Figure Technology Stock Dips After Mixed Q4 Results

Figure Technology Solutions Inc (NASDAQ:FIGR) shares are trading lower on Wednesday after the blockchain-native capital marketplace reported mixed fourth-quarter financial results, with earnings per share missing estimates despite a revenue beat. Figure Technology shares are approaching critical lows. What’s pressuring FIGR? Keefe, Bruyette & Woods and Needham also lowered their respective price targets on the stock. Revenue Surges Despite Earnings Miss Figure Technology reported quarterly earnings of 6 cents per share, which missed the analyst consensus estimate of 8 cents. However, the company reported quarterly sales of $159.913 million, which beat the analyst consensus estimate of $151.379 million. Net revenue increased 91% year-over-year, with adjusted net revenue reaching $158 million, up 106% from the fourth-quarter of 2024. Strong Volume And Profitability Growth Despite the bottom-line miss, Figure Technology delivered impressive operational performance. Consumer Loan Marketplace volume was $2.7 billion in the quarter, a 131% increase from the prior year. This included Figure Connect volume of $1.5 billion, up from $1.1 billion in the third-quarter of 2025. Net income increased 156% year-over-year to $15 million, with net income margin reaching 9.4%, up 2 percentage points year-over-year. Adjusted EBITDA increased 426% year-over-year to $81 million, with adjusted EBITDA margin reaching 51.6%, up 31 percentage points year-over-year. “We closed the year with strong fourth-quarter results, with triple-digit year-over-year growth in Consumer Loan Marketplace volume, increased adoption of Figure Connect, and expanding activity within our blockchain ecosystem,” said Michael Tannenbaum, CEO. “This quarter’s strong results demonstrate both the industry tailwinds and our operational execution as we modernize capital markets with blockchain.” What Analysts Are Saying Several leading analysts have recently maintained positive ratings for Figure, despite lowering target prices. On Feb. 27, both Keefe, Bruyette & Woods and Needham maintained their bullish outlook, with Outperform and Buy ratings respectively. However, they both significantly reduced their price targets, from $62.00 to $55.00 and from $71.00 to $55.00 respectively. Earlier in February and January, both Needham and Piper Sandler reiterated their positive stance on Figure. Needham sustained its Buy rating and a $71.00 target on Feb. 5, while Piper Sandler maintained an Overweight rating and increased the target from $55.00 to $75.00 on Jan. 14. Bernstein also maintained an Outperform rating on Jan. 13, raising the target from $54.00 to $72.00. FIGR Price Action: Figure shares were down 21.09% at $26.87 at the time of publication on Friday. The stock is trading at a new 52-week low, according to Benzinga Pro. Image: Shutterstock