Company: FLDDW
Filing Date: 2025-05-15
Form Type: 424B3
Source: 0000950170-25-072851
Chunk: 9

Company: Fold Holdings, Inc.
Filing Date: 2025-05-15
Form: 424B3
Chunk 9
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 recoveries of losses recorded, and associated timing.

Segment information

We have one operating and reportable segment. Operating segments are defined as components of an enterprise about which separate financial information is evaluated regularly by the chief operating decision maker ("CODM"), who is our CEO, in deciding how to allocate resources and assessing performance. During the three months ended March 31, 2025 and 2024, all operations were within the United States. The CODM allocates resources and assesses performance based upon financial information at the entity-wide level. Since the CODM makes operating decisions and allocates resources on an entity-wide basis, Fold operates as one operating segment and one reportable segment.

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Fold Holdings, Inc.

Notes to Unaudited Condensed Financial Statements</div>

The primary financial measure used by the CODM to evaluate performance is operating income (loss) as shown on the statements of operations. Segment expenses and other segment items are provided to the CODM on the same basis as disclosed in the statements of operations. The CODM does not evaluate performance or allocate resources based on segment assets, and therefore such information is not presented in the notes to the financial statements. Capitalized software development costs, net The Company capitalizes significant costs incurred in the acquisition or development of the internal software for use in the Company's various service offerings. The Company incurs costs in developing software inclusive of direct external costs and internal payroll costs. Internal payroll costs typically include salaries and wages. Capitalized software costs are stated at cost net of accumulated amortization. Amortization is provided utilizing the straight-line method over the estimated useful life of the software, which is three years. Costs incurred in the preliminary and post-implementation phases of the Company's internal use software are expensed as incurred. Capitalized software development costs consisted of the following:

|                                             |     | March 31, 2025 |     |           |   |     | December 31, 2024 |     |           |   |
|:--------------------------------------------|:----|:---------------|:----|----------:|:--|:----|:------------------|:----|----------:|:--|
| Capitalized software, gross carrying amount |     | $              |     | 1,752,449 |   |     | $                 |     | 1,486,228 |   |
| Less: accumulated amortization              |     |                |     |  (577,234 | ) |     |                   |