Figure Technology Solutions (FIGR) investor relations material

Executive summary

• Achieved record Consumer Loan Marketplace volume of $4.3 billion in Q2 2026, up 132% year-over-year, with Figure Connect now representing 65% of volume and over 100 new partners added, driving rapid expansion into new asset classes including SMB loans.

• Net revenue for Q2 2026 reached $225.6 million, up 113% year-over-year, and net income was $87.4 million, up 192%, with strong growth in loan origination, servicing, and technology fees.

• Announced the pending acquisition of Kiavi, Inc., funded by a $600 million senior notes offering, expected to close in the second half of 2026 and expand platform capabilities.

• Ecosystem and technology fees became the largest contributor to adjusted net revenue, rising over 158% year-over-year, driven by Figure Connect volume growth.

• Continued expansion of blockchain-based lending and digital asset marketplace platforms, with ecosystem and digital asset marketplace volumes more than doubling year-over-year.

Financial highlights

• Adjusted net revenue was $218 million, up 95% year-over-year; net revenue for Q2 2026 was $225.6 million, up 113%.

• Adjusted EBITDA reached $119 million, up 126% year-over-year, with a margin of 54.6%–55%.

• Net income was $87.4 million, up from $30 million a year ago, with a net income margin of 38.8%.

• Take rate was 3.6% in Q2 2026, at the low end of guidance, reflecting a mix shift to Figure Connect and higher first lien volume.

• Operations and processing costs fell to 67 basis points of volume, down from 79 basis points a year ago.

Outlook and guidance

• Q3 2026 Consumer Loan Marketplace volume guidance is $4.8–$5.2 billion, with July already at $1.7 billion.

• Kiavi acquisition expected to close in the second half of 2026, projected to add 40% to volume and $100 million of EBITDA.

• Medium-term Adjusted EBITDA margin target set at 60% for 2026–2028.

• Take rate expected to remain at the lower end of the 3.5–4% range due to ongoing mix shift.

• Liquidity position remains strong, with $1.4 billion in cash and equivalents and $2.0 billion in available debt capacity as of June 30, 2026.