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FIG

Figma, Inc.

FIG

Figma, Inc. • NYSE
$35.99 ▼ -0.37% (-0.14)
Market Cap $17.55 B
52w High $142.92
52w Low $32.83
Dividend Yield 0%
P/E -11.14
Volume 2.87M
Outstanding Shares 487.46M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $274.173M ▲ $1.327B ▲ $-1.097B ▼ -400.118% ▼ $-2.227 ▼ $-1.103B ▼
Q2-2025 $249.64M ▲ $219.675M ▲ $846K ▼ 0.339% ▼ $0.002 ▲ $5.687M ▼
Q1-2025 $228.199M ▲ $168.998M ▲ $8.611M ▼ 3.773% ▼ $-2.05 ▼ $41.27M ▼
Q4-2024 $216.945M ▲ $148.813M ▼ $97.807M ▲ 45.084% ▲ $0.2 ▲ $90.797M ▲
Q3-2024 $198.639M $227.272M $-15.598M -7.852% $-0.032 $-29.426M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $1.608B ▼ $2.073B ▲ $684.705M ▲ $1.389B ▼
Q2-2025 $1.623B ▲ $2.035B ▲ $607.449M ▲ $1.427B ▲
Q1-2025 $1.542B ▲ $1.915B ▲ $544.391M ▲ $1.37B ▲
Q4-2024 $1.458B ▲ $1.793B ▲ $469.095M ▼ $1.324B ▲
Q4-2023 $1.419B $1.602B $558.767M $1.043B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-1.097B ▼ $51.163M ▼ $-260.873M ▼ $-71.453M ▼ $-247.388M ▼ $49.047M ▼
Q2-2025 $28.227M ▼ $62.455M ▼ $-74.826M ▼ $15.445M ▲ $3.074M ▼ $60.603M ▼
Q1-2025 $44.882M ▲ $97.177M ▲ $41.251M ▲ $339K ▼ $138.767M ▲ $94.582M ▲
Q2-2024 $-827.854M ▼ $-178.243M ▼ $-173.216M ▲ $21.86M ▲ $-329.599M ▲ $-179.894M ▼
Q1-2024 $13.525M $-18.139M $-336.63M $40K $-354.729M $-19.722M

Five-Year Company Overview

Income Statement

Income Statement Figma shows strong revenue growth with very healthy gross margins, which suggests the core product is valued and scalable. However, profitability has moved in the opposite direction: the company swung from a solid profit to a sizeable loss as it stepped up spending. This pattern usually reflects aggressive investment in growth, especially in sales, marketing, and product development. The main question is whether these higher operating costs will translate into durable, profitable expansion over time.

Balance Sheet

Balance Sheet The balance sheet looks relatively solid, with assets and shareholder equity growing and only modest use of debt. That said, cash levels have fallen sharply, which reduces the margin of safety if losses continue. The structure is still conservative, but the company is clearly drawing down cash to fund its strategy, so future funding needs and the pace of cash burn are important to watch.

Cash Flow

Cash Flow Figma went from very strong cash generation to slightly negative cash flow, both at the operating and free cash flow level. Capital spending remains light, so the deterioration is mostly about higher ongoing operating costs rather than big one-time investments. This shift is typical of a company leaning into growth, but it raises execution risk: the business will need to either restore cash profitability or accept continued reliance on the cash already on the balance sheet or potential future financing.

Competitive Edge

Competitive Edge Figma benefits from a strong competitive position built on collaboration, network effects, and a sticky workflow. Teams across design, engineering, and product use it together, which makes it harder for organizations to switch away. A large plugin ecosystem, deep integrations with popular work tools, and a very engaged community add further strength. However, the company operates in a crowded and fast-moving design and productivity market, facing both large incumbents and emerging AI-native rivals, so it must keep innovating to defend this position.

Innovation and R&D

Innovation and R&D Innovation is a clear centerpiece of Figma’s strategy. The company has moved from a single design tool to a broader platform that covers brainstorming, design, handoff to developers, and now AI-assisted creation. New AI features, deeper developer tools, and moves into areas like motion and video design through acquisitions show a willingness to invest heavily in new capabilities. This creates significant upside potential but also increases spending and execution complexity, as integrating these technologies and turning them into reliable, monetizable products is not guaranteed.

Summary

Overall, Figma appears to be a high-growth, product-led software company with strong user engagement and a meaningful competitive moat, now entering public markets while in an investment-heavy phase. Financially, it is trading near-term profitability and cash generation for faster expansion and a broader platform, which introduces higher risk if growth or adoption slows. The company’s future story hinges on its ability to convert its AI roadmap, ecosystem, and enterprise push into durable, profitable scale before its cash cushion becomes too thin.

NEWS

November 5, 2025 · 4:05 PM UTC

Figma Announces Third Quarter 2025 Financial Results

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October 15, 2025 · 4:15 PM UTC

Figma to Announce Third Quarter 2025 Financial Results on November 5, 2025

Read more

October 15, 2025 · 9:00 AM UTC

Stensul Unveils New Figma Plugin to Streamline Brand-Compliant Design for Enterprise Email Creation

Read more