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Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions.
| Analyst | Firm | Questions · challengingPercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| James Yaro | Goldman Sachs | 6 questions · 0% challenging |
| Dan Dolev | Mizuho Securities | 4 questions · 0% challenging |
| Ryan Tomasello | KBW | 4 questions · 25% challenging |
| Patrick Moley | Piper Sandler | 4 questions · 0% challenging |
| Rob Wildhack | Autonomous Research | 4 questions · 50% challenging |
| Randy Binner | Texas Capital Securities | 2 questions · 50% challenging |
| Dan Fannon | Jefferies | 2 questions · 0% challenging |
| Kyle Peterson | Needham | 2 questions · 0% challenging |
| Firm | Analysts | Questions · challengingPercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Goldman Sachs | 1 analyst | 6 questions · 0% challenging |
| Autonomous Research | 1 analyst | 4 questions · 50% challenging |
| KBW | 1 analyst | 4 questions · 25% challenging |
| Mizuho Securities | 1 analyst | 4 questions · 0% challenging |
| Piper Sandler | 1 analyst | 4 questions · 0% challenging |
| Jefferies | 1 analyst | 2 questions · 0% challenging |
| Needham | 1 analyst | 2 questions · 0% challenging |
| Texas Capital Securities | 1 analyst | 2 questions · 50% challenging |
Figure Technology Solutions grew consumer loan marketplace volume over 110% year-over-year to approximately $2.9 billion, and adjusted net revenue rose 92% to $167 million with an adjusted EBITDA margin of 50%, versus 33% a year earlier. GAAP operating income of $58.8 million was up 628.82% against a small prior-year base, and GAAP net income was $45 million, including a $7 million option-exercise tax benefit, turning from a near-breakeven year-ago quarter. The capital-light Figure Connect marketplace reached 56% of volume, up from 54%, while the company added a record 80 partners, including regional depository Flagstar Bank. Management introduced its first-ever quarterly guidance, setting Q2 CLM volume at $3.8 billion to $4.1 billion, and net take rate held at 3.8% within the 3.5% to 4% range despite interest-rate volatility. Blockchain-ecosystem products including OPEN, Democratized Prime and YLDS continued to scale, with YLDS and Democratized Prime balances up roughly 80% quarter-over-quarter.
Revenue Growth | Competitive Dynamics | Demand | Margin | Guidance Reliability | Product Launch | Regulation Policy | Credit | |
|---|---|---|---|---|---|---|---|---|
| 2025Q3 | 5 | 6 | ||||||
| 2025Q4 | 5 | 2 | 3 | 1 | ||||
| 2026Q1 | 1 | 2 | 8 | 1 | 2 | 2 | 1 | 1 |
| '25Q3 | '25Q4 | '26Q1 | |
|---|---|---|---|
| Revenue Growth | 5 | 5 | 1 |
| Competitive Dynamics | 6 | 2 | 2 |
| Demand | 8 | ||
| Margin | 3 | 1 | |
| Guidance Reliability | 1 | 2 | |
| Product Launch | 2 | ||
| Regulation Policy | 1 | ||
| Credit | 1 |
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| Quarter | Revenue | Rev YoY | EPS | EPS YoY | Op margin | Net margin |
|---|---|---|---|---|---|---|
| FY2025 Q1 | $55M | -9.3% | $-0.00 | +97.2% | 14.6% | -1.5% |
| FY2025 Q2 | $95M | +52.9% | $0.07 | +103.5% | 29.2% | 31.5% |
| FY2025 Q3 | $135M | — | $0.17 | — | 39.1% | 66.4% |
| FY2025 Q4 | $223M | — | $0.06 | — | 29.1% | 6.8% |
| FY2026 Q1Selected | $167M | +201.4% | $0.18 | — | 35.2% | 26.9% |
| FY2026 Q2 | $188M | +98.0% | $0.35 | +400.0% | 51.6% | 46.5% |
Management’s own words, often on a non-GAAP, constant-currency, or adjusted basis — so these can differ from the GAAP figures above (e.g. constant-currency revenue growth excludes currency swings).
Calendar quarter Q1 2026Earnings call May 12, 2026
FY2026 Q1 in brief
Figure Technology Solutions grew consumer loan marketplace volume over 110% year-over-year to approximately $2.9 billion, and adjusted net revenue rose 92% to $167 million with an adjusted EBITDA margin of 50%, versus 33% a year earlier.
GAAP revenue YoY +201.4% → base 8. The base score is anchored to the GAAP revenue YoY band before transcript, EPS, and guidance adjustments.
Sources. Tellvest earnings-call sentiment score for Figure Technology Solutions, Inc. Class A Common Stock (FIGR), FY2026 Q1: 9/10. Scores: Figure Technology Solutions, Inc. Class A Common Stock’s public earnings-call transcripts and SEC-reported results — the base band is anchored to reported GAAP revenue growth; transcript, EPS and guidance adjustments are applied separately (documented exceptions apply to a few issuers). Price: FIGR daily closing prices for the trailing year; dots mark earnings calls, colored by that quarter’s score; the newest quarter’s score is part of Tellvest Pro. How to read a company earnings-call score.
Newest quarter FY2026 Q2 is part of Pro · see what Pro adds →
What FIGR and other companies said about each other on FY2026 Q1 earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“that came at the expense of Fannie and Freddie market share, and that's where we see ultimately our competition, that combination of call it, the Ellie Mae, Ice and Fannie and Freddie Mac complex.”
Figure frames the Fannie/Freddie conventional channel (with ICE's Ellie Mae) as its real competition, and says partner volume moving to Connect is taking share from the GSEs.
“I think Anthony Stratis talked about this in his earnings remarks at Loan Depot last week, and references partnership with Figure's opening up this market for them in a market that couldn't address before.”
loanDepot is using its Figure partnership to address the sub-$300K first-lien market it previously could not profitably serve.
“We were excited to announce Agora in Q1 is the first forge third-party partner and are building a pipeline of many other issuers across consumer mortgage receivables, SMB and other loan categories”
Agora became the first third-party issuer on Figure's Forge loan-participation platform, with $24M of its auto assets borrowed against on Democratized Prime.
“Third-party borrowers are the immediate focus of Democratized Prime and the quarter we have already added 3 more, including a DSCR originator and Credibly, a fintech lender for salt and medium-sized businesses.”
SMB fintech lender Credibly joined Democratized Prime as a third-party borrower, part of Figure's goal of 8-10 third-party originators in 2026.
“in Q1 saw offering 5x monthly volume growth for Mutual of Omaha, a Fortune 300 financial institution after upselling to Connect.”
Mutual of Omaha's monthly origination volume on Figure grew 5x after it moved onto Figure Connect, share Figure says came from the Fannie/Freddie channel.
“Highlighting this is the recent onboarding of Flagstar Bank, a large regional depository and now the largest bank originator on our marketplace to date.”
Flagstar Bank onboarded as an origination partner and is now the largest bank originator on Figure's marketplace, a sign regional depositories are adopting Figure's rails.
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
FIGR Figure Technology Solutions, Inc. Class A Common Stock | 9 | +201.4% | |
| BMNR Bitmine Immersion Technologies, Inc. | 6 | +627.6% | |
| CLSK CleanSpark, Inc. | 2 | -24.9% | |
| CRCL Circle Internet Group | 7 | +20.0% | |
| GS The Goldman Sachs Group, Inc. | 7 | +13.9% | |
| HOOD Robinhood Markets, Inc. | 8 | +15.1% | |
| MARA Marathon Digital Holdings, Inc. | 2 | -18.4% | |
| MS Morgan Stanley | 9 | +18.8% | |
| RIOT Riot Platforms, Inc. | 6 | +3.6% | |
| RJF Raymond James Financial | 7 | +12.4% | |
| SCHW Charles Schwab Corporation | 9 | +9.8% |