TechFlow, November 14 — According to The Block, blockchain lending platform Figure delivered strong third-quarter results, reporting adjusted revenue of approximately $156 million, 30% above market expectations, and adjusted EBITDA of $86 million, exceeding forecasts by 60%. Total loan volume rose 34% quarter-on-quarter to $2.5 billion, with blockchain-powered partnership channel loans accounting for 76%. Transaction volume on the Figure Connect platform increased 48% quarter-on-quarter to $1.1 billion. Bernstein analysts maintained their "outperform" rating with a $54 price target, implying 56% upside from current levels. Figure founder Mike Cagney previously co-founded SoFi, and the company has become a leading non-bank originator of home equity lines of credit (HELOC) in the United States.
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