According to Bernstein analysts, Figure Technology Solutions posted $2.9 billion in Q1 2026 loan volume on Monday, up 113% year-over-year, prompting the firm to reiterate its Outperform rating and $67 price target, implying 72% upside from FIGR’s current price of $38.97. Adjusted net revenue reached $167 million, beating consensus by 6% and up 92% year-over-year, while adjusted EBITDA hit $82.7 million, approximately a 50% margin.
Figure Connect, the company’s blockchain-based credit origination platform, accounted for 56% of total loan volumes, up from 54% the prior quarter, with the distribution partner network expanding to 387, including top-35 U.S. bank Flagstar. Management guided Q2 loan volumes at $3.8 billion to $4.1 billion, roughly 35% above Q1.
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