Fold Holdings Inc. Class A Common Stock (FLD)

FairStock Score: 41/100 — MIXED

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I am wary of a falling price being mistaken for a bargain. Fold Holdings is a bitcoin financial services company with 43 employees, offering an FDIC-insured checking account, a Visa prepaid debit card and merchant rewards. In the quarter ended 2026-06-30, filed figures show revenue of $6.1 million and a net loss of $9.7 million. Revenue in that quarter fell from $8.2 million in the quarter ended 2025-06-30. The quarter ended 2026-03-31 was worse: revenue of $5.6 million and a net loss of $29.2 million. There were profitable quarters earlier: in the quarter ended 2025-06-30, net income was $13.4 million on $8.2 million of revenue; in the quarter ended 2025-09-30, net income was $554,242 on $7.4 million. But FY2025 produced a net loss of $69.6 million on $31.8 million of revenue, after a FY2024 net loss of $65.1 million on $23.8 million. FY2023 had net income of $4.4 million. The FairStock Lynch category is TURNAROUND—loss in the latest year after earlier profits—which fits. At the 2026-10-13 close of $0.54, FairStock calculates P/B of 0.95 and ROE of -121.82%, with a Piotroski F-Score of 6/9. The FairStock Score is 41/100. A price near book can look cheap, but negative returns on equity mean book is melting. D/E of 0.40 is not extreme, yet I see no durable moat in a crowded bitcoin-finance niche. Bank-specific measures such as CET1, net interest margin, or combined ratio are not in the data. Without consistent earnings and clearer risk metrics, this is speculation, not a Graham margin of safety.

In plain English: Fold Holdings is a small financial-services company that offers bitcoin-related products, including a checking account and a debit card, to U.S. consumers. The business looks weak right now: it has been losing money, and its latest quarterly revenue fell from a year earlier. The share price is close to the value of its assets minus debts on its books, but with continuing losses it is hard to call the price clearly cheap.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer