TLDR
- Figma shares sank 15% after hours despite 48% second-quarter revenue growth.
- Q2 revenue reached $370.1 million as growth accelerated for a third quarter.
- AI credit monetization expanded, with major customers using credits weekly.
- Figma raised its 2026 revenue outlook by $40 million after the strong quarter.
- GAAP operating losses and higher spending weighed on the post-earnings reaction.
Figma shares plunged 15.31% after hours to $23.84, despite strong second-quarter revenue growth and higher full-year guidance. The stock had closed 3.80% higher at $28.15 before the earnings release triggered a sharp reversal. The decline followed mixed market reactions to growth, spending, and the company’s outlook.
Figma, Inc., FIG
Figma reported second-quarter revenue of $370.1 million, up 48% from the same period last year. Revenue also exceeded the company’s earlier guidance range and accelerated for a third consecutive quarter. However, the market focused on operating losses and higher spending tied to product expansion.
The company raised its full-year revenue forecast by $40 million after the stronger quarterly performance. It now expects annual revenue between $1.463 billion and $1.467 billion. That range implies 39% growth at the midpoint and reflects continued demand across its platform.
AI Credit Sales Support Customer Expansion
Figma completed its first full quarter of AI credit monetization during the reporting period. More than 80% of larger paid customers used AI credits weekly by June 30. Customers also expanded both seats and paid credit add-ons during the quarter.
Net Dollar Retention Rate reached 136%, showing strong spending growth among existing customers. Figma had 15,964 customers generating more than $10,000 in annual recurring revenue. That customer group grew 34% from the previous year.
Figma also reported 1,635 customers with annual recurring revenue above $100,000. This group expanded 46% year over year and strengthened the company’s enterprise position. The platform now combines collaborative design, coding, prototyping, and agent-based workflows.
Margins Remain Strong Despite Operating Loss
Figma generated GAAP gross profit of $309.6 million during the second quarter. Its GAAP gross margin reached 84%, while non-GAAP gross margin stood at 85%. Gross profit growth accelerated to 40% under both accounting measures.
Figma posted a GAAP operating loss of $117.3 million and a negative 32% operating margin. Higher sales and marketing costs from its Config conference weighed on quarterly profitability. Still, non-GAAP operating income reached $36.1 million with a 10% margin.
Operating cash flow reached $60.9 million, while free cash flow totaled $53.2 million and carried a 14% margin. Figma ended June with $1.7 billion in cash, equivalents, and marketable securities. Third-quarter revenue guidance spans $373 million to $375 million, with annual non-GAAP operating income at $125 million to $135 million.
Get 3 Free Stock Ebooks
Discover top-performing stocks in AI, Crypto, and Technology with expert analysis.
- Top 10 AI Stocks - Leading AI companies
- Top 10 Crypto Stocks - Blockchain leaders
- Top 10 Tech Stocks - Tech giants
