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22m ago

Figma Slides After First Post-IPO Earnings on In-Line Outlook

Investor caution reflects in-line guidance against a premium valuation with a lock-up release approaching.

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Overview

  • Second-quarter revenue rose 41% to $249.6 million, a slight beat versus estimates, in the company’s first report since its July IPO.
  • Figma forecast third-quarter revenue of $263 million to $265 million and full-year sales of $1.021 billion to $1.025 billion.
  • Shares fell roughly 13% in extended trading on Wednesday and were down as much as 16% early Thursday following the results.
  • Management emphasized platform expansion with AI tools including Figma Make, Sites, Draw, and Buzz, and disclosed acquisitions of Modyfi and Payload.
  • Figma reported net income of $846,000 and a 129% net dollar retention rate for larger customers, while a partial employee lock-up release is expected to allow sales starting Sept. 5 with extended lock-ups into 2026 for many holders.