Overview
- Revenue rose 34% to $31.8 million as operating losses widened to $27.7 million from $5.8 million.
- Net loss reached $69.6 million, including a $9.6 million expense to retire two convertible bonds that CEO Will Reeves described as strategic housekeeping.
- Fold added 13,000 customers to reach 84,000 verified accounts, with annual transaction volume up 46% to $960 million.
- The company launched a Visa- and Stripe-enabled Bitcoin rewards credit card and Fold For Business, with Steak ‘n Shake using it for employee incentives, and leadership signaled more fraud and risk controls before scaling.
- Bitcoin holdings fell from 1,527 BTC to 827 BTC by March 17, as FFLD shares dropped 59% in 2026 year-to-date and 83.8% over 12 months after a brief post-earnings bounce.