Overview

• Shares fell roughly 18%–20% Thursday to the lowest level since the IPO, with multiple banks trimming price targets.
• Second-quarter revenue rose 41% to $249.6 million and adjusted EPS reached $0.09, both slightly above estimates, as net dollar retention came in at 129%.
• Management projected Q3 revenue of $263–$265 million (about 33% growth) and full-year sales of $1.021–$1.025 billion (about 37%), indicating decelerating growth.
• About 25% of employee-held shares became eligible to trade today following an early lock-up release, while major holders remain under extended agreements into 2026.
• Figma flagged significant near-term margin pressure from AI investment; it also disclosed roughly $90–$91 million in Bitcoin via an ETF, with the CEO stressing it remains a design company.