Figure Technology Solutions Reports January Operating Data

Rhea-AI Summary

Figure Technology Solutions (NASDAQ: FIGR) reported select operating metrics for the month ended January 31, 2026, showing continued growth across tokenized credit products and the Democratized Prime platform.

Key highlights: Consumer Loan Marketplace Volume reached $816M (up 115% YoY), $YLDS in circulation totaled $376M (15% month-over-month), and Democratized Prime matched offers balance was $253M (23% M/M).

Positive

• Consumer Loan Marketplace Volume +115% year-over-year to $816M
• $YLDS in Circulation +15% month-over-month to $376M
• Democratized Prime Matched Offers Balance +23% month-over-month to $253M
• Democratized Prime Borrower Demand +17% month-over-month to $288M
• Democratized Prime Available Lender Supply +23% month-over-month to $263M

Negative

• None.

News Market Reaction

-3.57%

44 alerts

-3.57% News Effect

-7.5% Trough in 23 hr 58 min

-$338M Valuation Impact

$9.14B Market Cap

0.7x Rel. Volume

On the day this news was published, FIGR declined 3.57%, reflecting a moderate negative market reaction. Argus tracked a trough of -7.5% from its starting point during tracking. Our momentum scanner triggered 44 alerts that day, indicating elevated trading interest and price volatility. This price movement removed approximately $338M from the company's valuation, bringing the market cap to $9.14B at that time.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Consumer Loan Volume: $816M Consumer Loan Volume: $869M M/M Change: -6% +5 more

8 metrics

Consumer Loan Volume $816M January 2026 consumer loan marketplace volume

Consumer Loan Volume $869M December 2025 consumer loan marketplace volume

M/M Change -6% January 2026 vs December 2025 consumer loan marketplace volume

Y/Y Change 115% January 2026 vs January 2025 consumer loan marketplace volume

$YLDS In Circulation $376M End of January 2026 balance, unsecured certificates backed by FCC assets

Matched Offers Balance $253M Democratized Prime matched offers end-of-period balance, January 2026

Borrower Demand $288M Democratized Prime borrower demand end-of-period balance, January 2026

Available Lender Supply $263M Democratized Prime available lender supply end-of-period balance, January 2026

Market Reality Check

Price: $41.27 Vol: Volume 5,983,027 is about...

normal vol

$41.27 Last Close

Volume Volume 5,983,027 is about 1.24x the 20-day average of 4,821,463. normal

Technical Shares trade below the 200-day MA, at 42.95 vs 200-day MA of 44.07.

Historical Context

5 past events · Latest: Feb 02 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Feb 02	Acquisition gateway deal	Positive	-8.0%	Bed Bath & Beyond acquisition to build tokenized real estate finance gateway.
Jan 26	Earnings date set	Neutral	+1.6%	Announcement of date and webcast details for Q4 and full-year 2025 results.
Jan 21	Governance structure update	Positive	-4.3%	Community-approved changes to Provenance Blockchain Foundation and tokenomics model.
Jan 14	OPEN network launch	Positive	-0.8%	Launch of on-chain public equity network (OPEN) on Provenance Blockchain.
Jan 12	Prelim Q4 metrics	Positive	-10.1%	Preliminary Q4 and December 2025 data showing strong marketplace and Prime growth.

Pattern Detected

Recent positive platform and growth updates have often been followed by negative price reactions.

Recent Company History

Over the past month, FIGR issued several platform and growth updates. A January press release highlighted sharp Q4 2025 volume growth across its consumer loan marketplace and Democratized Prime, yet the stock fell 10.07%. Launch of the OPEN on-chain equity network and a governance update for Provenance Blockchain also saw modest declines. An acquisition-related gateway announcement on Feb 2, 2026 coincided with an 8.03% drop, suggesting a pattern of weak near-term reactions to otherwise constructive news.

Market Pulse Summary

This announcement provides detailed January operating data, highlighting strong year-over-year expan...

Analysis

This announcement provides detailed January operating data, highlighting strong year-over-year expansion in consumer loan marketplace volume to $816M and continued growth in $YLDS and Democratized Prime balances. The metrics are unaudited and flagged as preliminary, so final quarterly filings could differ. In light of earlier Q4 2025 updates, investors may watch for consistency between monthly metrics, upcoming earnings on February 26, 2026, and any revisions disclosed in future SEC filings.

Key Terms

blockchain-native, tokenized assets, dscr, gaap, +3 more

7 terms

blockchain-native technical

"Figure Technology Solutions (Nasdaq: FIGR), the leading blockchain-native capital marketplace"

Software, products or services described as blockchain-native are built from the ground up to run on a distributed digital ledger rather than being adapted from traditional systems. For investors this matters because blockchain-native offerings rely on network effects, token economics, and the security and speed of the underlying ledger, so they can offer new revenue models and efficiencies but also carry unique scalability, regulatory and custody risks—think of a boat designed for water versus a car put on a raft.

tokenized assets technical

"for the origination, funding, sale and trading of tokenized assets, today reported"

A tokenized asset is a digital representation of ownership or rights to a real-world or financial item—such as property, a bond, or a piece of art—recorded on a secure digital ledger. Think of it like turning an asset into many small, tradable tickets that can be bought, sold, or transferred more quickly and cheaply; for investors this can mean easier access, fractional ownership, greater liquidity, and faster settlement, but also introduces technology, legal and market risks.

dscr financial

"originations of HELOCs, DSCR, and personal loans on our LOS, as well as"

Debt-service coverage ratio (DSCR) measures how easily a company can pay its debt obligations by comparing the cash it has available for debt payments to the amount it must pay in a given period. Think of it as a household budget ratio: if your monthly take-home pay comfortably exceeds your loan and mortgage payments, you have a high DSCR; a low DSCR signals a greater risk that the company may struggle to meet interest and principal payments, which matters to lenders and investors assessing credit safety and bankruptcy risk.

gaap financial

"meant to be considered in addition to, not as a substitute for ... in accordance with GAAP."

GAAP, or Generally Accepted Accounting Principles, are a set of standardized rules and guidelines that companies follow when preparing their financial statements. They ensure consistency, transparency, and comparability across different companies, making it easier for investors to understand and compare financial information accurately. This helps investors make informed decisions based on trustworthy and uniform financial reports.

unsecured face-amount certificates financial

"value of unsecured face-amount certificates solely backed by the assets of"

Unsecured face-amount certificates are promises to pay a fixed sum at a set future date, like an IOU from an issuer, but without any collateral backing the promise. Investors care because the return and safety depend entirely on the issuer’s ability to pay; without assets set aside as security, these certificates carry higher credit risk and require assessing the issuer’s financial strength much like judging whether a friend can repay a loan.

lending pool financial

"value that borrowers seek to borrow from the lending pool on the Democratized"

A lending pool is a shared pot of money contributed by multiple investors or depositors that is used to make loans to borrowers; returns from interest are passed back to contributors in proportion to their share. Think of it like a community lending club where everyone’s funds are pooled so each person earns a slice of the interest while spreading risk across many loans. Investors care because pool size, borrower quality and liquidity determine potential yield and exposure to losses.

governance technical

"with on-chain governance by HASH token holders."

Governance refers to the systems and processes that determine how an organization is directed and controlled. It involves making decisions, establishing rules, and overseeing activities to ensure the organization operates fairly, transparently, and in the best interests of its stakeholders. Good governance helps build trust and stability, which are important for investors because they indicate responsible management and reduce risks.

AI-generated analysis. Not financial advice.

NEW YORK, Feb. 04, 2026 (GLOBE NEWSWIRE) -- Figure Technology Solutions (Nasdaq: FIGR), the leading blockchain-native capital marketplace for the origination, funding, sale and trading of tokenized assets, today reported select operating data for the month ended January 31, 2025.

Dollars in Millions	January 2026	December 2025	M/M Change	January 2025	Y/Y Change
Consumer Loan Marketplace Volume	$816	$869	-6%	$380	115%
$YLDS In Circulation1	$376	$328	15%	-	n.m.
Democratized Prime2
Matched Offers Balance	$253	$206	23%	n.m.	n.m.
Borrower Demand	$288	$246	17%	n.m.	n.m.
Available Lender Supply	$263	$213	23%	n.m.	n.m.

Dollars in Millions	January 2025	February 2025	March 2025	Q1 2025
Consumer Loan Marketplace Volume	$380	$395	$590	$1,365
$YLDS In Circulation1	-	$0	$3	$3

Democratized Prime²

Matched Offers Balance	n.m.	n.m.	n.m.	n.m.
Borrower Demand	n.m.	n.m.	n.m.	n.m.
Available Lender Supply	n.m.	n.m.	n.m.	n.m.
¹ $YLDS launched in February 2025
² Democratized Prime launched in June 2025

About Certain Operating Metrics

In order to better help understand our financial performance, we use several operating metrics, some of which are discussed below, to evaluate our business and results, measure performance, identify trends, formulate plans, and make strategic decisions. Our determination and presentation of these metrics may differ from that of other companies. The presentation of these metrics is meant to be considered in addition to, not as a substitute for or in isolation from, our financial measures prepared in accordance with GAAP.

Consumer Loan Marketplace Volume: We define Consumer Loan Marketplace Volume as the total U.S. dollar equivalent value of originations of HELOCs, DSCR, and personal loans on our LOS, as well as the volume of third-party loans traded on Figure Connect. We believe this measure is an indication of our scale and represents the potential revenue opportunity from the technology used for consumer credit loan originations.

$YLDS In Circulation: We define $YLDS in Circulation as the total U.S. dollar equivalent value of unsecured face-amount certificates solely backed by the assets of Figure Certificate Company (FCC), which is the issuer of the certificates. This is reported as an end of period outstanding balance.

Matched Offers: We define Matched Offers as the U.S. dollar equivalent value of offers matched between borrower and lenders on the Democratized Prime platform. This is reported as an end of period outstanding balance.

Borrower Demand: We define Borrower Demand as the U.S. dollar equivalent value that borrowers seek to borrow from the lending pool on the Democratized Prime platform. This is reported as an end of period outstanding balance.

Available Lender Supply: We define Lender Supply as the U.S. dollar equivalent value that lenders have made available in the lending pool on the Democratized Prime platform. This is reported as an end of period outstanding balance.

Financial Disclosure Advisory

The information in this release is unaudited and the information for the months in the most recent fiscal quarter is preliminary, based on Figure’s estimates, and subject to completion of financial closing procedures. Final results for the most recent fiscal quarter, as reported in Figure’s quarterly and annual filings with the U.S. Securities and Exchange Commission (“SEC”), might vary from the information in this release. Figure may at times make revisions to prior estimates to ensure consistency across comparable periods.

Forward Looking Statements Disclaimer

This press release contains forward-looking statements intended to be covered by the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact contained in this press release, including without limitation statements regarding our future financial performance. These statements involve known and unknown risks, uncertainties, and other important factors that may cause actual results to differ materially from those expressed or implied by the forward-looking statements. In some cases, you can identify forward-looking statements by terms such as “may,” “will,” “should,” “expect,” “plan,” “anticipate,” “could,” “intend,” “target,” “project,” “contemplate,” “believe,” “estimate,” “predict,” “potential,” or “continue,” or the negative of these terms, and similar expressions. Forward-looking statements are predictions based largely on our current expectations and projections about future events and financial trends that we believe may affect our business, financial condition, and results of operations. These statements speak only as of the date of this press release.

Important factors that could cause actual results to differ materially include, among others: our history of losses and the risk that we may not maintain profitability; our reliance on HELOCs and exposure to fluctuations in the HELOC market and housing values; our ability to attract and retain borrowers, partners, and loan purchasers and to drive adoption of Figure-branded and Partner-branded channels including Figure Connect; loan performance and default rates and the effect of credit performance on access to and pricing of warehouse facilities, whole-loan sales, and securitizations; changes in interest rates and U.S. monetary policy that impact originations, funding costs, and investor demand; legal and regulatory risks affecting lending and mortgage-related activities and the evolving framework for digital assets, including potential changes in the characterization or regulation of certain digital assets and related products; dependence on key third-party providers including cloud, custodial, valuation, and data vendors and risks from outages or service disruptions; technology failures, cybersecurity incidents, or other operational disruptions; protection and enforcement of intellectual property; compliance with licensing, consumer protection, privacy, data security, and sanctions/AML laws, and shifting enforcement priorities at the federal and state levels; our ability to remediate previously identified material weaknesses and meet our post-IPO public company reporting and internal control obligations; competition; macroeconomic and geopolitical conditions; our dual-class structure and concentrated voting control and related impacts on corporate governance; equity market volatility affecting our Class A common stock; and the other risks described in “Risk Factors” in our Form 10-Q filed with the SEC for the quarter ended September 30, 2025.

About Figure Technology Solutions, Inc

Figure Technology Solutions, Inc. (Nasdaq: FIGR) is a blockchain-native capital marketplace that seamlessly connects origination, funding, and secondary market activity. More than 200 partners use its loan origination system and capital marketplace. Collectively, Figure and its partners have originated over $22 billion of home equity to date, among other products, making Figure’s ecosystem the largest non-bank provider of home equity financing. The fastest growing components are Figure Connect, its consumer credit marketplace, and Democratized Prime, Figure’s on-chain lend-borrow marketplace. Figure's ecosystem also includes DART (Digital Asset Registry Technology) for asset custody and lien perfection, and $YLDS, an SEC-registered yield-bearing stablecoin that operates as a tokenized money market fund.

Figure is the market leader in real world asset (RWA) tokenization and its most recent securitization received a AAA rating from S&P and Moody’s, the first of its kind for blockchain finance. For more information, visit https://figure.com or follow Figure on LinkedIn.

News & Information Disclosure

Investors should note we may use our website (https://www.figure.com/), our investor relations website (https://investors.figure.com/), and the social media accounts of Figure, Figure Markets and/or Mike Cagney, our Co-Founder and Executive Chairman, as a means of disclosing information and for complying with our disclosure obligations under Regulation FD. These include X (@figure @mcagney, @figuremarkets), LinkedIn (https://www.linkedin.com/company/figuretechnologies/, https://www.linkedin.com/in/mikecagney/), Instagram (@figuretechnologies), Facebook (https://www.facebook.com/Figure/), and YouTube (@figuretechnologies). The information we post through these channels may be deemed material. Investors should monitor these channels in addition to reviewing our press releases, SEC filings, and public conference calls.

FAQ

What was Figure Technology Solutions (FIGR) Consumer Loan Marketplace Volume in January 2026?

Consumer Loan Marketplace Volume was $816 million in January 2026, representing a 115% increase year-over-year. According to Figure, this metric measures originations and third-party loan trading and indicates scale and potential revenue opportunity from its lending technology.

How large was $YLDS in circulation for FIGR in January 2026 and what does it represent?

$YLDS in circulation totaled $376 million at the end of January 2026, a 15% month-over-month increase. According to Figure, $YLDS are unsecured face-amount certificates issued by Figure Certificate Company and reported as end-of-period outstanding balance.

What Democratized Prime activity did FIGR report for January 2026 (matched offers, demand, supply)?

Democratized Prime showed matched offers balance of $253M, borrower demand of $288M, and available lender supply of $263M in January 2026. According to Figure, each metric is an end-of-period U.S. dollar equivalent balance on the Democratized Prime platform.

Was FIGR January 2026 operating data audited and final for SEC reporting?

No, the January 2026 operating data are unaudited and preliminary and may change after financial close. According to Figure, final results for the most recent fiscal quarter could vary from these estimates when reported in SEC filings.

How did FIGR's Consumer Loan Marketplace Volume change month-over-month from December 2025 to January 2026?

Consumer Loan Marketplace Volume decreased 6% month-over-month, from $869M in December 2025 to $816M in January 2026. According to Figure, this reflects short-term monthly movement within the company’s reported marketplace originations and trading volumes.