Figure Technology Solutions, Inc. Class A(FIGR)
$24.19+0.85 (+3.64%)
FIGR
Figure Technology Solutions, Inc. Class A earnings date
$24.19
At close:+0.85 (+3.64%)
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Figure Technology Solutions, Inc. Class A (FIGR) Q3 2026 Earnings Report
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FIGR Q3 2026 EPS Results
- Actual EPS
- $0.36
- Consensus EPS
- $0.30
- Beat/Miss
- Beat by +$0.06
- One Year Ago EPS
- $0.34
FIGR Q3 2026 Revenue Results
- Actual Revenue
- $287.12M
- Expected Revenue
- $253.48M
- Beat/Miss
- Beat by +$33.64M
- YoY Revenue Growth
- +115.57%
Earnings Announcement Details
- Quarter
- Q3 2026
- Date
- 11/12/2026
- Time
- Before Open
- Conference Call
- Thursday, November 12, 2026
FIGR Upcoming Earnings
Figure Technology Solutions, Inc. Class A's next earnings date is estimated for March 4, 2027, based on past reporting schedules.
Q3 2026 Earnings Call Audio
FIGR Q3 2026 Earnings Call
0:00 / 0:00
Q3 2026 Earnings Slide Deck
Q3 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call was strongly positive, marked by record volume growth, a 91% increase in adjusted EBITDA, expanding Figure Connect and ecosystem fees, stable credit quality, strong liquidity, and an ahead-of-plan Kiavi integration. Management also highlighted substantial partner, product and capital-markets opportunities. Offsetting items included rate-related funnel pressure, expected 10% to 15% seasonal volume declines, near-term margin and expense pressure from Kiavi, lower take-rate ranges for some Connect products, and slower depository sales cycles. The positive developments significantly outweighed the stated challenges.
Company Guidance
The company guided Q4 loan marketplace volume to the range of $6.2 billion to $6.7 billion and combined gross take rate to 3.1% to 3.4%; gross take rate is expected to be in the 1.5% to 2% range for shorter duration RTLs and 2.9% to 3.4% for longer duration Connect HELOC over the next 6 to 12 months. HELOC, RTL and DSCR products have historically seen winter months from November through February be slower than Q2 and Q3 volume levels by as much as 10% to 15% from Q3 to Q4 sequentially, and returning to seasonal norms suggests lower sequential volumes from Figure and Kiavi and lower adjusted EBITDA margin. Q4 is expected to include incremental $18 million to $23 million of adjusted expenses from the acquisition as compared to Q3, while Kiavi pre-Figure was running at or below 40% adjusted EBITDA margin; as seasonal pressures abate and planned revenue synergies are executed in '27, adjusted EBITDA margin is expected to improve meaningfully toward the overall medium-term 60% target.
- Record Volume Growth and Strong ProfitabilityQ3 loan marketplace volume was $5.8 billion, including Kiavi, up 135% year-over-year as reported and 107% on a Figure stand-alone basis. Adjusted EBITDA was $164 million, up 91% year-over-year, with adjusted EBITDA margin expanding to 58% from 55% a year ago.
- Figure Connect Continued to ScaleFigure Connect represented 74% of overall volume, up from 65% last quarter and 46% a year ago. On a stand-alone basis, 72% of volume was on Figure Connect. Ecosystem and technology fees were roughly 40% of revenue, more than tripling from a year ago and becoming the single largest contributor to the P&L.
- Consumer Marketplace Reached a New RecordThe consumer loan marketplace processed $5.1 billion on an organic basis, toward the upper half of the previously guided $4.8 billion to $5.2 billion range. Including Kiavi's one-month contribution, reported volume was $5.8 billion.
- Partner Network and Existing-Partner Volume ExpandedFigure ended the quarter with 612 stand-alone partners and 894 partners including Kiavi's broker partners, representing another record for partner additions. Partners that were with Figure in Q3 2025 generated over 40% more volume in Q3 2026.
- SMB and Depository Growth Vectors StrengthenedFigure had over 20 active depository partners and more than 150 partners in its fast-growing SMB business. SMB crossed $500 million in run-rate volume in Q3.
- Agentic Loan Officer Assistant Improved Funded DollarsThe new Agentic Loan Officer Assistant showed a 29% increase in funded dollars per loan approval. In the first few months after launch, roughly $260 million in loans were funded when Sierra was involved, and the agent was live with wholesale lending partners with full partner rollout expected shortly.
- Kiavi Added New Asset Classes and Market ReachThe Kiavi acquisition added residential transition loans and debt service coverage ratio loans, diversifying Figure beyond HELOC into a stated $200 billion-plus addressable market. Kiavi added around $8 billion of volume to the marketplace, and management described the acquisition as materially accretive with an under 4-year unlevered payback period.
- Kiavi Products Demonstrated Scale and Credit PerformanceKiavi's residential transition loan business generated roughly $600 million of volume in September, while its DSCR business generated roughly $60 million. Kiavi's residential transition loan underwriting technology had recorded roughly 50 basis points of annual losses over its 13-year history.
- Kiavi Integration Progressed Ahead of PlanKiavi closed ahead of schedule on September 1, its loans had been tokenized, and Figure had actioned over $30 million of initial cost synergies out of a $35 million run-rate cost synergy target. Figure had already onboarded 12 existing partners to Kiavi products and had over 30 more in the pipeline.
- Agentically Built DSCR Product Is Near LaunchFigure plans to launch a DSCR product built entirely agentically, with AI used from writing the code through reimagining the workflow. The company said it was closing loans within 2 to 3 weeks, planned to offer DSCR on a broker basis to existing customers later in the quarter, and planned to offer the full white-label Figure Connect option in the next quarter.
- Business Showed Resilience During Rising RatesDespite rapidly rising interest rates, Figure reported record volumes, continued 100% volume growth and record partner additions. Management said the company's more than 80% B2B mix was improving its sales motion because prospects wanted to add HELOC products, while the more than 70% Figure Connect mix further insulated the P&L from rate volatility.
- Capital Markets Activity and Investor Base ExpandedFigure processed $2.7 billion of loan sales and executed 8 securitizations in Q3. It added marquee AAA buyers including New York Life and Nationwide Insurance, brought new full-loan and securitized investors through Kiavi, and reported robust securitization and whole-loan activity with additional foreign demand.
- Strong Product and Funding FlexibilityFigure's median product velocity was 10 days, including the government-mandated 3-day loan decision period, compared with an average of 45 days for other lenders cited by management. The company said there was no friction in moving between whole-loan sales and securitizations and reported about 20 securitizations to date with many more expected.
- Prime and Third-Party Demand Continued to BuildPrime ended the quarter with $825 million of lender supply and $588 million of matched offers, including approximately $200 million of third-party borrow. Figure said the economics of Prime were roughly 50 basis points and that third-party demand, securitizations and ecosystem fees were expected to continue building.
- Credit Quality Remained StableCredit quality remained stable across the first three quarters of the year. Management said underwriting discipline and portfolio performance held consistent quarter-over-quarter even as volumes scaled at triple-digit rates.
- Balance Sheet and Liquidity Remained StrongFigure ended the quarter with $1.59 billion in cash and cash equivalents. It raised $600 million of rated unsecured debt in Q3 and was closing on a $465 million revolving credit facility. Management estimated that approximately 50% of adjusted EBITDA converted to cash inflow after income tax payments and interest expense on unsecured debt.
- Share Repurchase Authorization DoubledFigure expanded its share repurchase authorization from $200 million to $400 million, with the program starting the following day. Management said it would be opportunistic about repurchases, including beyond the initial $400 million program.
- Fourth-Quarter Volume Guidance Implied Continued GrowthQ4 loan marketplace volume guidance was established at $6.2 billion to $6.7 billion, with combined gross take rate guidance of 3.1% to 3.4%.
- On-Chain Financing and Stablecoin Infrastructure AdvancedFigure reported roughly $600 million financing HELOCs on chain at SOFR plus 120 and planned to launch a AAA ABS issuance on chain during the month. Its stablecoin YLDS was being used by 28 marketplace participants to reduce settlement cost and increase settlement speed.
- Expansion Opportunities Across Purchase, Auto and SMBManagement identified significant opportunity in purchase mortgages, auto and SMB. Figure cited a $200 billion addressable market for DSCR and residential transition loans, more than $500 billion of 2025 originations among its existing partners, an upcoming securitization with Agora in auto, and more than 150 SMB originators with additional products seeking capital-markets distribution.
- Navra Was Positioned as a Broader On-Chain Capital-Market InitiativeFigure's Executive Chairman said Navra was created to address institutional wallet, custody and enterprise-control issues that limit on-chain capital markets. Figure holds a direct 10% ownership stake in Navra, and management said Navra's success could bring additional on-chain capital for Figure loans.
FIGR Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Mar 04, 2027 | 2026 (Q4) | 0.29- | 0.06 | ― | ― |
| Nov 12, 2026 | 2026 (Q3) | 0.300.36 | 0.34 | 5.88% (+0.02) | |
| Aug 13, 2026 | 2026 (Q2) | 0.240.35 | 0.07 | 400.00% (+0.28) | |
| May 11, 2026 | 2026 (Q1) | 0.190.18 | ― | ― | |
| Feb 26, 2026 | 2025 (Q4) | 0.150.06 | ― | ― | |
| Nov 13, 2025 | 2025 (Q3) | 0.160.34 | 0.03 | 1033.33% (+0.31) |
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat Missed
