Figure Technology Solutions, Inc. specializes in creating and operating advanced blockchain-based platforms, primarily serving the consumer finance industry. The company provides a ...
Figure Technology Solutions, Inc. (FIGR) is a leading financial technology company that leverages distributed ledger technology to transform the consumer finance industry. Founded in 2018 and headquartered in Reno, Nevada, the company provides a comprehensive suite of blockchain-based solutions for lending, trading, and investing, serving hundreds of partner originators including ...Figure Technology Solutions, Inc. (FIGR) is a leading financial technology company that leverages distributed ledger technology to transform the consumer finance industry. Founded in 2018 and headquartered in Reno, Nevada, the company provides a comprehensive suite of blockchain-based solutions for lending, trading, and investing, serving hundreds of partner originators including fintechs, mortgage companies, and credit unions across the United States. Figure's platforms enable faster, more efficient, and transparent financial transactions, reducing costs and improving access to capital. The company was formerly known as FT Intermediate, Inc. and adopted its current name in August 2025, ahead of its initial public offering on NASDAQ in September 2025. With a market capitalization of approximately $5.2 billion, Figure has demonstrated strong revenue growth, reporting a 92% increase in Q1 2026 and a gross profit margin of 90%. Despite aggressive expansion and significant operating cash outflows, the company maintains a solid current ratio of 2.1 and is focused on achieving profitability, as evidenced by its net profit margin of 29% and return on equity of 17.6%. Led by CEO Michael Tannenbaum, Figure continues to innovate in the fintech space, aiming to disrupt traditional financial systems by providing secure, decentralized alternatives. The company's commitment to blockchain technology not only enhances operational efficiency but also positions it at the forefront of the digital asset revolution.
Founded
2018
Employees
602
CEO
Michael Benjamin Tannenbaum
Full Name
Figure Technology Solutions, Inc. Class A Common Stock
YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.
QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).
$457.2M
+63.7%
+12.7%
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.
$133.9M
+677.6%
+94.6%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.
+78.7%
-14.8%
-8.1%
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).
+36.3%
+999.2%
+46.5%
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.
+29.3%
+375.0%
+72.6%
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.
$41.9M
+127.5%
—
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.
+9.2%
+116.8%
—
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.
77.0%
-60.3%
+1.9%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.
2.20x
+61.0%
-1.6%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.
Operator: Good morning, everyone. Welcome to the Figure Technology Solutions Second Quarter 2026 Earnings Conference Call. [Operator Instructions] And lastly, today's call is being recorded. I would now like to turn the call over to Mr. Bryan Michaleski, Head of Investor Relations. Please go ahead, sir.
Bryan Michaleski: Thank you. Good morning, and welcome to Figure's Second Quarter 2026 Earnings Call. My name is Bryan Michaleski, Head of Investor Relations here at Figure. Joining me on today's call are Michael Tannenbaum, Chief Executive Officer; and Macrina Kgil, our Chief Financial Officer. Before we get started, I'd like to note that in today's call we'll refer to certain non-GAAP measures. These measures have been reconciled to their GAAP equivalents in the earnings release we issued earlier this morning as well as in the appendix of the supplemental slide presentation posted to our website. As a reminder, non-GAAP measures are not intended to be a substitute for GAAP results. I'll also highlight that certain comments made during today's call may be considered forward-looking statements under federal securities law. The company cautions you that forward-looking statements involve substantial risks and uncertainties and a number of factors, many of which are beyond the company's control, could cause actual results, events or circumstances to differ materially from those described in these statements. Please note the risk factors we've identified in our most recent 10-Q and other SEC filings. We are not undertaking any commitment to update these statements if conditions change, except as required by law. Recording of this conversation will be made available on our website following the conclusion of this call. Following the conclusion of the prepared remarks, we'll open the line for questions. And with that, I'll turn the call over to Michael Tannenbaum. Michael, please go ahead.
Michael Tannenbaum: Thank you, Bryan. Good morning, everyone, and thank you for joining today's call. Figure delivered another great quarter as more and more partners see our vision for bringing the capital markets on chain. As previewed in July, Figure generated $4.3 billion of consumer loan marketplace volume, beating the top end of our guidance by 4% with 132% year-over-year growth. This was our strongest ever quarter, and we've seen continued strength in Q3, with application volumes on our platform surpassing $1 billion per week for the first time in early July. The continued rapid growth extends to our origination partner ecosystem as well. We now have 489 partners on our platform, up 102 from last quarter, with growth across all segments, including independent mortgage banks, servicers, depositories and fintech SMB. Importantly, recently closed partners are ramping faster than we traditionally see, aided by our investments in AI-enabled onboarding processes, thereby proving the scalability of our model and the value we drive for partners. Overall, our flywheel …
