In Q3, Figma's revenue reached $274.2m, up 38% and above the expected $265.2m. Adjusted earnings reached 10 cents per share, while its net accounting loss rose to $1.10bn ($2.72 per share), due to post-IPO stock-based compensation. The adjusted operating margin was 12%, compared to a consensus of 6.5% according to StreetAccount. For Q4, Figma is targeting $292m to $294m in revenue, representing expected growth of 35%, above the $283m forecast.
AI is driving demand via Figma Make, which generates mockups from text instructions and serves as an acquisition lever. About 30% of customers generating more than $100,000 annually use it weekly, Dylan Field said. The net retention rate for customers spending at least $10,000 rose to 131%, up from 129% in the previous quarter. The number of organizations spending more than $100,000 reached 1,262, up 13% since the end of June.
The stock rose just over 6% in after-hours trading on Wednesday.
