Shares of blockchain-focused fintech firm Figure Technology Solutions (Nasdaq: FIGR) rose approximately 2-3.8% in early trading on Friday, reaching around $34.50 to $35.37, following the release of preliminary fourth-quarter results and the announcement of a secondary offering of blockchain-native shares. The stock has largely returned to levels seen shortly after its September 2025 IPO, which debuted at $25 and closed near $31 on its first trading day.
The company expects Q4 2026 revenue to be between $158 million and $162 million, surpassing Wall Street estimates of $154 million. Adjusted EBITDA is projected to be in the range of $80 million to $83 million, aligning with analyst forecasts. A key growth driver was the consumer loan marketplace, which saw quarterly volumes surge 131% year-over-year.
Concurrently, Figure launched a secondary stock offering where existing shareholders could sell up to 4.23 million blockchain-native shares. Unlike traditional offerings, these securities will be traded exclusively on Figure's own blockchain-based Alternative Trading System (ATS), bypassing traditional exchanges like Nasdaq. This enables 24/7 trading and integrates DeFi technology, allowing holders to lend or borrow against their assets directly on-chain, potentially displacing traditional prime brokers. The sale price will be set after the New York market close on February 17.
In a related move, the company plans to repurchase up to $30 million of its stock from underwriters using cash on hand. VanEck Head of Digital Asset Research Matthew Sigel described this buyback as "small but symbolic" support for the shares.
Figure, co-founded by former SoFi CEO Mike Cagney, is positioning itself as a major player in blockchain-based credit and capital markets. While its on-chain credit marketplace currently generates most revenue, newer initiatives like the OPEN network—for issuing and trading equities directly on blockchain—are viewed as longer-term expansion opportunities. The company is scheduled to host an earnings call later this month to provide finalized Q4 results and an updated outlook.
