Overview
- Figure reported third‑quarter net income of $89.8 million, earnings of $0.34 per share versus a $0.15 consensus, and revenue of $156.37 million topping the $119.01 million forecast.
- Consumer loan volume reached roughly $2.5 billion in the quarter, including about $2.4 billion in HELOCs, with $11.1 billion in unpaid principal across more than 302,000 HELOCs.
- Shares jumped roughly 17% to 20% intraday following the results, trading around $41 by midday Friday.
- The Figure Connect marketplace generated $1.1 billion of volume, the company counts over 246 partners, and it said it onboarded one of the largest mortgage servicers during the quarter.
- Management highlighted per‑loan production costs around $1,000 versus an industry average of about $12,000, reported $1.85 billion in warehouse lines and $41.2 million in undrawn HELOC capacity, and announced a tokenized stock offering with further details expected next week.