GET DAILY SIGNALSFigure Technology Solutions (FIGR) Reports Strong Q3 with +84% Revenue Growth
Key Takeaways
- Figure Technology Solutions reported third-quarter 2026 diluted earnings per share (EPS) of $0.36, beating consensus estimates of roughly $0.27–$0.28.
- Net revenue climbed 84% year over year to $287.1 million, while adjusted net revenue rose 83% to $283.3 million.
- Loan Marketplace Volume surged 135% year over year to $5.8 billion, including $677 million contributed by the recently acquired Kiavi platform.
- Adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) increased 91% to $163.6 million, with margin expanding to 58%.
- Take rates declined as capital-light Figure Connect volume grew, while the company issued fourth-quarter volume guidance of $6.2 billion to $6.7 billion.
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Earnings Context and Why It Matters
FIGR operates a blockchain-native capital marketplace that connects loan origination, funding, and secondary-market trading. The third-quarter report serves as an important check on whether its capital-light, fee-driven model can continue scaling amid rising interest rates and shifting mortgage demand. Earlier periods showed triple-digit volume growth, and the September 1, 2026 acquisition of Kiavi brings in a fresh investor-focused lending segment. I’m watching closely to see if rapid volume expansion converts into lasting profitability as the mix shifts toward lower take-rate Figure Connect activity. This release tests the company’s growth strategy and margin path in a meaningful way. I also checked this using Tickeron’s AI Screener to see how the stock compares to others in the industry.
Reported Results
For the quarter ended September 30, 2026, FIGR reported diluted EPS of $0.36, above the consensus estimate of approximately $0.27–$0.28. Net revenue reached $287.1 million, up 84% year over year, while adjusted net revenue grew 83% to $283.3 million.
Loan Marketplace Volume rose 135% to $5.8 billion, including $677 million from Kiavi after the acquisition closed. Figure Connect Volume jumped 276% to $4.3 billion, representing 72% of standalone volume. Net income was $89.3 million, roughly flat versus $89.8 million a year earlier, with net income margin declining to 31% from 57% because the prior-year quarter included a one-time $31 million tax benefit. Adjusted EBITDA climbed 91% to $163.6 million, with margin expanding to 58% from 55%.
The company’s Gross Take Rate declined to 3.9% from 5.2% a year earlier, while Net Take Rate fell to 3.5% from 4.4%, reflecting the growing mix of capital-light Figure Connect volume. Ecosystem and technology fees rose 208% to $109.8 million.
Market Reaction and Investor Sentiment
Shares of FIGR rose nearly 6% in early trading on November 12, 2026, after the company topped estimates and delivered record marketplace volume, with the stock up more than 7% in premarket activity. Investors responded positively to the earnings beat, the surge in Figure Connect volume, and the company’s fourth-quarter outlook. The resilience of the investor side of the marketplace, including $2.7 billion in loan sales and eight securitizations during the quarter, also reinforced confidence in the model amid rising interest rates. The decline in take rates remained a focal point, but the market appeared to prioritize volume growth and margin expansion over per-unit monetization compression.
Forward Outlook and Key Factors to Monitor
Looking ahead, FIGR guided fourth-quarter Loan Marketplace Volume of $6.2 billion to $6.7 billion and a Gross Take Rate of 3.1% to 3.4%. Management signaled that 2027 will emphasize upselling existing partners and expanding product offerings, particularly following the Kiavi integration.
Investors should monitor whether Figure Connect’s capital-light mix continues to compress take rates while still driving absolute revenue and adjusted EBITDA growth. The company’s progress toward roughly 60% EBITDA margins, the pace of Kiavi cost synergies (with $30 million already actioned), and the onboarding of large institutional partners will be key indicators of execution.
Additional factors to watch include the expansion of the YLDS stablecoin settlement network, now with 28 marketplace participants, the growth of small- and medium-business lending beyond its $500 million run-rate, and the impact of the board’s $200 million increase to the share repurchase authorization, bringing the total to $400 million. With $1.59 billion in cash and equivalents, the company retains flexibility to fund continued platform expansion.
Using Tickeron’s AI Screener in My Research
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Contributor
Sergey Savastiouk, Ph.D. has a degree in Applied Mathematics from Moscow University and has extensive experience as an entrepreneur, investor, manager, and mathematician. His professional expertise is in applied mathematics, mathematical modeling, system and pattern analysis, and software and hardware system integration. He has served as the CEO of several hi-tech start-up companies and nonprofit organizations, which has given him proven capabilities in business strategy for high-tech start-up companies, market assessment, company formation, team building, product development, marketing, and sales. He has published numerous articles in journals and magazines on related fields. As a retail investor, he spent 15 years developing his proprietary trading and quantitative algorithms (now Tickeron’s A.I.), which brought him significant returns in trading the stock market. His current work and goal in founding Tickeron is to bring professional, sophisticated stock market analysis capabilities to retail investors via an easy-to-use interface.
FIGR's RSI Oscillator recovers from oversold territory
The RSI Indicator for FIGR moved out of oversold territory on November 02, 2026. This could be a sign that the stock is shifting from a downward trend to an upward trend. Traders may want to buy the stock or call options. The A.I.dvisor looked at 9 similar instances when the indicator left oversold territory. In 9 of the 9 cases the stock moved higher. This puts the odds of a move higher at 90%.
Technical Analysis (Indicators)
Bullish Trend Analysis
The Momentum Indicator moved above the 0 level on November 09, 2026. You may want to consider a long position or call options on FIGR as a result. In 18 of 19 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are 90%.
The Moving Average Convergence Divergence (MACD) for FIGR just turned positive on November 04, 2026. Looking at past instances where FIGR's MACD turned positive, the stock continued to rise in 4 of 6 cases over the following month. The odds of a continued upward trend are 67%.
Following a +9.98% 3-day Advance, the price is estimated to grow further. Considering data from situations where FIGR advanced for three days, in 39 of 48 cases, the price rose further within the following month. The odds of a continued upward trend are 81%.
Bearish Trend Analysis
The Stochastic Oscillator demonstrated that the ticker has stayed in the overbought zone for 3 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where FIGR declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 84%.
FIGR broke above its upper Bollinger Band on November 12, 2026. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
The Aroon Indicator for FIGR entered a downward trend on November 13, 2026. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
Fundamental Analysis (Ratings)
The Tickeron SMR rating for this company is 34 (best 1 - 100 worst), indicating strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Seasonality Score of 58 (best 1 - 100 worst) indicates that the company is fair valued in the industry. The Tickeron Seasonality score describes the variance of predictable price changes around the same period every calendar year. These changes can be tied to a specific month, quarter, holiday or vacation period, as well as a meteorological or growing season.
The Tickeron Price Growth Rating for this company is 75 (best 1 - 100 worst), indicating slightly worse than average price growth. FIGR’s price grows at a lower rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Valuation Rating of 82 (best 1 - 100 worst) indicates that the company is slightly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (3.608) is normal, around the industry mean (3.120). P/E Ratio (20.194) is within average values for comparable stocks, (6.734). Projected Growth (PEG Ratio) (0.000) is also within normal values, averaging (0.809). Dividend Yield (0.034) settles around the average of (8.976) among similar stocks. P/S Ratio (10.582) is also within normal values, averaging (16.899).
The Tickeron PE Growth Rating for this company is 96 (best 1 - 100 worst), pointing to worse than average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Profit vs. Risk Rating rating for this company is 100 (best 1 - 100 worst), indicating that the returns do not compensate for the risks. FIGR’s unstable profits reported over time resulted in significant Drawdowns within these last five years. A stable profit reduces stock drawdown and volatility. The average Profit vs. Risk Rating rating for the industry is 88, placing this stock worse than average.
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