Figure Technology Solutions (FIGR) Q2 2026 earnings summary

Executive summary

• Achieved record growth with Consumer Loan Marketplace volume up 132% year-over-year to $4.3 billion and net revenue up 113% for Q2 2026.

• Figure Connect now represents 65% of marketplace volume, up from 56% last quarter, and weekly applications surpassed $1 billion in July.

• Added over 100 origination partners, bringing the total to 489, with broad-based growth across segments.

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

• Strong adoption of AI and blockchain technologies to drive operational efficiency and standardization.

Financial highlights

• Net revenue for Q2 2026 was $226 million, up 113% year-over-year; adjusted net revenue was $218 million, up 95%.

• Net income rose 192% to $87.4 million, with a net income margin of 38.8%.

• Adjusted EBITDA increased 126% to $119 million, with a margin of 54.6%.

• Securitized collateral base nearly doubled to $7.7 billion year-over-year.

• Ecosystem and technology fees became the largest contributor to adjusted net revenue, rising 159% year-over-year.

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, adding 40% to volume and $100 million 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 in Q3.