FIGR Figure Technology Solutions, Inc.

Overview and Growth

In fiscal 2025, Figure Technology Solutions, Inc. recorded $506.87M of revenue, net income of $133.86M, and an operating cash inflow of $62.57M. At $506.87M, the top line establishes the operating scale supporting the company’s profit and cash-flow profile. The top line expanded 48.7% from $340.88M in fiscal 2024, increasing the company’s operating scale. Diluted earnings per share were $0.44, translating the period’s attributable earnings into the amount reported for each diluted share. At period end, total assets were $2.32B, framing the scale of the company’s operating and financing commitments. Revenue equaled 0.22x of total assets, indicating how much reported top-line activity the company produced relative to its period-end asset base.

Profitability

The reported operating result was $117.53M, capturing profitability after direct costs and the operating expenses reflected in the statements. The operating result equaled 23.2% of revenue, placing the absolute operating-income figure in the context of the company’s sales base. After all reported below-operating-line items, the company recorded net income of $133.86M for the fiscal year. The final earnings result represented 26.4% of revenue, connecting the absolute net income figure with the company’s top-line scale. Pretax income was $113.67M, isolating the reported earnings outcome before the income-tax provision recognized for the fiscal year. Measured against revenue, pretax income equaled 22.4%, adding a pre-tax profitability layer between revenue and net income. The company recognized an income-tax benefit of $20.61M, increasing after-tax earnings relative to the pretax result. The effective tax-benefit relationship was 18.1% of positive pretax income. The relationship between net income and period-end equity was 10.8%, indicating the profitability achieved on book capital. The net-income-to-assets relationship measured 5.8%, showing earnings relative to the full balance sheet. Against $17.21M in fiscal 2024, the current $133.86M bottom line finished above the prior-year result in absolute terms.

Liquidity and Capital Structure

The company held $2.32B of assets against $1.08B of liabilities and $1.24B of equity, revealing how the asset base was financed. At period end, current assets of $1.86B compared with current liabilities of $846.01M, defining the company’s short-term resource position. At 2.2x, the current ratio shows that short-term assets were greater than short-term liabilities at period end. Cash and equivalents totaled $1.20B, identifying the most liquid reported component available within the broader current-asset balance. Measured only with cash and equivalents, coverage of current liabilities was 141.6%, excluding receivables and other current assets. Total debt was $230.14M, establishing the amount of borrowing carried within the company’s capital structure. The debt-to-equity relationship was 0.19x, showing how much debt the company carried for each unit of book equity. Debt represented 9.9% of total assets, placing borrowing in the context of the company’s full resource base. Equity equaled 53.4% of assets, showing the shareholder-capital layer within the company’s balance sheet. Relative to total assets, liabilities measured 46.6%, complementing the separate equity-based view of the company’s capital structure. Cash and equivalents equaled 51.7% of total assets, showing the liquid cash component within the company’s broader resource base. Compared with $1.16B in fiscal 2024, the current asset base moved 99.9% and finished higher. Reported equity changed 240.5% from $363.38M in fiscal 2024, placing the current capital base higher year over year. The reported cash balance changed 313.6% from $289.67M in fiscal 2024, ending higher year over year.

Cash Flow and Earnings Quality

The company reported $62.57M of operating cash flow, a cash inflow that shows the cash generated by operations. The operating-cash-flow-to-net-income relationship was 0.47x, comparing cash generated by operations with the bottom-line earnings result.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Sep 24, 2026.