Shares of Figure Technology Solutions, a blockchain-based consumer lending marketplace, fell on Friday after the company reported mixed fourth-quarter results a day earlier, pointing to a more challenging environment even as earnings continued to rise.
For the quarter ended Dec. 31, the company posted revenue of $159.9 million, up from $83.9 million a year ago, and net income of $15.1 million, compared with $5.9 million in the same period in 2024. Earnings per diluted share were $0.06, compared to zero a year ago.
Analysts polled by Yahoo Finance had expected earnings per share of $0.18 on revenue of $157.7 million.
The development took place due to the increase in lending activity. The size of the consumer loan market, which reflects the sum of loans originated and traded on the platform, reached $2.7 billion in the quarter, compared to $1.2 billion a year earlier.
For the full year, net income was $134.3 million, up from $19.9 million in 2024, while revenue rose to $506.9 million from $340.9 million a year earlier.
The company has also authorized a share repurchase program that will allow it to buy back up to $200 million of its stock over the next 12 months.
Shares fell nearly 20% to $27.12 in morning trading Friday after the earnings release.
related to: Figure Technology Unveils Blockchain Platform for Direct Equity Lending: Report
Crypto stocks surged in 2025 before reversing
The stock went public on the Nasdaq in September after pricing at $25 a share, raising about $800 million. Shares surged more than 24% in their first day of trading and hit a high of $74 before retreating in January.
The post-IPO trajectory The figure mirrors the volatility associated with other crypto stocks, many of which rose sharply in late 2025 before surrendering gains amid the broader crypto market pullback.
Shares of crypto-exchange Gemini Space Station (GEMI) soared to $28 a share during its Nasdaq debut on September 12 after pricing its IPO. The stock briefly topped $40 on its first day of trading, but has since fallen to around $5.94 as of this writing.
Stablecoin issuer Circle also experienced a shaky debut. The company closed on June 5 after it raised its IPO to $1.05 billion and sold 34 million shares at $31, down from an initial target of 24 million shares sold at $24 to $26.
In its first day of trading, Circle shares jumped 167% to open at $69, and rose 235% during the day to close at $82. Shares later hit $263.45 on May 25, and are up nearly 70% to $83, according to Yahoo Finance.
Magazine: Would Bitcoin Really Be $200K If Not For Jane Street? Trade secret
