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Fold Holdings cash flow, quarter by quarter

Latest: Q2 2026 · from the cash-flow statements filed with the SEC

Free cash flow−$9.5M in Q2 2026 · −$23.2M over twelve months

Operating cash flow−$9.5M
Free cash flow−$9.5M

Analysis

In Q2 2026, Fold Holdings generated −$9.5M of operating cash flow. That is $5.5M less than in Q2 2025 (−$4.0M).

Over the twelve months to Jun 30, 2026, operating cash flow was −$23.2M; the largest uses were other financing ($33.1M), operating cash flow ($23.2M); besides operations, cash came from other investing ($50.5M), net borrowing (+) / repaid (−) ($20.0M); the cash balance rose by $21.8M.

Operating cash flow was −$9.5M against net income of −$9.7M. The largest differences: stock-based pay +$1.7M, payables −$955K, inventory −$387K.

Free cash flow

Fold Holdings: free cash flow by quarterFold Holdings: free cash flow by quarter−$2.2MQ3 2024$78KQ4 2024−$5.0MQ1 2025−$4.0MQ2 2025−$2.5MQ3 2025−$4.7MQ4 2025−$6.6MQ1 2026−$9.5MQ2 2026
Operating cash flow less capital spending.
Fold Holdings: operating cash flow against capital spendingFold Holdings: operating cash flow against capital spendingOperating cash flowCapital spending−$2.2M$0Q3 2024$78K$0Q4 2024−$5.0M$0Q1 2025−$4.0M$0Q2 2025−$2.5M$0Q3 2025−$4.7M$0Q4 2025−$6.6M$0Q1 2026−$9.5M$0Q2 2026
Latest (Q2 2026): Operating cash flow −$9.5M, Capital spending $0.

Capital allocation, year by year

Fold Holdings: where the cash came from (up) and went (down), by fiscal yearFold Holdings: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedBuybacksFY2022: Operating cash flow −$1.7MFY2022: Net borrowing $28.7MFY2022: Shares issued $13.7M$42.4MFY2022FY2023: Operating cash flow −$5.1MFY2023: Buybacks −$96.8MFY2023FY2024: Operating cash flow −$3.3MFY2024: Net borrowing $550KFY2024: Shares issued −$1.6MFY2024: Buybacks −$117M$550KFY2024FY2025: Operating cash flow −$16.1MFY2025: Net borrowing $10.0MFY2025: Shares issued $4.4M$14.4MFY2025
Over these 4 years operating cash flow totalled −$26.2M; the largest uses were buybacks ($214M) and operating cash flow ($26.2M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$28.4M
Debtnone
Net cash$28.4M
Cash runway15 months

Fold Holdings is burning cash: its operations consume cash, a free cash flow of −$23.2M a year at the current rate against $28.4M of cash and investments: a runway of about 15 months before any new financing.

Where the cash came from and went

Fold Holdings: sources (+) and uses (−) of cash, Q2 2026Fold Holdings: sources (+) and uses (−) of cash, Q2 2026Other investing$43.4MOther financing−$20.0MCash drawn (+) / kept (−)−$16.9MOperating cash flow−$9.5MShares issued$2.9M
Fold Holdings: sources (+) and uses (−) of cash, TTM to Q2 2026Fold Holdings: sources (+) and uses (−) of cash, TTM to Q2 2026Other investing$50.5MOther financing−$33.1MOperating cash flow−$23.2MCash drawn (+) / kept (−)−$21.8MNet borrowing (+) / repaid (−)$20.0MShares issued$7.6M

From profit to cash

Fold Holdings: net income to operating cash flow, Q2 2026Fold Holdings: net income to operating cash flow, Q2 2026Net income−$9.7MStock-based pay$1.7MOther non-cash−$209KReceivables−$76KInventory−$387KPayables−$955KAccrued liabilities$200KDeferred revenue$30KPrepaid and other assets$282KOperating cash flow−$9.5M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowBuybacksNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q2 2026−$9.5M——$2.9M−$16.9M−$9.5M
Q1 2026−$6.6M—−$2.2M$390K−$3.9M−$6.6M
Q4 2025−$4.7M——$891K−$989K−$4.7M
Q3 2025−$2.5M——$3.5M−$54K−$2.5M
Q2 2025−$4.0M———$5.1M−$4.0M
Q1 2025−$5.0M———$6.6M−$5.0M
Q4 2024$78K−$1.2M—−$1.6M−$13.9M$78K
Q3 2024−$2.2M———−$2.2M−$2.2M

Fold Holdings: income statement and cash flow

Fold Holdings, Q2 2026: revenue $6.1M (-26% year over year), operating margin -158.5%. The chart follows the revenue to costs, profit and cash.

Fold Holdings: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.