Company: FLDDW
Filing Date: 2025-07-11
Form Type: S-1
Source: 0001213900-25-062935
Chunk: 161

Company: Fold Holdings, Inc.
Filing Date: 2025-07-11
Form: S-1
Chunk 161
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 to monitor the financial health of our business. Adjusted EBITDA is defined as net loss, excluding (i) interest expense, (ii) provision for (benefit from) income taxes, (iii) depreciation and amortization, (iv) share -basedcompensation, (v) remeasurement gains and losses such as fair value remeasurements on our digital assets, convertible notes, and SAFE notes, and (vi) impairments, restructuring charges, and business acquisition- or disposition -relatedexpenses that we believe are not indicative of our core operating results. This non -GAAPfinancial information has limitations as an analytical tool when assessing our operating performance, is presented for supplemental informational purposes only, should not be considered in isolation or as a substitute for, or superior to, financial information presented in accordance with GAAP, and may be different from similarly titled non -GAAPmeasures used by other companies. The above items are excluded from our Adjusted EBITDA measure because these items are non -cashin nature, or because the amount and timing of these items are unpredictable, are not driven by core results of operations, and/or render comparisons with prior periods and competitors less meaningful. We believe Adjusted EBITDA provides useful information to investors and others in understanding and evaluating our results of core operations, as well as providing a useful measure for period -to-periodcomparisons of our business performance. Moreover, Adjusted EBITDA is a key measurement used by our management internally to make operating decisions, including those related to operating expenses, evaluate performance, and perform strategic planning and annual budgeting. The following table presents a reconciliation of Adjusted EBITDA to the most directly comparable GAAP measure, net loss:

|                                                  |     | Three Months Ended 
 March 31,          
 2025               |             |   |     | 2024 |            |   |
|:-------------------------------------------------|:----|:-------------------|------------:|:--|:----|:-----|-----------:|:--|
| Net loss                                         |     | $                  | (48,879,200 | ) |     | $    |   (945,046 | ) |
| Add:                                             |     |                    |             |   |     |      |            |   |
| Interest expense                                 |     |                    |   1,271,638 |   |     |      |          — |   |
| Income tax expense                               |     |                    |       3,978 |