TLDR
- Figure Technology Solutions (FIGR) anticipates Q4 adjusted net revenue to range from $155.5 million to $160.5 million, surpassing the $154.4 million consensus
- Full-year 2025 adjusted net revenue is expected to lie between $512.5 million and $517.5 million, contrasting with analysts’ prediction of $508.9 million
- The stock rose by 3.60% to $35.30 after the release of preliminary results
- The Consumer Loan Marketplace experienced triple-digit year-over-year growth along with expanding blockchain activities
- The company is initiating a secondary offering of 4.23 million shares and planning a $30 million share repurchase
Figure Technology Solutions (FIGR) stock rose 3.60% to $35.30 on Friday after unveiling preliminary fourth-quarter results that outperformed Wall Street projections.
The blockchain-oriented fintech firm projected Q4 adjusted net revenue between $155.5 million and $160.5 million, which exceeded the consensus estimate of $154.4 million.
Essentially just released their Q4 results in the latest filing Revenue up sequentially from Q3 by 2-6m and ~100% YoY. Q4 is seasonally weak for them. Net income decreased from Q3 because of one-time IPO-related costs. Also, Q3 was artificially inflated due to a tax benefit.
— Aayush Shah (@aayushtrades)
Full-year 2025 adjusted net revenue is expected to reach between $512.5 million and $517.5 million, whereas analysts had forecasted $508.9 million.
Triple-Digit Marketplace Growth
CEO Michael Tannenbaum highlighted several performance drivers in the preliminary report. ‘We achieved triple-digit year-over-year growth in Consumer Loan Marketplace volume, increased adoption of Figure Connect, and observed expanding activity within our blockchain ecosystem,’ he remarked.
The Consumer Loan Marketplace exhibited the most robust expansion. Triple-digit percentage growth represented a significant acceleration from previous periods.
Figure Connect, the company’s blockchain infrastructure platform, also witnessed increasing adoption. Activity rose across tokenized assets and on-chain marketplaces.
It now collaborates with over 200 partners. The platform has originated more than $22 billion in home equity loans since its launch.
Q4 adjusted EBITDA is projected to range from $80.0 million to $83.0 million. Full-year 2025 adjusted EBITDA is expected to be between $249.0 million and $252.0 million.
Secondary Offering Details
Figure announced plans for a secondary public offering. The company will offer up to 4.23 million shares of series A blockchain common stock.
Subsequent to the offering, it intends to repurchase up to $30 million worth of class A shares from underwriters. The repurchase price will match the amount underwriters pay selling stockholders.
The buyback will be financed with existing cash reserves. The transaction follows Figure’s 2025 initial public offering.
The company filed a Form S-1 containing these preliminary operating results. Final audited figures are still subject to change.
Looking Ahead
Tannenbaum outlined the company’s growth priorities. Figure plans to expand its partner network and enhance marketplace liquidity.
The company will continue scaling its blockchain infrastructure. Management perceives increasing demand for blockchain-native capital markets solutions.
Figure uses non-GAAP metrics such as Adjusted Net Revenue and Adjusted EBITDA to track performance. Detailed reconciliations will appear in upcoming SEC filings.
The company noted higher costs associated with being newly public. Professional services and insurance expenses increased as anticipated.
Figure will host its earnings call on February 26, 2026. Management will discuss final audited results and address investor questions.
The preliminary figures confirm Figure’s strategy to modernize capital markets via blockchain technology. The platform combines tokenization, smart contracts, and distributed ledger infrastructure to streamline transactions.