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Side-by-side financial comparison of Fold Holdings, Inc. (FLD) and Spire Global, Inc. (SPIR). Click either name above to swap in a different company.
Spire Global, Inc. is the larger business by last-quarter revenue ($15.8M vs $9.1M, roughly 1.7× Fold Holdings, Inc.). Spire Global, Inc. runs the higher net margin — -176.6% vs -379.9%, a 203.3% gap on every dollar of revenue. On growth, Fold Holdings, Inc. posted the faster year-over-year revenue change (8.2% vs -26.9%). Over the past eight quarters, Fold Holdings, Inc.'s revenue compounded faster (36.1% CAGR vs -32.6%).
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.
Spire Global, Inc. is a space-to-cloud data and analytics company that specializes in the tracking of global data sets powered by a large constellation of nanosatellites, such as the tracking of maritime, aviation and weather patterns.
FLD vs SPIR — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $9.1M | $15.8M |
| Net Profit | $-34.7M | $-28.0M |
| Gross Margin | — | 40.2% |
| Operating Margin | -380.0% | -164.1% |
| Net Margin | -379.9% | -176.6% |
| Revenue YoY | 8.2% | -26.9% |
| Net Profit YoY | -7232.4% | 42.7% |
| EPS (diluted) | $-0.02 | $-0.85 |
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 | $9.1M | $15.8M | ||
| Q3 25 | $7.4M | $12.7M | ||
| Q2 25 | $8.2M | $19.2M | ||
| Q1 25 | $7.1M | $23.9M | ||
| Q4 24 | $8.4M | $21.7M | ||
| Q3 24 | $5.2M | $28.6M | ||
| Q2 24 | $5.1M | $25.4M | ||
| Q1 24 | $4.9M | $34.8M |
| Q4 25 | $-34.7M | $-28.0M | ||
| Q3 25 | $554.2K | $-19.7M | ||
| Q2 25 | $13.4M | $119.6M | ||
| Q1 25 | $-48.9M | $-20.7M | ||
| Q4 24 | $486.4K | $-48.8M | ||
| Q3 24 | $-62.3M | $-12.5M | ||
| Q2 24 | $-2.3M | $-16.6M | ||
| Q1 24 | $-945.0K | $-25.5M |
| Q4 25 | — | 40.2% | ||
| Q3 25 | — | 36.6% | ||
| Q2 25 | — | 48.9% | ||
| Q1 25 | — | 36.8% | ||
| Q4 24 | — | 32.4% | ||
| Q3 24 | — | 44.5% | ||
| Q2 24 | — | 43.0% | ||
| Q1 24 | — | 26.5% |
| Q4 25 | -380.0% | -164.1% | ||
| Q3 25 | 7.5% | -166.1% | ||
| Q2 25 | — | -122.7% | ||
| Q1 25 | -689.6% | -106.5% | ||
| Q4 24 | -9.1% | -144.1% | ||
| Q3 24 | -15.3% | -48.0% | ||
| Q2 24 | -12.2% | -48.6% | ||
| Q1 24 | -14.7% | -34.4% |
| Q4 25 | -379.9% | -176.6% | ||
| Q3 25 | 7.5% | -155.3% | ||
| Q2 25 | 164.2% | 623.4% | ||
| Q1 25 | -689.6% | -86.5% | ||
| Q4 24 | 5.8% | -225.2% | ||
| Q3 24 | -1188.7% | -43.7% | ||
| Q2 24 | -45.1% | -65.2% | ||
| Q1 24 | -19.2% | -73.3% |
| Q4 25 | $-0.02 | $-0.85 | ||
| Q3 25 | $0.01 | $-0.61 | ||
| Q2 25 | $0.28 | $3.72 | ||
| Q1 25 | $-1.92 | $-0.77 | ||
| Q4 24 | $0.09 | $-1.93 | ||
| Q3 24 | $-10.68 | $-0.50 | ||
| Q2 24 | $-0.40 | $-0.68 | ||
| Q1 24 | $-0.16 | $-1.17 |
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 | $81.8M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $63.0M | $112.9M |
| Total Assets | $153.5M | $211.0M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $7.7M | $81.8M | ||
| Q3 25 | $6.7M | $96.8M | ||
| Q2 25 | $6.6M | $117.6M | ||
| Q1 25 | $11.7M | $35.9M | ||
| Q4 24 | $18.3M | $19.2M | ||
| Q3 24 | — | $36.6M | ||
| Q2 24 | — | $45.8M | ||
| Q1 24 | — | $63.7M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $103.7M | ||
| Q4 24 | — | $103.1M | ||
| Q3 24 | — | $4.9M | ||
| Q2 24 | — | $4.9M | ||
| Q1 24 | — | $123.1M |
| Q4 25 | $63.0M | $112.9M | ||
| Q3 25 | $94.7M | $133.1M | ||
| Q2 25 | $88.5M | $149.2M | ||
| Q1 25 | $71.9M | $3.7M | ||
| Q4 24 | $-67.8M | $-11.7M | ||
| Q3 24 | $-7.4M | $30.8M | ||
| Q2 24 | $-74.0M | $40.3M | ||
| Q1 24 | $-9.4M | $52.5M |
| Q4 25 | $153.5M | $211.0M | ||
| Q3 25 | $191.0M | $224.3M | ||
| Q2 25 | $182.1M | $239.5M | ||
| Q1 25 | $148.5M | $208.8M | ||
| Q4 24 | $125.7M | $193.6M | ||
| Q3 24 | $52.2M | $224.2M | ||
| Q2 24 | $51.8M | $230.8M | ||
| Q1 24 | $51.5M | $252.3M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 27.92× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 0.16× | ||
| Q2 24 | — | 0.12× | ||
| Q1 24 | — | 2.35× |
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 | $-4.3M |
| Free Cash FlowOCF − Capex | — | $-16.2M |
| FCF MarginFCF / Revenue | — | -102.1% |
| Capex IntensityCapex / Revenue | — | 75.1% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-92.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-16.1M | $-4.3M | ||
| Q3 25 | $-2.5M | $-12.0M | ||
| Q2 25 | $-4.0M | $-35.1M | ||
| Q1 25 | $-5.0M | $-8.4M | ||
| Q4 24 | $-3.3M | $-19.2M | ||
| Q3 24 | $-2.2M | $14.0M | ||
| Q2 24 | $-859.6K | $-4.4M | ||
| Q1 24 | $-354.2K | $-8.8M |
| Q4 25 | — | $-16.2M | ||
| Q3 25 | — | $-20.4M | ||
| Q2 25 | — | $-38.7M | ||
| Q1 25 | — | $-17.3M | ||
| Q4 24 | — | $-24.3M | ||
| Q3 24 | — | $5.1M | ||
| Q2 24 | — | $-9.9M | ||
| Q1 24 | — | $-15.9M |
| Q4 25 | — | -102.1% | ||
| Q3 25 | — | -161.3% | ||
| Q2 25 | — | -201.7% | ||
| Q1 25 | — | -72.6% | ||
| Q4 24 | — | -112.2% | ||
| Q3 24 | — | 17.8% | ||
| Q2 24 | — | -39.0% | ||
| Q1 24 | — | -45.7% |
| Q4 25 | — | 75.1% | ||
| Q3 25 | — | 66.2% | ||
| Q2 25 | — | 18.8% | ||
| Q1 25 | — | 37.3% | ||
| Q4 24 | — | 23.5% | ||
| Q3 24 | — | 31.2% | ||
| Q2 24 | — | 21.8% | ||
| Q1 24 | — | 20.3% |
| Q4 25 | — | — | ||
| Q3 25 | -4.47× | — | ||
| Q2 25 | -0.30× | -0.29× | ||
| Q1 25 | — | — | ||
| Q4 24 | -6.82× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 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% |
SPIR
Segment breakdown not available.
