Figure Technology Solutions, Inc. Class A Common Stock

Figure Technology Solutions announced a partnership with Sierra on September 10 to deploy an AI agent aimed at recovering home equity loan applications that stall before closing. The Mortgage Bankers Association found that only 49% of home equity applications closed in 2024, even as HELOC volume hit $271 billion in 2025, leaving a gap Figure wants its new agent to close in a $2 trillion industry. The Figure Agent, built on Sierra's newly launched Horizon platform, marks the first U.S. use of a system designed to let AI work for days on complex, revenue-generating tasks rather than simple customer support, following up by voice and text on credit checks, identity verification, and bank account linking before handing borrowers to a human loan officer. Figure and Sierra reported that stalled applicants who engaged with the agent moved through those friction points at a 30% to 52% higher rate than those who did not and funded 67% more loan volume overall, while pairing the agent with a loan officer produced a 143% lift in funded loan conversion compared with loan officers working alone. The AI push arrives on top of a business already growing fast: on August 13, 2026, Figure reported second-quarter Consumer Loan Marketplace volume of $4.3 billion, up 132% year over year, net revenue up 113% to $226 million, and net income more than doubled to $87 million, with 102 origination partners added in the quarter for a total of 489 and third-quarter guidance of $4.8 billion to $5.2 billion. Even so, Figure's net take rate slipped to 3.6% in the second quarter from 4.0% a year earlier, hedge fund ownership fell to 32 funds from 51 the quarter before, and short interest sits at 6.53% of the float, leaving the market to weigh whether the AI-driven conversion gains will last beyond a single pilot.

Figure Technology Solutions, a Nasdaq-listed fintech, has completed its acquisition of Kiavi, a large U.S. non-bank real estate lender, integrating it into its blockchain-powered credit marketplace. The deal expands Figure's reach in real estate credit and brings Kiavi's lending technology and leadership into the combined platform, adding scale and a broader range of real estate-focused products to Figure's blockchain-native financial services offering. With a market cap of about $8.1 billion, Figure operates as a fintech platform rather than a traditional bank, and the acquisition supports its push into tokenized real-world credit, especially in home equity and first-lien products. Kiavi's CEO, Arvind Mohan, will join as Chief Business Officer, and investors will watch upcoming earnings for progress on Kiavi's on-chain loan volumes and partner programs under his leadership.

Figure Technology Solutions reported second quarter 2026 results showing consumer loan marketplace volume reached $4.3 billion, up 132% from a year earlier and 4% ahead of the top end of guidance. Adjusted net revenue climbed 95% year over year to $218 million, while adjusted EBITDA rose 126% to $119 million, pushing the margin to 55% from 47% a year earlier. Net income jumped to $87 million from $30 million. Figure Connect, the company's capital-light marketplace, drove much of the lift, with its volume climbing to 65% of total marketplace volume, up from 42% a year ago, and management now expects that share to approach 70% in the medium term. The company also announced a pending acquisition of Kiavi, a residential transition loan lender, expected to add 40% to volume and $100 million of EBITDA with a payback period under four years.

Figure Technology Solutions reported record second-quarter 2026 results, with consumer loan marketplace volume of $4.3 billion, up 132% year-over-year and 4% above the top end of guidance. Adjusted net revenue rose 95% to $218 million, while adjusted EBITDA climbed 126% to $119 million, representing a 55% margin. Figure Connect, the company's tokenized loan marketplace, grew to 65% of total volume from 42% a year ago, and the company now has 489 partners, up 102 from the prior quarter. Net income was $87 million, up from $30 million a year earlier, and the company guided third-quarter volume to between $4.8 billion and $5.2 billion. The company also said its acquisition of Kiavi is on track to close in the second half of the year.

Treasury Secretary Scott Bessent said the Clarity Act is at the '1-yard line', urging Congress to pass the landmark bill before recess, which sent bitcoin and other cryptocurrencies higher on Tuesday. Bitcoin rose 2.08% to $66,559, Ethereum added 1.00% to $1,922, and Dogecoin gained 1.62% to $0.073. Crypto stocks surged, with Cipher Digital up 18.01% to $24.24, Coinbase Global up 11.70% to $179.20, Riot Platforms up 8.64% to $21.62, Robinhood Markets up 8.58% to $107.80, MARA Holdings up 8.10% to $12.62, Circle Internet Group up 7.90% to $70.62, Hut 8 up 7.81% to $108.81, CleanSpark up 7.66% to $15.53, Bullish up 6.83% to $24.24, Figure Technology Solutions up 6.31% to $32.34, Bakkt up 5.22% to $8.26, IREN up 4.71% to $42.10, Gemini Space Station up 4.33% to $4.70, and Strategy up 3.67% to $101.41.

Figure Technology Solutions has priced a $600 million private offering of 8.500% senior notes due in 2031. The notes are being sold at their full principal amount, with the transaction expected to close on July 14, generating approximately $587.5 million in net proceeds after discounts, commissions, and offering expenses. The company intends to use the funds primarily to cover the cash consideration for its acquisition of Kiavi, an AI-powered platform for residential real estate investors, with remaining proceeds allocated toward general corporate purposes and fees associated with the note issuance. The completion of the debt offering is not contingent upon the finalization of the Kiavi acquisition. The notes are guaranteed on a joint and several basis by certain wholly-owned domestic subsidiaries and were offered exclusively to qualified institutional buyers and non-US persons in compliance with applicable regulations.

Figure Technology Solutions reported preliminary unaudited operating data for June and the second quarter of 2026 that exceeded the top end of its previously issued guidance ranges. Consumer Loan Marketplace Volume reached $1,519 million in June, up 8% from May and 155% year-over-year, while second-quarter volume hit $4,259 million, a 47% sequential increase and 132% higher than the same period last year. The company also disclosed metrics for its newer products, including $YLDS in Circulation at $556 million and Democratized Prime Matched Offers Balance at $392 million as of June 30. Figure is transitioning to near-real-time operational transparency, with comprehensive metrics now available on a weekly dashboard updated every Tuesday.

Figure Technology Solutions reported strong first-quarter 2026 results, with Consumer Loan Marketplace volume jumping 113% year-over-year to $2.9 billion. Net revenue rose 98% to $167 million, net income reached $45 million, and adjusted EBITDA climbed 192% to $83 million. The company added a record 80 new partners, including Flagstar Bank, and its Figure Connect platform accounted for 56% of consumer loan marketplace volume. Figure Technology ended the quarter with $1.5 billion in cash and cash equivalents and announced Figure Forge, a platform to fractionalize whole loans into liquid units.