Shares of Figure Technology Solutions, a blockchain-based consumer lending marketplace, tumbled Friday after the company reported mixed fourth-quarter results that signaled a tougher operating backdrop despite rising revenue.
For the quarter ended Dec. 31, Figure reported revenue of $159.9 million, up from $83.9 million a year earlier, and net income of $15.1 million, versus $5.9 million in the prior-year quarter. Diluted earnings per share were $0.06, compared with $0.00 a year earlier. Analysts polled by Yahoo Finance had expected $0.18 per share on revenue of $157.7 million.
Growth was driven by higher lending activity: Consumer Loan Marketplace volume — total loans originated and traded on the platform — reached $2.7 billion in the quarter, up from $1.2 billion a year earlier.
For the full year, Figure reported net income of $134.3 million, up from $19.9 million in 2024, and revenue of $506.9 million, versus $340.9 million a year earlier. The company also authorized a share repurchase program to buy up to $200 million of stock over the next 12 months.
Following the release, Figure shares fell about 20% to $27.12 in morning trading.
Figure began trading on the Nasdaq in September after pricing its IPO at $25 per share and raising nearly $800 million. The stock jumped more than 24% on its first trading day and climbed to a high near $74 in January before retreating — a pattern similar to other crypto-linked equities that rallied in late 2025 and later gave up gains amid a broader crypto pullback.
For context, Gemini Space Station (GEMI) surged on its Sept. 12 Nasdaq debut after pricing at $28, briefly topping $40 before sliding to around $5.94 at the time of reporting. Stablecoin issuer Circle went public June 5 after upsizing its IPO to $1.05 billion, selling 34 million shares at $31. Circle’s shares jumped 167% on their first trading day, opened at $69 and reached an intraday peak before later hitting an all-time high of $263.45 on May 25 and retracing nearly 70% to about $83.
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