Figure Technology Solutions (FIGR) investor relations material

Strategic vision and business model

• Focuses on disrupting traditional capital markets using blockchain technology to drive efficiency, reduce costs, and create new market opportunities.

• Operates a high-margin, capital-light marketplace connecting over 380 originator partners with standardized capital markets infrastructure.

• Ecosystem includes proprietary technology, digital asset registration, and a marketplace for loan origination, aggregation, securitization, and servicing.

• Revenue model is fee-based, with income from marketplace, origination, servicing, and technology fees.

• Maintains minimal balance sheet exposure, with most originations funded externally.

Financial performance and growth

• Achieved rapid, profitable growth with a 56% revenue CAGR and 62% consumer loan marketplace volume CAGR from 2023 to LTM Q1'26.

• Adjusted net revenue grew from $217M in 2023 to $593M LTM Q1'26; adjusted EBITDA margin expanded from 29% to 51%.

• Net income margin improved from negative in 2023 to 30% in LTM Q1'26, with net income rising from -$52M to $180M.

• Balance sheet strengthened, with total assets increasing from $660M in 2023 to $2.7B in Q1'26.

• Operating model enables scalable, recurring, and highly visible fee-based growth.

Market opportunity and ecosystem expansion

• Addresses a $450B+ revenue opportunity across capital markets, including HELOC, DSCR, SMB, and tokenized warehouse lending.

• Origination mix targets large markets, with first-lien loans and HELOCs comprising the majority of volume.

• Figure Connect marketplace volume share expanded from 0% to 56% of consumer loan originations since 2024.

• Ecosystem partners include banks, credit unions, fintechs, and mortgage servicers, with 387 partners onboarded by Q1'26.

• Securitization program established strong market presence, with AAA-rated deals and diverse investor base.