run internally
- Deadline: Must be filed within 40 or 45 days after the quarter ends, depending on the size of the company.
Our Methodology
AssetRoom is committed to providing timely summaries of news from public companies. We use AI to generate these summaries quickly, but they are not reviewed by human experts.
Our method:
- Data Collection: We continuously monitor for new filings (currently limited to US-listed stocks).
- AI-Powered Analysis: Our advanced AI system processes each filing, identifying key information and extracting relevant data.
- Summary Generation: The AI creates a concise, easy-to-understand summary of the filing, highlighting the most important points.
- Publication: The summary is immediately published on our platform, allowing users instant access to the latest information.
- Email users: We distribute round-up emails according to our users preferences, keeping them in the loop with the companies they follow.
Feedback & Corrections
Spot an error or have a suggestion? Contact us.