Figure Technology Solutions, Inc. Class A Common Stock Q2 2026 Earnings Recap

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.