Overview
- Q4 marketplace volume reached about $2.7 billion, driving net revenue of $159.9 million and earnings of roughly $15.1–$15.2 million.
- Earnings declined from Q3, which management tied to one-time business-model changes, seasonal factors and public-company expenses, yet rose 156% year over year.
- Full-year 2025 net revenue was $506.9 million with net income of $134.3 million as partner count rose to 307 and newer channels like SMB and DSCR expanded.
- The board approved up to $200 million in share repurchases over the next 12 months, and the company reported about $1.2 billion in cash.
- Executives outlined 2026 priorities to scale Figure Connect, broaden products including mortgage-adjacent categories and deepen blockchain services, while disclosing a breach affecting about 12,400 applicants that is not expected to be financially material.