$FIG · Figma, Inc.
Figma filed its Q3 FY2026 10-Q. Revenue grew 42.8% YoY to $391.4M (nine months: $1.09B vs $752.0M). Net loss narrowed sharply to $81.3M from $1.10B a year ago, driven by a collapse in stock-based compensation to $158.6M from $1.14B. Gross margin was 80.3%, and operating margin was -30.4%. Loss per share was $0.15 vs $2.72 a year earlier.
- Revenue $391.4M, up 42.8% YoY from $274.2M.
- Net loss narrowed to $81.3M from $1.10B a year earlier.
- Stock-based compensation fell to $158.6M from $1.14B YoY.
- Gross margin 80.3%; operating margin -30.4%.
- Cash and marketable securities total $1.72B; deferred revenue $626.6M.
Extended-hours last trade $20.94, down 5.37% vs the $22.13 regular close, despite the strong revenue growth and narrowed loss.
Figma's first full-year post-IPO comparison shows revenue growth accelerating while losses collapse as one-time stock comp fades.
Figma's 42.8% growth and 80%+ gross margin reflect strong demand for collaborative design software, though heavy R&D spend keeps it unprofitable.
Filing flags AI agents circumventing pricing, intense competition, and reliance on Dylan Field's concentrated voting control via multi-class stock.