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Figure Technology sinks after mixed Q4 results

These Q4 figures were slightly below the midpoints of the preliminary results released earlier this month.

Luke Kawa

Figure Technology Solutions released Q4 results after the close on Thursday that weren’t much of a surprise, despite a key executive flagging the event as a potential major catalyst for the company.

Shares slumped 6% in trading early Friday.

The Q4 numbers:

  • Revenue: $159.9 million (estimate: $156.2 million)

  • Adjusted EBITDA: $81.3 million (estimate: $81.5 million)

On Sunday, the cofounder tweeted this ahead of earnings, seemingly implying that these numbers might kick off a short squeeze (while also saying he was not trying to cause such an event):

The firm already released preliminary ranges for these results on February 13 as management announced a non-dilutive secondary offering of blockchain-native shares, which were ultimately priced at a substantial discount and received heavy interest.

The actual Q4 figures turned out to be modestly below the midpoints of the ranges provided.

In the wake of this release, Needham analyst Kyle Peterson cut his price target on the stock to $55 from $71, while Keefe Bruyette analyst Ryan Tomasello also trimmed his to $55 from $62.

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Nike sinks to lowest level since 2014 after warning of “challenged” sales environment in Q4 report

Did Nike do it?

Investors had a mixed reaction after the global sports apparel company reported its fourth quarter earnings on Tuesday after the bell. Shares initially rose 5% as Nike beat out Wall Street expectations amid a hefty tariff refund bonus. However, the stock then sank to its lowest level since August 2014 in postmarket trading.

Here are the Q4 numbers:

  • Revenue of $11.0 billion (estimate: $10.8 billion).

  • Adjusted earnings per share of $0.20 (estimate: $0.12).

Ahead of this report, Nike warned that results would be flattered by a one-time tariff refund (now estimated at roughly $0.52 per share for the bottom line). That gave the company an extra cushion in snapping its streak of seven quarters of year-over-year profit declines.

Over the past year, the company had been punished by tariffs on imported goods, stagnant consumer spending, and increasing competition from other footwear brands like New Balance, Adidas, and Hoka.

Outgoing CFO Matthew Friend deemed it an “increasingly challenging operating environment, where sell-through remains challenged.”

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