{"id":50117,"date":"2026-05-12T19:20:27","date_gmt":"2026-05-12T16:20:27","guid":{"rendered":"https:\/\/mk.gen.tr\/figure-posts-strong-q1-on-surge-in-blockchain-lending-activity\/"},"modified":"2026-05-12T19:20:27","modified_gmt":"2026-05-12T16:20:27","slug":"figure-posts-strong-q1-on-surge-in-blockchain-lending-activity","status":"publish","type":"post","link":"https:\/\/mk.gen.tr\/tr\/figure-posts-strong-q1-on-surge-in-blockchain-lending-activity\/","title":{"rendered":"Figure posts strong Q1 on surge in blockchain lending activity"},"content":{"rendered":"

Figure Technology Solutions<\/strong> reported first-quarter net income of $45 million as the blockchain-based lending marketplace nearly doubled revenue and more than doubled consumer loan marketplace volume year-over-year.<\/p>\n

The company said on Tuesday that its consumer loan marketplace volume rose 113% year over year to $2.9 billion in the quarter ended March 31. Figure Connect<\/a> volume climbed 237% to $1.6 billion.<\/p>\n

Net revenue increased 98% to $167 million from $84.5 million a year earlier. Adjusted net revenue rose 92% to $166.8 million.<\/p>\n

The company posted diluted earnings per share of 18 cents, compared with a loss of 1 cent per share in the year-ago period. Net income margin reached 27%, compared with a negative 0.7% margin a year earlier.<\/p>\n

Adjusted EBITDA surged 192% to $82.7 million, while adjusted EBITDA margin expanded to 49.6% from 32.6%.<\/p>\n

CEO Michael Tannenbaum<\/a> said the company\u2019s results reflected continued growth across its blockchain ecosystem and lending marketplace.<\/p>\n

\u201cWe delivered exceptional first-quarter results, headlined by 113% year-over-year growth in our Consumer Loan Marketplace and the addition of a record 80 new partners,\u201d Tannenbaum said in a statement.<\/p>\n

\u201cRevenue was up 92% and adjusted EBITDA margin at 50% as we continued to see the benefits of our capital-light marketplace, Figure Connect, in the financials,\u201d Tannenbaum continued. \u201cFigure Connect grew to 56% of volume, up from 54% last quarter.\u201d<\/p>\n

Tannenbaum said Figure<\/a> saw growth across all channels, \u201cmost notably new partners, depository activity, business purpose, and partner growth via Figure Connect.\u201d <\/p>\n

\u201cThe more volume that flows through Connect, the less we rely on balance sheet intermediation,\u201d he said. \u201cThe model becomes more capital light, and our margins become more durable.\u201d<\/p>\n

Figure said ecosystem volume increased 136% year over year to $3.7 billion, while its net take rate improved to 3.8% from 3.6%.<\/p>\n

The company ended the quarter with $1.5 billion in cash and cash equivalents, excluding restricted cash, and $504 million in loans held for sale.<\/p>\n

Figure said its blockchain<\/a> ecosystem also expanded sharply during the quarter. YLDS in circulation, Figure\u2019s blockchain-based yield-bearing digital asset, grew to $598 million in circulation as of March 31, up from $3 million a year earlier. The company said matched offers on its Democratized Prime platform reached $368 million.<\/p>\n

During the quarter, Figure added 80 new partners, bringing its ecosystem total to 387 active partners. The company also signed Flagstar Bank<\/strong>, which it said is expected to launch on the platform in the second quarter.<\/p>\n

Tannenbaum said the company expects partner growth to continue driving origination volume gains this year.<\/p>\n

\u201cWe\u2019re firing on all cylinders in terms of partner acquisition,\u201d he said. \u201cI do think it is indicative of a really strong pace of consumer loan marketplace volume growth that we continue to see into 2026.\u201d<\/p>\n

Figure said it continued expanding its small- and medium-business (SMB) and business-purpose lending channels. The SMB channel reached nearly $60 million in quarterly volume, while debt service coverage ratio (DSCR)<\/a> and residential transition loan (RTL) products grew 70% from the prior quarter.<\/p>\n

\u201cThese two products, often used by real estate investment businesses, represent a roughly $100 billion addressable annual origination market,\u201d Tannebaum said during the call. \u201cIn Q1, we saw 70% growth from both of these products, and we expect this to be a focus going forward. Last quarter, I dubbed 2026 the year of the first lien. Today, I\u2019m pleased to share that first lien volume now accounts for 20% of our total, up from 19% last quarter.\u201d<\/p>\n

The company also discussed its March 2026 release, Figure Forge, a platform designed to fractionalize whole loans into single-dollar participation units tied to decentralized finance markets.<\/p>\n

For the second quarter, Figure projected consumer loan marketplace volume between $3.8 billion and $4.1 billion.<\/p>","protected":false},"excerpt":{"rendered":"

Figure Technology Solutions reported first-quarter net income of $45 million as the blockchain-based lending marketplace nearly doubled revenue and more than doubled consumer loan marketplace volume year-over-year. The company said on Tuesday that its consumer loan marketplace volume rose 113% year over year to $2.9 billion in the quarter ended March 31. Figure Connect volume…<\/p>","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/mk.gen.tr\/tr\/wp-json\/wp\/v2\/posts\/50117"}],"collection":[{"href":"https:\/\/mk.gen.tr\/tr\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mk.gen.tr\/tr\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mk.gen.tr\/tr\/wp-json\/wp\/v2\/comments?post=50117"}],"version-history":[{"count":0,"href":"https:\/\/mk.gen.tr\/tr\/wp-json\/wp\/v2\/posts\/50117\/revisions"}],"wp:attachment":[{"href":"https:\/\/mk.gen.tr\/tr\/wp-json\/wp\/v2\/media?parent=50117"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mk.gen.tr\/tr\/wp-json\/wp\/v2\/categories?post=50117"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mk.gen.tr\/tr\/wp-json\/wp\/v2\/tags?post=50117"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}