Company: FLDDW
Filing Date: 2025-04-01
Form Type: S-1
Source: 0001213900-25-026537
Chunk: 228

Company: Fold Holdings, Inc.
Filing Date: 2025-04-01
Form: S-1
Chunk 228
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 on its financial statement presentation and disclosures. We do not believe that any other recently issued but not yet effective accounting standards, if currently adopted, would have a material effect on our financial statements. 3. REVENUE Disaggregation of revenue We disaggregate revenue by service type and by platform as follows:

|                                    | Revenue stream |   |   Year Ended 
 December 31, 
         2024 |   |     |   |   Year Ended 
 December 31, 
         2023 |   |
|:-----------------------------------|:---------------|:--|-------------:|:--|:----|:--|-------------:|:--|
| Banking and payment revenues       |                | $ |   23,432,996 |   |     | $ |   21,369,897 |   |
| Custody and trading revenues       |                |   |      170,746 |   |     |   |       26,932 |   |
| Other revenues                     |                |   |      161,000 |   |     |   |      152,625 |   |
| Less: Sales returns and allowances |                |   |      (11,594 | ) |     |   |      (15,422 | ) |
| Revenues, net                      |                | $ |   23,753,148 |   |     | $ |   21,534,032 |   |

The net reduction in revenue related to Revenue Rewards totaled $1.8 million and $3.2 million for the years ended December 31, 2024 and 2023, respectively. Deferred revenue Contract liabilities are classified as deferred revenue in our balance sheets. As of December 31, 2024 and 2023, the contract liability related to our deferred subscription revenues was $0.3 million and $0.4 million, respectively, and the contract liability related to the deferred Visa incentive was $0.6 million and $0.7 million, respectively. The activity in deferred revenue for the years ended December 31, 2024 and 2023 was as follows:

|                                                                                       |     |   |   Year Ended 
 December 31, 
         2024 |   |     |   |   Year Ended 
 December 31, 
         2023 |   |
|:--------------------------------------------------------------------------------------|:----|:--|-------------:|:--|:----|:--|-------------:|:--|
|