"Figure Technology Solutions reported strong revenue growth and a significant increase in profitability in its first full quarter as a public company. "We're creating a capital marketplace powered by blockchain," CFO Macrina Kgil said. The company offers blockchain-recorded home equity lines of credit (HELOCs), mortgages, consumer loans, and crypto-backed loans-making Figure the leading provider in tokenized private credit and asset-backed blockchain lending."
"For Q3, Figure beat Wall Street expectations. Net income surged 227% year-over-year to $90 million, the company reported on Friday. And net revenue climbed 55% to $156 million, with adjusted net revenue up 42%. Adjusted EBITDA increased 75% to $86 million, and the margin improved by 10 percentage points to 55%. Consumer loan marketplace volume hit $2.5 billion, up 70% from the prior year."
Figure Technology Solutions posted robust Q3 results in its first full quarter as a public company, with net income up 227% to $90 million and net revenue up 55% to $156 million. Adjusted net revenue rose 42% and adjusted EBITDA increased 75% to $86 million, lifting margins to 55%. Consumer loan marketplace volume reached $2.5 billion, including $1.1 billion via the Figure Connect platform launched in June 2024. The firm issues blockchain-recorded HELOCs, mortgages, consumer and crypto-backed loans and leads in tokenized private credit. IPO proceeds will fund product innovation and strategic expansion, including DeFi initiatives.
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