Business
Fold Holdings Inc. (NASDAQ: FLD) Announces First Quarter 2025 Results
Revenue: $7.1 million, 44% YoY increaseBitcoin Treasury Holdings: 1,490 BTC, ~50% increase from Q4 2024Launched Bitcoin Gift Card with access to network of
About this update from Fold Holdings, Inc.
[{"type":"text","content":"Revenue: $7.1 million, 44% YoY increaseBitcoin Treasury Holdings: 1,490 BTC, ~50% increase from Q4 2024Launched Bitcoin Gift Card with access to network of thousands of retailersNew accounts up over 300% YoY and platform volumes up 67% YoY PHOENIX, May 15, 2025 (GLOBE NEWSWIRE) -- Fold Holdings, Inc. (NASDAQ: FLD) (“Fold”), the first publicly traded bitcoin financial services company, today announced financial results for the first quarter ended March 31, 2025. Financial Highlights Revenue: $7.1 million; 44% YoY increaseGAAP Net Loss: ($48.9) millionAdjusted EBITDA (Loss) (non-GAAP): ($4.2) millionGAAP Loss Per Share: ($1.92) per shareAdjusted EBITDA (Loss) Per Share (non-GAAP): ($0.17) per shareBitcoin Treasury Holdings: 1,490 bitcoin; +$150 million value as of 5/13/2025 Key Operating Metrics Total Transaction Volume: +$250 million; 67% YoY increaseTotal Active Accounts: +600,000, added +17,000 new accounts in the quarterTotal Verified Accounts: +76,000, added +5,000 new verified accounts in the quarter CEO Commentary“We are pleased to report a strong first quarter, with revenues for the period increasing by 44% versus a year ago, while core KPIs such as Active Accounts and Transaction Volumes were also up”, said Fold Chairman and CEO, Will Reeves. “From Fold’s public listing in February to our recent new product announcements, we have already made meaningful progress in 2025.” Mr. Reeves continued, “In particular, we made significant progress on new initiatives that we believe improve the growth prospects for Fold. First, in February, we announced the launch of the Fold Bitcoin Rewards Credit Card, which currently has a waitlist of 75,000 people. We are working towards launching the card later this year and believe it can be an important growth driver of Fold’s business. Second, we are prioritizing the expansion of our Custody and Trading business by adding enhanced functionality to the platform. Our initiatives include increasing access to the platform beyond Fold cardholders to all users, supporting larger bitcoin orders through acceptance of wire deposits, and expanding the geographic reach of Fold’s suite of services. We believe these developments will allow us to open our platform to a meaningfully larger market. Our most recent announcement, the Fold Bitcoin Gift Card, is designed to allow consumers to acquire bitcoin by...