Figure Q2 profit jumps 192% as loan volume reaches $4.3B

Figure Technology Solutions reported $4.26 billion in Consumer Loan Marketplace volume for the second quarter on Aug. 13, up 132% from a year earlier and 47% from the first quarter. Summary Consumer loan marketplace volume reached $4.3 billion, rising 132% year over year during the quarter. Net income climbed 192% to $87 million as quarterly net revenue more than doubled overall. Figure Connect handled $2.8 billion, representing 65% of total consumer loan marketplace volume during Q2. Figure added 102 origination partners, bringing its active partner network to 489 by quarter end. Q3 consumer loan marketplace volume is guided between $4.8 billion and $5.2 billion by management. The Nasdaq-listed blockchain lending company also reported net income of $87.4 million, up 192%, while net revenue more than doubled to $225.6 million. The results mark Figure’s strongest quarter since becoming a public company and show a growing share of activity moving through its capital-light marketplace model. Figure Connect accounted for $2.77 billion, or 65%, of total consumer loan marketplace volume, compared with $767 million a year earlier. Figure Connect now handles 65% of marketplace volume Figur...