# EDGAR Filing Document

**Accession Number:** 0002064124
**File Stem:** 0001493152-26-006658
**Filing Date:** 2026-2
**Character Count:** 18826
**Document Hash:** 950fcae570cad246090e71e40a389a6a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001493152-26-006658.hdr.sgml**: 20260213

**ACCESSION NUMBER**: 0001493152-26-006658

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 13

**CONFORMED PERIOD OF REPORT**: 20260213

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20260213

**DATE AS OF CHANGE**: 20260213

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Figure Technology Solutions, Inc.
- **CENTRAL INDEX KEY:** 0002064124
- **STANDARD INDUSTRIAL CLASSIFICATION:** LOAN BROKERS [6163]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-42829
- **FILM NUMBER:** 26631815

**BUSINESS ADDRESS:**
- **STREET 1:** 100 WEST LIBERTY ST.
- **STREET 2:** SUITE 600
- **CITY:** RENO
- **STATE:** NV
- **ZIP:** 10018
- **BUSINESS PHONE:** (917) 789-8049

**MAIL ADDRESS:**
- **STREET 1:** 100 WEST LIBERTY ST.
- **STREET 2:** SUITE 600
- **CITY:** RENO
- **STATE:** NV
- **ZIP:** 10018

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FT Intermediate, Inc.
- **DATE OF NAME CHANGE:** 20250408

?xml version='1.0' encoding='ASCII'?

**UNITED STATES** 

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 8-K**

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d)**

**of the Securities Exchange Act of 1934**

**Date of Report (Date of earliest event reported): February 13, 2026**

**Figure Technology Solutions, Inc.**

**(Exact name of registrant as specified in its charter)**

---

| | | |
|:---|:---|:---|
| **Nevada** | **001-42829** | **99-2556408** |
| **(State or other jurisdiction**<br> **of incorporation)** | **(Commission**<br> **File Number)** | **(IRS Employer**<br> **Identification No.)** |

---

---

| | |
|:---|:---|
| **100 West Liberty Street, Suite 600**<br> **Reno, Nevada** | **89501** |
| **(Address of principal executive offices)** | **(Zip Code)** |

---

**Registrant's telephone number, including area code: (917) 789-8049**

**Not Applicable**

(**Former name or former address, if changed since last report)**

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| **Title of each class** | **Trading Symbol** | **Name of each exchange on which registered** |
| **Class A Common Stock, par value $0.0001 per share** | **FIGR** | **The Nasdaq Stock Market LLC** |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

**Item 2.02 Results of Operations and Financial Condition.**

On February 13, 2026, Figure Technology Solutions, Inc. (the "Company") issued a press release announcing certain preliminary financial results for the quarter ended December 31, 2025. A copy of the press release is being furnished as Exhibit 99.1 to this Current Report on Form 8-K.

The information contained in this Current Report on Form 8-K (including Exhibit 99.1 hereto) shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act") or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing.

**Item 9.01 Financial Statements and Exhibits.**

(d) The following exhibits are being filed herewith:

---

| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| 99.1 | [Press Release dated February 13, 2026](ex99-1.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

---

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | |
|:---|:---|:---|
|  | FIGURE TECHNOLOGY SOLUTIONS, INC. | FIGURE TECHNOLOGY SOLUTIONS, INC. |
| Date: February 13, 2026 | By: | */s/ Michael Tannenbaum* |
|  |  | Michael Tannenbaum |
|  |  | Chief Executive Officer and Director |

---

## Exhibit 99.1

**Exhibit 99.1**

**Figure Technology Solutions Announces Preliminary Fourth Quarter & Full Year 2025 Financial Results**

NEW YORK, Feb. 13, 2026 (GLOBE NEWSWIRE) — Figure Technology Solutions (Nasdaq: FIGR), the leading blockchain-native capital marketplace for the origination, funding, sale and trading of tokenized assets, today announced preliminary unaudited financial results for the fourth quarter and full year ended December 31, 2025. Additionally, the Company filed a registration statement on Form S-1 that contained preliminary results of operations for the same periods.

<br> "We are closing the year with strong fourth quarter results, reflecting growing momentum for Figure. We achieved triple-digit year-over-year growth in Consumer Loan Marketplace volume, increased adoption of Figure Connect, and saw expanding activity within our blockchain ecosystem, reinforcing the diversity and scalability of our model.

Looking ahead, we remain focused on expanding our partner network, deepening our marketplace liquidity, and advancing our blockchain-native infrastructure. This quarter's strong results reflect the meaningful progress we've already made in modernizing capital markets and position us to further accelerate that transformation."

- Michael Tannenbaum, CEO

**<u>Fourth Quarter 2025 Preliminary Expected Results</u>**

● Consumer Loan Marketplace Volume of $2.7 billion, an increase of 131% year-over-year.

● Net Revenue of $158.0 to $162.0 million

● Adjusted Net Revenue of $155.5 to $160.5 million

● GAAP Net Income of $12.5 to $13.5 million

● Adjusted EBITDA of $80.0 to $83.0 million

● Adjusted EBITDA margin of 49.8% to 53.4%

**<u>Full Year 2025 Preliminary Expected Results</u>**

● Consumer Loan Marketplace Volume of $8.4 billion, an increase of 63% year-over-year.

● Net Revenue of $505.0 to $509.0 million

● Adjusted Net Revenue of $512.5 to $517.5 million

● GAAP Net Income of $131.5 to $132.5 million

● Adjusted EBITDA of $249.0 to $252.0 million

● Adjusted EBITDA margin of 48.1% to 49.2%

**<u>Webcast Information</u>**

Figure will host a conference call and webcast at 4:30 p.m. Eastern Time, Thursday, February 26, 2026 to discuss its results and outlook. A link to the live discussion and accompanying presentation will be made available on the Company's investor relations website at https://investors.figure.com/. A replay will also be made available following the discussion at the same website.

**<u>Preliminary Unaudited Financial Data</u>**

We have presented above certain preliminary operating results representing our estimates for the fourth quarter and year ended December 31, 2025. These preliminary estimates are based on currently available information and do not present all information necessary for an understanding of our operating results as of and for the three months and year ended December 31, 2025. This information has been prepared by and is the responsibility of our management. Our independent registered public accounting firm has not audited, reviewed, or completed performing their procedures with respect to the preliminary operating results included below and does not express an opinion or any other form of assurance with respect thereto. We will complete the preparation of our consolidated financial statements as of and for the fourth quarter and year ended December 31, 2025 following the completion of this offering. Although we are currently unaware of any items that would require us to make adjustments to the information set forth below, it is possible that we or our independent registered public accounting firm may identify such items as we complete our consolidated financial statements, and any resulting changes could be material. Accordingly, undue reliance should not be placed on these preliminary estimates. There can be no assurance that the range of our preliminary estimates of total net revenue, net income, Adjusted Net Revenue, and Adjusted EBITDA for the three months and year ended December 31, 2025 are indicative of what our results will be for the three months and year ended December 31, 2025 or for any future period. These preliminary estimates should be read together with the sections titled "Risk Factors" and "Special Note Regarding Forward-Looking Statements" and our consolidated financial statements and related notes included elsewhere in this prospectus. Adjusted Net Revenue and Adjusted EBITDA are supplemental measures that are not calculated or presented in accordance with GAAP. See the section titled "Management's Discussion and Analysis of Financial Condition and Results of Operations—Non-GAAP Financial Measures" for more information about our non-GAAP measures.

**<u>About Non-GAAP Financial Measures and Other Performance Metrics</u>**

**Financial Measures**

In order to better help understand our financial performance, we use several key performance metrics that should be viewed independently of GAAP items, as these metrics are not intended to be combined with those items. Our determination and presentation of these metrics may differ from that of other companies. The presentation of these metrics is meant to be considered in addition to, not as a substitute for or in isolation from, our financial measures prepared in accordance with GAAP.

**Adjusted Net Revenue**

Adjusted Net Revenue is a non-GAAP financial measure used by our management to evaluate operating performance. Accordingly, we believe this measure provides useful information to investors and others in understanding and evaluating our operating results in the same manner as our management and board of directors. In addition, Adjusted Net Revenue provides a useful measure for period-to-period comparisons of our business, as it removes the effect of a non-cash, non-realized adjustment that is included in net revenue. Adjusted Net Revenue is defined as net revenue excluding the change in fair value of MSR associated with changes in our estimates that management has determined are not reflective of our operating performance.

**Adjusted EBITDA**

Adjusted EBITDA is a non-GAAP financial measure used by our management to evaluate operating performance, generate future operating plans, and make strategic decisions, including those relating to operating expenses and the allocation of internal resources. Accordingly, we believe this measure provides useful information to investors and others in understanding and evaluating our operating results in the same manner as our management and board of directors. In addition, Adjusted EBITDA provides a useful measure for period-to-period comparisons of our business, as it removes the effect of certain non-cash items, variable charges, non-recurring items, unrealized gains or losses or other similar non-cash items that are included in net income or expenses associated with the early stages of the business that are expected to ultimately terminate, pursuant to the terms of certain existing contractual arrangements or expected to continue at levels materially below the historical level, or that otherwise do not contribute directly to management's evaluation of its operating results. Adjusted EBITDA is defined as net income excluding interest expense incurred in connection with our debt obligations other than debt associated with our funding of loans held for sale, income taxes, amortization and depreciation expense, stock-based compensation expense, non-cash changes in certain financial instruments, and other items that management has determined are not reflective of our operating performance.

Full reconciliations of each historical adjusted measure to the most comparable GAAP financial measure are set forth below.

---

| | | | |
|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** |
| | **2025** | **2025** | **2024** |
| <br>**$ in thousands** | **Low (estimated)** | **High (estimated)** | **Actual** |
| Total Net Revenue | $158000 | $162000 | $83855 |
| Plus: Valuation Changes in Fair Value of MSRs | (2500) | (1500) | (7219) |
| Adjusted Net Revenue | $155500 | $160500 | $76636 |
| Net Income (A) | $12500 | $13500 | $5889 |
| Plus: Valuation Changes in Fair Value of MSRs | (2500) | (1500) | (7219) |
| Plus: Change in Fair Value of Digital Assets and Related Investments (B) | 9000 | 9000 | (2686) |
| Plus: Impairment of Capitalized Software |  |  |  |
| Plus: Impairment of Digital Assets |  |  | 8 |
| Plus: Other Asset Impairment Charge |  |  | 4970 |
| Plus: Services exchanged for Issuance of Warrants | 2000 | 2000 | 2565 |
| Plus: Registration Costs (C) | 2000 | 2000 |  |
| Plus: Restructuring Costs |  |  | 1 |
| Plus: Stock-Based Compensation Expense (D) | 40000 | 40000 | 4200 |
| Plus: Amortization of Internally Developed Software Costs | 4000 | 4000 | 3858 |
| Plus: Non-Funding Interest Expense | 5000 | 5000 | 3480 |
| Plus: Income Tax Provision (E) | 8000 | 9000 | 389 |
| Adjusted EBITDA | $80000 | $83000 | $15455 |

---

(A) During the three months ended December 31, 2025, the company experienced higher professional services and insurance costs as a newly formed public company.

(B) The change in fair value of digital assets and related investments consists of (i) the change in the fair value of digital assets, and (ii) the change in our ratable investment in the Domestic Solana Fund.

(C) Registration costs represent costs incurred in relation to this offering.

(D) Stock-based compensation expense for the 3 months ended December 31, 2025 makes up approximately 64% of stock compensation expense for the year ended December 31, 2025, primarily driven by one time fully vested grants to third party advisors and for certain of our restricted stock units that apply graded vesting which accelerates the recognition of stock based compensation expense to earlier years within the vesting period.

(E) During the three months ended September 30, 2025, the company recognized a one time tax benefit due to the Recombination of $32 million.

---

| | | | |
|:---|:---|:---|:---|
| | **Year Ended** | **Year Ended** | **Year Ended** |
| | **2025** | **2025** | **2024** |
| <br>**$ in thousands** | **Low (estimated)** | **High (estimated)** | **Actual** |
| Total Net Revenue | $505000 | $509000 | $340885 |
| Plus: Valuation Changes in Fair Value of MSRs | 7500 | 8500 | (1703) |
| Adjusted Net Revenue | $512500 | $517500 | $339182 |
| Net Income (A) | $131500 | $132500 | $19915 |
| Plus: Valuation Changes in Fair Value of MSRs | 7500 | 8500 | (1703) |
| Plus: Change in Fair Value of Digital Assets and Related Investments (B) | 12500 | 12500 | (10674) |
| Plus: Impairment of Capitalized Software |  |  | 8591 |
| Plus: Impairment of Digital Assets |  |  | 5859 |
| Plus: Other Asset Impairment Charge |  |  | 4970 |
| Plus: Services exchanged for Issuance of Warrants | 9500 | 9500 | 6584 |
| Plus: Registration Costs (C) | 6000 | 6000 |  |
| Plus: Restructuring Costs | 4000 | 4000 | 2498 |
| Plus: Stock-Based Compensation Expense (D) | 63000 | 63000 | 38726 |
| Plus: Amortization of Internally Developed Software Costs | 16000 | 16000 | 17113 |
| Plus: Non-Funding Interest Expense | 18000 | 18000 | 7387 |
| Plus: Income Tax Provision (E) | (19000) | (18000) | 2177 |
| Adjusted EBITDA | $249000 | $252000 | $101443 |

---

(A) During the three months ended December 31, 2025, the company experienced higher professional services and insurance costs as a newly formed public company.

(B) The change in fair value of digital assets and related investments consists of (i) the change in the fair value of digital assets, and (ii) the change in our ratable investment in the Domestic Solana Fund.

(C) Registration costs represent costs incurred in relation to this offering and Figure's initial public offering in September 2025.

(D) Stock-based compensation expense for the 3 months ended December 31, 2025 makes up approximately 64% of stock compensation expense for the year ended December 31, 2025, primarily driven by one time fully vested grants to third party advisors and for certain of our restricted stock units that apply graded vesting which accelerates the recognition of stock based compensation expense to earlier years within the vesting period.

(E) During the three months ended September 30, 2025, the company recognized a one time tax benefit due to the Recombination of $32 million.

**<u>About Figure Technology Solutions, Inc</u>**

Figure Technology Solutions, Inc. (Nasdaq: FIGR) is a blockchain-native capital marketplace that seamlessly connects origination, funding, and secondary market activity. More than 200 partners use its loan origination system and capital marketplace. Collectively, Figure and its partners have originated over $22 billion of home equity to date, among other products, making Figure's ecosystem the largest non-bank provider of home equity financing. The fastest growing components are Figure Connect, its consumer credit marketplace, and Democratized Prime, Figure's on-chain lend-borrow marketplace. Figure's ecosystem also includes DART (Digital Asset Registry Technology) for asset custody and lien perfection, and $YLDS, an SEC-registered yield-bearing stablecoin that operates as a tokenized money market fund.

Figure is the market leader in real world asset (RWA) tokenization and its most recent securitization received a AAA rating from S&P and Moody's, the first of its kind for blockchain finance. For more information, visit <u>https://figure.com</u> or follow Figure on <u>LinkedIn.</u>