Figure Technology Solutions, Inc.
For the period ended Sep 30, 2025. Filed Nov 13, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Nov 13, 2025
FIGR$23.34-4.8%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Condensed Consolidated Statements of Cash Flows
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
(in thousands)
| Nine Months EndedSeptember 30, | ||
|---|---|---|
| 2025 | 2024 | |
| Operating Activities: | ||
| Net income | $119,203 | $14,026 |
| Adjustments to reconcile net loss to net cash flows used in operating activities: | ||
| Gain on servicing asset, net | (11,502) | (18,580) |
| Gain on sale of loans, net | (126,130) | (116,069) |
| Loss (gain) on sale of digital assets | (2,979) | (7,065) |
| Income from fund and equity method investments | 475 | 296 |
| Amortization of deferred financing costs | 732 | 712 |
| Amortization of internally developed software | 12,381 | 13,255 |
| Impairment of internally developed software costs | — | 8,591 |
| Impairment of digital assets | — | 5,851 |
| Services exchanged for issuance of warrants | 7,863 | 4,019 |
| Stock-based compensation expense | 22,730 | 34,526 |
| Losses on repurchased loans | 2,268 | 5,951 |
| Net change in operating assets and liabilities: | ||
| Proceeds from loan sales, net of repurchases | 4,599,255 | 3,553,500 |
| Originations of loans held for sale | (2,561,856) | (2,409,864) |
| Purchases of loans held for sale | (2,221,013) | (1,568,000) |
| Principal payments on loans held for sale | 324,568 | 334,777 |
| Purchases of marketable securities | (141,878) | (81,622) |
| Proceeds from sale of marketable securities | — | 872 |
| Principal payments on marketable securities | 62,517 | 8,342 |
| Accounts receivable, net | (25,240) | 3,682 |
| Other assets | (54,528) | (12,994) |
| Accounts payable and other liabilities | 42,431 | 11,429 |
| Net cash provided by (used in) operating activities | 49,297 | (214,365) |
| Investing activities: | ||
| Capitalization of internally developed software costs | (16,077) | (12,498) |
| Investment contributions | (2,477) | (3,314) |
| Purchases of digital assets | (9,938) | (25,777) |
| Proceeds from sales of digital assets | 12,634 | 10,842 |
| Loan receivable issued to related parties | — | (2,030) |
| Payment on note receivable from related parties | — | 809 |
| Distributions from investments | 797 | — |
| Realized losses on futures | (5,766) | — |
| Sale of internally developed software | — | 1,000 |
| Net cash used in investing activities | (20,827) | (30,968) |
| Financing activities: | ||
| Proceeds from debt | 4,169,636 | 3,459,213 |
| Principal payments on debt | (4,175,300) | (3,217,322) |
| Payments of deferred financing costs | (1,494) | (1,574) |
| Proceeds from issuance of common stock in connection with initial public offering, net of underwriting discounts and commissions | 663,443 | — |
| Proceeds from servicing activity on behalf of third-party loan owners | 123,086 | 60,390 |
| Proceeds from issuance of preferred stock | — | 71,774 |
| Distributions to shareholders | — | (2,765) |
| Proceeds from exercises of stock options | 8,737 | 867 |
| Other financing activities | 102 | 258 |
| Net cash provided by financing activities | 788,210 | 370,841 |
| Net increase in cash, cash equivalents, and restricted cash | 816,680 | 125,508 |
| Cash, cash equivalents, and restricted cash, beginning of period | 345,033 | 175,780 |
| Cash, cash equivalents, and restricted cash, end of period | $1,161,713 | $301,288 |
| Supplemental cash flow disclosures | ||
| Cash paid during the period for interest | $36,371 | $41,117 |
| Cash paid during the period for income taxes | 8,015 | 48 |
| Supplemental disclosures of non-cash investing and financing activities | ||
| Stock-based compensation included in capitalized internally developed software | 329 | 401 |
| Contribution from related party | — | 1,500 |
| Distribution of noncontrolling interest in fund | — | 8 |
| Distributions from Onshore Solana Fund | 1,759 | — |
| Transfers from held for sale to held for investment | — | 4,959 |
| Other capital contributions | — | 2,958 |
| Accrued issuance costs | 3,533 | 1,025 |
| Unrealized losses on futures | 318 | — |
| Right of use assets obtained in exchange for operating lease liabilities | 3,080 | — |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.