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Side-by-side financial comparison of Fold Holdings, Inc. (FLD) and EVERSPIN TECHNOLOGIES INC. (MRAM). Click either name above to swap in a different company.
EVERSPIN TECHNOLOGIES INC. is the larger business by last-quarter revenue ($14.9M vs $9.1M, roughly 1.6× Fold Holdings, Inc.). EVERSPIN TECHNOLOGIES INC. runs the higher net margin — -2.0% vs -379.9%, a 377.9% gap on every dollar of revenue. On growth, EVERSPIN TECHNOLOGIES INC. posted the faster year-over-year revenue change (13.2% vs 8.2%). Over the past eight quarters, Fold Holdings, Inc.'s revenue compounded faster (36.1% CAGR vs 18.2%).
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.
Everspin Technologies, Inc. is a publicly traded semiconductor company headquartered in Chandler, Arizona, United States. It develops and manufactures discrete magnetoresistive RAM or magnetoresistive random-access memory (MRAM) products, including Toggle MRAM and Spin-Transfer Torque MRAM (STT-MRAM) product families. It also licenses its technology for use in embedded MRAM (eMRAM) applications, magnetic sensor applications as well as performs backend foundry services for eMRAM.
FLD vs MRAM — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $9.1M | $14.9M |
| Net Profit | $-34.7M | $-296.0K |
| Gross Margin | — | 52.7% |
| Operating Margin | -380.0% | 29.0% |
| Net Margin | -379.9% | -2.0% |
| Revenue YoY | 8.2% | 13.2% |
| Net Profit YoY | -7232.4% | — |
| EPS (diluted) | $-0.02 | $-0.01 |
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.
| Q1 26 | — | $14.9M | ||
| Q4 25 | $9.1M | $14.8M | ||
| Q3 25 | $7.4M | $14.1M | ||
| Q2 25 | $8.2M | $13.2M | ||
| Q1 25 | $7.1M | $13.1M | ||
| Q4 24 | $8.4M | $13.2M | ||
| Q3 24 | $5.2M | $12.1M | ||
| Q2 24 | $5.1M | $10.6M |
| Q1 26 | — | $-296.0K | ||
| Q4 25 | $-34.7M | $1.2M | ||
| Q3 25 | $554.2K | $54.0K | ||
| Q2 25 | $13.4M | $-670.0K | ||
| Q1 25 | $-48.9M | $-1.2M | ||
| Q4 24 | $486.4K | $1.2M | ||
| Q3 24 | $-62.3M | $2.3M | ||
| Q2 24 | $-2.3M | $-2.5M |
| Q1 26 | — | 52.7% | ||
| Q4 25 | — | 50.8% | ||
| Q3 25 | — | 51.3% | ||
| Q2 25 | — | 51.3% | ||
| Q1 25 | — | 51.4% | ||
| Q4 24 | — | 51.3% | ||
| Q3 24 | — | 49.2% | ||
| Q2 24 | — | 49.0% |
| Q1 26 | — | 29.0% | ||
| Q4 25 | -380.0% | -7.2% | ||
| Q3 25 | 7.5% | -11.0% | ||
| Q2 25 | — | -14.9% | ||
| Q1 25 | -689.6% | -14.7% | ||
| Q4 24 | -9.1% | -11.8% | ||
| Q3 24 | -15.3% | -17.5% | ||
| Q2 24 | -12.2% | -26.5% |
| Q1 26 | — | -2.0% | ||
| Q4 25 | -379.9% | 8.1% | ||
| Q3 25 | 7.5% | 0.4% | ||
| Q2 25 | 164.2% | -5.1% | ||
| Q1 25 | -689.6% | -8.9% | ||
| Q4 24 | 5.8% | 9.2% | ||
| Q3 24 | -1188.7% | 18.8% | ||
| Q2 24 | -45.1% | -23.5% |
| Q1 26 | — | $-0.01 | ||
| Q4 25 | $-0.02 | $0.05 | ||
| Q3 25 | $0.01 | $0.00 | ||
| Q2 25 | $0.28 | $-0.03 | ||
| Q1 25 | $-1.92 | $-0.05 | ||
| Q4 24 | $0.09 | $0.07 | ||
| Q3 24 | $-10.68 | $0.10 | ||
| Q2 24 | $-0.40 | $-0.12 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $7.7M | $40.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $63.0M | $70.2M |
| Total Assets | $153.5M | $83.2M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $40.5M | ||
| Q4 25 | $7.7M | $44.5M | ||
| Q3 25 | $6.7M | $45.3M | ||
| Q2 25 | $6.6M | $45.0M | ||
| Q1 25 | $11.7M | $42.2M | ||
| Q4 24 | $18.3M | $42.1M | ||
| Q3 24 | — | $39.6M | ||
| Q2 24 | — | $36.8M |
| Q1 26 | — | $70.2M | ||
| Q4 25 | $63.0M | $68.9M | ||
| Q3 25 | $94.7M | $65.8M | ||
| Q2 25 | $88.5M | $64.1M | ||
| Q1 25 | $71.9M | $63.0M | ||
| Q4 24 | $-67.8M | $62.6M | ||
| Q3 24 | $-7.4M | $59.3M | ||
| Q2 24 | $-74.0M | $55.4M |
| Q1 26 | — | $83.2M | ||
| Q4 25 | $153.5M | $84.6M | ||
| Q3 25 | $191.0M | $80.3M | ||
| Q2 25 | $182.1M | $78.9M | ||
| Q1 25 | $148.5M | $80.2M | ||
| Q4 24 | $125.7M | $77.8M | ||
| Q3 24 | $52.2M | $72.6M | ||
| Q2 24 | $51.8M | $64.6M |
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 | $-16.1M | $570.0K |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $570.0K | ||
| Q4 25 | $-16.1M | $2.6M | ||
| Q3 25 | $-2.5M | $881.0K | ||
| Q2 25 | $-4.0M | $5.0M | ||
| Q1 25 | $-5.0M | $1.4M | ||
| Q4 24 | $-3.3M | $3.8M | ||
| Q3 24 | $-2.2M | $2.8M | ||
| Q2 24 | $-859.6K | $1.7M |
| Q1 26 | — | — | ||
| Q4 25 | — | $-975.0K | ||
| Q3 25 | — | $543.0K | ||
| Q2 25 | — | $3.0M | ||
| Q1 25 | — | $527.0K | ||
| Q4 24 | — | $2.1M | ||
| Q3 24 | — | $2.8M | ||
| Q2 24 | — | $1.7M |
| Q1 26 | — | — | ||
| Q4 25 | — | -6.6% | ||
| Q3 25 | — | 3.9% | ||
| Q2 25 | — | 22.9% | ||
| Q1 25 | — | 4.0% | ||
| Q4 24 | — | 15.8% | ||
| Q3 24 | — | 22.9% | ||
| Q2 24 | — | 15.9% |
| Q1 26 | — | — | ||
| Q4 25 | — | 24.3% | ||
| Q3 25 | — | 2.4% | ||
| Q2 25 | — | 15.1% | ||
| Q1 25 | — | 6.9% | ||
| Q4 24 | — | 13.2% | ||
| Q3 24 | — | 0.5% | ||
| Q2 24 | — | 0.3% |
| Q1 26 | — | — | ||
| Q4 25 | — | 2.19× | ||
| Q3 25 | -4.47× | 16.31× | ||
| Q2 25 | -0.30× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | -6.82× | 3.16× | ||
| Q3 24 | — | 1.25× | ||
| Q2 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FLD
| Banking And Payment Revenues | $8.4M | 92% |
| Other | $706.0K | 8% |
MRAM
| Product sales | $14.1M | 95% |
| Licensing, royalty, patent, engineering services and other revenue | $772.0K | 5% |
