Fold Holdings Reports FY25 Results, Launches Bitcoin Credit Card & Enterprise Services, Overhauls Capital Structure
FLD is trading near its 52-week low of $1.12 (4.0% above the low) on elevated volume (2.1× avg).
Summary
Fold Holdings reported strong FY25 revenue growth, launched new Bitcoin-focused products, and significantly improved its capital structure by eliminating convertible debt, despite ongoing operating losses.
Key Events · Financing and Capital Events · FLD
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Strong FY25 Revenue Growth
Reported full-year 2025 revenue of $31.8 million, a 34% increase year-over-year, driven by a 46% increase in total transaction volume to $960 million.
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Major Capital Structure Overhaul
Eliminated two outstanding convertible debt instruments and SAFEs, resulting in a shift from a ($67.8) million stockholders' equity deficit in 2024 to a positive $62.9 million in 2025, significantly de-risking the balance sheet.
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New Product Launches
Initiated a limited launch of the Fold Bitcoin Rewards Credit Card and introduced 'Fold for Business,' an enterprise service allowing companies to integrate Bitcoin into payroll and corporate programs.
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Continued Operating Losses
Reported an operating loss of ($27.7) million and a net loss of ($69.5) million for fiscal year 2025, indicating ongoing challenges with profitability.
Analysis · FLD · Crypto Assets
Fold Holdings announced its full-year 2025 financial results, highlighting a 34% year-over-year revenue increase to $31.8 million. More significantly, the company has undertaken a major capital structure overhaul, eliminating outstanding convertible debt instruments and SAFEs. This strategic move transformed stockholders' equity from a deficit of ($67.8) million in 2024 to a positive $62.9 million in 2025, substantially de-risking the balance sheet and removing structural overhang. Additionally, Fold launched its Bitcoin Rewards Credit Card and a new 'Fold for Business' enterprise service, signaling new growth avenues. While the company continues to report significant operating losses and a decrease in its Bitcoin investment treasury holdings, these strategic initiatives, particularly the balance sheet cleanup and new product launches, are critical for the company's long-term viability and future growth, especially as it trades near its 52-week low.
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In the 30 days to Sep 18, 2026, 40.2% of the 371 measured filings Wiseek scored 9 moved their stock by 5% or more by the next session's close. The median move was -0.52%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, FLD was trading at $1.16 on NASDAQ in the Crypto Assets sector, with a market capitalization of approximately $54.1M. The 52-week trading range was $1.12 to $8.50. This filing was assessed with positive market sentiment and an importance score of 9 out of 10.