Figma Q3 2025 Earnings Report

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 (FIG), the collaborative design software powerhouse, delivered a robust Q3 performance, exceeding analyst expectations and sending its stock soaring in after-hours trading. The company’s financial results underscore the continued demand for its platform and its successful foray into generative AI-powered design tools.

Here’s a closer look at the key numbers:

• Earnings per share (Adjusted): 10 cents
• Revenue: $274.2 million vs. $265.2 million expected (LSEG consensus)

Figma’s Q3 revenue represents a significant 38% year-over-year increase, signaling strong growth momentum. This impressive figure highlights the increasing reliance on Figma’s platform by design teams across various industries.

While revenue figures impressed, the company reported a net loss of $1.10 billion, or $2.72 per share, a substantial increase from the $15.6 million loss in the same quarter last year. This loss, however, is primarily attributed to a significant rise in stock-based compensation expenses, a common occurrence for newly public companies.

Excluding these one-time factors, Figma reported an adjusted operating margin of 12%, comfortably exceeding the StreetAccount consensus of 6.5%. This strong operating margin indicates improving efficiency and profitability as the company scales its operations.

A key driver of Figma’s recent success is the adoption of its AI-powered design tool, Figma Make. According to CEO and co-founder Dylan Field, approximately 30% of Figma customers with over $100,000 in annualized revenue are actively using Figma Make on a weekly basis. This rapid adoption rate suggests that Figma’s investment in generative AI is resonating with its user base, unlocking new levels of creativity and efficiency.

“That continues to grow, and overall sort of across the business, Figma Make was a big driver of new customers in Q3,” Field stated in a recent interview.

Figma’s net dollar retention rate for clients spending at least $10,000 annually reached an impressive 131%, an increase from 129% in the previous quarter. This metric highlights Figma’s ability to retain and expand its existing customer base, a crucial indicator of long-term growth potential. A retention rate above 100% signifies that existing customers are increasing their spending on Figma’s platform.

Furthermore, Figma is successfully attracting larger enterprise clients. The company reported 1,262 organizations with over $100,000 in annualized spending as of the end of September, representing a 13% increase from the end of June. This growth in larger accounts indicates that Figma is increasingly being adopted as a mission-critical design platform within large organizations.

Looking ahead, Figma anticipates Q4 revenue to fall between $292 million and $294 million, exceeding the LSEG consensus estimate of $283 million. This guidance implies a 35% year-over-year growth rate, suggesting that Figma’s positive momentum is expected to continue.

Figma’s IPO in July, which raised $1.2 billion at a price of $33 per share, marked a significant milestone for the company. Since then, the stock has performed well, closing at $44.01 on Wednesday, representing a 33% gain compared to the IPO price. This outperformance relative to the Nasdaq Composite index, which is up approximately 11% over the same period, highlights the market’s confidence in Figma’s potential.

The recent acquisition of Weavy, a startup specializing in generative AI-powered creative asset creation, further strengthens Figma’s AI capabilities. While pricing details for the integrated Figma Weave functionalities are yet to be revealed, this acquisition demonstrates Figma’s commitment to staying at the forefront of AI-driven design innovation.

Currently, Figma is not enforcing AI credit limits for its full subscription seats and is not charging for AI consumption add-ons. Praveer Melwani, Figma’s finance chief, indicated that consumption revenue is not expected to be material in 2025, suggesting that the company is prioritizing adoption and experimentation with its AI features.

“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 emphasized during the conference call with analysts. This statement underscores Figma’s strategic focus on long-term growth over short-term profitability, a common approach for high-growth technology companies investing in emerging technologies like artificial intelligence.