Fold Q2 Revenue Misses Estimates by 20%, Loss Widens Amid Bitcoin Slump
FLD sits 27% above its 52-week low of $0.355 on light trading volume (0.1× avg).
Summary
Fold reported Q2 revenue of $6.1M, missing the $7.67M consensus by 20%, as lower bitcoin prices pressured transaction activity. Adjusted EBITDA loss of $5.50M was slightly wider than expected, and net loss reached $9.7M. This follows a Q1 that already saw a 21% revenue decline and a $30.3M digital asset loss. The company is pivoting to asset-based revenue streams and a Lead Bank partnership to broaden its market beyond bitcoin-native users. Credit card holders more than doubled sequentially, offering a potential growth lever. With the stock at $0.45 and a Nasdaq delisting notice already in hand, the upcoming reverse split vote becomes critical for survival.
At the time of this announcement, FLD was trading at $0.45 on NASDAQ in the Crypto Assets sector, with a market capitalization of approximately $22.9M. The 52-week trading range was $0.36 to $4.70. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Reuters.