Figure Technologies Q2 net revenue hit $226M, up 113%, as loan marketplace volumes surged 132% to $4.3B. Shares rose 5% premarket. Acquisition of Kiavi on track for H2 2026.
Alpha Score of 40 reflects weak overall profile with moderate momentum, poor value, moderate quality, moderate sentiment.
Figure Technology Solutions more than doubled its revenue in the second quarter, driven by a surge in its blockchain-based loan marketplace.
The company reported $226 million in net revenue for the quarter ended June 30, up 113% from a year earlier, according to its earnings release. Net income climbed 192% to $87 million, or 35 cents per diluted share. Adjusted EBITDA more than doubled to $119 million.
Figure said the Consumer Loan Marketplace drove the gains, with volume reaching $4.3 billion, up 132% from a year ago. Figure Connect, the marketplace that links loan originators with capital providers, accounted for $2.8 billion of that total, or about 65%.
FIGR shares rose roughly 5% in premarket trading Thursday, extending a 10% gain from the prior session.
Figure is among the more established publicly traded companies pushing lending and capital-market activity onto blockchain rails. Its platform connects loan originators with investors, using blockchain infrastructure to support the origination and trading of assets such as home-equity loans.
The company added 102 loan-origination partners during the quarter, bringing the total to 489 across mortgage lenders, banks and fintech firms. CEO Michael Tannenbaum said weekly loan applications surpassed $1 billion in July.
Figure's other onchain products also expanded. Circulation of YLDS, its yield-bearing stablecoin, rose to $556 million at the end of June from $328 million at the end of 2025. Third-party borrowing through its Democratized Prime marketplace reached about $170 million as of Aug. 6.
For the third quarter, Figure expects Consumer Loan Marketplace volume of $4.8 billion to $5.2 billion.
Its pending acquisition of real estate lender Kiavi remains on track to close in the second half of 2026, the company said.
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