Figure Technology Solutions, Inc. Class A (FIGR)
NASDAQ:FIGR
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Figure Technology Solutions, Inc. Class A
(NASDAQ:FIGR)
Select Model
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Rating:66Neutral
Price Target:
$38.00
▲(3.63% Upside)
Action:ReiteratedDate:03/17/26
The score is driven primarily by improved financial performance (strong 2025 growth/profitability and reduced leverage) and a supportive earnings-call outlook (continued scale and margin expansion targets, strong liquidity), partially offset by cash-flow inconsistency/volatility, weak-to-mixed technical signals (negative MACD and below key moving averages), and a very expensive valuation (P/E ~144.8).
Positive Factors
Revenue & gross margin expansion
A large 2025 step-up in revenue and exceptionally high gross margins underpin sustainable earnings power: 78.7% revenue growth and ~26% net margin indicate scalable unit economics and operating leverage that support durable profitability if volume and mix momentum persist.
Negative Factors
Uneven cash generation
Operating cash flow has been inconsistent, lagging reported profitability in prior years. Reliance on episodic securitizations, inventory timing and mix shifts can cause cash volatility, which constrains reinvestment and makes free cash flow less predictable despite recent improvement.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue & gross margin expansion
A large 2025 step-up in revenue and exceptionally high gross margins underpin sustainable earnings power: 78.7% revenue growth and ~26% net margin indicate scalable unit economics and operating leverage that support durable profitability if volume and mix momentum persist.
Read all positive factors
Figure Technology Solutions, Inc. Class A (FIGR) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$8.00B
Dividend YieldN/A
Average Volume (3M)5.61M
Price to Earnings (P/E)69.8
Beta (1Y)1.61
Revenue GrowthN/A
EPS GrowthN/A
CountryUS
Employees530
SectorFinancial
Sector Strength70
IndustryFinancial - Capital Markets
Share Statistics
EPS (TTM)0.06
Shares Outstanding181,663,010
10 Day Avg. Volume4,581,128
30 Day Avg. Volume5,609,150
Financial Highlights & Ratios
PEG Ratio0.06
Price to Book (P/B)7.61
Price to Sales (P/S)18.44
P/FCF Ratio149.39
Enterprise Value/Market Cap0.70
Enterprise Value/Revenue11.01
Enterprise Value/Gross Profit12.64
Enterprise Value/Ebitda29.98
Forecast
1Y Price Target
$54.71Price Target Upside49.21% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering7
EPS Forecast (FY)0.92
Revenue Forecast (FY)$721.10M
Figure Technology Solutions, Inc. Class A Business Overview & Revenue Model
Company Description
Figure Technology Solutions, Inc. develops and operates a blockchain-based consumer lending platform. The company offers a suite of blockchain-based solutions for its marketplaces, including lending, trading, and investing activities. It serves th...
How the Company Makes Money
Public, verifiable detail on Figure Technology Solutions, Inc. Class A (FIGR)’s specific revenue model and revenue line items is not available in the provided prompt context. null...
Figure Technology Solutions, Inc. Class A Earnings Call Summary
Earnings Call Date:Feb 26, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 11, 2026
Earnings Call Sentiment Positive
The call emphasized substantial top-line and margin momentum: marketplace volume grew 131% YoY, adjusted EBITDA rose ~426% YoY with margin expansion, Democratized Prime and YIELDS showed rapid adoption, and Figure Connect now represents a majority of volume. Strategic partnerships (Agora, Newtek), on-chain innovations (OPEN, YIELDS), and strong liquidity ($1.2B cash) support continued growth. Headwinds include a data security incident, mix-driven pressure on net take rates, one-time share-based expenses, and temporary balance-sheet timing as new product categories season and securitize. Overall, the positive operational and financial momentum materially outweighs the challenges noted on the call.Positive Updates
Strong Marketplace Volume Growth
Consumer loan marketplace volume reached $2.7B in Q4, up 131% year-over-year, driven by partner expansion (307 partners) and growth in newer product categories (SMB and DSCR).
Negative Updates
Security Incident — Data Exposure
A targeted phishing attack impacted loan inquiry records and a limited number of customer accounts; approximately 12,400 individuals had names, loan numbers, addresses, dates of birth and Social Security numbers exposed. Company states blockchain systems were not compromised and the incident is not expected to be material to financial results, but remediation and notifications are underway.
Read all updates
Q4-2025 Updates
Positive
Negative
Strong Marketplace Volume Growth
Consumer loan marketplace volume reached $2.7B in Q4, up 131% year-over-year, driven by partner expansion (307 partners) and growth in newer product categories (SMB and DSCR).
Read all positive updates
Company Guidance
The company’s forward guidance emphasized continued margin and scale improvements: management expects net take rates in a 3.5%–4.0% range, a medium‑term adjusted EBITDA margin above 60% (Q4 adjusted EBITDA was $81.3M, up ~426% YoY, and margin 51.6%), and stock‑based compensation to normalize to about $21M over the next few quarters; operational targets tied to growth include scaling Connect (54% of Q4 volume) and Democratized Prime (matched offers ~10x QoQ from $20M to >$200M, Prime balance $206M), expanding first‑lien mix (now ~19% of originations, up from 12% a year ago), and accelerating YIELDS adoption (YIELDS circulation $328M, up >20x since Q3 and approaching $0.5B); balance sheet and liquidity posture remains strong with ~$1.2B cash, loans held for sale ~$44M (up $15M QoQ) and a $200M share repurchase authorization, while seasonality (Nov–Feb soft) implies a normal Q1 trough with higher activity expected in March.Figure Technology Solutions, Inc. Class A Financial Statement Overview
Summary
Income Statement
86
Very Positive
Balance Sheet
80
Positive
Cash Flow
55
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 |
|---|---|---|---|
Income Statement | |||
| Total Revenue | 506.87M | 279.31M | 166.89M |
| Gross Profit | 441.81M | 257.74M | 148.17M |
| EBITDA | 178.80M | 95.62M | 16.24M |
| Net Income | 133.86M | 17.21M | -47.94M |
Balance Sheet | |||
| Total Assets | 2.32B | 1.16B | 660.07M |
| Cash, Cash Equivalents and Short-Term Investments | 1.20B | 365.12M | 122.41M |
| Total Debt | 165.13M | 688.59M | 414.99M |
| Total Liabilities | 1.08B | 796.20M | 437.64M |
| Stockholders Equity | 1.23B | 355.10M | 217.07M |
Cash Flow | |||
| Free Cash Flow | 62.57M | -152.64M | -46.13M |
| Operating Cash Flow | 62.57M | -136.01M | -28.87M |
| Investing Cash Flow | -61.27M | -30.86M | -22.11M |
| Financing Cash Flow | 918.04M | 336.12M | 65.79M |
Figure Technology Solutions, Inc. Class A Risk Analysis
Figure Technology Solutions, Inc. Class A disclosed 124 risk factors in its most recent earnings report. Figure Technology Solutions, Inc. Class A reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Figure Technology Solutions, Inc. Class A Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
66 Neutral | $8.00B | 69.83 | 16.98% | ― | ― | ― | |
53 Neutral | $6.92B | -1.92 | -107.05% | ― | 48.04% | -1546.55% | |
51 Neutral | $107.51M | -2.63 | -32.04% | 1.65% | 311.39% | -1098.01% | |
50 Neutral | $1.28B | -9.98 | -52.95% | ― | 608.29% | 71.80% | |
46 Neutral | $512.73M | -60.68 | -11.98% | ― | 5.10% | -242.85% | |
45 Neutral | $25.57M | -0.21 | 424.23% | ― | -32.92% | 53.41% |
* Financial Sector Average
FIGR
Figure Technology Solutions, Inc. Class A
36.45
3.95
12.15%
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Figure Technology Solutions, Inc. Class A Corporate Events
Business Operations and StrategyPrivate Placements and FinancingRegulatory Filings and Compliance
Figure Technology Launches Blockchain Stock and Secondary Offering
Positive
Feb 19, 2026
On February 12, 2026, Figure Technology Solutions, Inc. established a new Series A Blockchain Common Stock under Nevada law, giving it dividend, voting and liquidation rights that are generally on parity with its existing Class A common stock, whi...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.