Fold NASDAQ: FLD reported a difficult first quarter of fiscal 2026, with management citing a broad pullback in Bitcoin prices and related pressure on customer activity across the industry.
Fold Holdings, Inc. (FLD) came out with a quarterly loss of $0.2 per share versus the Zacks Consensus Estimate of a loss of $0.16. This compares to a loss of $0.42 per share a year ago.
Fold Holdings shares have dropped over 50% in under eight months since my initial 'hold' rating, reflecting ongoing skepticism. Though the company grew revenue year over year, account growth seems slow for a company priced at 5x forward sales. With Fold's basic mNAV already falling under 1.0, there is a growing incentive for the company to sell BTC to raise needed capital.