Company: FLDDW
Filing Date: 2025-07-28
Form Type: S-1/A
Source: 0001213900-25-068264
Chunk: 151

Company: Fold Holdings, Inc.
Filing Date: 2025-07-28
Form: S-1/A
Chunk 151
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 certain GAAP metrics, we also monitor various non -GAAPmeasures to evaluate our business. We believe the following metrics and measures are useful to facilitate period -to-periodcomparisons of our business and to facilitate comparisons of our performance to that of other financial service providers. Where applicable we have provided definitions of metrics we consider key to our operations below. Accounts •Active Accounts represent current Fold accounts that have not been deactivated by Fold or the user; and •Verified Accounts represent users who have gone through Know Your Customer (“KYC”) verification to participate in our banking and exchange products. During the three months ended March 31, 2025, we added: •More than 17,000 new Active Accounts, bringing total Active Accounts to more than 609,000; and •More than 5,000 Verified Accounts, bringing total Verified Accounts to more than 76,000. Transaction volumes Transaction Volume is inclusive of deposits, spend, and withdrawals across our platform and are inclusive of both fiat (“USD”) and bitcoin (“BTC”) transaction volumes. From inception through March 31, 2025, Fold processed approximately $2.8 billion in Transaction Volume through our platform. For the three months ended March 31, 2025, we averaged more than $84 million in monthly Transaction Volume.

88 Key components of results of operations Revenue Banking and payments revenue Fold is a financial services platform and not a chartered bank. Our banking and payments revenues consist of revenues received from our Fold Debit Card and related product features, including: • Fold+ Subscriptions:Fold’s premium membership tier, called “Fold+”, offers users reduced or no fees on eligible products, higher rewards, and access to limited features. Fold+ costs $100/year or $10/month depending on the customer’s payment frequency selection. • Interchange:Every time a Fold user makes a payment using their Fold Debit Card, Fold earns a share of the total interchange fee charged on that transaction. Interchange fees are set by the card network (Visa) and charged as a percentage of the total sale. The amount of interchange earned by Fold is dependent on a wide variety of factors, including whether the transaction is processed in- or out -of-network, the merchant and their assigned merchant category code (“MCC Code”), and the type of purchase being made (signature v PIN debit transaction), among other variables. Interchange rates are subject to change by the card network (Visa) at any time. • Transaction Fees:Certain fees are charged to our