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Fold Holdings Q3 revenue misses estimates

By Reuters News


Overview

  • US bitcoin financial services firm's Q3 revenue fell and missed analyst expectations

  • Company posted a net loss for Q3 2026

  • Custody & Trading revenue rose 270%, driven by TikTok Shop gift card sales


Outlook

  • Fold Holdings expects to announce a financing partner for its Credit Card program soon

  • Company plans to add a credit facility partner to scale its Credit Card program

  • Fold says early demand for new balance products is running ahead of expectations


Result Drivers

  • TIKTOK SHOP SALES - Co said TikTok Shop became largest gift card and customer acquisition channel, driving a 270% increase in Custody & Trading revenue

  • NEW BALANCE PRODUCTS - Early demand for new balance products, including Fold Reserve and Lead Bank accounts, ran ahead of expectations with customers holding balances several times larger than average user, per CEO Will Reeves

  • PLATFORM EXPANSION - Launch of stored-value products and pass-through bitcoin buying enabled customers to hold funds and buy bitcoin directly from linked bank accounts


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

Miss

$4.20 mln

$7.73 mln (4 Analysts)

Q3 Net Loss

$2.60 mln


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the blockchain & cryptocurrency peer group is "buy"

  • Wall Street's median 12-month price target for Fold Holdings Inc is $2.50, about 442.8% above its November 9 closing price of $0.46


Reuters Recommended Reads

  • Nov 9 - BitGo Q3 revenue drops 51% as crypto trading slows

  • Nov 9 - Exodus Movement Q3 swings to net loss

  • Nov 9 - Bain Capital Specialty Finance Q3 net investment income falls q-o-q


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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