Fold Holdings (FLD) investor relations material

Executive summary

• Q2 2025 revenue reached $8.2M, up 59-60% year-over-year, with net profit of $13.4M compared to a loss last year.

• Transaction volumes hit $265M for the quarter, up 124% year-over-year, with active accounts surpassing 615,000 and over 10,000 new accounts added in Q2.

• Bitcoin holdings in treasury valued at $160M (1,492 BTC) as of June 30, 2025, with a $37M fair value gain in Q2.

• Launched major new products including Bitcoin Send and the Bitcoin Gift Card, with the credit card in development and a 75,000-person waitlist.

• Secured a $250M equity purchase facility to support Bitcoin accumulation and growth initiatives.

Financial highlights

• Q2 2025 revenues were $8.2M, up 59-60% YoY; YTD revenues at $15.3M, up 52% over 2024.

• Net profit for Q2 2025 was $13.4M, a turnaround from a $2.3M–$2.4M loss in Q2 2024.

• Adjusted EBITDA loss was $4.7M in Q2 2025, compared to a $1.2M loss in Q2 2024, mainly from increased legal and payroll costs.

• Cash and cash equivalents stood at $6.6M as of June 30, 2025, with positive working capital of $7.8M and zero unsecured debt.

• Total transaction volume for Q2 was $265M, up 124% YoY.

Outlook and guidance

• Legacy product lines expected to generate $34M–$42M in revenue for 2025, consistent with prior guidance.

• New products (Bitcoin Gift Card, Credit Card) anticipated to expand addressable market and drive future revenue growth, with the credit card expected to launch in late 2025.

• Q4 is historically the highest volume and revenue quarter due to seasonal spending.

• Plans for broad distribution of the Bitcoin Gift Card across US retail channels.

• Enhanced funding options and expanded trading coverage to more states.