FinanceFigure's Revenue Surges as Blockchain Loan Marketplace Expands
Company reports $226 million in quarterly revenue as loan marketplace volume hits $4.3 billion.
By Krisztian Sandor|Edited by Cheyenne Ligon38 min ago2 min readMake preferred on ShareShare this articleCopy linkX (Twitter)LinkedInFacebookEmailMake preferred on
Mike Cagney, executive chairman of Figure, at Consensus Miami 2026 (CoinDesk)Summary- Figure's revenue for Q2 rose to $226 million, more than doubling from the previous year, while net income increased nearly threefold to $87 million.
- The volume in the Consumer Loan Marketplace soared by 132% to $4.3 billion, with Figure Connect facilitating about two-thirds of this amount.
- Shares of FIGR experienced a 5% increase in premarket trading on Thursday, following a 10% rise the day prior.
Figure Technology Solutions (FIGR), co-founded by former SoFi CEO Mike Cagney, has reported a substantial increase in revenue for the second quarter, driven by a surge in lending activities within its marketplace.
For the quarter ending June 30, the company achieved $226 million in net revenue, reflecting a 113% increase year-over-year. Net income reached $87 million, a 192% rise, translating to 35 cents per diluted share, while adjusted EBITDA more than doubled to $119 million.
This growth stemmed from the company's Consumer Loan Marketplace, which reported a volume of $4.3 billion, marking a 132% increase from the previous year. Of this total, Figure Connect, the platform linking loan originators to capital providers, contributed $2.8 billion, which is approximately 65% of the overall volume.
In premarket trading on Thursday, FIGR shares saw an increase of around 5%, building on the 10% gain from the previous day.
Figure stands out as a prominent publicly traded entity working to transition lending and capital market operations to blockchain technology. The platform effectively connects loan originators with investors, utilizing blockchain to manage the origination, financing, and trading of various assets, including home-equity loans.
During the quarter, the company added 102 new loan-origination partners, raising the total to 489, which includes mortgage lenders, banks, and fintech companies. CEO Michael Tannenbaum noted that weekly loan applications exceeded $1 billion in July.
Figure's on-chain offerings also saw growth, with the circulation of its yield-bearing stablecoin, YLDS, increasing to $556 million by the end of June, up from $328 million at the conclusion of 2025. Additionally, borrowing through its Democratized Prime marketplace reached approximately $170 million as of August 6.
Looking ahead to the third quarter, Figure anticipates Consumer Loan Marketplace volume to fall between $4.8 billion and $5.2 billion.
The company's acquisition of real estate lender Kiavi is progressing and is expected to finalize in the second half of 2026, which would allow Figure to expand into related real estate lending sectors and enhance its marketplace offerings.
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