Figure Technology Solutions, Inc. (FIGR) Goldman Sachs 2025 U.S. Financial Services Conference December 10, 2025 12:20 PM EST

Company Participants

Michael Tannenbaum - CEO & Director

Conference Call Participants

James Yaro - Goldman Sachs Group, Inc., Research Division

Presentation

James Yaro Goldman Sachs Group, Inc., Research Division

Good afternoon. I’m James Yaro. I cover brokers, crypto investment banks here at Goldman Research. With us, we have Michael Tannenbaum, CEO of Figure Technology, a position he took over in 2024. He successfully led the company through its recent IPO. So congratulations on that. Figure offers robust growth and a unique innovative approach to fintech and blockchain technology. Prior to this role, Michael was COO at Brex and held senior positions at Brex and SoFi. Thank you so much for being here.

Michael Tannenbaum CEO & Director

Thanks for having me. Excited to be here.

Question-and-Answer Session

James Yaro Goldman Sachs Group, Inc., Research Division

Great. Michael. So let’s start on strategy here. So for investors who are new to the story, maybe lay out the simplest way to describe what Figure is building and why it matters?

Michael Tannenbaum CEO & Director

Sure. We’re building the future of capital markets on blockchain rails. We have a marketplace that offers origination of tokenized loans, sales and trading of those loans. And we started in the mortgage space. So we built a platform that enables our 250 partners which range from banks, credit unions, fintechs to originate assets in 5 days and for $1,000 versus industry average of $45,000 and $12,000.

So it’s a really disruptive approach to mortgage and to asset generation more broadly, and it’s a capital market that comes hand-in-hand with an origination technology. And because of that, we’re able to offer a really attractive margin, capital-light profile, which I think has been shown up

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