vs
Side-by-side financial comparison of CSP INC (CSPI) and Fold Holdings, Inc. (FLD). Click either name above to swap in a different company.
CSP INC is the larger business by last-quarter revenue ($12.0M vs $9.1M, roughly 1.3× Fold Holdings, Inc.). CSP INC runs the higher net margin — 0.8% vs -379.9%, a 380.7% gap on every dollar of revenue. On growth, Fold Holdings, Inc. posted the faster year-over-year revenue change (8.2% vs -23.2%). Over the past eight quarters, Fold Holdings, Inc.'s revenue compounded faster (36.1% CAGR vs -6.3%).
CSP Inc. is a U.S.-based technology firm offering cybersecurity solutions, managed IT services, high-performance computing systems, and IT consulting support. It serves enterprises across healthcare, finance, manufacturing, and public sectors in North America and select global markets.
Fold Holdings, Inc. is a U.S.-based fintech firm specializing in crypto-integrated consumer financial products. Its core offerings include a rewards debit card that provides Bitcoin and other cryptocurrency cashback on routine purchases, alongside user-friendly digital wallet tools for secure crypto storage, serving primarily the North American consumer market.
CSPI vs FLD — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $12.0M | $9.1M |
| Net Profit | $91.0K | $-34.7M |
| Gross Margin | 39.3% | — |
| Operating Margin | -0.9% | -380.0% |
| Net Margin | 0.8% | -379.9% |
| Revenue YoY | -23.2% | 8.2% |
| Net Profit YoY | -80.7% | -7232.4% |
| EPS (diluted) | $0.01 | $-0.02 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $12.0M | $9.1M | ||
| Q3 25 | $14.5M | $7.4M | ||
| Q2 25 | $15.4M | $8.2M | ||
| Q1 25 | $13.1M | $7.1M | ||
| Q4 24 | $15.7M | $8.4M | ||
| Q3 24 | $13.0M | $5.2M | ||
| Q2 24 | $13.1M | $5.1M | ||
| Q1 24 | $13.7M | $4.9M |
| Q4 25 | $91.0K | $-34.7M | ||
| Q3 25 | $-191.0K | $554.2K | ||
| Q2 25 | $-264.0K | $13.4M | ||
| Q1 25 | $-108.0K | $-48.9M | ||
| Q4 24 | $472.0K | $486.4K | ||
| Q3 24 | $-1.7M | $-62.3M | ||
| Q2 24 | $-185.0K | $-2.3M | ||
| Q1 24 | $1.6M | $-945.0K |
| Q4 25 | 39.3% | — | ||
| Q3 25 | 36.6% | — | ||
| Q2 25 | 28.8% | — | ||
| Q1 25 | 32.0% | — | ||
| Q4 24 | 29.1% | — | ||
| Q3 24 | 28.4% | — | ||
| Q2 24 | 35.0% | — | ||
| Q1 24 | 47.3% | — |
| Q4 25 | -0.9% | -380.0% | ||
| Q3 25 | -3.7% | 7.5% | ||
| Q2 25 | -7.9% | — | ||
| Q1 25 | -7.6% | -689.6% | ||
| Q4 24 | -2.3% | -9.1% | ||
| Q3 24 | -15.7% | -15.3% | ||
| Q2 24 | -5.5% | -12.2% | ||
| Q1 24 | 9.0% | -14.7% |
| Q4 25 | 0.8% | -379.9% | ||
| Q3 25 | -1.3% | 7.5% | ||
| Q2 25 | -1.7% | 164.2% | ||
| Q1 25 | -0.8% | -689.6% | ||
| Q4 24 | 3.0% | 5.8% | ||
| Q3 24 | -12.7% | -1188.7% | ||
| Q2 24 | -1.4% | -45.1% | ||
| Q1 24 | 11.6% | -19.2% |
| Q4 25 | $0.01 | $-0.02 | ||
| Q3 25 | $-0.02 | $0.01 | ||
| Q2 25 | $-0.03 | $0.28 | ||
| Q1 25 | $-0.01 | $-1.92 | ||
| Q4 24 | $0.05 | $0.09 | ||
| Q3 24 | $-0.17 | $-10.68 | ||
| Q2 24 | $-0.02 | $-0.40 | ||
| Q1 24 | $0.16 | $-0.16 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $24.9M | $7.7M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $44.8M | $63.0M |
| Total Assets | $69.2M | $153.5M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $24.9M | $7.7M | ||
| Q3 25 | $27.4M | $6.7M | ||
| Q2 25 | $26.3M | $6.6M | ||
| Q1 25 | $29.5M | $11.7M | ||
| Q4 24 | $30.7M | $18.3M | ||
| Q3 24 | $30.6M | — | ||
| Q2 24 | $28.9M | — | ||
| Q1 24 | $27.1M | — |
| Q4 25 | $44.8M | $63.0M | ||
| Q3 25 | $44.6M | $94.7M | ||
| Q2 25 | $47.5M | $88.5M | ||
| Q1 25 | $47.5M | $71.9M | ||
| Q4 24 | $47.5M | $-67.8M | ||
| Q3 24 | $47.3M | $-7.4M | ||
| Q2 24 | $48.1M | $-74.0M | ||
| Q1 24 | $48.2M | $-9.4M |
| Q4 25 | $69.2M | $153.5M | ||
| Q3 25 | $71.2M | $191.0M | ||
| Q2 25 | $66.8M | $182.1M | ||
| Q1 25 | $67.1M | $148.5M | ||
| Q4 24 | $67.5M | $125.7M | ||
| Q3 24 | $69.4M | $52.2M | ||
| Q2 24 | $66.8M | $51.8M | ||
| Q1 24 | $64.2M | $51.5M |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-2.9M | $-16.1M |
| Free Cash FlowOCF − Capex | $-3.0M | — |
| FCF MarginFCF / Revenue | -25.1% | — |
| Capex IntensityCapex / Revenue | 0.9% | — |
| Cash ConversionOCF / Net Profit | -32.04× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-2.8M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-2.9M | $-16.1M | ||
| Q3 25 | $1.9M | $-2.5M | ||
| Q2 25 | $-3.3M | $-4.0M | ||
| Q1 25 | $1.9M | $-5.0M | ||
| Q4 24 | $1.7M | $-3.3M | ||
| Q3 24 | $-1.5M | $-2.2M | ||
| Q2 24 | $2.4M | $-859.6K | ||
| Q1 24 | $1.7M | $-354.2K |
| Q4 25 | $-3.0M | — | ||
| Q3 25 | $1.7M | — | ||
| Q2 25 | $-3.3M | — | ||
| Q1 25 | $1.9M | — | ||
| Q4 24 | $1.7M | — | ||
| Q3 24 | $-1.5M | — | ||
| Q2 24 | $2.4M | — | ||
| Q1 24 | $1.6M | — |
| Q4 25 | -25.1% | — | ||
| Q3 25 | 11.5% | — | ||
| Q2 25 | -21.7% | — | ||
| Q1 25 | 14.5% | — | ||
| Q4 24 | 10.8% | — | ||
| Q3 24 | -11.7% | — | ||
| Q2 24 | 17.9% | — | ||
| Q1 24 | 11.9% | — |
| Q4 25 | 0.9% | — | ||
| Q3 25 | 1.6% | — | ||
| Q2 25 | 0.4% | — | ||
| Q1 25 | 0.1% | — | ||
| Q4 24 | 0.3% | — | ||
| Q3 24 | 0.1% | — | ||
| Q2 24 | 0.3% | — | ||
| Q1 24 | 0.1% | — |
| Q4 25 | -32.04× | — | ||
| Q3 25 | — | -4.47× | ||
| Q2 25 | — | -0.30× | ||
| Q1 25 | — | — | ||
| Q4 24 | 3.69× | -6.82× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 1.04× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CSPI
| Products | $6.7M | 56% |
| Services | $5.3M | 44% |
FLD
| Banking And Payment Revenues | $8.4M | 92% |
| Other | $706.0K | 8% |
