Figure Technology Solutions (FIGR) Company Report

Figure Technology Solutions (FIGR) reported preliminary Consumer Loan Marketplace Volume of $2,705 million for Q4 2025, representing a 131% increase year-over-year from Q4 2024 and a 10% increase quarter-over-quarter from Q3 2025.
$YLDS in Circulation reached $328 million in December 2025, showing a 198% increase month-over-month from November 2025 and a 1,462% increase quarter-over-quarter from Q3 2025.
The Democratized Prime platform demonstrated significant growth, with Matched Offers Balance increasing 442% quarter-over-quarter to $206 million in Q4 2025, and Borrower Demand rising 811% quarter-over-quarter to $246 million.
The reported information is preliminary and unaudited, based on Figure's estimates, and is subject to completion of financial closing procedures.

Jan 12, 2026, 1:00 PM

8-K

Figure Technologies Discusses Post-IPO Strategy and Blockchain Expansion

FIGR

Product Launch

New Projects/Investments

Revenue Acceleration/Inflection

Figure Technologies, led by CEO Michael Tannenbaum since 2024, went public in September 2024 and is building blockchain-based capital markets for tokenized loans, starting with mortgages.
Key strategic priorities include expanding their HELOC product into the $35 trillion home equity market, diversifying into other mortgage products like DSCR loans, and strengthening their blockchain pillar with products such as the YLDS stablecoin and Democratized Prime.
The company reported significant growth, adding 78 originating partners in Q3, exceeding the total for the previous two years, and increasing its average loan balance from $65,000 to $100,000 since April 2024.
Figure aims to expand beyond mortgages into all private credit and eventually equities, with plans to tokenize equities to allow owners more control over stock loans and cross-collateralization.

Dec 10, 2025, 5:20 PM

Transcript

Figure Technologies Discusses Post-IPO Strategy and Growth at Goldman Sachs Conference

FIGR

New Projects/Investments

Product Launch

Revenue Acceleration/Inflection

Figure Technologies, led by CEO Michael Tannenbaum since 2024, successfully completed its IPO in September. The company is building a blockchain-based capital market, initially focusing on mortgage origination, where its platform allows partners to originate assets in five days for $1,000, significantly undercutting the industry average of 45 days and $12,000. Figure currently processes about $1 billion in originations monthly, targeting a $2 trillion annual mortgage market.
The company's strategic priorities include expanding its mortgage offerings, particularly leveraging its HELOC product to tap into the $35 trillion home equity market, diversifying into products like debt service coverage ratio (DSCR) loans, and advancing its blockchain pillar with the YLDS stablecoin and Democratized Prime money market.
Figure reported strong performance in Q3 2025, with key metrics detailed in the table below. The growth in originating partners was partly attributed to unlocking the SMB use case.

Metric	Q3 2025
Adjusted EBITDA Margin (%)	55%
Originating Partners Added (Number)	78
Figure Connect Volume (% of Total)	50%

Figure recently announced a non-dilutive tokenized secondary offering for its stock, which will trade natively on blockchain with decentralized custody, aiming to provide equity owners with more control over stock loans.

Dec 10, 2025, 5:20 PM

Transcript

Figure Technologies Outlines Blockchain Capital Markets Strategy and Growth at Goldman Sachs Conference

FIGR

Product Launch

New Projects/Investments

Figure Technologies, under CEO Michael Tannenbaum, is building blockchain-based capital markets, beginning with tokenized mortgages. Their platform significantly reduces mortgage origination time and cost to 5 days and $1,000, compared to the industry average of 45 days and $12,000.
The company's strategic priorities include expanding its HELOC product, diversifying into other mortgage products like debt service coverage ratio loans, and growing its blockchain offerings such as the YLDS stablecoin and the Democratized Prime short-term money marketplace.
Figure added 78 originating partners in Q3, surpassing the total for the previous two years combined, partly due to unlocking the SMB use case for its HELOC product.
The Tricolor situation highlighted the value of Figure's blockchain approach, demonstrating its capability for lien perfection and preventing issues like double-pledged loans, which has increased client interest.
Figure recently announced a non-dilutive tokenized secondary offering for its own stock, creating a second share class that will trade natively on blockchain with decentralized custody, aiming to empower equity owners with more control over stock loans.

Dec 10, 2025, 5:20 PM

Transcript

Figure Technology Solutions Highlights Financial Performance and Growth Initiatives

FIGR

New Projects/Investments

Revenue Acceleration/Inflection

Product Launch

Figure Technology Solutions (FIGR), which went public in September 2025, operates a blockchain-based capital marketplace for private credit, offering a loan origination system that significantly reduces origination costs to approximately $750 per loan, compared to an industry average of $11,000-$12,000.
The company has been GAAP net income positive since 2024 and reported an Adjusted EBITDA margin of 55% for Q3 2025, with a medium to long-term goal of achieving 60%+.
Figure is expanding its product offerings beyond traditional HELOCs to include first lien HELOCs, which saw volume triple year-over-year and accounted for 17% of Q3 2025 origination volume, as well as SMB loans and crypto-backed loans.
The company reported $2.5 billion in volume in Q3 2025, representing 70% year-over-year growth, and maintains a loss rate of less than 1% on its loans, which have received a AAA securitization rating from S&P and Moody's.
Figure has filed an S-1 for a secondary, non-dilutive tokenized blockchain equity offering that allows for nanosecond transfers and can be used as collateral.

Dec 10, 2025, 2:00 PM

Transcript

Figure Highlights Q3 Financials and Strategic Expansion

FIGR

Guidance Update

New Projects/Investments

Revenue Acceleration/Inflection

Figure Technology Solutions (FIGR) reported a 55% Adjusted EBITDA margin for Q3 and has been GAAP net income positive since 2024, with a long-term goal of achieving 60% Adjusted EBITDA margin.
The company operates a capital marketplace for private credit using blockchain technology, reporting $2.5 billion in Q3 volume, representing 70% year-over-year growth, and has secured a AAA securitization rating from S&P and Moody's for its loans.
Figure's loan origination system is highly efficient, costing approximately $750 per loan to originate compared to an industry average of $11,000-$12,000, and offers rapid loan closures in 5 to 10 days versus the industry average of 45 days.
Figure is expanding its product offerings beyond traditional HELOCs to include first lien HELOCs (17% of Q3 origination volume, tripled YoY) and SMB loans, and has filed an S-1 with the SEC for tokenized blockchain equity.

Dec 10, 2025, 2:00 PM

Transcript

Figure CFO Highlights Strong Performance and Strategic Growth Initiatives

FIGR

Product Launch

New Projects/Investments

Guidance Update

Figure Technology Solutions (FIGR) became a public company in September of this year, operating a capital marketplace for private credit with loans native to its blockchain technology.
The company has been GAAP net income positive since 2024 and reported an Adjusted EBITDA margin of 55% for Q3, with a medium to long-term goal of achieving 60%+.
Figure's loan origination system is significantly faster and more cost-effective, enabling loan decisions in 5 minutes and closing in 5-10 days (compared to an industry average of 45 days), with an origination cost of approximately $750 (versus an industry average of $11,000-$12,000).
In Q3, Figure achieved $2.5 billion in volume, representing 70% year-over-year growth, and maintains strong loan performance with loss rates of less than 1%.
The company is expanding its product offerings to include first lien HELOCs (which constituted 17% of Q3 origination volume), SMB loans, and crypto-backed loans, and is developing a tokenized equity product.

Dec 10, 2025, 2:00 PM

Transcript

Figure Launches First Blockchain-Native Public Equity Security

FIGR

Product Launch

New Projects/Investments

Figure (FIGR) has launched the first-ever blockchain-native public equity security, which is a non-dilutive offering to existing shareholders and is a fully registered share class of common stock with the SEC, providing the same voting rights and economic terms as its NASDAQ-listed shares.
This blockchain-native equity offers key advantages such as faster bilateral settlement, 24/7 trading, cross-collateralization, and transparent stock lending or borrowing directly on the Provenance blockchain, by eliminating complex intermediaries.
Figure anticipates earning volume-based fees from other issuers who adopt this model, with initial discussions focused on blockchain-native or adjacent companies.

Nov 18, 2025, 9:15 PM

Transcript

Figure Launches Blockchain-Native Public Equity Security

FIGR

Product Launch

New Projects/Investments

Figure (FIGR) has launched the first-ever issue of a Blockchain-native public equity security, enabling investors to hold, transfer, and collateralize Figure stock directly on the Provenance Blockchain.
This non-dilutive offering is a fully registered share class of common stock with the SEC, providing the same voting rights and economic terms as Nasdaq-listed shares.
The Blockchain-native equity offers advantages such as faster bilateral settlement, 24/7 trading, cross-collateralization, and the ability to lend or borrow stock transparently, while eliminating traditional intermediaries.
Figure expects the offering to go live likely in the new year (2026) after SEC processing, with a mechanism to swap between blockchain and NMS securities to ensure liquidity and anticipates the blockchain security will trade at a premium due to its enhanced utility.

Nov 18, 2025, 9:15 PM

Transcript

Figure Announces Blockchain-Native Secondary Offering

FIGR

New Projects/Investments

Product Launch

Figure Technology Solutions, Inc. (FIGR) is launching a blockchain-native follow-on non-dilutive secondary offering, which is described as the first-ever issuance of blockchain-native public equity.
This offering aims to provide benefits such as faster settlement, 24/7 trading, cross collateralization, and stock loan capabilities.
Figure Blockchain Shares will be available to trade on Mobile and Pro Trade, and can be used as collateral in Demo Prime.
The offering mechanics involve selling stockholders converting their cash proceeds into YLDS and Figure minting Figure Blockchain Shares into the Follow On Investors' Wallets.

Nov 18, 2025, 9:15 PM

Presentation

Earnings Transcripts

Quarterly earnings call transcripts for Figure Technology Solutions.

Q3 2025

Nov 14, 2025

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