Fold Holdings, Inc. (FLD) Balance Sheet
FLD balance sheet, 2025
December 31, 2025 · U.S. dollars$153.5M assets = $90.5M liabilities + $63.0M equity
Both columns are drawn to the same scale: what FLD owns equals what it owes plus shareholders’ equity. Hover a block for its value.
FLD financial health
Descriptive bands, not a rating. Fiscal 2025.
FLD balance sheet trends, 2021–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $225.2M2021 | $153.5M2025 | −9.1%/yr | |
| Total liabilities | $8.9M2021 | $90.5M2025 | +78.3%/yr | |
| Shareholders’ equity | $216.2M2021 | $63.0M2025 | −26.5%/yr | |
| Cash & short-term investments | $1.2M2021 | $7.7M2025 | +58.0%/yr | |
| Total debt | $2.0M2023 | $78.7M2025 | +523.3%/yr | |
| Net cash (debt) | −$2.0M2023 | −$71.0M2025 | −$69.0M | |
| Working capital | $1.5M2021 | −$3.0M2025 | −$4.5M | |
| Book value per share | −$0.032022 | $1.492025 | — | |
| Current ratio | 17.522021 | 0.862025 | −16.66 | |
| Shares outstanding | 46.1M2022 | 42.2M2025 | −2.9%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
FLD assets
FLD liabilities and equity
FLD debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
FLD balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Assets | |||||
| Cash & short-term investments | $7.7M | $18.3M | $29,844 | $8.4M | $1.2M |
| Cash & equivalents | $7.7M | $906,043 | $29,844 | $5.4M | $1.2M |
| Short-term investments | — | — | $5.3M | $3.0M | — |
| Receivables | $934,397 | $451,455 | $624,903 | $1.6M | $0 |
| Inventory | $478,045 | $262,813 | $129,194 | $350,839 | $0 |
| Other current assets | $9.1M | $9.3M | $0 | $1.4M | $411,358 |
| Total current assets | $18.1M | $28.3M | $306,059 | $11.8M | $1.6M |
| Property, plant & equipment (net) | $0 | $0 | $0 | $0 | $0 |
| Goodwill & intangible assets | $1.4M | $1.0M | $553,766 | $471,526 | $0 |
| Long-term investments | $133.7M | $93.6M | $82,631 | $177,264 | $0 |
| Other non-current assets | $299,309 | $0 | $165.0M | $0 | $223.5M |
| Total assets | $153.5M | $52.2M | $166.0M | $12.4M | $225.2M |
| Liabilities | |||||
| Accounts payable | $704,789 | $533,197 | $114,659 | $302,143 | $77,131 |
| Short-term debt | $10.0M | $5.7M | $2.0M | — | — |
| Deferred revenue | $366,252 | — | — | $661,426 | — |
| Total current liabilities | $21.1M | $9.3M | $3.4M | $4.3M | $93,582 |
| Long-term debt | $68.7M | $0 | $0 | $0 | $0 |
| Other long-term liabilities | $689,680 | $51.2M | $166.9M | $9.4M | $8.9M |
| Total liabilities | $90.5M | $60.5M | $170.3M | $13.7M | $8.9M |
| Shareholders' equity | |||||
| Common stock & paid-in capital | $4,849 | $959 | $959 | $707 | $222.2M |
| Retained earnings (deficit) | −$170.9M | −$14.3M | −$11.3M | −$29.1M | −$6.0M |
| Accumulated other comprehensive income | — | — | — | — | $0 |
| Total shareholders' equity | $63.0M | −$8.3M | −$4.3M | −$1.3M | $216.2M |
| Key figures | |||||
| Total debt | $78.7M | $5.7M | $2.0M | — | — |
| Net cash (debt) | −$71.0M | $12.6M | −$2.0M | — | — |
| Working capital | −$3.0M | $19.0M | −$3.1M | $7.5M | $1.5M |
| Tangible book value | $61.6M | −$9.3M | −$4.9M | −$1.7M | $216.2M |
| Book value per share | $1.49 | −$0.56 | −$0.13 | −$0.03 | — |
| Shares outstanding | 42.2M | 15.0M | 32.1M | 46.1M | — |
| Current ratio | 0.86 | 3.05 | 0.09 | 2.73 | 17.52 |
| Quick ratio | 0.41 | 2.02 | 0.19 | 2.32 | 13.12 |
| Debt / equity | 1.25 | — | — | — | — |
| Equity / assets | 41.0% | −15.9% | −2.6% | −10.2% | 96.0% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $28.4M | $11.5M | $7.7M | $6.7M | $6.6M | $11.7M | $18.3M | $10.8M | $8.7M | $136,954 | $29,844 | $25,623 |
| Cash & equivalents | $28.4M | $11.5M | $7.7M | $6.7M | $6.6M | $11.7M | $906,043 | $4.4M | $2.2M | $136,954 | $29,844 | $25,623 |
| Short-term investments | — | — | — | — | — | — | — | $6.4M | $6.6M | — | $5.3M | — |
| Receivables | $614,801 | $714,979 | $934,397 | $514,888 | $888,913 | $1.2M | $451,455 | $616,193 | $697,892 | $697,892 | $624,903 | $0 |
| Inventory | $847,308 | $460,701 | $478,045 | $366,049 | $330,302 | $403,595 | $262,813 | $178,983 | $187,260 | $0 | $129,194 | $0 |
| Other current assets | $9.2M | $7.3M | $9.1M | $11.5M | $12.8M | $11.2M | $9.3M | $7.3M | $4.9M | $0 | $0 | $83,448 |
| Total current assets | $39.0M | $20.0M | $18.1M | $19.1M | $20.7M | $24.4M | $28.3M | $18.9M | $14.5M | $358,536 | $306,059 | $109,071 |
| Property, plant & equipment (net) | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill & intangible assets | $2.0M | $1.7M | $1.4M | $1.2M | $1.2M | $1.2M | $1.0M | $855,917 | $738,537 | $738,537 | $553,766 | $0 |
| Long-term investments | $11.4M | $56.4M | $133.7M | $170.4M | $159.9M | $123.0M | $93.6M | $63.9M | $49.0M | $0 | $82,631 | $0 |
| Other non-current assets | $131,770 | $292,858 | $299,309 | $309,444 | $353,250 | $0 | $0 | $0 | $0 | $50.4M | $165.0M | $165.2M |
| Total assets | $52.5M | $78.3M | $153.5M | $191.0M | $182.1M | $148.5M | $52.2M | $83.7M | $64.2M | $51.5M | $166.0M | $165.3M |
| Liabilities | ||||||||||||
| Accounts payable | $698,556 | $1.7M | $704,789 | $1.1M | $1.3M | $1.5M | $533,197 | $1.8M | $377,063 | $124,224 | $114,659 | $447,032 |
| Short-term debt | $12.4M | $32.2M | $10.0M | — | — | — | $5.7M | $3.4M | $3.0M | $2.6M | $2.0M | $1.5M |
| Deferred revenue | $228,148 | $308,627 | $366,252 | $382,983 | $290,517 | $358,716 | — | $422,888 | $249,581 | — | — | — |
| Total current liabilities | $21.2M | $42.0M | $21.1M | $13.0M | $12.9M | $11.1M | $9.3M | $15.4M | $11.7M | $5.3M | $3.4M | $2.9M |
| Long-term debt | $0 | $0 | $68.7M | $82.4M | $79.9M | $65.1M | $0 | $0 | $0 | $0 | $0 | $0 |
| Other long-term liabilities | $0 | $0 | $689,680 | $931,410 | $744,907 | $470,176 | $51.2M | $142.3M | $64.3M | $1.2M | $1.2M | $9.9M |
| Total liabilities | $21.2M | $42.0M | $90.5M | $96.3M | $93.6M | $76.7M | $60.5M | $157.7M | $75.9M | $6.5M | $4.5M | $12.8M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $5,542 | $5,076 | $4,849 | $4,873 | $4,658 | $4,625 | $959 | $707 | $707 | $51.0M | $165.7M | $164.0M |
| Retained earnings (deficit) | −$209.8M | −$200.1M | −$170.9M | −$136.2M | −$136.8M | −$150.2M | −$14.3M | −$101.8M | −$39.5M | −$13.3M | −$11.3M | −$11.5M |
| Accumulated other comprehensive income | — | — | — | — | — | — | — | $0 | $0 | — | — | — |
| Total shareholders' equity | $31.3M | $36.4M | $63.0M | $94.7M | $88.5M | $71.9M | −$8.3M | −$74.0M | −$11.7M | $45.1M | $161.4M | $152.5M |
| Key figures | ||||||||||||
| Total debt | $12.4M | $32.2M | $78.7M | $82.4M | $79.9M | $65.1M | $5.7M | $3.4M | $3.0M | $2.6M | $2.0M | $1.5M |
| Net cash (debt) | $15.9M | −$20.6M | −$71.0M | −$75.7M | −$73.3M | −$53.4M | $12.6M | $7.3M | $5.8M | −$2.4M | −$2.0M | −$1.5M |
| Working capital | $17.8M | −$22.0M | −$3.0M | $6.1M | $7.8M | $13.3M | $19.0M | $3.5M | $2.8M | −$5.0M | −$3.1M | −$2.8M |
| Tangible book value | $29.3M | $34.6M | $61.6M | $93.5M | $87.3M | $70.7M | −$9.3M | −$74.9M | −$12.4M | $44.3M | $160.9M | $152.5M |
| Book value per share | $0.60 | $0.73 | $1.49 | $2.02 | $1.86 | $2.83 | −$0.22 | — | −$0.25 | $0.98 | $6.39 | $4.48 |
| Shares outstanding | 51.8M | 49.7M | 42.2M | 46.9M | 47.6M | 25.4M | 38.7M | — | 46.3M | 46.1M | 25.3M | 34.1M |
| Current ratio | 1.84 | 0.48 | 0.86 | 1.47 | 1.60 | 2.20 | 3.05 | 1.22 | 1.24 | 0.07 | 0.09 | 0.04 |
| Quick ratio | 1.37 | 0.29 | 0.41 | 0.55 | 0.58 | 1.16 | 2.02 | 0.74 | 0.81 | 0.16 | 0.19 | 0.01 |
| Debt / equity | 0.40 | 0.88 | 1.25 | 0.87 | 0.90 | 0.91 | — | — | — | 0.06 | 0.01 | 0.01 |
| Equity / assets | 59.5% | 46.4% | 41.0% | 49.6% | 48.6% | 48.4% | −15.9% | −88.5% | −18.2% | 87.4% | 97.3% | 92.3% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed March 17, 2026); data from EODHD.
FLD financial position
At the end of fiscal 2025 (December 31, 2025), Fold had total assets of $153.5 million (up 193.9% from a year earlier), total liabilities of $90.5 million and shareholders' equity of $63.0 million. It held $7.7 million in cash and short-term investments against $78.7 million of debt, net debt of $71.0 million. Its current ratio was 0.86. In the latest quarter (ended June 30, 2026) total assets were $52.5 million and equity $31.3 million.
Related: FLD income statement, FLD cash flow statement, FLD key metrics. See the FLD stock overview for the latest quote and news.
FLD balance sheet FAQ
What are Fold's total assets?
Fold reported total assets of $153.5 million at the end of fiscal 2025 (December 31, 2025), compared with $52.2 million a year earlier.
How much debt does Fold have?
Fold had $78.7 million of total debt at the end of fiscal 2025, including short-term borrowings. Its debt-to-equity ratio was 1.25.
How much cash does Fold have?
Fold held $7.7 million in cash and short-term investments at the end of fiscal 2025; with $78.7 million of debt that is net debt of $71.0 million.
What is Fold's book value?
Fold's shareholders' equity (book value) was $63.0 million at the end of fiscal 2025, or $1.49 per share.
What is Fold's current ratio?
Fold had current assets of $18.1 million and current liabilities of $21.1 million, a current ratio of 0.86 (current liabilities exceed current assets).
How much goodwill does Fold have?
Fold carried $1.4 million of goodwill and intangible assets, 0.9% of total assets, at the end of fiscal 2025.