Figure Technology Solutions, Inc. (FIGR)

Nasdaq, OTC · Common Stock · Loan Brokers

One email a week from me: what it filed, which 13F holders added or cut, where its scores stand. Free.

Corporate structure

82 entities across 7 jurisdictions, 6 in offshore financial centres. Read directly from the company’s own 10-K EX-21 filed 2026-03-16 — see the exhibit.

Which other public companies file entities in the same places:

Delaware72 Cayman Islands4 British Virgin Islands2 Nevada1 California1 Ireland1 Maryland1

Subsidiaries of Figure Technology Solutions, Inc. as disclosed in its SEC filing
Entity	Jurisdiction	Note
Figure Lending Corp.	Delaware
DART Trademark LLC	Delaware
Figure Lending LLC	Delaware
DART Collateral Manager LLC	Delaware
Figure Loan Trust 2023	Delaware
Figure Asset Funding LLC	Delaware
Figure Line of Credit Trust 2020-1	Delaware
Figure HELOC Master Depositor Trust	Delaware
Figure Lending Borrower I, LLC	Delaware
Figure REPO Warehouse I, LLC	Delaware
Figure Lending Borrower II Trust	Delaware
Figure PL I, LLC	Delaware
Figure TCB Borrower LLC	Delaware
Figure Lending Borrower II LLC	Delaware
Fig SSP Member LLC	Delaware
Fig Six Mortgage LLC	Delaware
Fig Six Realty Investment LLC	Delaware
Fig Six Mortgage Sponsor LLC	Delaware
Fig Six Offshore Holdco, LLC	Delaware
Fig Six Finance 1 LLC	Delaware
Fig Six Purchaser Trust	Delaware
Fig Six Depositor Trust	Delaware
Fig Six Finance 1 Trust	Delaware
FIGRE Trust 2023-HE1	Delaware
FIGRE Trust 2023-HE1a2	Delaware
FIGRE Trust 2023-HE2	Delaware
FIGRE Trust 2023-HE3	Delaware
FIGRE Trust 2024-HE1	Delaware
FIGRE Trust 2024-HE2	Delaware
FIGRE Trust 2024-HE3	Delaware
FIGRE Trust 2024-HE4	Delaware
FIGRE Trust 2024-HE5	Delaware
FIGRE Trust 2024-SL1	Delaware
FIGRE Trust 2024-HE6	Delaware
FIGRE Trust 2026-HE1	Delaware
FIGRE Trust 2025-HE1	Delaware
FIGRE Trust 2025-HE2	Delaware
FIGRE Trust 2025-HE3	Delaware
FIGRE Trust 2025-HE4	Delaware
FIGRE Trust 2025-HE5	Delaware
FIGRE Trust 2025-HE6	Delaware
FIGRE Trust 2025-HE7	Delaware
FIGRE Trust 2025-HE8	Delaware
FIGRE Trust 2025-PF1	Delaware
FIGRE Trust 2025-PF2	Delaware
FIGRE Trust 2025-FL1	Delaware
FIGRE Trust 2025-FL2	Delaware
Figure Markets Holdings, Inc.	Delaware
Figure Technologies, LLC	Delaware
Figure Asset Management LLC	Delaware
Figure Equity Solutions, Inc.	Delaware
Figure Certificate Company	Delaware
Figure Markets, Inc.	Delaware
Figure Payments Corporation	Nevada
Figure Payments of California, Inc.	California
Figure Markets Trading, LLC	Delaware
Figure Securities, Inc.	Delaware
Figure Markets Credit LLC	Delaware
Figure Markets Credit Cayman Islands, Ltd	Cayman Islands	offshore centre
Figure Markets Cayman Islands Ltd	Cayman Islands	offshore centre
Figure Markets Ireland Limited	Ireland
Figure Markets (BVI) GP Limited	British Virgin Islands	offshore centre
Fam GP Sub 1, LLC	Delaware
Fam GP Sub 2, LLC	Delaware
Figure Investment Advisors, LLC	Delaware
Figure Market Margin LLC	Delaware
Figure Demo Prime 1, LLC	Delaware
Figure Markets Opportunity Investment LP	British Virgin Islands	offshore centre
Figure Markets Cayman GP Limited	Cayman Islands	offshore centre
SOL Opportunity Fund LP	Delaware
Figure REIT, Inc.	Maryland
Figure Markets Real World Asset Fund, LP	Cayman Islands	offshore centre
Figure Financial, Inc.	Delaware
Figure REIT Trust I	Delaware
Figure REIT Trust II	Delaware
Figure REIT TRS LLC	Delaware
Demo Prime 1 Trust	Delaware
Demo Prime 2 Trust	Delaware
Demo Prime 3 Trust	Delaware
Demo Prime DSCR Trust	Delaware
Demo Prime CBL Trust	Delaware
Demo Prime Auto Loan Trust	Delaware

Financial health

Two standard screens, computed from the XBRL in FY2025 against FY2024. Every test shows the numbers behind it — a score with its inputs hidden is a number you cannot check.

Piotroski F-score

5 / 8

PASSReturn on assets positiveROA 5.8%
PASSOperating cash flow positiveOCF 63M
PASSReturn on assets improving1.5% → 5.8%
FAILCash flow exceeds earningsOCF 63M vs NI 134M
PASSLong-term debt ratio falling14.5% → 9.9% of assets
PASSCurrent ratio improving1.37 → 2.20
FAILNo share dilution73M → 142M shares
FAILGross margin improvingno gross profit reported
FAILAsset turnover improving0.29× → 0.22×

Six-year record

Year	Revenue	Net income	Free cash flow	Gross margin	Shares
FY2023	$209.5M	−$47.9M	—	—	51,305,065
FY2024	$340.9M	$17.2M	—	—	72,637,457
FY2025	$506.9M	$133.9M	—	—	141,802,002

Capital returned

What the company actually paid out and bought back, as reported — the record behind any yield figure.

Shares repurchased

2026Q1: $9.7M
2025Q1: $0

Identity

CIK: 0002064124
LEI: 529900N4VMAE3O27FV77
FIGI: BBG01NGH78G1
SIC: 6163 · Loan Brokers
Incorporated: DE
Headquarters: RENO, NV

Ownership

Institutional: 76.7%
Institutions: 405
Insiders: 6.3%

Ownership percentages are a vendor aggregate, not a filing — unlike everything else on this page.

Related companies

Companies filing in the same SEC industry group.

Affirm Holdings, Inc.AFRM Enova International, Inc.ENVA Regional Management Corp.RM WORLD ACCEPTANCE CORPWRLD AMERICAN EXPRESS COAXP Big Digital Energy, Inc.BGDE

Questions about Figure Technology Solutions, Inc.

How many subsidiaries does Figure Technology Solutions, Inc. file with the SEC?: 82, listed in its most recent exhibit 21. They are incorporated across 7 jurisdictions, led by Delaware, Nevada, California. 6 of them sit in offshore financial centres. That exhibit is filed with the company's annual report and is the company's own list, not an estimate.
Is Figure Technology Solutions, Inc. financially healthy?: Figure Technology Solutions, Inc. scores 5 out of 8 on the Piotroski F-score. Only 8 of the nine tests could be computed from what it filed; the rest need a prior year it has not reported. Every test and the numbers behind it are shown above, so the arithmetic is checkable rather than something you have to take on trust.

This page is one panel of the terminal

The structure map above is the Corporate Blueprint, and in the desktop it is interactive — click any entity to re-centre the map on it and walk the ownership chain. It sits alongside the screener, the scorecard and the filings lab on one desk, on your machine.

Download the terminal See pricing

Sourced from SEC EDGAR primary filings. Figures are as reported by the company and are not investment advice. Scores are standard published screens computed from those filings; every input is shown above so you can check the arithmetic.

Corporate structure

82 entities across 7 jurisdictions, 6 in offshore financial centres. Read directly from the company’s own 10-K EX-21 filed 2026-03-16 — see the exhibit.

Entity

Jurisdiction

Note

Figure Lending Corp.

Delaware

DART Trademark LLC

Delaware

Figure Lending LLC

Delaware

DART Collateral Manager LLC

Delaware

Figure Loan Trust 2023

Delaware

Figure Asset Funding LLC

Delaware

Figure Line of Credit Trust 2020-1

Delaware

Figure HELOC Master Depositor Trust

Delaware

Figure Lending Borrower I, LLC

Delaware

Figure REPO Warehouse I, LLC

Delaware

Figure Lending Borrower II Trust

Delaware

Figure PL I, LLC

Delaware

Figure TCB Borrower LLC

Delaware

Figure Lending Borrower II LLC

Delaware

Fig SSP Member LLC

Delaware

Fig Six Mortgage LLC

Delaware

Fig Six Realty Investment LLC

Delaware

Fig Six Mortgage Sponsor LLC

Delaware

Fig Six Offshore Holdco, LLC

Delaware

Fig Six Finance 1 LLC

Delaware

Fig Six Purchaser Trust

Delaware

Fig Six Depositor Trust

Delaware

Fig Six Finance 1 Trust

Delaware

FIGRE Trust 2023-HE1

Delaware

FIGRE Trust 2023-HE1a2

Delaware

FIGRE Trust 2023-HE2

Delaware

FIGRE Trust 2023-HE3

Delaware

FIGRE Trust 2024-HE1

Delaware

FIGRE Trust 2024-HE2

Delaware

FIGRE Trust 2024-HE3

Delaware

FIGRE Trust 2024-HE4

Delaware

FIGRE Trust 2024-HE5

Delaware

FIGRE Trust 2024-SL1

Delaware

FIGRE Trust 2024-HE6

Delaware

FIGRE Trust 2026-HE1

Delaware

FIGRE Trust 2025-HE1

Delaware

FIGRE Trust 2025-HE2

Delaware

FIGRE Trust 2025-HE3

Delaware

FIGRE Trust 2025-HE4

Delaware

FIGRE Trust 2025-HE5

Delaware

FIGRE Trust 2025-HE6

Delaware

FIGRE Trust 2025-HE7

Delaware

FIGRE Trust 2025-HE8

Delaware

FIGRE Trust 2025-PF1

Delaware

FIGRE Trust 2025-PF2

Delaware

FIGRE Trust 2025-FL1

Delaware

FIGRE Trust 2025-FL2

Delaware

Figure Markets Holdings, Inc.

Delaware

Figure Technologies, LLC

Delaware

Figure Asset Management LLC

Delaware

Figure Equity Solutions, Inc.

Delaware

Figure Certificate Company

Delaware

Figure Markets, Inc.

Delaware

Figure Payments Corporation

Nevada

Figure Payments of California, Inc.

California

Figure Markets Trading, LLC

Delaware

Figure Securities, Inc.

Delaware

Figure Markets Credit LLC

Delaware

Figure Markets Credit Cayman Islands, Ltd

Cayman Islands

offshore centre

Figure Markets Cayman Islands Ltd

Cayman Islands

offshore centre

Figure Markets Ireland Limited

Ireland

Figure Markets (BVI) GP Limited

British Virgin Islands

offshore centre

Fam GP Sub 1, LLC

Delaware

Fam GP Sub 2, LLC

Delaware

Figure Investment Advisors, LLC

Delaware

Figure Market Margin LLC

Delaware

Figure Demo Prime 1, LLC

Delaware

Figure Markets Opportunity Investment LP

British Virgin Islands

offshore centre

Figure Markets Cayman GP Limited

Cayman Islands

offshore centre

SOL Opportunity Fund LP

Delaware

Figure REIT, Inc.

Maryland

Figure Markets Real World Asset Fund, LP

Cayman Islands

offshore centre

Figure Financial, Inc.

Delaware

Figure REIT Trust I

Delaware

Figure REIT Trust II

Delaware

Figure REIT TRS LLC

Delaware

Demo Prime 1 Trust

Delaware

Demo Prime 2 Trust

Delaware

Demo Prime 3 Trust

Delaware

Demo Prime DSCR Trust

Delaware

Demo Prime CBL Trust

Delaware

Demo Prime Auto Loan Trust

Delaware

Financial health

Two standard screens, computed from the XBRL in FY2025 against FY2024. Every test shows the numbers behind it — a score with its inputs hidden is a number you cannot check.

Piotroski F-score

5 / 8

PASSReturn on assets positiveROA 5.8%
PASSOperating cash flow positiveOCF 63M
PASSReturn on assets improving1.5% → 5.8%
FAILCash flow exceeds earningsOCF 63M vs NI 134M
PASSLong-term debt ratio falling14.5% → 9.9% of assets
PASSCurrent ratio improving1.37 → 2.20
FAILNo share dilution73M → 142M shares
FAILGross margin improvingno gross profit reported
FAILAsset turnover improving0.29× → 0.22×

Year

Revenue

Net income

Free cash flow

Gross margin

FY2023

$209.5M

−$47.9M

—

51,305,065

FY2024

$340.9M

$17.2M

—

72,637,457

FY2025

$506.9M

$133.9M

—

141,802,002

Questions about Figure Technology Solutions, Inc.

How many subsidiaries does Figure Technology Solutions, Inc. file with the SEC?

82, listed in its most recent exhibit 21. They are incorporated across 7 jurisdictions, led by Delaware, Nevada, California. 6 of them sit in offshore financial centres. That exhibit is filed with the company's annual report and is the company's own list, not an estimate.

Is Figure Technology Solutions, Inc. financially healthy?

Figure Technology Solutions, Inc. scores 5 out of 8 on the Piotroski F-score. Only 8 of the nine tests could be computed from what it filed; the rest need a prior year it has not reported. Every test and the numbers behind it are shown above, so the arithmetic is checkable rather than something you have to take on trust.