Dylan Field, co-founder and CEO of Figma, center, appears on the floor of the New York Stock Exchange in New York on July 31, 2025. Figma Inc. shares surged as much as 229% after the design software maker and some of its shareholders raised $1.2 billion in an IPO, with the trading valuing the company far above the $20 billion mark it would have reached in a now-scrapped merger with Adobe Inc.
Michael Nagle | Bloomberg | Getty Images
Design software maker Figma on Wednesday reported stronger-than-expected third-quarter revenue and quarterly revenue guidance. The stock moved as much as 6% higher in extended trading.
Here’s how the company did in comparison with LSEG consensus:
Earnings per share: 10 cents adjustedRevenue: $274.2 million vs. $265.2 million expected
Figma’s revenue grew 38% year over year in the third quarter, according to a statement.
The company’s net loss ballooned to $1.10 billion, or $2.72 per share, from $15.6 million, or 7 cents per share, in the same quarter a year ago.
The adjusted earnings per share excluded a major increase in stock-based compensation expense.
The company reported an adjusted operating margin of 12%, above StreetAccount’s consensus of 6.5%.
Some of the growth derives from the adoption of Figma Make, a product that develops app designs using generative artificial intelligence models. About 30% of customers spending over $100,000 in annualized revenue are using Figma Make weekly, CEO and co-founder Dylan Field told CNBC in an interview.
“That continues to grow, and overall sort of across the business, Figma Make was a big driver of new customers in Q3,” he said.
Figma’s net dollar retention rate for clients spending at least $10,000 on an annualized basis, a reflection of expansion among the existing customer base, was 131%, up from 129% in the second quarter.
At the same time, Figma’s base of large customers is expanding. It reported 1,262 organizations with over $100,000 in annualized spending at the end of September, up about 13% from the count at the end of June.
Figma sees $292 million to $294 million in fourth-quarter revenue, above LSEG’s $283 million consensus. The range implies 35% growth.
Figma raised $1.2 billion when it went public on the New York Stock Exchange in July, pricing shares at $33 each. The stock closed at $44.01 on Wednesday, good for a 33% gain. The Nasdaq Composite index is up about 11% over the same period.
On Oct. 30, Figma said it had acquired Weavy, a startup whose software enables people to compose images, videos and other creative assets with generative AI models.
Field told CNBC that he didn’t have information available yet on pricing for the Figma Weave capabilities resulting from the deal.
Figma still isn’t enforcing AI credit limits for its full subscription seats, nor is it charging for AI consumption add-ons, Praveer Melwani, the company’s finance chief, said on a conference call with analysts. He said he doesn’t expect consumption revenue to be material in 2025.
“We will continue investing heavily in AI and we will trade near-term margin to build the right long-term platform for our customers,” Field said on the conference call.
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