Figma (FIG) Q2 earnings report 2025

Figma shares plunged 14% in extended trading on Wednesday after the design software company reported results for the first time since its initial public offering in July.

Here’s how the company did in comparison with LSEG consensus:

• Earnings per share: Breakeven
• Revenue: $249.6 million vs. $248.8 million expected

Revenue increased 41% year over year in the second quarter from $177.2 million a year earlier, Figma said in a statement. The company provided a preliminary estimate of $247 million to $250 million in a July regulatory filing. CNBC isn’t including a profit estimate because it’s Figma’s first earnings report.

Net income totaled $846,000, compared with a loss of $827.9 million in the second quarter of 2024. The company’s adjusted operating income came to $11.5 million, after Figma provided a prior estimate of $9 million to $12 million.

For the third quarter, Figma forecast revenue of between $263 million and $265 million, which would represent about 33% growth at the middle of the range. The LSEG consensus was $256.8 million.

The company sees between $88 million and $98 million in adjusted operating income for the full year and a little more than $1.02 billion in revenue. The revenue range implies about 37% growth and is above the $1.01 billion LSEG consensus.

Last year, Figma picked up more revenue from customers as it sold them access to Dev Mode, which helps software developers to implement designs that designers create in the company’s software. That momentum is putting a damper on revenue growth for the third quarter, Figma co-founder and CEO Dylan Field said in an interview.

In the second quarter, Figma announced Figma Make, which uses artificial intelligence to compose app and website designs based on a user’s descriptions, and Figma Sites, which turns designs into working websites. The company also acquired vector graphics startup Modyfi and content management system startup Payload.

Figma has yet to start fully charging for artificial intelligence products, but says it has built the underlying costs into its model. The company is not providing a forecast for third-quarter adjusted operating income.

“We plan on letting customers know that they have the opportunity to purchase additional AI credits in the future,” Praveer Melwani, Figma’s finance chief, said on a conference call with analysts.

Several software vendors have faced pressure this year due to concerns surrounding AI and whether it will displace business. Field told CNBC that he’s not seeing that play out internally and that, if anything, the role of designers will only become more critical.

“I think that the more that software becomes easier to build with AI, the more that people are going to see that that human touch is needed,” Field said in the interview. He acknowledged Figma has been adopting so-called vibe-coding tools for AI-driven software development.

Figma reported a 129% net retention rate, a reflection of expansion with existing customers. The figure was down from 132%…