FIGR · Figure Technology Solutions, Inc. Class A Common Stock

Figure Technology Solutions reported exceptional Q1 2026 results, driven by record Consumer Loan Marketplace volume of $2.9 billion, up 113% year-over-year. The growth was fueled by Figure Connect volume of $1.6 billion, which represented 56% of total marketplace volume. Net revenue surged 98% to $167 million, while Adjusted Net Revenue increased 92% to $167 million, reflecting strong fee income and gain-on-sale margins. The company achieved net income of $45 million (27% margin), a significant turnaround from a $0.6 million loss in the prior year, driven by operating leverage and scale. Adjusted EBITDA more than doubled to $83 million, with margin expanding 17 percentage points to 49.6%, underscoring the capital-light model's profitability. Management highlighted the addition of a record 80 new partners in the quarter, including the 6th largest U.S. mortgage lender, and the upcoming launch with Flagstar Bank in Q2. The company also provided Q2 2026 guidance for Consumer Loan Marketplace volume of $3.8-$4.1 billion, indicating continued momentum. Balance sheet remains strong with $1.5 billion in cash and $504 million in loans held for sale.