Figure Technology Solutions reports $5,119 million loan volume
- Figure Technology Solutions reported a preliminary third-quarter consumer loan marketplace volume of $5,119 million.
- The volume represented a 107% year-over-year increase, though the company's share price traded lower following the update.
- The company expects to integrate the September volume contributions from its Kiavi merger into its upcoming November financial report.
Figure Technology Solutions (NASDAQ:FIGR) reported preliminary third-quarter consumer loan marketplace volume of $5,119 million.
The total represented a 107% year-over-year increase against a prior guidance range of $4.8 billion to $5.2 billion.
September volume specifically reached $1,783 million, representing a 9% increase from August and a 104% year-over-year gain.
Concurrently, YLDS circulation hit $504 million while Democratized Prime borrower demand increased to $600 million.
Following the announcement, Figure Technology Solutions' share price was down at $27.35.
The preliminary quarterly figures strictly excluded any loan volume contributions from the recent Kiavi merger.
The company stated that the integrated Kiavi contributions will accompany its final financial results in November.
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