Company: FLDDW
Filing Date: 2025-07-11
Form Type: S-1
Source: 0001213900-25-062935
Chunk: 264

Company: Fold Holdings, Inc.
Filing Date: 2025-07-11
Form: S-1
Chunk 264
---
 rules on our financial statements and related disclosures. In November 2024, the FASB issued ASU 2024 -03, Expense DisaggregationDisclosures (Topic 220), which requires entities to include more detailed information about the types of expenses, including purchases of inventory, employee compensation, depreciation, and amortization, in commonly presented expense captions such as cost of sales, research and development, and selling, general and administrative expenses. ASU 2024 -03is effective for fiscal years beginning after December 15, 2026, with early adoption permitted. The Company is currently evaluating the impact of this standard 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