Revenue Beats, Earnings Per Share Miss, Stock Falls

Shares of Figure Technology Solutions, a blockchain-based consumer lending marketplace, plunged on Friday after the company reported mixed fourth-quarter results the prior day, signaling a more difficult operating environment even as revenue continued to climb.

For the quarter ended Dec. 31, the company posted revenue of $159.9 million, up from $83.9 million a year earlier, and net income of $15.1 million, compared with $5.9 million in the same period of 2024. Earnings were $0.06 per diluted share, compared to zero a year earlier.

Analysts polled by Yahoo Finance expected earnings of $0.18 per share on revenue of $157.7 million.

Growth was driven by increased lending activity. Consumer Loan Marketplace volume, which reflects total loans originated and traded on the platform, reached $2.7 billion during the quarter, up from $1.2 billion a year earlier.

For the full year, net income totaled $134.3 million, up from $19.9 million in 2024, while revenue reached $506.9 million, compared with $340.9 million a year earlier.

The company also authorized a share repurchase program allowing it to buy back up to $200 million of its stock over the next 12 months.

Shares fell about 20% to $27.12 in morning trading on Friday following the earnings release.

Related: Figure Technology unveils blockchain platform for direct stock lending: Report

Crypto stocks surged in 2025 before retracing

Figure began trading on the Nasdaq in September after pricing its initial public offering at $25 per share, raising nearly $800 million. The stock rose more than 24% on its first day of trading and climbed to a high near $74 in January, before retreating.

Figure’s post-IPO trajectory mirrors volatility seen across other crypto-linked equities, many of which rallied sharply in late 2025 before surrendering gains amid the broader crypto market pullback.

Shares of crypto exchange Gemini Space Station (GEMI) surged on its Nasdaq debut on Sept. 12 after pricing its IPO at $28 per share. The stock briefly topped $40 on its first day of trading, but has since fallen to around $5.94, at the time of writing.

Stablecoin issuer Circle also experienced a volatile debut. The company went public on June 5, after upsizing its IPO to $1.05 billion, selling 34 million shares at $31 each, above its initial target of 24 million shares priced between $24 and $26.

In its first day of trading, Circle’s shares surged 167%, opening at $69 and climbing as much as 235% intraday before closing at $82. The stock later reached an all-time high of $263.45 on May 25, then retraced nearly 70% to around $83, per Yahoo Finance data.

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