Overview

• In its public filing, Figure reported first-half 2025 revenue up 22.4% to $191 million and a $29 million profit versus a $13 million loss a year earlier.
• The company will list on the Nasdaq under the ticker FIGR, with Goldman Sachs, Jefferies and BofA Securities serving as lead underwriters, and both the company and some existing holders will sell shares.
• Founder Mike Cagney, who also co-founded SoFi, will retain majority voting control after the offering.
• Founded in 2018, the blockchain-native platform says it and more than 160 partners have originated over $16 billion in home-equity credit.
• Industry watchers, including IPOX’s Josef Schuster, say crypto is becoming a key pillar of the IPO market following Circle’s strong debut, and Gemini filed for a listing last week.