Shares of Figure Technology Solutions plunged approximately 20% on Friday following its fourth-quarter earnings report. The blockchain lending firm posted revenue of $159.9 million, exceeding analyst expectations, but earnings per share of $0.06 fell short of the estimated $0.18. The company also authorized a $200 million stock buyback program amid a volatile period for publicly traded crypto companies.
Shares of Figure Technology Solutions fell about 20% to $27.12 in Friday morning trading. The decline followed the company’s release of mixed fourth-quarter results the prior day.
For the quarter, Figure posted revenue of $159.9 million, up from $83.9 million a year earlier. Net income was $15.1 million, or $0.06 per diluted share, compared with $5.9 million in the same period of 2024.
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, with Consumer Loan Marketplace volume reaching $2.7 billion during the quarter.
The company also authorized a share repurchase program allowing it to buy back up to $200 million of its stock. Figure began trading on the Nasdaq in September after pricing its initial public offering at $25 per share.
Figure’s post-IPO trajectory mirrors volatility seen across other crypto-linked equities. Shares of crypto exchange Gemini Space Station surged on its Nasdaq debut but have since fallen significantly.
Stablecoin issuer Circle also experienced a volatile debut after upsizing its IPO to $1.05 billion. The stock later reached an all-time high before retracing nearly 70% from that peak.
