Figure Technology stock crashes 20% following mixed Q4 earnings
The blockchain-based lending platform beat revenue estimates but fell short on earnings, even as annual profit reached $134 million.
Shares of Figure Technology Solutions, a blockchain-based consumer lending marketplace, plunged on Friday after the company reported mixed fourth-quarter results the prior day, signaling a more difficult operating environment even as revenue continued to climb.
For the quarter ended Dec. 31, the company posted revenue of $159.9 million, up from $83.9 million a year earlier, and net income of $15.1 million, compared with $5.9 million in the same period of 2024. Earnings were $0.06 per diluted share, compared to zero a year earlier.
Analysts polled by Yahoo Finance expected earnings of $0.18 per share on revenue of $157.7 million.