Is FIGR a good stock to buy? We came across a bullish thesis on Figure Technology Solutions, Inc. on Artemis Big Fundamentals’s Substack by Mario Stefanidis. In this article, we will summarize the bulls’ thesis on FIGR. Figure Technology Solutions, Inc.’s share was trading at $36.30 as of April 20th. FIGR’s trailing P/E was 82.50 according to Yahoo Finance.
Figure Technology Solutions, Inc., a financial technology company, provides blockchain-based products and solutions in the United States. FIGR presents a compelling opportunity following a sharp 26% selloff that erased $2 billion in market value despite delivering a record Q4. The company reported 91% revenue growth, 131% loan volume growth, and 426% adjusted EBITDA growth, yet investor concerns over a GAAP EPS miss and cautious analyst commentary drove the decline.
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Importantly, the earnings miss was largely due to non-recurring stock-based compensation, with underlying performance remaining exceptionally strong. The market reaction appears driven more by macro fears סביב crypto exposure and growth stocks rather than fundamentals, creating a disconnect between valuation and earnings power.
Figure operates at the intersection of traditional finance and blockchain, leveraging a vertically integrated platform spanning loan origination, capital markets, asset registry, and on-chain liquidity. Its ecosystem—anchored by products like Figure LOS, Connect, DART, and emerging initiatives like OPEN—enables faster, cheaper, and more efficient financial transactions, with structural cost advantages that incumbents struggle to match. The company’s transition toward a capital-light marketplace model is driving margin expansion and operating leverage.
Growth remains robust, with expansion into first-lien mortgages, auto lending, and SMB financing unlocking significant total addressable markets. Declining mortgage rates further act as a tailwind, supporting origination volumes and securitization economics. Meanwhile, on-chain metrics such as loan disbursements and total value locked continue to accelerate, reinforcing strong underlying demand.
At approximately 15.5x forward EV/EBITDA, FIGR trades below peers despite superior growth and profitability, supported by a strong balance sheet and share buyback program. While risks remain, including macro sensitivity and regulatory uncertainty, the current valuation offers an attractive risk/reward as the company scales its differentiated financial infrastructure platform.
