Q2 2026 Fold Holdings Inc Earnings Call Transcript
Key Points
- Credit card early access program is performing well, with transactions per user increasing 4x and spend per user exceeding projections.
- Eliminated all secured debt, reducing monthly interest expense by nearly $145,000 and increasing financial flexibility.
- Established banking infrastructure through partnership with Lead Bank to participate in deposit economics and support platform expansion.
- Expanded distribution channels, including TikTok Shop, which is showing strong momentum and attracting a new customer base.
- Built proprietary bank-grade core ledger, positioning the company for long-term competitive advantage in multi-asset financial services.
- Revenue decreased 26% year-over-year to $6.1 million due to lower Bitcoin prices and reduced transaction activity.
- Net loss widened to $9.7 million in Q2 2026, compared to net income of $13.4 million in the prior year period.
- Adjusted EBITDA remained negative at -$5.5 million, driven by increased payroll and contractor expenses.
- The broader Bitcoin industry continues to face headwinds, pressuring trading volume and consumer engagement.
- Credit card scaling is limited by the need for additional financing partners, as the company currently self-finances all receivables.
Ladies and gentlemen, thank you for standing by. Welcome to Fold's second-quarter 2026 earnings call. (Operator Instructions) Please be advised that today's conference is being recorded. I would like now to turn the conference over to Samir Jain, Investor Relations. Please go ahead.
Thank you, operator. Good afternoon and thank you for joining us for Fold Holdings' second-quarter 2026 earnings call. Joining me on the call today are Chairman and CEO, Will Reeves; and CFO, Wolfe Repass.
Before we begin, please note that the information reported on this call speaks only as of today, August 11, 2026, and therefore, any time-sensitive information may no longer be accurate as of the time of any future replay, listening or transcript reading. A replay of today's call will be available by webcast on the company's website at https://investor.foldapp.com and more information on how to access this replay feature will be included in the company's earnings release.
Comments on this call may contain
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
