Figma

Figma (FIG) shares jumped 7% after OpenAI’s DevDay, where Sam Altman showcased its ChatGPT integration. This integration, enabled by OpenAI’s Apps SDK, allows ChatGPT users to leverage Figma for diagram creation and design workflows. Figma’s proactive AI assistance within ChatGPT streamlines user experience, potentially transforming product development. The stock surge, the largest since Figma’s July IPO, reflects investor optimism in AI-driven integrations and Figma’s commitment to AI-powered design tools. OpenAI plans to monetize these integrations, fostering a sustainable AI ecosystem.

Figma’s stock plummeted nearly 20% after its first earnings report as a public company, despite revenue of $249.6 million, a 41% year-over-year increase. Analysts noted the report as a “non-event,” highlighting the stock’s volatility since its IPO. Figma’s value has dropped over 50% from its initial trading day, with a market cap now around $27 billion. Q3 revenue is projected at $263-$265 million, a 33% growth. The company’s net retention rate decreased slightly from 132% to 129%, requiring a clear strategy for sustained growth.

Figma (FIG) shares fell 14% after hours following its first earnings report as a public company. While revenue beat expectations at $249.6 million (up 41% YoY), the report presented a mixed picture. Q3 revenue is projected at $263-$265 million, surpassing estimates. Full-year adjusted operating income is forecasted between $88-$98 million, with revenue exceeding $1.02 billion. Figma is innovating with AI-powered tools and strategic acquisitions. Concerns about AI displacing designers were addressed, with the CEO emphasizing AI’s role in augmenting design. The company reported a 129% net retention rate.