Shares in blockchain-based consumer finance marketplace Figure Technology Solutions fell sharply on Friday after the company reported mixed fourth-quarter results a day earlier, suggesting an even tougher operating environment even as revenue continues to rise.
For the quarter ended December 31, the company had revenue of $159.9 million (compared to $83.9 million in the same period last year) and net income of $15.1 million (compared to $5.9 million in the same period in 2024). Earnings were $0.06 per diluted share (compared to zero in the same period last year).
Analyst estimates compiled by Yahoo Finance were for earnings of $0.18 per share and revenue of $157.7 million.
Growth was driven by increased lending activity. Consumer loan market volume, reflecting the total amount of loans originated and traded on the platform, reached $2.7 billion in the quarter, up from $1.2 billion in the prior year period.
For the full year, net income increased to $134.3 million from $19.9 million in 2024, and sales reached $506.9 million from $340.9 million in the year-ago period.
The company also approved a stock repurchase program that will allow it to buy back up to $200 million of its own shares over the next 12 months.
Shares fell about 20% to $27.12 in Friday morning trading following the earnings release.
sauce: Yahoo Finance
Related: Figure Technology Announces Blockchain Platform for Direct Stock Lending: Report
Cryptocurrency stocks soared in 2025, then fell back
Figure began trading on the Nasdaq in September after pricing its initial public offering at $25 per share, raising nearly $800 million. Shares rose more than 24% on the first day of trading, peaking at around $74 in January, before falling back.
Figure’s post-IPO trajectory mirrors the volatility seen across other crypto-related stocks, many of which rebounded sharply in late 2025 and then abandoned gains amid a broader crypto market pullback.
Cryptocurrency exchange Gemini Space Station (GEMI) stock price skyrocketed on its Nasdaq debut on September 12 after an IPO price of $28 per share. The stock price briefly peaked above $40 on the first day of trading, but has since fallen to around $5.94 at the time of writing.
Gemini space station inventory. sauce: Yahoo Finance
Stablecoin issuer Circle also experienced a rocky debut. The company increased its IPO size to $1.05 billion, surpassing its initial target of 24 million shares priced between $24 and $26, and went public on June 5 after selling 34 million shares at $31 per share.
On its first day of trading, Circle stock soared 167%, opening at $69 and rising 235% during the day, closing at $82. The stock then reached an all-time high of $263.45 on May 25, before rebounding about 70% to about $83, according to Yahoo Finance data.
sauce: Yahoo Finance
magazine: Would Bitcoin really have been worth $200,000 without Jane Street? Trade Secrets
