Figure Technology Solutions, the blockchain-based lending company, delivered sharp growth in its second-quarter results, driven by higher activity across its Consumer Loan Marketplace. Net revenue reached $225.6 million for the period ended June 30, an increase of 113 percent from the same quarter a year earlier. Net income rose 192 percent to $87.4 million, while adjusted EBITDA climbed 126 percent to $119.4 million.

Shares of the company advanced roughly 5 percent in premarket trading on Thursday after gaining about 10 percent the prior session.

Marketplace Volumes Lead Growth

Activity on Figure’s Consumer Loan Marketplace totaled $4.3 billion in the second quarter, up 132 percent year over year. Figure Connect, the platform that links loan originators with capital providers, accounted for $2.8 billion of that volume, or approximately 65 percent of the total. Figure Connect volume itself increased 262 percent from the year-ago period.

The company added 102 loan-origination partners during the quarter, bringing its total active partners to 489. These partners include mortgage lenders, banks and fintech firms. Weekly loan applications exceeded $1 billion in July, according to CEO Michael Tannenbaum.

Small- and medium-business lending also expanded. SMB loan volume rose 57 percent from the previous quarter. The company added SMB pools to its Democratized Prime marketplace, where third-party borrowing reached about $170 million as of August 6.

Onchain Products and Forward Outlook

Circulation of YLDS, Figure’s yield-bearing stablecoin, stood at $556 million at the end of June, up from $328 million at the end of 2025. The firm continues to move lending and related capital-market activity onto blockchain infrastructure, supporting the origination, financing and trading of assets such as home-equity loans.

For the third quarter, Figure expects Consumer Loan Marketplace volume between $4.8 billion and $5.2 billion.

Kiavi Acquisition Progress

Figure’s planned acquisition of real estate lender Kiavi remains on track to close in the second half of 2026. The company agreed in June to acquire Kiavi for approximately $717 million, with Figure contributing $538 million and Sixth Street contributing $179 million. The parties will form a joint venture to acquire certain Kiavi assets, while Figure will integrate Kiavi’s platform and DSCR loan business. The deal is intended to expand Figure into adjacent real estate lending markets and increase loan flow onto its marketplace.

Figure, co-founded by former SoFi chief executive Mike Cagney, who serves as executive chairman, is among the more established publicly traded firms advancing blockchain-based lending and capital markets infrastructure.