Shares of Figure Technology Solutions slid sharply after the company reported mixed fourth-quarter results that showed strong top-line growth but earnings below analyst forecasts.
For the quarter ended Dec. 31, Figure posted 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 EPS was $0.06, compared with $0.00 a year earlier and below the $0.18 analysts surveyed by Yahoo Finance had expected on revenue of $157.7 million.
The increase in revenue was driven by heightened lending activity on Figure’s marketplace. Consumer Loan Marketplace volume — the total loans originated and traded on the platform — rose to $2.7 billion in the quarter, up from $1.2 billion a year earlier.
On an annual basis, Figure reported 2025 net income of $134.3 million, up from $19.9 million in 2024, and full-year revenue of $506.9 million versus $340.9 million the prior year. The company also authorized a share repurchase program of up to $200 million over the next 12 months.
Investors reacted negatively to the earnings miss, sending Figure’s stock down roughly 20% to about $27.12 in morning trading.
Figure began trading on the Nasdaq in September after an IPO priced at $25 per share that raised nearly $800 million. The stock jumped more than 24% on its first trading day and later climbed toward $74 in January before pulling back — a trajectory similar to several crypto-linked listings that rallied during late 2025 and then ceded gains amid a broader market retreat.
For perspective, other recent crypto-related listings have shown volatile post-IPO paths: Gemini Space Station (GEMI) surged on its Sept. 12 debut after pricing at $28, briefly topping $40 before falling to low single digits by the time of reporting. Stablecoin issuer Circle, which completed a large IPO in June, saw its shares spike on the first trading day and later reach an all-time high in May before retracing a substantial portion of those gains.
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