Figure Technology Solutions Inc

At the Goldman Sachs conference Figure announced it is shifting from direct lending to a blockchain-based capital markets platform focused on tokenized assets and Figure Connect. Figure Connect already accounts for 65% of volume and is expected to reach 70% in the near term, while take rates are falling and the model is becoming more capital-efficient. The acquisition of Kiavi (around $537 million) expands the product range to fix-and-flip and DSCR loans; Figure expects an EBITDA contribution of about $100 million and payback in under four years. Management highlights significant cost advantages, strong revenue and margin performance (adjusted EBITDA margin 55% in Q2 2024), and plans to expand into auto and SMB lending through tokenization and partnerships. » Plus sur de.investing.com

BofA Securities raised its rating for Figure Technology Solutions from “Underperform” to “Neutral” and increased the price target from $31 to $49. The bank cites raising the applied P/E multiple from 17.5 to 25 and improved revenue growth forecasts through 2028 as reasons for the upgrade. Drivers include the rapid expansion of Figure Connect, which accounted for 65% of total volume in Q2/2026 and grew volume year-over-year by 132%. Analyst sentiment is shifting strongly toward buy recommendations, the stock is trading higher in premarket trading and remains well below its 52-week high. » Plus sur de.investing.com

Figure reported adjusted EPS of $0.35 in Q2 2026 versus consensus $0.19 and revenue of $225.59 million. Marketplace volume for consumer loans rose to $4.3 billion (+132% YoY), with Figure Connect accounting for 65% of the volume; adjusted EBITDA climbed to $119 million with a margin of 55%. Management raised the medium-term target for Figure Connect to around 70% and guided Q3 volume of $4.8–5.2 billion, but expects the take rate to be at the lower end of the range in the near term. The stock reacted only modestly in premarket trading as investors assess the sustainability of the growth and valuation questions. » Plus sur de.investing.com