Figure Technology Solutions Inc (NASDAQ:FIGR) reported financial results for the fourth quarter and full year of 2025 after the market close on Wednesday, February 26. The blockchain-native lending and capital markets platform delivered revenue that modestly exceeded analyst expectations, while its earnings per share fell short of consensus estimates. The company also announced a new $200 million share repurchase program.
Quarterly Results vs. Estimates
The company reported fourth-quarter net revenue of $159.9 million, representing a 91% increase year-over-year. On an adjusted basis, which excludes certain non-cash valuation changes, net revenue was $157.6 million. This figure came in slightly above the analyst consensus estimate of $154.4 million.
On the bottom line, Figure reported diluted earnings per share (EPS) of $0.06 for the quarter. This result missed the Wall Street estimate of $0.14 per share. The earnings shortfall occurred despite a significant 156% year-over-year jump in net income, which reached $15.1 million.
Market Reaction and Full-Year Context
Following the earnings release, shares of Figure Technology Solutions were trading down approximately 6.6% in after-hours activity. This negative price action appears to be a direct reaction to the earnings miss, overshadowing the revenue beat and strong top-line growth.
The quarterly performance capped off a transformative full year for the company. For the full year 2025, Figure reported net income of $134.3 million, a dramatic increase of 574% compared to 2024. Adjusted EBITDA for the year more than doubled to $251.2 million, with the corresponding margin expanding to 48.8%.
Operational Highlights and Strategic Moves
Beyond the financial figures, the earnings release highlighted several key operational achievements:
- Explosive Marketplace Growth: The core Consumer Loan Marketplace processed $2.7 billion in volume during Q4, a 131% increase from the prior year. A significant portion of this, $1.5 billion, flowed through the newer Figure Connect platform for trading third-party loans.
- Diversification and Expansion: The company is successfully expanding beyond its home equity line of credit (HELOC) roots. New product categories, including crypto-backed loans and small business loans, contributed $97 million in volume for the quarter. A recently announced strategic partnership with Agora Data aims to bring auto loans onto the Figure Connect marketplace.
- Blockchain Initiatives Advance: The company highlighted growth in its digital asset ecosystem, including the circulation of its yield-bearing stablecoin, $YLDS, and the launch of OPEN, an on-chain public equity network.
Capital Return and Forward Outlook
A notable announcement accompanying the earnings was the authorization of a new $200 million share repurchase program. The board-approved plan allows the company to buy back its Class A and Blockchain common stock over the next 12 months, signaling management's confidence in the company's financial position and future.
The press release did not provide specific quantitative financial guidance for the coming quarters or full year. Analyst estimates compiled prior to the earnings call project first-quarter 2026 revenue of approximately $148.6 million and full-year 2026 revenue of $694.2 million. Investors will be listening to management's commentary for signals on whether the company's growth trajectory can meet or exceed these expectations.
For a detailed breakdown of historical earnings, future estimates, and analyst projections, you can review the data here.
Disclaimer: This article is for informational purposes only and does not constitute financial advice, a recommendation, or an offer to buy or sell any securities. Investing carries risks, including the potential loss of principal.
