Overview
- Figure reported $156.3 million in net revenue and roughly $90 million in net income for Q3, beating consensus and delivering 34 cents in EPS versus 15 cents expected.
- Consumer loan marketplace volume reached $2.5 billion in the quarter, up 70% year over year, with $1.1 billion transacted through Figure Connect after $767 million in the prior quarter.
- Shares jumped roughly 17% to 20% following the release, extending gains since the company’s September Nasdaq debut.
- HELOCs remained the core driver, with $11.1 billion in unpaid principal balance across more than 302,000 accounts, average Q3 rates near 9% to 9.2%, and $41.2 million in undrawn commitments.
- The company ended Q3 with 246 active partners including banks, credit unions and a newly onboarded large loan servicer, while rolling out tokenization initiatives such as the $YLDS stablecoin, Democratized Prime and a planned tokenized stock offering.