Core Viewpoint - Figure Technology Solutions reported strong preliminary financial results for Q4 2025, leading to a stock price increase of over 7% following the announcement of a secondary stock offering [1][5]. Financial Performance - The company anticipates Q4 revenue between $158 million and $162 million, with adjusted EBITDA expected to be between $80 million and $83 million, both exceeding Wall Street analysts' estimates [2]. - The consumer loan marketplace processed $2.7 billion in loans during Q4, reflecting a 131% increase year-over-year, indicating robust growth in loan activity [2]. Management Commentary - CEO Michael Tannenbaum highlighted the strong Q4 results as a sign of growing momentum for the company, noting triple-digit year-over-year growth in Consumer Loan Marketplace volume and increased adoption of Figure Connect [3]. - The CEO emphasized the focus on expanding the partner network, enhancing marketplace liquidity, and advancing blockchain-native infrastructure [3]. Secondary Stock Offering - Figure announced plans for a secondary public offering of up to 4,230,000 shares of its Series A Blockchain Common Stock, with existing shareholders selling shares to new investors [4]. - Major investment banks, including Goldman Sachs, Morgan Stanley, and Cantor Fitzgerald, will manage the stock sale [4]. Share Repurchase Plan - Following the offering, Figure intends to repurchase up to $30 million worth of shares from the underwriters using existing cash, which may support the share price by reducing market supply [5]. - The stock price rose to $36.53 after the announcement of the offering and repurchase plan [5].