Figure Technology Reports Strong Third-Quarter Volume and Expands Buyback Program
Figure Technology Solutions shares slipped slightly Friday even after the blockchain-native marketplace posted a strong third-quarter earnings beat and raised its share repurchase plan to $400 million.
🏢CompaniesPhoto: Benzinga
Key points
- Q3 loan marketplace volume surged 134.7% year over year to $5.8 billion.
- Adjusted net revenue reached $283.3 million, beating consensus estimates.
- Company expanded its share buyback authorization from $200 million to $400 million.
Figure Technology Solutions Inc. shares traded down 0.04% to $25.66 on Friday following the release of its third-quarter financial results. Despite the minor dip in share price, the company surpassed Wall Street expectations with a loan marketplace volume of $5.8 billion, marking a 134.7% increase year over year. The reported figures included a $677 million contribution from the Kiavi acquisition.
Adjusted net revenue reached $283.3 million, topping the consensus estimate of $253.5 million. Meanwhile, adjusted EBITDA hit $163.6 million, comfortably beating the consensus projection of $128.4 million. GAAP earnings arrived at 36 cents per share, outpacing the 27-cent consensus.
Following the report, Needham analyst Kyle Peterson maintained a Buy rating on the stock while adjusting his price target down to $50 from $55, pointing to valuation multiple compression across the digital lending sector. At the same time, Figure expanded its share repurchase authorization from $200 million to $400 million and announced plans to execute a 10b5-1 buyback program.
Looking ahead, Figure projected fourth-quarter loan marketplace volume between $6.2 billion and $6.7 billion. Needham responded to the robust outlook by upgrading its future financial estimates, lifting its 2026 earnings projection to $1.17 per share and raising its 2027 forecast to $1.58 per share.
What to watch next: Execution of the expanded $400 million share buyback plan and upcoming fourth-quarter volume figures.
Source Benzinga — benzinga.com/analyst-stock-ratings/price-target/26/11/63258666/figu… ↗
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