Figma (NYSE:FIG) Issues Quarterly Earnings Results

Figma (NYSE:FIG) issued its earnings results on Wednesday. The company reported $0.08 EPS for the quarter, topping the consensus estimate of ($0.20) by $0.28, FiscalAI reports. Figma had a negative return on equity of 84.34% and a negative net margin of 99.32%.The firm had revenue of $303.78 million during the quarter. The firm’s quarterly revenue was up 40.1% compared to the same quarter last year.

Here are the key takeaways from Figma’s conference call:

• Record Q4 and FY 2025 results — $304M revenue in Q4 (+40% YoY), $1.056B for the year (+41%), net dollar retention of 136% for >$10k ARR customers, and $1.7B in cash and equivalents.
• Strong product and AI momentum — expanded to eight products, launched 200+ features including AI-native capabilities, Figma Make WAUs grew >70% QoQ, and new integrations (Claude Code) plus the Weavy acquisition broaden creative and production workflows.
• 2026 guidance shows slower growth and margin compression — full‑year revenue guide of ~$1.366–1.374B (~30% growth midpoint) and non‑GAAP operating margin targeted near 8% at midpoint, reflecting accelerated AI and go‑to‑market investments.
• Shift to seat + AI credits monetization starting in March introduces a new consumption revenue stream that could boost upside but requires monitoring as usage patterns and predictability evolve.
• Near-term cost and dilution pressures — Q4 adjusted FCF hit by infrastructure investments, timing of vendor payments and a one‑time $25M IP transfer tax, plus elevated 2025 stock‑based compensation that could dilute results (management calls much of it one‑time).

Figma Stock Up 1.3%

Shares of Figma stock traded up $0.32 during trading on Thursday, reaching $24.51. The company’s stock had a trading volume of 19,653,653 shares, compared to its average volume of 11,462,924. The business’s 50-day moving average price is $31.38 and its 200-day moving average price is $47.25. Figma has a 52 week low of $19.85 and a 52 week high of $142.92. The firm has a market cap of $10.19 billion and a PE ratio of -9.15.

Key Figma News

Here are the key news stories impacting Figma this week:

• Positive Sentiment: Q4 beat and raised guidance — Figma reported $0.08 EPS (vs. consensus -$0.20) and $303.8M revenue (up 40% YoY), then guided FY‑2026 revenue above Street expectations (~$1.366–1.374B). This beat-and-raise is the primary driver of the rally. Reuters: Figma forecasts annual revenue above estimates
• Positive Sentiment: AI monetization: management will start enforcing monthly AI credit limits and roll out pay-as-you-go pricing for heavy AI users in March — a consumption-based revenue stream that can lift revenue per customer as AI usage scales. Yahoo Finance: Valuation check and AI usage-based pricing
• Positive Sentiment: Anthropic partnership & product adoption — the “Code to Canvas” integration with Anthropic (Claude) and strong uptake of Figma Make broaden the user base beyond designers, embedding Figma into developer workflows and increasing stickiness. Market stats cited include net dollar retention of ~136% and faster non-designer adoption. MarketBeat: Anthropic integration could flip SaaSpocalypse script
• Positive Sentiment: Healthy cash and improving profitability signals — management highlighted a strong cash balance (~$1.7B), adjusted free cash flow generation and a positive non‑GAAP operating margin, supporting runway for execution and optionality. Diginomica: Figma crosses $1B in revenue
• Neutral Sentiment: Analyst re-ratings and coverage — Piper Sandler reaffirmed an “overweight” and set a $35 PT, which can support upward momentum but is not a fundamental change. Benzinga: Piper Sandler rating
• Neutral Sentiment: Management communication — CEO interviews and the earnings call stressed the AI roadmap and product strategy; useful for conviction but subject to execution risk. YouTube: CEO Dylan Field on Q4 results
• Negative Sentiment: Insider selling and prior valuation haircut — January lock‑up expirations and heavy insider sales earlier in 2026 contributed to the stock’s depressed level versus IPO and 52‑week highs, adding selling pressure and volatility. MarketBeat: Insider selling noted
• Negative Sentiment: Still unprofitable on GAAP metrics and execution risks — Figma reported a large negative net margin and negative ROE; continued profitability improvement and successful commercialization of AI consumption will be required to justify higher multiples. MarketBeat: Q4 results and metrics
• Negative Sentiment: Third‑party AI risks — some investors flagged concerns about deeper integrations with large AI models (security/data risks, vendor concentration), which could temper enthusiasm if issues arise. MSN: Investor concerns over AI integrations

Insider Buying and Selling

In related news, CAO Tyler Herb sold 2,232 shares of the business’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $24.86, for a total value of $55,487.52. Following the completion of the transaction, the chief accounting officer owned 195,926 shares of the company’s stock, valued at $4,870,720.36. The trade was a 1.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Brendan Mulligan sold 5,227 shares of Figma stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $25.00, for a total value of $130,675.00. Following the completion of the transaction, the general counsel owned 850,489 shares in the company, valued at approximately $21,262,225. This represents a 0.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 1,781,925 shares of company stock valued at $59,260,303 in the last quarter. Corporate insiders own 45.20% of the company’s stock.

Institutional Trading of Figma

Several institutional investors and hedge funds have recently modified their holdings of the stock. SC US Ttgp LTD. purchased a new stake in shares of Figma during the 3rd quarter worth approximately $1,310,305,000. ICONIQ Capital LLC purchased a new stake in shares of Figma during the 3rd quarter valued at $1,108,879,000. a16z Capital Management L.L.C. purchased a new position in Figma in the third quarter worth $842,687,000. Viking Global Investors LP bought a new position in Figma in the fourth quarter valued at $214,967,000. Finally, Durable Capital Partners LP purchased a new stake in Figma during the third quarter valued at about $278,510,000.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. JPMorgan Chase & Co. decreased their price target on shares of Figma from $65.00 to $60.00 and set a “neutral” rating on the stock in a research note on Thursday, November 6th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Figma in a report on Monday, December 29th. Barclays upgraded Figma to a “neutral” rating in a report on Thursday, January 8th. Wall Street Zen upgraded shares of Figma from a “sell” rating to a “hold” rating in a report on Sunday, February 8th. Finally, Royal Bank Of Canada reissued a “sector perform” rating on shares of Figma in a report on Thursday. Four analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $44.63.

About Figma

Figma is a San Francisco–based software company that offers a web-based platform for interface design, prototyping and collaboration. Its flagship product, Figma, enables teams to create and refine user interfaces, vector graphics and design systems directly in a browser, eliminating the need for local installations. The platform’s real-time collaboration features allow multiple stakeholders—designers, developers and product managers—to edit and comment simultaneously, streamlining workflows and reducing version control issues.

In addition to its core design tool, Figma provides FigJam, a digital whiteboarding solution that facilitates brainstorming sessions, wireframing and diagramming.