Figure Technology Solutions Inc ( FIGR ) shares are rising Friday after the company released its third-quarter fiscal report with higher than expected financial results.

What Happened: Figure Technology reported third-quarter earnings of 34 cents per share, versus the analyst consensus estimate of 15 cents per share. The company brought in $156.37 million in sales last quarter, beating analyst forecasts of $119.01 million.

Consumer loans on its platform jumped to $2.5 billion that season, which is up 70% from the previous year's count. The volume included $1.1 billion through Figure Connect marketplace, which increased from the $767 million reported in the second-quarter of 2024. The Figure Connect platform was introduced in June 2024.

Figure's net revenue rose 55% over last year, while the firm's adjusted net revenue in the fourth-quarter reached $156 million or a 42% increase versus the same time frame for 2024. Figure’s net income also climbed 227% to reach $90 million.

“We recently completed our successful initial public offering and are pleased to report a strong first-quarter as a public company,” said Michael Tannenbaum, CEO. “The continued success of Figure’s marketplace approach to tokenized consumer loan origination drove significant growth in earnings, with Net Income increasing 227% year-over-year while also achieving an Adjusted EBITDA margin of 55%, underscoring the scalability of our blockchain-based model.”

FIGR Price Action: Figure Technology shares were up 17.64% at $40.69 at the time of publication on Friday, according to Benzinga Pro.

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