Figure published its FY 2025 annual report on Form 10-K, reporting net revenue of USD 506.87 million and net income of USD 134.28 million. FY 2025 ecosystem and technology fees rose more than quadrupled to USD 120.81 million, which the company attributed primarily to growth in Figure Connect volume and higher program fees tied to increased securitization volume. FY 2025 adjusted EBITDA increased 147.6% to USD 251.16 million. As of Dec. 31, 2025, cash and cash equivalents totaled USD 1.2 billion and marketable securities were USD 273.15 million. In its business update, Figure said it launched the On-Chain Public Equity Network $(OPEN)$ in February 2026 and that its board authorized a USD 200 million share repurchase program in February 2026.

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