FI FIGR Figure Technology Solutions Inc. Loading... : Bullish and Bearish Analyst Opinions

Figure is a blockchain-based, capital-light mortgage marketplace with about 500 origination partners. It closes mortgages in about 5 days for roughly $1,000 versus industry averages of 45 days and $12,000, cuts third-party loan diligence costs by 80%, and uses on-chain asset tracking to prevent loan double-pledging fraud. The result is roughly 100% topline growth and 50% bottom-line growth, which management calls a Rule of 150 business, and management says investors should focus on this rare growth-plus-margin combination and Figure's market leadership in real-world asset origination.

Podcast promo summarizing a discussion on AI bottoming, bitcoin's market role, and fintech growth without stating the author's own positions or forward calls.

Figure Markets is misunderstood by Wall Street as a specialty HELOC lender. Its Q2 results show revenue growing 95% year-over-year and adjusted EBITDA growing 126% year-over-year, meaning profits are growing faster than revenue despite a falling take rate. Third-party Figure Connect origination is scaling rapidly: Figure Connect now accounts for 65% of consumer loan volume, up from 35%, with partner count rising from 144 to 498. This turns Figure into a blockchain-powered marketplace/exchange with better unit economics, operating leverage, and a Rule-of-40 score near 150-168, ahead of most S&P 500 companies except Nvidia and Micron. July on-chain data supports continued over-100% growth and Q3 guidance. Martin expects Wall Street to revise forecasts higher and the stock, around $30, to reprice toward the roughly $50 Wall Street median target.

Buy FIGR; author is a long-term shareholder with former board-level insight, citing 100%+ YoY revenue growth and 50%+ EBITDA growth as evidence of durable, high-quality compounding under CEO Mike Cagney. Conflict of interest noted.

Author suggests shorting BOT and buying Figure in secondary markets as an arbitrage opportunity, but Figure is not explicitly positioned as a long.

Figure is a blockchain-based lending platform with a successful home equity loan product (Hilo) and a growing marketplace (Figure Connect) with 400 partners. They just acquired a lender that will bring over $7B in annual volume and is profitable with ~$100M EBITDA. The company is profitable, growing 5-7% monthly on chain, and integrating with DeFi across Solana and Ethereum. Valuation around $5B is low, and on-chain metrics provide real-time transparency.

Avoid Figure due to complex closed-end fund dynamics; retail may overpay not understanding NAV dilution and float mechanics, risking a 5x+ overvaluation and $2B dilution.

Figure uses blockchain to simplify loan origination, driving costs down 90%. Revenue grew 92% YoY, adjusted EBITDA grew 192%. The marketplace volume is growing rapidly.

Long $FIGR — recent IPO with strong fundamentals; was market leader at one point; tightening above key levels; took starter at $35.9 area today.

Figure management selling shares in secondary offering; P/FCF 49x; speaker questions valuation and management's motives.

Speaker states Figure is over-rated, a valuation criticism without explicit short positioning or deterioration mechanism.