Figure revenue surges 113% in Q2 as loan marketplace volume jumps

Figure Technology Solutions delivered record second-quarter results, driven by rapid growth in its blockchain-native lending marketplace.

Consumer Loan Marketplace volume increased 132% year-over-year to $4.3 billion, while Figure Connect volume rose 262% to $2.8 billion and represented 65% of marketplace activity.

Net revenue jumped 113% to $225.6 million and adjusted EBITDA climbed 126% to $119.4 million. Net income increased 192% to $87.4 million, with net income margin reaching 38.8%. Adjusted EBITDA margin also improved to 54.6%, up 7.4 percentage points from a year earlier.

Figure added 102 origination partners during the quarter, reaching 489 active partners, while SMB lending continued to expand. SMB loan volume rose 57% from the previous quarter, and the company added SMB pools to Democratized Prime. Third-party borrowing on the platform reached about $170 million by Aug. 6, around 23 times the amount at year-end.

Figure reached an agreement in June to acquire Kiavi for approximately $717 million, with the firm contributing $538 million and Sixth Street contributing $179 million. The two companies will form a joint venture to acquire certain Kiavi assets, while Figure will integrate Kiavi’s platform and DSCR loan business.

The transaction remains on track to close during the second half of 2026, according to Figure.