Figure Technology Solutions (FIGR) Registration Filing summary

Company overview and business model

• Operates a blockchain-based platform for lending, trading, and investing, focusing on consumer credit and digital assets.

• Offers a proprietary loan origination system (LOS), Figure Connect marketplace, and digital asset exchange.

• Revenue is generated from technology and ecosystem fees, origination, gain on sale, and servicing of loans.

• Expanded into stablecoin issuance (YLDS) and digital asset trading, with regulatory compliance as a key differentiator.

• Partner-branded and Figure-branded strategies drive loan origination, with 246 active partners as of September 2025.

Financial performance and metrics

• Net revenue for the nine months ended September 30, 2025: $347M; net income: $119M; Adjusted EBITDA: $170M.

• Net revenue for 2024: $341M; net income: $20M; Adjusted EBITDA: $101M.

• Total assets as of September 30, 2025: $2.16B; stockholders' equity: $1.18B.

• Ecosystem volume for the nine months ended September 30, 2025: $6.04B; Consumer Loan Marketplace Volume: $5.67B.

• HELOCs comprised over 99% of total loan originations in the latest period.

Use of proceeds and capital allocation

• Proceeds from the sale of blockchain stock are used to repurchase Class A common stock from underwriters, up to $30M.

• Net proceeds from the September 2025 IPO ($663.4M) are allocated to general corporate purposes, including working capital, operating expenses, and capital expenditures.