FIGR on Nasdaq
Figure Technology Solutions, Inc.
Figure is building the future of capital markets using blockchain-based technology.5 From its latest annual report
Price unavailable
Last updated Oct 19, 2026.
Overview
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- TickerFIGR on Nasdaq2
- IndustryLoan Brokers2
- HeadquartersCarson City, United States2
- Incorporated inDE4
- Business address100 West Liberty St., Suite 600, Reno, Nv 100184
- Filer category, Emerging growth company4
- Legal formCorporation2
- LEI529900N4VMAE3O27FV772
- StatusActive2
- LEI statusIssued and current2
- Registered addressc/o CORPORATION SERVICE COMPANY, 112 NORTH CURRY STREET, 89703 Carson City, United States2
- Registered withBusiness Center (Secretary of State), E48533662025-42
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Figure is building the future of capital markets using blockchain-based technology.5 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
23.2%Operating margin3
26.4%Net margin3
48.7%Revenue growth, 20253
10.9%Return on equity3
0.19×Debt to equity3
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Products and services
Ecosystem and Technology Fees Including Program Fees brought in 35% of the revenue Figure Technology Solutions, Inc. broke down this way in fiscal 2025.
Products and services by year
| Products and services | 2023 | 2024 | 2025 |
|---|---|---|---|
| Ecosystem and Technology Fees Including Program Fees | $10.6M | $28.3M | $120.8M |
| Ecosystem and Technology Fees | $10.2M | $20.3M | $107.5M |
| Ecosystem Fees | $0 | $122.0K | $56.8M |
| Technology Offering Fees | $10.2M | $20.2M | $50.6M |
| Program Fees | $413.0K | $8.0M | $13.3M |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Research and development13¢$64.9M
- Other costs57¢$287.5M
- Income tax4¢$20.6M
- Profit26¢$133.9M
Out of $506.9M in revenue.3
Where each dollar of operating cash went, fiscal 2025
- Kept or used elsewhere100¢$62.6M
Out of $62.6M of cash from operations.3
Financial statements
Every line of the income statement as filed: the last 3 fiscal years, latest first.3
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Ecosystem and technology fees | $120.8M | $28.3M | $10.6M |
| Servicing fees | $31.5M | $25.2M | $18.6M |
| Interest income | $74.8M | $48.2M | $48.2M |
| Origination fees | $72.5M | $64.9M | $58.5M |
| Gain on sale of loans, net | $180.0M | $140.4M | $50.3M |
| Gain on servicing asset, net | $24.6M | $32.6M | $22.1M |
| Other revenue | $2.6M | $1.3M | $1.2M |
| Total net revenue | $506.9M | $340.9M | $209.5M |
| General and administrative | $132.0M | $104.3M | $58.8M |
| Technology and product development | $64.9M | $62.7M | $49.2M |
| Operations and processing | $65.1M | $44.5M | $38.9M |
| Sales and marketing | $76.1M | $55.7M | $52.8M |
| Interest expense | $48.9M | $56.4M | $49.2M |
| Other expense | $2.4M | $8.2M | $10.1M |
| Total expenses | $389.3M | $331.6M | $259.0M |
| Operating income (loss) | $117.5M | $9.2M | -$49.4M |
| Other (expense) income, net | -$3.9M | $12.9M | -$2.9M |
| Income (loss) before income taxes | $113.7M | $22.1M | -$52.3M |
| Income tax (benefit) provision | -$20.6M | $2.2M | $102.0K |
| Net income (loss) | $134.3M | $19.9M | -$52.4M |
| Net income (loss) attributable to noncontrolling interests in consolidated subsidiaries | $423.0K | $2.7M | -$4.5M |
| Net income (loss) attributable to Figure Technology Solutions, Inc. | $133.9M | $17.2M | -$47.9M |
| Basic (USD per share) | $0.54 | $0.00 | -$0.93 |
| Diluted (USD per share) | $0.44 | $0.00 | -$0.93 |
| Basic (in shares) | 114.4M shares | 65.0M shares | 51.3M shares |
| Diluted (in shares) | 141.8M shares | 72.6M shares | 51.3M shares |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.3
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $1.2B | $289.7M | ||
| Restricted cash | $68.6M | $57.8M | ||
| Loans held for sale, at fair value | $404.3M | $395.9M | $255.5M | |
| Digital assets ($84,867 and $73,942 at fair value) | $96.6M | $75.4M | ||
| Accounts receivable, net | $52.0M | $21.0M | ||
| Other current assets | $41.5M | $14.9M | ||
| Total current assets | $1.9B | $854.7M | ||
| Loan servicing asset, at fair value | $113.1M | $88.5M | $55.9M | |
| Marketable securities, at fair value | $273.2M | $163.5M | ||
| Digital assets, non-current | $3.6M | $9.7M | ||
| Loan to related parties | $0 | $9.4M | ||
| Deferred income taxes, net | $26.0M | $0 | ||
| Other non-current assets | $40.4M | $33.8M | ||
| Total assets | $2.3B | $1.2B | ||
| Accounts payable and accrued liabilities | $29.5M | $37.2M | ||
| Payables to third-party loan owners | $383.8M | $212.6M | ||
| Other current liabilities | $105.6M | $70.4M | ||
| Total current liabilities | $846.0M | $625.5M | ||
| Debt, non-current | $230.1M | $167.9M | ||
| Lease liability, non-current | $4.2M | $2.8M | ||
| Total liabilities | $1.1B | $796.2M | ||
| Additional paid-in capital | $1.4B | $675.9M | ||
| Accumulated deficit | -$187.0M | -$320.9M | ||
| Total Figure Technology Solutions, Inc. stockholders' equity | $1.2B | $355.1M | ||
| Noncontrolling interests in consolidated subsidiaries | $8.4M | $8.3M | ||
| Total stockholders' equity | $1.2B | $363.4M | $222.4M | $260.2M |
| Total liabilities and stockholders' equity | $2.3B | $1.2B | ||
| Digital asset, fair value | $84.9M | $73.9M | ||
| Preferred stock, shares issued (in shares) | 0 shares | 0 shares | ||
| Preferred stock, shares outstanding (in shares) | 0 shares | 0 shares |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $1.2B | $289.7M | ||
| Restricted cash | $68.6M | $57.8M | ||
| Loans held for sale, at fair value | $404.3M | $395.9M | $255.5M | |
| Digital assets ($84,867 and $73,942 at fair value) | $96.6M | $75.4M | ||
| Accounts receivable, net | $52.0M | $21.0M | ||
| Other current assets | $41.5M | $14.9M | ||
| Total current assets | $1.9B | $854.7M | ||
| Loan servicing asset, at fair value | $113.1M | $88.5M | $55.9M | |
| Marketable securities, at fair value | $273.2M | $163.5M | ||
| Digital assets, non-current | $3.6M | $9.7M | ||
| Loan to related parties | $0 | $9.4M | ||
| Deferred income taxes, net | $26.0M | $0 | ||
| Other non-current assets | $40.4M | $33.8M | ||
| Total assets | $2.3B | $1.2B | ||
| Accounts payable and accrued liabilities | $29.5M | $37.2M | ||
| Payables to third-party loan owners | $383.8M | $212.6M | ||
| Other current liabilities | $105.6M | $70.4M | ||
| Total current liabilities | $846.0M | $625.5M | ||
| Debt, non-current | $230.1M | $167.9M | ||
| Lease liability, non-current | $4.2M | $2.8M | ||
| Total liabilities | $1.1B | $796.2M | ||
| Additional paid-in capital | $1.4B | $675.9M | ||
| Accumulated deficit | -$187.0M | -$320.9M | ||
| Total Figure Technology Solutions, Inc. stockholders' equity | $1.2B | $355.1M | ||
| Noncontrolling interests in consolidated subsidiaries | $8.4M | $8.3M | ||
| Total stockholders' equity | $1.2B | $363.4M | $222.4M | $260.2M |
| Total liabilities and stockholders' equity | $2.3B | $1.2B | ||
| Digital asset, fair value | $84.9M | $73.9M | ||
| Preferred stock, shares issued (in shares) | 0 shares | 0 shares | ||
| Preferred stock, shares outstanding (in shares) | 0 shares | 0 shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.3
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net income (loss) | $134.3M | $19.9M | -$52.4M |
| Gain on servicing asset, net | -$24.6M | -$32.6M | -$22.1M |
| Gain on sale of loans, net | -$173.7M | -$140.4M | -$50.3M |
| Loss (gain) on sale of digital assets | $3.2M | -$10.4M | -$4.7M |
| Income (loss) from fund and equity method investments | $1.2M | -$3.5M | $8.2M |
| Amortization of deferred financing costs | $1.0M | $1.0M | $330.0K |
| Amortization of internally developed software | $16.3M | $17.1M | $19.4M |
| Impairment of internally developed software costs | $0 | $8.6M | $0 |
| Impairment of digital assets | $0 | $5.9M | $572.0K |
| Other asset impairment charge | $0 | $5.0M | $0 |
| Services exchanged for issuance of warrants | $9.5M | $6.6M | $0 |
| Noncash dissolution of subsidiary | $0 | $0 | $402.0K |
| Stock-based compensation expense | $62.4M | $38.7M | $13.4M |
| Losses on repurchased loans | $2.4M | $8.2M | $10.1M |
| Deferred income taxes, net | -$26.0M | $0 | $0 |
| Proceeds from loan sales, net of repurchases | $6.6B | $4.7B | $3.3B |
| Originations of loans held for sale | -$3.6B | -$3.2B | -$2.0B |
| Purchases of loans held for sale | -$3.3B | -$2.0B | -$1.5B |
| Principal payments on loans held for sale | $429.2M | $422.9M | $315.3M |
| Accounts receivable, net | -$33.0M | -$3.7M | -$7.1M |
| Other assets | -$28.1M | -$11.4M | $7.7M |
| Accounts payable and other liabilities | -$38.9M | $14.1M | -$4.4M |
| Net cash provided by (used in) operating activities | $62.6M | -$127.0M | -$33.4M |
| Capitalization of internally developed software costs | -$20.6M | -$16.6M | -$17.3M |
| Investment contributions | -$2.5M | -$3.3M | $0 |
| Purchases of digital assets | -$5.7M | -$11.6M | -$817.0K |
| Proceeds from sales of digital assets | $11.3M | $3.3M | $0 |
| Note receivable issued to related parties | $0 | -$2.0M | -$4.0M |
| Payment on note receivable from related parties | $0 | $809.0K | $0 |
| Realized losses on futures | -$6.3M | $0 | $0 |
| Purchases of marketable securities | -$102.2M | -$25.2M | $0 |
| Proceeds from sale of marketable securities | $0 | $872.0K | $602.0K |
| Principal payments on marketable securities | $63.9M | $15.3M | $3.9M |
| Other investing activities | $797.0K | $1.0M | $0 |
| Net cash used in investing activities | -$61.3M | -$37.4M | -$17.6M |
| Payments of deferred financing costs | -$1.3M | -$2.1M | -$616.0K |
| Proceeds from issuance of common stock in connection with initial public offering, net of underwriting discounts and commissions | $663.4M | $0 | $0 |
| Proceeds from servicing activity on behalf of third-party loan owners | $167.2M | $81.9M | $53.0M |
| Fees paid in connection with the initial public offering | -$8.8M | $0 | $0 |
| Net Proceeds from issuance of preferred stock | $0 | $71.8M | $0 |
| Distributions to shareholders | $0 | -$2.8M | $0 |
| Common stock repurchase and retirement | $0 | -$1.0M | $0 |
| Proceeds from exercises of stock options | $12.8M | $3.0M | $1.1M |
| Other financing activities | -$160.0K | $248.0K | -$345.0K |
| Net cash provided by financing activities | $918.0M | $336.1M | $65.8M |
| Net increase in cash, cash equivalents, and restricted cash | $919.3M | $171.7M | $14.8M |
| Cash paid during the period for interest | $49.9M | $55.1M | $44.8M |
| Cash paid during the period for income taxes | $10.4M | $48.0K | $30.0K |
| Non-cash principal payments on debt | -$14.5M | $0 | $0 |
| Non-cash principal payments on debt, related parties | -$286.0K | $0 | $0 |
| Receipt of liquidity pool tokens | -$25.1M | $0 | $0 |
| Sale of liquidity pool tokens | $1.6M | $0 | $0 |
| Related party debt issued at receipt of liquidity pool tokens | $14.3M | $0 | $0 |
| Loan to related party settlement | $10.2M | $0 | $0 |
| Right of use assets obtained in exchange for operating lease liabilities | $2.8M | $0 | $0 |
| Unrealized losses on futures | $113.0K | $0 | $0 |
| Distributions from Onshore Solana Fund | $2.0M | $547.0K | $0 |
| Stock-based compensation included in capitalized internally developed software | $558.0K | $530.0K | $0 |
| Marketable securities retained in securitization transactions | -$54.9M | -$116.3M | -$42.1M |
| Transfers from held for investment to held for sale | $0 | $58.8M | $53.2M |
| Other non-cash investing and financing activities | $0 | $25.0K | $399.0K |
| Contribution from related party | $0 | $1.5M | $0 |
| Other capital contributions | $0 | $3.0M | $0 |
| Other capital charges | $0 | $5.0M | $0 |
| Transfers from held for sale to held for investment | $0 | $0 | $22.3M |
No quarter-by-quarter statement was filed.
Compare Figure Technology Solutions, Inc. with another company
Leadership
Who has led Figure Technology Solutions, Inc., and when. Pick a name to see everywhere that person has worked.
- Chief executive officerMichael Benjamin Tannenbaum Sep 10, 2025 to now9
- Chief financial officerMinchung Kgil Sep 10, 2025 to now10
Board members and other officers (10)
- Chief Capital OfficerDavid Todd Stevens Sep 10, 2025 to now11
- Board memberAdam Gilbert Boyden Sep 10, 2025 to now12
- Board memberDaniel Wayne Morehead Sep 10, 2025 to now13
- Board memberDavid K. Chao Sep 10, 2025 to now14
- Board memberJune Ou Sep 10, 2025 to now15
- Board memberLesley Goldwasser Sep 10, 2025 to now16
- Board memberMichael Benjamin Tannenbaum Sep 10, 2025 to now9
- Board memberMichael Scott Cagney Sep 10, 2025 to now17
- Board memberSachin Chand Jaitly Sep 10, 2025 to now18
- General counselBrian Walter Crist Aug 26, 2026 to now19
Former names
- FT Intermediate, Inc.May 9, 2025 to Sep 2, 20254
Timeline
Filings
188 filings to the SEC since October 2021: 1 annual reports, 3 quarterly reports, 19 major events, 83 insider forms, 7 large holders, 75 other. The latest 20:
- Oct 14, 20264 EDGAR
- Oct 14, 20264 EDGAR
- Oct 7, 20268-K EDGAR
- Oct 2, 2026S-3ASR EDGAR
- Sep 15, 20264 EDGAR
- Sep 14, 20264 EDGAR
- Sep 14, 20264 EDGAR
- Sep 9, 2026144 EDGAR
- Sep 9, 2026144 EDGAR
- Sep 4, 20264 EDGAR
- Sep 1, 20268-K EDGAR
- Aug 26, 20263 EDGAR
- Aug 26, 20264 EDGAR
- Aug 18, 2026144 EDGAR
- Aug 18, 20264 EDGAR
- Aug 14, 2026144 EDGAR
- Aug 14, 202610-Q EDGAR
- Aug 14, 20264 EDGAR
- Aug 13, 20268-K EDGAR
- Aug 13, 20264 EDGAR
The 188 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
43 open-market trades by officers, directors and large owners since October 2021: 1 buys and 42 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Aug 24, 2026 | Kgil MinchungChief Financial Officer | Sale | 8,000 | $38.69 | $309.5K | Form 4 |
| Aug 14, 2026 | Stevens David ToddChief Capital Officer | Sale | 47,650 | $31.39 | $1.5M | Form 4 |
| Aug 12, 2026 | Kgil MinchungChief Financial Officer | Sale | 4,000 | $30.03 | $120.1K | Form 4 |
| Jul 24, 2026 | Kgil MinchungChief Financial Officer | Sale | 4,000 | $28.13 | $112.5K | Form 4 |
| Jun 30, 2026 | Kgil MinchungChief Financial Officer | Sale | 4,000 | $30.03 | $120.1K | Form 4 |
| Jun 24, 2026 | Kgil MinchungChief Financial Officer | Sale | 4,000 | $27.64 | $110.6K | Form 4 |
| Jun 15, 2026 | Kgil MinchungChief Financial Officer | Sale | 9,117 | $30.06 | $274.1K | Form 4 |
| May 26, 2026 | Kgil MinchungChief Financial Officer | Sale | 8,000 | $35.70 | $285.6K | Form 4 |
| May 20, 2026 | Tannenbaum Michael BenjaminChief Executive Officer | Sale | 2,031 | $36.03 | $73.2K | Form 4 |
| May 19, 2026 | Tannenbaum Michael BenjaminChief Executive Officer | Sale | 14,871 | $37.27 | $554.2K | Form 4 |
| May 14, 2026 | Stevens David ToddChief Capital Officer | Sale | 47,064 | $42.35 | $2.0M | Form 4 |
| May 13, 2026 | Ou JuneDirector | Sale | 35,190 | $38.20 | $1.3M | Form 4 |
| May 13, 2026 | Cagney Michael ScottDirector | Sale | 35,190 | $38.20 | $1.3M | Form 4 |
| Apr 29, 2026 | Tannenbaum Michael BenjaminChief Executive Officer | Sale | 56,825 | $31.98 | $1.8M | Form 4 |
| Apr 28, 2026 | Tannenbaum Michael BenjaminChief Executive Officer | Sale | 127,369 | $33.35 | $4.2M | Form 4 |
| Apr 24, 2026 | Kgil MinchungChief Financial Officer | Sale | 8,000 | $32.25 | $258.0K | Form 4 |
| Apr 15, 2026 | Ou JuneDirector | Sale | 67,840 | $35.19 | $2.4M | Form 4 |
| Apr 15, 2026 | Cagney Michael ScottDirector | Sale | 67,840 | $35.19 | $2.4M | Form 4 |
| Mar 24, 2026 | Kgil MinchungChief Financial Officer | Sale | 8,000 | $33.49 | $267.9K | Form 4 |
| Mar 19, 2026 | Stevens David ToddChief Capital Officer | Sale | 49,708 | $32.02 | $1.6M | Form 4 |
All 43 trades can be filtered by person here when JavaScript is on.
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- FMR LLCSCHEDULE 13G/A, 2 filings May 6, 2026 to Aug 6, 202620
- Gemini GP LtdSCHEDULE 13G, 1 filing Mar 17, 202621
- DCM Opportunity Fund III, L.P.SCHEDULE 13G, 1 filing Nov 18, 202522
- Ribbit Capital IV, L.P.SCHEDULE 13G, 1 filing Nov 14, 202523
- NEWTON (PTC) LtdSCHEDULE 13G, 1 filing Nov 12, 202524
- Michael Scott CagneySCHEDULE 13G, 1 filing Nov 7, 202525
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
| Fund | Shares | Value | Share of the fund | Change |
|---|---|---|---|---|
| Ribbit Management Company, LLC | 11,253,191 | $345.6M | 16.8% | No change |
| Jpmorgan Chase & Co | 11,265,630 | $305.1M | 0.0% | +5,758,993 |
| Fmr LLC | 9,686,887 | $297.5M | 0.0% | −3,120,650 |
| BlackRock, Inc. | 5,025,758 | $154.3M | 0.0% | +3,357,134 |
| Fred Alger Management, LLC | 5,006,052 | $153.7M | 0.5% | +1,167,201 |
| Morgan Creek Capital Management, LLC | 4,442,317 | $136.4M | 91.9% | +566,099 |
| Vanguard Portfolio Management LLC | 4,295,763 | $131.9M | 0.0% | +3,004,205 |
| BIT Capital GmbH | 3,832,200 | $117.7M | 4.0% | +1,332,075 |
| Vanguard Capital Management LLC | 3,785,625 | $116.3M | 0.0% | +2,269,273 |
| Morgan Stanley | 3,747,081 | $115.1M | 0.0% | +1,012,158 |
| Citadel Advisors LLC | 3,568,388 | $109.6M | 0.1% | +2,070,787 |
| Orland Properties Ltd | 2,500,000 | $76.8M | 38.0% | −1,457,647 |
| Alliancebernstein L.P. | 2,129,033 | $72.3M | 0.0% | +468,441 |
| North Peak Capital Management, LLC | 2,307,148 | $70.9M | 7.9% | New |
| J Digital 6 LLC | 2,227,014 | $68.4M | 40.4% | −862,337 |
| Slate Path Capital LP | 2,002,100 | $61.5M | 0.9% | No change |
| Point72 Asset Management, L.P. | 1,657,857 | $50.9M | 0.1% | +708,451 |
| Tidal Investments LLC | 1,646,743 | $50.6M | 0.1% | +1,037,104 |
| Infinitum Asset Management, LLC | 1,600,000 | $49.1M | 5.0% | +350,000 |
| Schonfeld Strategic Advisors LLC | 1,581,789 | $48.6M | 0.3% | +320,725 |
| Van Eck Associates Corp | 1,578,275 | $48.5M | 0.0% | +402,032 |
| Pantera Capital Partners LP | 1,542,871 | $47.4M | 46.5% | No change |
| State Street Corp | 1,515,771 | $46.5M | 0.0% | +1,037,513 |
| Gilder Gagnon Howe & Co LLC | 1,504,431 | $46.2M | 0.5% | −426,220 |
| Geode Capital Management, LLC | 1,376,284 | $42.3M | 0.0% | +552,006 |
13F reports cover disclosed long positions in U.S. stocks only.
Sources
The numbers on this page point here. Each one links to the record it came from.
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- 12SEC EDGARAdam Gilbert Boyden, Board member
- 13SEC EDGARDaniel Wayne Morehead, Board member
- 14SEC EDGARDavid K. Chao, Board member
- 15SEC EDGARJune Ou, Board member
- 16SEC EDGARLesley Goldwasser, Board member
- 17SEC EDGARMichael Scott Cagney, Board member
- 18SEC EDGARSachin Chand Jaitly, Board member
- 19SEC EDGARBrian Walter Crist, General counsel
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