Figure Technology Solutions Posts 156% Q4 Profit Jump, Bernstein Reaffirms $72 Target

Shares of Figure Technology Solutions drew renewed analyst support after the company reported a sharp rise in fourth-quarter profitability. The firm posted $159.9 million in net revenue for Q4 2025, landing within previously guided expectations.

Net income climbed 156% year over year to $15.1 million, compared with $5.9 million in the same period a year earlier. Adjusted EBITDA reached $81.3 million, representing a 52% margin. Loan marketplace volume totaled $2.7 billion for the quarter, up 8% sequentially despite typical seasonal softness.

Analysts at Bernstein maintained an outperform rating and a $72 price target, noting that recent share price weakness contrasts with improving fundamentals.

Tokenized Marketplace Strategy Gains Momentum

The company’s blockchain focused lending infrastructure continues to expand. Figure reported that Connect volume accounted for 54% of Consumer Loan Marketplace activity in Q4, up from 46% in the prior quarter, reflecting growing adoption of its tokenization model.

Beyond home equity lending, the firm scaled additional categories, including debt-service coverage ratio loans and small-business financing. It also authorized a $200 million share repurchase program over the next year.

Management said partnerships and AI driven loan origination initiatives are intended to broaden asset flows into its blockchain-based marketplace ecosystem.

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