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FIGR

Figure Technology Solutions, Inc. Class A Common Stock

FIGR

Figure Technology Solutions, Inc. Class A Common Stock • NASDAQ
$36.24 ▲ 2.63% (+0.93)
Market Cap $6.38 B
52w High $49.50
52w Low $30.01
Dividend Yield 0%
P/E 139.38
Volume 741.97K
Outstanding Shares 176.10M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $156.365M ▲ $103.647M ▲ $89.576M ▲ 57.286% ▲ $0.42 ▲ $86.386M ▲
Q2-2025 $95.084M ▲ $60.802M ▲ $29.942M ▲ 31.49% ▲ $0.14 ▲ $49.861M ▲
Q1-2025 $55.41M ▼ $40.837M ▼ $-820K ▼ -1.48% ▼ $-0.004 ▼ $15.532M ▼
Q2-2024 $62.183M ▲ $49.734M ▼ $14.342M ▲ 23.064% ▲ $0.069 ▲ $32.455M ▲
Q1-2024 $61.109M $79.969M $-29.943M -48.999% $-0.14 $-8.696M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $1.097B ▲ $2.157B ▲ $980.229M ▲ $1.168B ▲
Q2-2025 $484.961M ▲ $1.273B ▼ $868.972M ▼ $395.93M ▲
Q1-2025 $405.685M $1.354B $985.651M $360.127M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $89.576M ▲ $-1.874B ▼ $1.883B ▲ $740.791M ▲ $719.789M ▲ $-1.874B ▼
Q2-2025 $29.994M ▲ $215.168M ▲ $-9.266M ▼ $-148.513M ▼ $57.389M ▲ $209.715M ▲
Q1-2025 $-613K ▼ $-152.958M ▼ $-3.572M ▲ $196.032M ▲ $39.502M ▲ $-157.376M ▼
Q2-2024 $15.061M ▲ $-20.346M ▲ $-24.424M ▼ $49.868M ▼ $5.098M ▼ $-24.696M ▲
Q1-2024 $-28.461M $-31.048M $-5.843M $119.837M $82.946M $-35.222M

Five-Year Company Overview

Income Statement

Income Statement Figure’s income statement shows a young business that is scaling quickly and has just crossed into profitability on paper. Revenue has grown solidly year over year, and the company has moved from a clear loss to a small profit at the net income level. Margins look relatively healthy for a fintech platform, helped by automation and a lean, tech-driven model. The key nuance: profitability is still very early and based on a modest revenue base. The business appears to be transitioning from “build and invest” mode toward a more balanced “grow with improving economics” phase. That’s encouraging, but the track record is still short and will need to be tested across different market conditions and interest-rate environments.

Balance Sheet

Balance Sheet The balance sheet has expanded meaningfully, reflecting a company that is ramping up operations and building out its platform. Total assets and cash have increased, giving Figure more resources to support growth, fund technology, and absorb volatility. At the same time, debt has also grown, and the company now relies more heavily on borrowed funds. That’s common in financial services and capital markets businesses, but it raises sensitivity to funding costs and credit conditions. Equity has strengthened but remains relatively small compared with the size of the balance sheet, which means the company’s capital base is still developing and leverage needs to be managed carefully as it scales.

Cash Flow

Cash Flow Cash flow tells a more cautious story than the income statement. Despite reporting a small accounting profit, Figure is still using cash in its operations, and overall free cash flow remains negative. The company is not burning large amounts on physical investment, so the cash outflow appears tied more to growth, working capital, and scaling the platform than to heavy bricks-and-mortar spending. This pattern is typical for a fast-growing fintech: earnings metrics improve first, while cash flow lags as the business invests in expansion. The key risk is that the company continues to depend on external funding and capital markets access until its core operations can consistently generate cash on their own.

Competitive Edge

Competitive Edge Figure occupies a differentiated niche at the intersection of traditional lending, capital markets, and blockchain technology. It is a leading non-bank player in home equity lending and has built its own purpose-built blockchain, giving it control over critical infrastructure instead of relying on third parties. Its vertically integrated model—from loan origination to trading and securitization—allows it to capture value across the full lifecycle of financial assets. A major strength is the ecosystem: a large network of lending partners, investors, and tokenized assets increases the value of the platform as more participants join, creating network effects that are hard for new entrants to replicate quickly. However, the company operates in highly competitive and heavily regulated arenas. Big banks, established fintechs, and new crypto-native players all see similar opportunities. Regulatory shifts, market cycles, and changing sentiment toward digital assets could either reinforce or erode Figure’s current edge over time.

Innovation and R&D

Innovation and R&D Innovation is the core of Figure’s strategy. The company has built its own blockchain tailored to financial services, using it to record, finance, and trade real-world assets such as home equity loans. This infrastructure aims to cut intermediaries, speed up settlement, and improve transparency—essentially re-wiring how loans move through the system. On top of that, Figure leans heavily on artificial intelligence for underwriting, document review, and customer support, aiming to lower costs and improve the user experience. It is also pushing into tokenized assets, crypto-backed lending, and a regulated yield-bearing stablecoin, and is developing a digital asset marketplace that blurs the lines between traditional and crypto markets. The opportunity is large, but so are the uncertainties. These initiatives depend on adoption by consumers, institutions, and regulators, and they require ongoing investment and strong risk management around technology, cybersecurity, and compliance.

Summary

Figure Technology Solutions is an early-stage but rapidly maturing fintech that combines lending, capital markets, blockchain, and AI into a single platform. Financially, it has moved from losses to a small profit with growing revenue and improving efficiency, but it still consumes cash and carries rising debt, signaling a business that remains in investment and scaling mode. Strategically, Figure’s main strengths lie in its proprietary blockchain, vertically integrated model, and growing network of partners and tokenized assets, which together create a potential competitive moat. Its innovation pipeline—from AI-driven underwriting to real-world asset tokenization and digital asset markets—offers significant upside if adoption continues. At the same time, the company’s model is exposed to regulatory change, technology execution risk, funding conditions, and the still-evolving reputation of blockchain and crypto in mainstream finance. Overall, Figure stands out as a highly innovative financial platform with promising momentum, but also with the typical uncertainties and growing pains of a young, fast-evolving business in a complex and regulated space.

NEWS

November 24, 2025 · 9:00 AM UTC

Ondo Invests $25 Million in Figure's $YLDS Stablecoin to Power OUSG and Expand Tokenized Treasury Yield

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November 21, 2025 · 4:10 PM UTC

Figure Technology Solutions to Present at Upcoming Investor Conferences

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November 17, 2025 · 5:11 PM UTC

Figure Announces Public Filing of Registration Statement for Proposed Offering of Tradeable, Blockchain-Native Equity Securities

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November 13, 2025 · 4:10 PM UTC

Figure Technology Solutions Reports Third Quarter 2025 Results

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November 12, 2025 · 8:31 AM UTC

Figure brings $YLDS to Solana, unlocking real RWA utility for DeFi

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