10-Q · May 12, 2026
Fold Holdings, Inc. reported a disappointing Q1 2026, with revenue of $5.6 million, significantly lower than the expected $9.99 million, marking a 21% decrease from $7.1 million in the same quarter last year. The net…
Earnings analysis · 10-Q
FLD earnings analysis
Filed August 11, 2026 · Our reading of the company's report
The latest report
Fold reported Q2 2026 revenue of approximately $6.1 million and EPS of $(0.19), reflecting continued losses and weaker-than-expected operating performance. The balance sheet benefited from elimination of approximately…
Read full summary
Fold reported Q2 2026 revenue of approximately $6.1 million and EPS of $(0.19), reflecting continued losses and weaker-than-expected operating performance. The balance sheet benefited from elimination of approximately $20 million of secured debt and addition of approximately $25 million of unrestricted capital, but the company disclosed a material weakness in controls over complex debt and equity transactions. A new Nasdaq deficiency notice, with a $1.00 minimum bid-price requirement and a January 11, 2027 compliance deadline, adds significant financing and listing risk.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $-0.19
What stood out
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Q2 revenue and EPS reported
Q2 2026 revenue was approximately $6.1 million and diluted EPS was $(0.19).
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Debt reduced and capital strengthened
The company eliminated approximately $20 million of secured debt and added approximately $25 million of unrestricted capital during the quarter.
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Credit Card adoption accelerated
Management stated that Credit Card adoption accelerated in Q2 2026, supporting continued development of the company’s payments strategy.
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Bankruptcy clawback proceeding resolved
The bankruptcy clawback matter was resolved through a settlement agreement entered into on June 30, 2026, and the related proceeding was dismissed with prejudice.
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Remediation efforts initiated
Fold engaged consultants to strengthen technical accounting, financial reporting, and internal-control processes as of June 30, 2026.
What to watch
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Material weakness in financial controls
The company reported a material weakness as of June 30, 2026 because it had not designed or operated effective controls surrounding complex debt and equity transactions. Management stated that remediation is not complete until controls operate effectively for a sufficient period and formal testing is completed.
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Nasdaq minimum-bid-price deficiency
Nasdaq notified Fold on July 14, 2026 that its closing bid price had been below the $1.00 minimum for the 30 consecutive business days from May 28 through July 13, 2026. The company has until January 11, 2027 to regain compliance, subject to Nasdaq rules.
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Losses and limited forward visibility
Q2 2026 revenue of approximately $6.1 million and EPS of $(0.19) indicate continued operating pressure and losses, while no quantitative forward outlook was provided.
Management's outlook
No quantitative forward revenue or EPS guidance was provided in the filing; management's discussion does not establish a numeric outlook.
Earlier filings 4
10-K · March 17, 2026
Fold Holdings, Inc. reported a revenue increase of $8.04 million, or 34%, for the year ended December 31, 2025, totaling $31.8 million despite a net loss of $69.59 million. The company faced sharp increases in operating…
10-Q · November 10, 2025
Fold Holdings, Inc. reported a significant revenue increase of 41% year-over-year in Q3 2025, albeit with an operating loss that deepened. The company continues to expand its product offerings, particularly through the…
10-Q · August 12, 2025
For Q2 2025, Fold Holdings, Inc. reported revenue of $8.18 million, a year-over-year increase of 59%. Despite the rise in revenues, the company posted an operating loss of $6.33 million and significant increases in…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.