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
Figma shares plunged 13% in extended trading on Wednesday after the design software company reported results for the first time since its IPO in July.
Here’s how the company did in comparison with LSEG consensus:
- Earnings per share: breakeven
- Revenue: $249.6 million vs. $248.8 million expected
Revenue increased 41% year over year in the second quarter from $177.2 million a year earlier, Figma said in a statement. The company provided a preliminary estimate of $247 million to $250 million in a July regulatory filing. CNBC isn’t including a profit estimate because it’s Figma’s first earnings report.
Net income totaled $846,000, compared with a loss of $827.9 million in the second quarter of 2024. The company’s adjusted operating income came to $11.5 million, after Figma provided a prior estimate of $9 million to $12 million.
For the third quarter, Figma forecast revenue of between $263 million and $265 million, which would represent about 33% growth at the middle of the range. The LSEG consensus was $256.8 million.
The company sees between $88 million and $98 million in adjusted operating income for the full year and a little over $1.02 billion in revenue. The revenue range implies about 37% growth and is above the $1.01 billion LSEG consensus.
Last year, Figma picked up more revenue from customers as it sold them access to Dev Mode, which helps software developers to implement designs that designers create in the company’s software. That momentum is putting a damper on revenue growth for the third quarter, Figma co-founder and CEO Dylan Field said in an interview.
In the second quarter, Figma announced Figma Make, which uses artificial intelligence to compose app and website designs based on a user’s descriptions, and Figma Sites, which turns designs into working websites. The company also acquired vector graphics startup Modyfi and content management system startup Payload.
Figma has yet to start fully charging for AI products, but says it has built the underlying costs into its model. The company is not providing a forecast for third-quarter adjusted operating income.
A number of software vendors have faced pressure this year due to concerns surrounding AI and whether it will displace business. Field said he’s not seeing that play out internally and that, if anything, the role of designers will only become more critical.
“I think that the more that software becomes easier to build with AI, the more that people are going to see that that human touch is needed,” Field said. He acknowledged that Figma has been adopting so-called vibe-coding tools for AI-driven software development.
Figma reported a 129% net retention rate, a reflection of expansion with existing customers. The figure was down from 132% in the first quarter.
Following its IPO, Figma expects a share sale lockup to expire for 25% some employees’ stock after market close on Sept. 4. Investors holding just over half of Figma’s outstanding Class A stock have agreed to an extended lock-up that will expire in August 2026 for about 35% of their shares.
Field said he wanted to provide clarity for investors.
“That’s something that I think is valuable information,” he said.
On Wednesday the company’s stock closed at $68.13. The company priced shares in its IPO at $33, and saw the stock pop to $115.50 in its debut.
Executives will discuss the second-quarter results with analysts on a conference call starting at 5 p.m. ET.
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