FIGURE TECHNOLOGY SOLUTIO SEC Filings

Figure Technology Solutions, Inc. (FIGR) reported strong Q3 performance. Net revenue for the quarter reached $156.4 million, up from $101.0 million a year ago, driven by higher ecosystem and technology fees of $35.7 million, origination fees of $21.4 million, and a $63.6 million gain on loan sales. Operating income rose to $52.7 million from $26.1 million, and net income increased to $89.6 million from $27.3 million. Diluted EPS was $0.34.

The balance sheet strengthened with cash and cash equivalents of $1,097.1 million and total assets of $2,156.8 million as of September 30, 2025. Stockholders’ equity increased to $1,176.6 million, reflecting the initial public offering, which provided $663.4 million in net proceeds and the conversion of preferred stock to common. For the nine months, net revenue was $346.9 million versus $257.0 million, with net income of $118.7 million versus $11.7 million.

As of November 10, 2025, the company had 176,100,512 Class A and 37,893,047 Class B shares outstanding.

Figure Technology Solutions, Inc. (FIGR) filed a Form S-8 reoffer prospectus registering 7,356,705 shares of Class A common stock for potential resale by certain current and former directors, officers, employees, and consultants who acquired equity under the company’s 2018 and 2024 Equity Incentive Plans. The company states it will not receive any proceeds from sales by the selling stockholders.

The resale amount is subject to Rule 144(e) limits for any three‑month period. Examples include Michael Cagney 5,372,312 and Michael Tannenbaum 1,622,674. Shares outstanding were 176,100,512 as of October 31, 2025; this is a baseline figure, not the amount being offered. FIGR is listed on Nasdaq; on November 5, 2025, the last sale price was $38.69 per share. The plan of distribution permits sales via exchanges, negotiated transactions, or through underwriters, with selling stockholders bearing sales commissions.

Jaitly Sachin Chand, a director of Figure Technology Solutions, Inc. (FIGR), reported multiple acquisitions of the issuer's securities on Form 4. On 08/29/2025 he acquired 16,189 and 2,700 shares of Class A common stock indirectly through Tessera Venture Capital Fund I, LP and Tessera Venture Capital Fund II, LP, respectively, in exchange for securities of a predecessor entity. On 09/12/2025 he reported additional acquisitions: 169,553 and 28,271 shares of Class A common stock via the same funds, and related derivative-to-common conversions showing Series B, C and D preferred stock converting into a total of 197,824 Class A shares. The filings state these holdings are indirect through Tessera entities and note automatic conversion of preferred into Class A at IPO.

Figure Technology Solutions, Inc. (FIGR) reporting person Adam Boyden, a director, disclosed transactions tied to the issuer's initial public offering. Preferred shares automatically converted into Class A common stock on 09/12/2025, producing 6,499,459 newly acquired Class A shares reported as acquired. The filing also reports a sale of 468,860 Class A shares on 09/12/2025 at $25.00 per share. After these transactions the reporting person is shown as beneficially owning 7,120,018 Class A shares (indirectly) and holds no derivative securities exercisable into additional shares. Disclosures indicate holdings are held through several venture partnership entities for which the reporting person is a managing member.

Figure Technology Solutions insider award: Director Lesley Goldwasser was granted 9,514 restricted stock units (RSUs) on 09/12/2025, each representing the contingent right to one share of Class A Common Stock. The RSUs were issued at $0 and vest in full on September 10, 2026. Following the reported transaction, Goldwasser beneficially owns 9,514 shares directly. The Form 4 was executed by attorney-in-fact Ronald Chillemi and filed on 09/16/2025.

Figure Technology Solutions insider transactions by CEO/director Michael B. Tannenbaum: The filing reports equity activity on 07/31/2025 and 09/12/2025. On 07/31/2025 the reporting person was issued a stock option for 530,135 shares with a $10.51 exercise price exercisable immediately and expiring 07/31/2035. On 09/12/2025 preferred shares automatically converted into 8,263 Class A shares and the reporting person reached 5,126,537 shares beneficially owned before subsequent transactions that day. Also on 09/12/2025 736,790 shares were withheld to satisfy tax withholding related to RSU vesting (not a market sale) and 297,171 shares were sold at $25 per share, leaving 4,092,576 Class A shares beneficially owned after the reported transactions.

Figure Technology Solutions, Inc. (FIGR) Form 4 shows multiple related DCM reporting persons reporting transactions dated 09/12/2025 and signed 09/16/2025. Immediately prior to the issuer's IPO, each share of preferred stock automatically converted into one share of Class A Common Stock. The filing reports two non-derivative acquisitions of Class A Common Stock: 15,022,618 shares (resulting in 16,456,952 shares beneficially owned) and 183,763 shares (resulting in 201,309 shares beneficially owned). The filing also reports conversion of multiple series of preferred stock into Class A Common Stock totaling 15,206,381 underlying shares held indirectly by Figure Investments, LLC and DCM Opportunity Fund III, L.P.

Figure Technology Solutions describes a blockchain-enabled lending and marketplace platform focused on HELOCs and digital assets. The company reported net income of $29 million and Adjusted EBITDA of $83 million for the six months ended June 30, 2025, and net income of $20 million and Adjusted EBITDA of $101 million for the year ended December 31, 2024. Accumulated deficit was $292 million and total stockholders' equity was $404 million as of June 30, 2025.

Operational metrics show rapid HELOC growth: ~$6 billion facilitated in the twelve months ended June 30, 2025 (up 29% year-over-year) with 168 partners. Median funding time for home equity loans is 10 days (industry ~42 days) and average production cost per loan was ~$730 for 2024 versus an MBA mortgage average of $11,230. Figure Connect transacted ~$1.3 billion of HELOC volume in its first 12 months. The filing discloses material weaknesses in internal control and highlights concentration in HELOC revenue and significant regulatory uncertainty for digital-asset products including YLDS (revenue $1,000 for six months ended June 30, 2025).

Figure Technology Solutions describes a blockchain-based capital markets platform focused on consumer credit and digital assets. For the six months ended June 30, 2025, the company reported net revenue $191 million, net income $29 million and Adjusted EBITDA $83 million. For 2024 it reported net revenue $341 million, net income $20 million and Adjusted EBITDA $101 million. The business facilitated approximately $6 billion of home equity lending for the twelve months ended June 30, 2025 (up 29% year-over-year) and had 168 active partners.

The company highlights operational advantages: a proprietary LOS with median HELOC funding time of 10 days versus ~42 industry median, average production cost per loan of $730 versus an MBA mortgage average of $11,230, and a take rate of ~4%. New marketplace products include Figure Connect (≈$1.3 billion transacted in first 12 months), Figure Exchange, YLDS, and Democratized Prime. Noted risks include concentration in HELOC revenue, material weaknesses in internal controls, regulatory uncertainty for digital assets, and dependency on key partners and funding channels.