Slide 1: Q4 2025 Earnings Presentation
Q4 2025 Earnings Presentation February 26, 2026 1
Slide 2: Disclaimer
Disclaimer Cautionary Note Regarding Forward-Looking Statements This presentation contains forward‑looking statements intended to be covered by the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All
Slide 3: Q4'25 at a glance
Q4‘25 at a glance Consumer Loan $YLDS in Circulation Democratized Prime Marketplace Volume Matched Offers $2.7 billion $328 million $206 million +131% YoY Launched in February 2025 Launched in June 2025 Adjusted Net Revenue Adjusted EBITDA Adjusted EBITDA Margin $158 million $81 million 51.6% +106%
Slide 4: Strong growth through winter seasonality
Strong growth through winter seasonality Triple-digit growth year-over-year across all core financial metrics Consumer Loan Marketplace Volume ($B) Adjusted Net Revenue ($M) Adjusted EBITDA ($M) Adjusted EBITDA Margin (%) $157.6 $156.0 $2.7 55% $2.5 $86.4 $81.3 52% $110.0 $76.6 $49.4 45% $1.5 $1.2 $
Slide 5: Accelerating growth in new marketplace categories
Accelerating growth in new marketplace categories Consumer Marketplace Extensions Democratized Prime / Figure Connect Applications Newly launched product categories are scaling exponentially 2.0 X 4.3 X ~$100m SMB Volume QoQ DSCR Volume QoQ New Product Volume In Q4’25 Residential Transition Loans Au
Slide 6: The road ahead is paved on-chain
The road ahead is paved on-chain Agora auto finance partnership adds real horsepower to the Figure flywheel Capital markets highway ~$1.6 trillion1 Democratized Prime DeFi native warehouse financing Auto Lending TAM Leading AI-powered auto financial solution DART Immutable blockchain registry Loans
Slide 7: 2026 marks the year of the first-lien
2026 marks the year of the first-lien Figure First-Lien Origination Volume (in millions) Figure’s first-lien % of Consumer Loan Marketplace Volume $600 $506M Unlocks lower rates for borrowers while reducing cost to originate by over 90%1 $500 $419M $400 Figure’s low cost approach to mortgage origina
Slide 8: Digital Assets Highlights
Digital Assets Highlights Building Ubiquity Democratized Prime Highlights Partnerships for $YLDS RWA Consortium $464M $337M+ Launched OPEN exchange $YLDS in Circulation Matched Offers Launched RWA consortium for Finance on Solana ~22x $348M+ Growth since Q3’25 Available Supply Upsized Inaugural list
Slide 9: Figure's 2026 core pillars
Figure’s 2026 core pillars Drive higher penetration of Figure Connect and Democratized Prime to 1 Scale the Marketplace deepen liquidity and improve capital efficiency with a durable margin profile Increase addressable volume through first-lien, mortgage-adjacent and 2 Expand Product Set non mortgag
Slide 10: Appendix
Appendix
Slide 11: GAAP / Non-GAAP Income Statement Reconciliation
GAAP / Non-GAAP Income Statement Reconciliation 11
Slide 12: Key Operating Metric Definitions; Non-GAAP Financial Measures
Key Operating Metric Definitions Non-GAAP Financial Measures Consumer Loan Marketplace Volume: We define Consumer Loan Marketplace Volume as the total U.S. dollar equivalent value In order to better help understand our financial performance, we use several key performance metrics that should be view
Slide 13: ©2026 Figure Technologies Inc. All rights reserved.
©2026 Figure Technologies Inc. All rights reserved. 13