New York, Jan 12, 2026, 15:09 EST — Regular session
- Figure Technology Solutions shares dropped roughly 10% in afternoon trading following the release of preliminary operating metrics for December and Q4
- Company posted Q4 consumer loan marketplace volume of $2.705 billion; $YLDS in circulation closed the quarter at $328 million
- Traders are focused on Tuesday’s U.S. CPI report and the Fed’s late-January meeting, looking for rate signals that could move housing-related lenders
Shares of Figure Technology Solutions, Inc. dropped steeply on Monday following the release of preliminary Q4 operating data, offering a first glimpse into its loan marketplace and crypto-related offerings. The Nasdaq-listed stock slipped 9.6% to $52.50, hitting a low of $49.10 and peaking near $58.67 earlier in the session. (StockAnalysis)
This matters because Figure remains a young public company, trading as if it’s a referendum on two shaky bets: housing credit and tokenization. When a stock swings this dramatically based on operating metrics, it signals the market is fixated on “volume” as a proxy for earnings potential.
Monday’s release comes ahead of the company’s audited quarterly results. Investors are weighing how much of the growth stems from sustainable fee revenue versus the impact of funding costs and demand for home-equity loans.
Figure provided the update in a recent Form 8-K filing with the U.S. Securities and Exchange Commission on Monday, the document revealed.
The company disclosed in its press release that consumer loan marketplace volume hit $869 million in December, marking a 134% surge from the previous year. For the fourth quarter, volume totaled $2.705 billion, rising 131% year-on-year and climbing 10% from the prior quarter. Additionally, $YLDS in circulation closed out the quarter at $328 million. (GlobeNewswire)
On Democratized Prime, a decentralized lending marketplace, borrower demand reached $246 million by quarter’s end, compared to $213 million in lender supply, the company reported. Matched offers came in at $206 million. “We believe this measure is an indication of our scale and represents the potential revenue opportunity from the technology used for consumer credit loan originations,” it added. (HousingWire)
Figure defines consumer loan marketplace volume to include originations like HELOCs (home equity lines of credit), DSCR loans (investment-property loans assessed by debt-service coverage), and personal loans, plus third-party loans traded through its Figure Connect platform. It characterized $YLDS as an SEC-registered yield-bearing stablecoin, noting that the latest monthly and quarterly numbers are preliminary, unaudited, and could shift as closing processes wrap up.
Investors want to know if the sharp rise in $YLDS and on-chain marketplace balances will translate into consistent transaction and servicing revenue—without pushing up credit costs. Figure’s update offers a glimpse of demand and match rates but leaves margins unclear.
The downside scenario is clear-cut. Operating volume doesn’t equal revenue, and fee rates vary across volume types. A sudden change in interest rates or housing turnover can swiftly dent origination demand. On top of that, evolving regulations on digital-asset products could rapidly alter the economics.
Rates continue to steer the narrative for lenders tied to housing, and all eyes will be on Tuesday’s U.S. consumer price index report for December 2025, scheduled for 8:30 a.m. Eastern.
