Fold (NASDAQ:FLD) Posts Quarterly Earnings Results, Misses Expectations By $0.43 EPS

Key Points

• Fold reported a weak quarter, posting EPS of -$0.59 versus the -$0.16 consensus and revenue of $5.59 million, well below the roughly $10 million expected.
• Management said the quarter was challenging for the Bitcoin business, with lower Bitcoin prices hurting transaction volumes, engagement, and revenue; transaction volumes fell 31% year over year and revenue declined 21%.
• Despite the disappointing results, Fold highlighted growth initiatives, including a live Bitcoin credit card with more than 1,000 cardholders and an 80,000+ person wait list, which it sees as a future acquisition and engagement engine.

Fold (NASDAQ:FLD - Get Free Report) issued its quarterly earnings results on Tuesday. The company reported ($0.59) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.43), FiscalAI reports. Fold had a negative net margin of 218.88% and a negative return on equity of 81.78%. 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 mid-day trading on Tuesday, reaching $1.48. The company's stock had a trading volume of 294,391 shares, compared to its average volume of 142,364. Fold has a 52 week low of $1.00 and a 52 week high of $5.54. The company has a current ratio of 0.86, a quick ratio of 0.84 and a debt-to-equity ratio of 1.09. The company's fifty day moving average price is $1.34 and its two-hundred day moving average price is $2.16. The stock has a market cap of $73.75 million, a PE ratio of -0.62 and a beta of 0.39.

Insider Buying and Selling at Fold

In other news, CFO Wolfe Repass sold 21,857 shares of the business's stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $1.48, for a total value of $32,348.36. Following the completion of the sale, the chief financial officer owned 150,377 shares of the company's stock, valued at approximately $222,557.96. The trade was a 12.69% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last three months, insiders sold 122,099 shares of company stock valued at $178,281. Insiders own 23.08% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in FLD. Aptus Capital Advisors LLC bought a new position in shares of Fold in the 3rd quarter worth about $39,000. Barclays PLC bought a new position in Fold during the 4th quarter valued at approximately $26,000. Goldman Sachs Group Inc. bought a new stake in Fold during the 4th quarter valued at about $28,000. Squarepoint Ops LLC bought a new stake in Fold during the 3rd quarter valued at about $46,000. Finally, Charles Schwab Investment Management Inc. bought a new stake in Fold during the 4th quarter valued at about $41,000. 56.89% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Trending Headlines about 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.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.