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2h ago

Figure Technology Files for Nasdaq IPO After Return to Profit

The filing highlights a profitable first half after a loss a year earlier.

Photo: Jaime Rogozinski (Shutterstock)
A person wearing high heels stands behind a Nasdaq banner in New York City, U.S., July 23, 2025. REUTERS/Kylie Cooper/File Photo
Blockchain lender figure joins crypto ipo rush with nasdaq listing bid under 'figr'
After successful ipos of bullish and etoro, crypto lender figure also seeks wall street debut

Overview

  • The company plans to list under the ticker FIGR on Nasdaq with Goldman Sachs, Jefferies and BofA Securities as lead underwriters, joining a broader wave of crypto-linked listings.
  • Revenue for the first half of 2025 rose 22.4% to about $191 million, with net income of roughly $29 million versus a year-ago loss.
  • Proceeds are earmarked for working capital and potential acquisitions, and the company does not plan to pay dividends.
  • Co-founder Mike Cagney will retain majority voting control following the offering, according to the S-1.
  • Figure reports originating more than $16 billion in home-equity loans through its blockchain platform and says it uses OpenAI tools and a Google Gemini chatbot in operations.