Fold (NASDAQ:FLD) Releases Earnings Results

Fold (NASDAQ:FLD) announced its quarterly earnings results on Tuesday. The company reported ($0.59) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.43), FiscalAI reports. Fold had a negative return on equity of 81.78% and a negative net margin of 218.88%.The company had revenue of $5.59 million during the quarter, compared to the consensus estimate of $10.00 million.

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

• Fold said Q1 was a challenging quarter for the Bitcoin industry, with lower Bitcoin prices pressuring transaction volumes, trading activity, consumer engagement, revenue, and operating performance. Transaction volumes fell 31% year over year and revenue declined 21% year over year.
• The Fold credit card is now live with more than 1,000 cardholders, and management said rollout is proceeding ahead of schedule with strong early demand and encouraging user behavior. The company is intentionally throttling access while it validates fraud controls, underwriting, servicing, and economics.
• Management believes the credit card could become a major acquisition and engagement engine across the Fold ecosystem, especially as it expands through a wait list of more than 80,000 potential users. The company also said it is working on additional capital facilities to support larger-scale growth.
• The Bitcoin Gift Card continues to perform well, onboarding thousands of new customers and re-engaging existing users, and Fold is restructuring distribution economics to reduce customer friction and expand retail placement. Management expects the business to become increasingly cost neutral upfront while driving longer-term cross-sell into other products.
• Fold’s new Bitcoin Bonus Program with Steak ‘n Shake and others is drawing interest from additional employers, which management says could broaden into payroll, benefits, treasury, and corporate spending tools over time. The company views this as a potentially significant new business channel beyond consumer rewards.

Fold Trading Up 0.7%

Shares of FLD traded up $0.01 during midday trading on Tuesday, hitting $1.48. The stock had a trading volume of 294,391 shares, compared to its average volume of 142,364. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.86 and a quick ratio of 0.84. The stock’s 50 day moving average is $1.34 and its 200 day moving average is $2.16. Fold has a 1 year low of $1.00 and a 1 year high of $5.54. The firm has a market cap of $73.75 million, a PE ratio of -0.62 and a beta of 0.39.

Key Stories Impacting Fold

Here are the key news stories impacting Fold this week:

• Negative Sentiment: Fold reported first-quarter revenue of $5.6 million, down 21.1% year over year, while transaction volumes fell 32% from a year earlier, signaling weaker business activity. Fold Holdings, Inc. (NASDAQ: FLD) Announces First Quarter 2026 Results
• Negative Sentiment: The company posted a quarterly loss of $0.59 per share, missing analyst expectations by a wide margin, and revenue also came in below estimates at $5.59 million versus about $10.0 million expected. Quarterly Earnings Press Release
• Neutral Sentiment: Fold said it now has more than 1,000 Fold Bitcoin Credit Cards in circulation and is using restructuring fees on its Bitcoin Gift Card to support distribution, which may help future growth but is not an immediate earnings driver. Fold Holdings, Inc. (NASDAQ: FLD) Announces First Quarter 2026 Results
• Neutral Sentiment: Several unrelated articles about Samsung, Motorola, and Apple foldable phones were also circulating, but they do not appear to directly affect Fold Holdings’ operating results.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Weiss Ratings restated a “sell (d)” rating on shares of Fold in a research report on Thursday, January 22nd. Wall Street Zen upgraded Fold from a “strong sell” rating to a “sell” rating in a research report on Saturday, April 18th. Cantor Fitzgerald lowered their price objective on Fold from $4.50 to $2.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 18th. Finally, HC Wainwright lowered their price objective on Fold from $7.00 to $3.00 and set a “buy” rating on the stock in a research report on Wednesday, March 18th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $5.00.

Insider Buying and Selling at Fold

In other news, CFO Wolfe Repass sold 21,857 shares of the stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $1.48, for a total value of $32,348.36. Following the sale, the chief financial officer directly owned 150,377 shares in the company, valued at approximately $222,557.96. This represents a 12.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold 122,099 shares of company stock valued at $178,281 in the last quarter. Corporate insiders own 23.08% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its stake in Fold by 35.7% in the 4th quarter. Geode Capital Management LLC now owns 253,494 shares of the company’s stock worth $662,000 after buying an additional 66,690 shares during the period. Baird Financial Group Inc. purchased a new position in Fold in the 2nd quarter worth about $445,000. Vontobel Holding Ltd. increased its stake in Fold by 12.6% in the 4th quarter. Vontobel Holding Ltd. now owns 90,223 shares of the company’s stock worth $235,000 after buying an additional 10,118 shares during the period. State Street Corp increased its stake in Fold by 110.8% in the 4th quarter. State Street Corp now owns 78,200 shares of the company’s stock worth $204,000 after buying an additional 41,100 shares during the period. Finally, Mariner LLC increased its holdings in Fold by 60.9% during the 4th quarter. Mariner LLC now owns 63,518 shares of the company’s stock worth $166,000 after purchasing an additional 24,038 shares during the period. Hedge funds and other institutional investors own 56.89% of the company’s stock.

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.