Fold Q2 revenue falls, misses estimates as bitcoin prices pressure activity

Fold Holdings

11/08/2026 21:25

Overview
Bitcoin financial services firm's Q2 revenue declined and missed analyst expectations
Q2 adjusted EBITDA loss widened and missed analyst expectations
Company eliminated $20 mln of secured debt, strengthening balance sheet

Outlook
Fold plans to expand into asset-based revenue streams to generate recurring revenues
Company expects platform expansion to broaden its addressable market beyond bitcoin-native customers
Fold says lower bitcoin prices continue to pressure transaction activity and consumer engagement

Result Drivers
BITCOIN MARKET CONDITIONS - Co said lower bitcoin prices pressured transaction activity and consumer engagement in Q2
CREDIT CARD GROWTH - Number of Fold Credit Card holders more than doubled from last quarter, per co
PLATFORM EXPANSION - Co said partnership with Lead Bank and new asset-based services are expected to broaden addressable market and generate recurring revenues

Company press release: ID:nGNXblscnh

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Miss
$6.1 mln
$7.67 mln (3 Analysts)
Q2 Loss Per Share
 
$0.19
 
Q2 Net Loss
 
$9.7 mln
 
Q2 Adjusted EBITDA
Miss
-$5.50 mln
-$5.42 mln (3 Analysts)

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the blockchain & cryptocurrency peer group is "buy"
Wall Street's median 12-month price target for Fold Holdings Inc is $3.00, about 564.7% above its August 10 closing price of $0.45

Reuters Recommended Reads
Aug 10 - Bakkt Q2 revenue falls 70% on digital asset trading slowdown
Aug 10 - Strive Q2 net loss widens on bitcoin value drop
Aug 10 - Crypto bill faces long odds after Senate punts vote to September

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)