Stevens discussed Figure’s secondary offering of blockchain-native common stock and positioned Figure’s approach as “blockchain-centric” and “self-custodial,” contrasting it with models he described as digital “twins” of DTCC securities or synthetic representations.He also pointed to blockchain’s ability to prevent certain operational issues, citing examples of “double pledging” concerns in the broader market. Stevens said that on Figure’s system, assets cannot be double pledged, and described a digital lie ...

Summary of Figure Technology Solutions Conference Call Company Overview - **Company**: Figure Technology Solutions (NasdaqGS:FIGR) - **Business Model**: A blockchain marketplace primarily focused on lending and equity, aiming to facilitate the trading of all assets on a blockchain in the future [4][8] Core Industry Insights - **Blockchain Advantages**: - Provides better settlement rails, increasing transactional and liquidity efficiencies [4][5] - Real-time information access enhances liquidity and reduces the risk of double pledging loans [5][6] - Offers a digital lien registry for secure loan pledging [7] Recent Developments - **Secondary Offering**: Launched a blockchain-native common stock offering, emphasizing the benefits of on-chain equity for issuers and shareholders [8][10] - **Issuer Benefits**: Direct relationships with shareholders, potential for rewards and dividends, and the ability to create programmable assets [10][11] - **Investor Benefits**: Ability to lend equity into pools, capturing economic rents that would typically go to prime brokerages [11][12] Product Ecosystem - **Figure Connect**: - A marketplace facilitating interactions between capital sources and users, with over half of consumer loan volume transacted through it [18][19] - Provides efficiency for originators, allowing them to maximize gains and access capital markets without extensive legal costs [19][20] - **Democratized Prime**: - Aims to democratize access to prime brokerage services, leveraging DeFi liquidity to compete with traditional warehouse lending [29][30] - Currently has a market of approximately $600 million, integrating DeFi with traditional finance [30][31] Market Dynamics - **Private Credit Concerns**: - Noted issues in the private credit market, particularly with software exposure and over-leveraging [21][22] - Figure operates in asset-based finance, emphasizing over-collateralization and safety [22][24] - **Growth Opportunities**: - Targeting large addressable markets such as auto finance and mortgages, with significant potential for growth in first lien loans [48][51] - Exploring partnerships with companies like Agora to expand into auto finance [45][46] Challenges and Friction Points - **Regulatory Clarity**: - Need for clearer regulations in both traditional finance (TradFi) and decentralized finance (DeFi) to facilitate growth [56][57] - **Market Education**: - Importance of educating stakeholders about DeFi and blockchain benefits to drive adoption [56][58] Future Vision - **Long-term Goals**: - Aiming to be a leading digital asset marketplace with diverse products and high transaction volumes, reducing the need for extensive education as the market matures [63]

NEW YORK, March 09, 2026 (GLOBE NEWSWIRE) -- Figure Technology Solutions (Nasdaq: FIGR; OPEN: FGRS), the leading blockchain-native capital marketplace for the origination, funding, sale and trading of tokenized assets, today announced that it will participate in the upcoming Cantor Global Technology & Industrial Growth Conference, to be held on Tuesday, March 10, 2025. Chief Capital Officer Todd Stevens is scheduled to participate in a fireside chat at 10:40 a.m. Eastern Standard Time on Tuesday, March 10, ...

NEW YORK, March 09, 2026 (GLOBE NEWSWIRE) -- Figure Technology Solutions (Nasdaq: FIGR; OPEN: FGRS), the leading blockchain-native capital marketplace for the origination, funding, sale and trading of tokenized assets, today announced that it will participate in the upcoming Cantor Global Technology & Industrial Growth Conference, to be held on Tuesday, March 10, 2025. Chief Capital Officer Todd Stevens is scheduled to participate in a fireside chat at 10:40 a.m. Eastern Standard Time on Tuesday, March 10, ...

Core Insights - Figure Technology Solutions reported significant growth in its consumer loan marketplace volume, reaching $896 million in February 2026, a 10% increase from January 2026 and a 127% increase year-over-year from February 2025 [2][11] - The company has seen a substantial rise in the circulation of its $YLDS stablecoin, which increased by 56% month-over-month to $588 million, compared to $376 million in January 2026 [2][11] - The matched offers balance on the Democratized Prime platform rose by 46% month-over-month to $369 million, indicating strong borrower demand and available lender supply [2][5][6] Consumer Loan Marketplace Volume - The consumer loan marketplace volume is defined as the total U.S. dollar equivalent value of originations of HELOCs, DSCRs, and personal loans, as well as third-party loans traded on Figure Connect [3] - The volume for February 2026 was $896 million, compared to $816 million in January 2026 and $395 million in February 2025, reflecting a significant increase in activity [2][3] $YLDS in Circulation - $YLDS in circulation represents the total U.S. dollar equivalent value of unsecured face-amount certificates backed by Figure Certificate Company assets [4] - The circulation increased to $588 million in February 2026 from $376 million in January 2026, marking a 56% month-over-month growth [2][4] Matched Offers and Borrower Demand - Matched offers are defined as the U.S. dollar equivalent value of offers matched between borrowers and lenders on the Democratized Prime platform [5] - The matched offers balance reached $369 million in February 2026, up from $253 million in January 2026, indicating a 46% increase [2][5] - Borrower demand also increased, with a reported value of $373 million in February 2026, up from $288 million in January 2026, reflecting a 30% growth [2][5] Available Lender Supply - Available lender supply is defined as the U.S. dollar equivalent value that lenders have made available in the lending pool on the Democratized Prime platform [6] - The available lender supply increased to $396 million in February 2026 from $263 million in January 2026, representing a 51% increase [2][6] Company Overview - Figure Technology Solutions is a blockchain-native capital marketplace that connects origination, funding, and secondary market activity, with over 300 partners and more than $22 billion in home equity originated to date [10][11] - The company is recognized as a market leader in real-world asset tokenization and has received AAA ratings from S&P and Moody's on multiple loan securitizations [12]

Core Insights - Figure Technology Solutions experienced a significant stock decline of over 25% following a disappointing earnings report for Q4 2025, which included a notable bottom-line miss [1] Financial Performance - The company reported net revenue of just under $160 million for Q4 2025, reflecting a year-over-year increase of nearly 91% [2] - GAAP net income surged nearly threefold to over $15 million, translating to $0.06 per share, although this fell short of analyst expectations of $0.15 per share [2][4] Business Operations - The growth in revenue was primarily driven by a more than doubling in the volume of its consumer loan marketplace business, reaching $2.7 billion [5] - The Figure Connect platform, which connects loan originators with institutional investors, saw its volume increase dramatically from $8 million to $1.5 billion year-over-year [5] Strategic Initiatives - The board of directors authorized a share repurchase program of up to $200 million for its class A and blockchain common stock, set to expire on February 27, 2027 [6]

Core Insights - The company positions artificial intelligence as a growth enabler rather than a cost-cutting tool, enhancing workflow efficiency and partner engagement [1] - Figure Connect is identified as the operating system for capital flows, achieving over 50% of consumer loan marketplace volume through this platform for the first time [2] - The company reported strong financial performance with Q4 marketplace volume reaching $2.7 billion, a 131% year-over-year increase, and adjusted net revenue of $158 million, up 106% [3][12] Financial Performance - Q4 adjusted EBITDA was $81.3 million, reflecting a 426% year-over-year increase, with a margin expansion to 51.6% from 20.2% [15] - The company ended the quarter with approximately $1.2 billion in cash and cash equivalents, and authorized a $200 million share repurchase program [16][17] - The net take rate was reported at 3.8%, a 40 basis point increase year-over-year, attributed to improved gain-on-sale execution [13] Blockchain Ecosystem - The Democratized Prime platform experienced nearly 10x quarter-over-quarter growth, expanding from $20 million to over $200 billion in matched offers [4][9] - YLDS, a regulated stablecoin, ended Q4 with a circulation of $328 million, having increased by more than 20x since the previous quarter [10] - The launch of OPEN, a blockchain-native share class marketplace, supports 24/7 trading and on-chain ownership records [11] Product Expansion - The company is focusing on expanding its product offerings, including a new auto finance partnership with Agora, which is expected to bring significant volume to its platforms [6][7] - First lien mortgage products represented approximately 19% of originations in Q4, up from 12% a year earlier, with a strong emphasis on cost and speed advantages [8] - SMB lending saw over $46 million originated in Q4, doubling the previous period, with plans for a strategic partnership with Newtek [7] Operational Efficiency - The introduction of an AI customer service agent has improved operational efficiency, allowing staff to focus on growth-oriented tasks [5] - AI is also being utilized in property title review workflows to enhance asset quality and standardization [5] - The company has reported zero losses on crypto-backed loans, indicating strong risk management practices [18]

Core Insights - Figure Technology Solutions reported strong financial results for Q4 2025, highlighting triple-digit year-over-year growth in Consumer Loan Marketplace volume and increased adoption of Figure Connect [2][7][28] - The company aims to expand its partner network, enhance marketplace liquidity, and advance its blockchain-native infrastructure, reflecting a commitment to modernizing capital markets [2][28] Q4 2025 Financial Highlights - Consumer Loan Marketplace volume reached $2.7 billion, a 131% increase from the previous year, with Figure Connect contributing $1.5 billion [7][9] - Net revenue for Q4 2025 was $159.9 million, up 91% year-over-year, while adjusted net revenue was $157.6 million, reflecting a 105.7% increase [9][26] - Net income surged 156% year-over-year to $15 million, with a net income margin of 9.4%, an increase of 2 percentage points [7][9] - Adjusted EBITDA rose 426% year-over-year to $81.3 million, with an adjusted EBITDA margin of 51.6%, up 31 percentage points [7][9] Full Year 2025 Financial Highlights - Total Consumer Loan Marketplace volume for the year was $8.4 billion, a 63% increase from the prior year, with Figure Connect volume at $3.8 billion [7][9] - Full-year net revenue increased by 49% to $506.9 million, while adjusted net revenue was $514.8 million, up 51.8% year-over-year [9][26] - Net income for the year increased 574% to $134.3 million, with a net income margin of 26.5%, up 21 percentage points [7][9] - Adjusted EBITDA for the year was $251.2 million, a 148% increase, with an adjusted EBITDA margin of 48.8%, up 19 percentage points [7][9] Share Repurchase Program - The Board of Directors authorized a share repurchase program allowing the company to repurchase up to $200 million of its Class A common stock and Blockchain common stock over the next 12 months [5][8] - Repurchases may occur in the open market or through privately negotiated transactions, depending on market conditions [6][8] Recent Business Developments - Figure Connect volume accounted for 54% of Consumer Loan Marketplace volume in Q4 2025, indicating strong integration of the platform [10] - The company expanded its product offerings, including new categories such as Crypto Backed Loans and Small/Medium Business Loans, generating $97 million in volume during the quarter [10][14] - Figure's ecosystem now includes 307 active partners, reflecting growth in its third-party origination ecosystem [14][28]

Core Viewpoint - Figure Technology Solutions reported strong preliminary financial results for Q4 2025, leading to a stock price increase of over 7% following the announcement of a secondary stock offering [1][5]. Financial Performance - The company anticipates Q4 revenue between $158 million and $162 million, with adjusted EBITDA expected to be between $80 million and $83 million, both exceeding Wall Street analysts' estimates [2]. - The consumer loan marketplace processed $2.7 billion in loans during Q4, reflecting a 131% increase year-over-year, indicating robust growth in loan activity [2]. Management Commentary - CEO Michael Tannenbaum highlighted the strong Q4 results as a sign of growing momentum for the company, noting triple-digit year-over-year growth in Consumer Loan Marketplace volume and increased adoption of Figure Connect [3]. - The CEO emphasized the focus on expanding the partner network, enhancing marketplace liquidity, and advancing blockchain-native infrastructure [3]. Secondary Stock Offering - Figure announced plans for a secondary public offering of up to 4,230,000 shares of its Series A Blockchain Common Stock, with existing shareholders selling shares to new investors [4]. - Major investment banks, including Goldman Sachs, Morgan Stanley, and Cantor Fitzgerald, will manage the stock sale [4]. Share Repurchase Plan - Following the offering, Figure intends to repurchase up to $30 million worth of shares from the underwriters using existing cash, which may support the share price by reducing market supply [5]. - The stock price rose to $36.53 after the announcement of the offering and repurchase plan [5].

Core Viewpoint - Figure Technology Solutions, Inc. has announced a proposed secondary public offering of up to 4,230,000 shares of its Series A Blockchain Common Stock, aiming to enhance its capital structure and market presence [1] Group 1: Offering Details - The proposed offering includes a share repurchase plan where Figure intends to buy back up to $30 million of its Class A common stock from underwriters at the same price per share as the offering [2] - Goldman Sachs & Co. LLC, Morgan Stanley, and Cantor Fitzgerald will serve as lead joint book-running managers and sales agents for the offering [3] Group 2: Company Overview - Figure Technology Solutions operates as a blockchain-native capital marketplace, facilitating origination, funding, and trading of tokenized assets, with over 200 partners and more than $22 billion in home equity originated [6] - The company’s ecosystem includes Figure Connect, a consumer credit marketplace, and Democratized Prime, an on-chain lend-borrow marketplace, along with DART for asset custody and $YLDS, a yield-bearing stablecoin [6]