Figure Technology Solutions just posted the kind of quarter that makes traditional lenders nervously check their rearview mirrors. The Nasdaq-listed company (FIGR) reported Q1 2026 net revenue of $167 million, nearly doubling the $84.5 million it pulled in during the same period last year.
The engine behind that 98% revenue jump: consumer loan marketplace volume hit $2.9 billion for the quarter, a 113% year-over-year increase.
The numbers behind the growth
Figure’s Q1 wasn’t just a top-line story. The company reported net income of $45 million and adjusted EBITDA of $82.7 million, the latter representing a 192% increase from the prior year.
The standout within the standout was Figure Connect, the company’s platform connecting loan originators with capital markets participants. Figure Connect volume surged 237% to $1.6 billion, accounting for more than half of the total marketplace volume.
