Figure Technology Solutions, Inc. Class A Common Stock Earnings Recaps
Q2 2026
Aug 15, 2026
Figure’s shares rose modestly by 2.4% following Q2 results that showed continued rapid volume growth and expanding partner traction, though take rate remains under pressure due to channel mix shifts and rising interest rates.
Key takeaways
- Consumer loan marketplace volume hit $4.3 billion, up 132% year-over-year and surpassing the top end of guidance by 4%.
- Platform partners increased to 489, up 102 from last quarter, with broad growth across independent mortgage banks, servicers, depositories, and fintech SMBs.
- Figure Connect represented 65% of marketplace volume, up from 56% last quarter, contributing to strong operating leverage and 55% EBITDA margins.
- Take rate declined to 3.6%, near the low end of guidance, pressured by larger partners moving directly to lower-fee Figure Connect, higher interest rates reducing gain-on-sale, and greater first-lien loan volumes.
- Management expects take rate headwinds to persist near current low levels in Q3 amid the ongoing shift in business mix.
Q1 2026
May 13, 2026
Figure Technology's shares rose modestly by 1.4% following Q1 2026 results, reflecting a largely in-line performance with no material surprises to drive the stock more meaningfully in either direction.
Key takeaways
- The company continues to build its blockchain-native capital market ecosystem spanning debt and structured finance, equity and non-debt digital assets, and capital and financing markets.
- Majority of mortgage production now comes through 380+ third-party partners, with over half trading on the Connect whole loan marketplace.
- Forge platform facilitates liquidity by transforming whole loans into small liquid participation units, enabling DeFi collateralization and market arbitrage.
- Launched OPEN, an on-chain public equity network offering 24/7 trading, wallet self-custody, and direct DeFi borrowing/lending benefits for shareholders.
- The business model centers on marketplace operation, DeFi bridging, and arbitrage participation, but management highlighted ongoing development and scaling rather than delivering updated guidance or quantifiable financial beats.
Q3 2025
Nov 19, 2025
Figure Technology Solutions reported a robust third quarter, achieving significant growth in adjusted EBITDA and net income while expanding its loan volume and marketplace efficiency.
Key takeaways
- Adjusted EBITDA surged 75% year-over-year to $86 million, with an impressive EBITDA margin of 55%.
- Total consumer loan marketplace volume reached nearly $2.5 billion, marking a 70% year-over-year increase, driven by expansion in origination partnerships.
- First lien lending volumes nearly tripled year-over-year, highlighting rapid adoption of the Figure Connect platform for faster and more cost-effective funding.
- New product categories contributed over $80 million in volume, enhancing scalability and diversifying growth avenues for the company.
- Transitioning to a fee-based model has allowed partners to access capital market liquidity directly, significantly increasing efficiency and profitability.