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FIGR +4.51% on Nov 12 · Analysis updated Nov 12, 2026, 9:45 AM ET
Why is Figure Technology Solutions (FIGR) stock up?
Figure reported Q3 2026 results on Nov 12 that beat expectations. Net revenue was $287M, up 84% Y/Y, against a $262.61M consensus. Diluted EPS was $0.36 against a $0.28 estimate. Adjusted EBITDA rose 91% to $164M. Loan Marketplace volume reached $5.8B, up 135%, including $677M from Kiavi. Figure Connect volume rose 276%. The company raised its buyback authorization to $400M and held $1.59B of cash. Against this, the gross take rate fell 1.3 points to 3.9%, and net income fell 1% to $89.3M, with the margin down 26 points. The Q4 gross take rate guide of 3.1%-3.4% implies further compression. The stock opened at $25.34 and traded at $25.28 as of 9:45 ET, up about 4.5% from the $24.19 close. That is above the recent range, though the reaction on thin early volume is still unconfirmed. The stock is down about 41% year to date and sits well below the Moderate Buy consensus target of about $52. The Nov 9 KBW target cut to $37 shows that analysts are trimming targets. The result removes the main uncertainty about the Kiavi-inclusive numbers. Take-rate pressure and high volatility remain the main risks.
News behind the analysis
- Figure Technology Solutions Q3 Earnings: Revenue Up 84% to $287MQ3 net revenue rose 84% to $287M and adjusted EBITDA rose 91% to $164M. Gross take rate fell 1.3 points to 3.9% and net income slipped 1% to $89.3M.
- Figure Technology Solutions Inc Reports Q3 2026 Earnings: EPS of $0.36 and Revenue of $287 Million Surpass EstimatesRevenue beat the $262.61M consensus and EPS of $0.36 beat the $0.28 estimate. Loan Marketplace volume was $5.8B, including $677M from Kiavi. The report flags take-rate compression.
- Figure Technology Solutions Q3 net income falls to $89.32 million; revenue rises 84% to $287.12 millionFigure raised its buyback authorization by $200M to $400M and guided Q4 gross take rate to 3.1%-3.4%. Kiavi adds about $8B of annual run-rate volume.
- Figure (FIGR) Q3 2026 Earnings: Marketplace Volume Jumps 135%Marketplace volume rose 135% Y/Y to $5.8B. Gross take rates fell to 3.9% amid pricing concessions and higher operating expenses.
- Q3 2026 Net Revenue Reaches $287M, Up 84% Year-over-YearOdaily reports Q3 net revenue of $287M and net profit of $89.32M with a 31% margin, down 26 points Y/Y.
- Q3 2026 Net Revenue Increases 84%Cash and equivalents were $1.59B at Sept 30, including $100M in digital assets. YLDS circulation rose to $504M.
- Figure released its third-quarter financial report: net revenue of 287 million USDChainCatcher recaps the Q3 results: revenue up 84%, adjusted EBITDA up 91% to $164M, and loan marketplace volume up 135% to $5.8B.
- Figure Technology Solutions Releases Q3 2026 Financial ResultsDiluted EPS of $0.36 beat the $0.28 estimate. Revenue of $287.1M was up 84% from $156.4M a year earlier.
- Figure Technology Solutions (FIGR) Stock Price, News & AnalysisShares closed at $24.19 on Nov 11, down 40.8% year to date, with a 52-week range of $19.54 to $78.00. Consensus rating is Moderate Buy with a $52.43 average price target.
About Figure Technology Solutions, Inc. Class A Common Stock
Figure Technology Solutions is a US fintech company, founded in 2018 and listed on Nasdaq in September 2025, that runs a blockchain-based marketplace where loans are originated, funded, sold and traded. It is best known for home equity lines of credit (HELOCs) recorded on its Provenance blockchain and has since moved into crypto-related markets and, through its Kiavi acquisition, real-estate investor lending.
How it makes money
Most of its revenue comes from the FTI segment, mainly Figure Connect. That business earns ecosystem and technology fees when partner lenders (such as Guaranteed Rate) originate loans on its platform. Figure also originates HELOCs itself, then sells or securitizes them while continuing to service them, earning gains on those sales plus servicing income. A smaller Markets segment earns fees from trading and managing blockchain-based assets. The Kiavi acquisition adds lending to real-estate investors.
What usually moves FIGR
- HELOC and loan marketplace volumes
- Interest rates and home equity levels
- Investor demand for loan sales and securitizations
- Crypto and tokenization sentiment
- Funding costs and credit performance