Figma Announces Third Quarter 2026 Financial Results
Figma, Inc. (FIG) filed an SEC Form 8-K — Results of Operations and Financial Condition. Figma Announces Third Quarter 2026 Financial Results Q3 revenue grew 43% year-over-year to $391.4 million, $16.4 million above the high-end of prior guidance. San Francisco , CA – November 4, 2026 – Figma, Inc. (NYSE:FIG) announced financial results today for its third quarter en
How this was made
The 30-second read
Why it matters
The earnings beat and raised guidance are likely to attract buying interest, though the GAAP operating loss may temper enthusiasm.
Market read
The strong revenue growth and raised guidance position Figma as a beneficiary of the broader AI‑driven design market.
What to watch
AI cost‑efficiency improvements could improve margins in future quarters
Q3 revenue grew 43% year-over-year to $391.4 million, $16.4 million above the high-end of prior guidance.
Revenue grew 43% year-over-year and exceeded the high end of prior guidance by $16.4 million, while the company generated non-GAAP operating income, positive operating cash flow and positive Free Cash Flow, and raised full-year revenue guidance by $33.0 million.
Key metrics
shortened, hover for the filing’s print| Metric | Value | q/q | y/y |
|---|---|---|---|
| Revenue, three months ended September 30GAAP | $391.4M | – | 43% |
| Revenue, nine months ended September 30GAAP | $1.09B | – | – |
| Cost of revenue, three months ended September 30GAAP | $76.97M | – | – |
| Cost of revenue, nine months ended September 30GAAP | $206.1M | – | – |
| Gross profit, three months ended September 30GAAP | $314.4M | – | 65% |
| Gross margin, three months ended September 30GAAP | 80% | – | – |
| Non-GAAP gross profit, three months ended September 30non-GAAP | $321.1M | – | 36% |
| Non-GAAP gross margin, three months ended September 30non-GAAP | 82% | – | – |
| Gross profit, nine months ended September 30GAAP | $888.8M | – | – |
| Gross margin, nine months ended September 30GAAP | 81% | – | – |
| Non-GAAP gross profit, nine months ended September 30non-GAAP | $909.7M | – | – |
| Non-GAAP gross margin, nine months ended September 30non-GAAP | 83% | – | – |
| Research and development expense, three months ended September 30GAAP | $205.2M | – | – |
| Non-GAAP research and development expense, three months ended September 30non-GAAP | $117.9M | – | – |
| Sales and marketing expense, three months ended September 30GAAP | $130.7M | – | – |
| Non-GAAP sales and marketing expense, three months ended September 30non-GAAP | $115.9M | – | – |
| General and administrative expense, three months ended September 30GAAP | $97.75M | – | – |
| Non-GAAP general and administrative expense, three months ended September 30non-GAAP | $40.34M | – | – |
| Total operating expenses, three months ended September 30GAAP | $433.6M | – | – |
| Loss from operations, three months ended September 30GAAP | −$119.2M | – | – |
| GAAP operating margin, three months ended September 30GAAP | (30)% | – | – |
| Non-GAAP operating income, three months ended September 30non-GAAP | $47M | – | – |
| Non-GAAP operating margin, three months ended September 30non-GAAP | 12% | – | – |
| Net loss, three months ended September 30GAAP | −$81.3M | – | – |
| Non-GAAP net income, three months ended September 30non-GAAP | $53.7M | – | – |
| Net loss per share, basic and diluted, three months ended September 30GAAP | $(0.15) | – | – |
| Non-GAAP net income per share, basic, three months ended September 30non-GAAP | $0.10 | – | – |
| Non-GAAP net income per share, diluted, three months ended September 30non-GAAP | $0.10 | – | – |
| Net cash provided by operating activities, three months ended September 30GAAP | $48.4M | – | – |
| Operating Cash Flow Margin, three months ended September 30other | 12% | – | – |
| Free Cash Flow, three months ended September 30non-GAAP | $41.5M | – | – |
| Free Cash Flow Margin, three months ended September 30non-GAAP | 11% | – | – |
| Net cash provided by operating activities, nine months ended September 30GAAP | $206.6M | – | – |
| Free Cash Flow, nine months ended September 30non-GAAP | $183.3M | – | – |
| Operating Cash Flow Margin, nine months ended September 30other | 19% | – | – |
| Free Cash Flow Margin, nine months ended September 30non-GAAP | 17% | – | – |
| Cash, cash equivalents, and marketable securities, as of September 30, 2026GAAP | $1.7B | – | – |
| Cash and cash equivalents, as of September 30, 2026GAAP | $508.0M | – | – |
| Marketable securities, as of September 30, 2026GAAP | $1.21B | – | – |
Amounts quoted below without a unit are in thousands, as in the filing’s tables. Per-share figures are as printed.
Fourth Quarter and Full Year 2026 outlook
- RevenueFourth Quarter 2026: between $402.0 million and $404.0 million; Full Year 2026: between $1.497 billion and $1.499 billion
- NoteFourth Quarter 2026 revenue: implying 33% year-over-year growth at the midpoint of the range.
- NoteFull Year 2026 revenue: implying 42% year-over-year growth at the midpoint of the range and a raise of $33.0 million to Figma’s previously issued guidance.
- NoteFull Year 2026 non-GAAP operating income: between $158.0 million and $163.0 million, representing a non-GAAP operating margin of 11% at the midpoint of the range.
What drove it
- Customers continued to expand seats and invest more deeply in Figma.
- Customers are moving from trying AI to making larger commitments, and the Figma agent is expanding how they use credits across the platform.
- Improvements in AI cost efficiency supported confidence to raise the full-year revenue and non-GAAP operating income outlook.
- Net Dollar Retention Rate was 131% as of September 30, 2026.
- Paid Customers with more than $10,000 in ARR totaled 16,566, an increase of more than 3,650 since September 30, 2025.
- Paid Customers with more than $100,000 in ARR totaled 1,717, an increase of more than 450 since September 30, 2025.
- From July 1 through October 31, 2026, weekly active users consuming credits among Paid Customers with more than $10,000 in ARR increased by almost 50%.
- As of October 31, 2026, on a weekly basis, 65% of Paid Customers with more than $10,000 in ARR were using the Figma agent and over 80% were consuming AI credits.
- Total MCP usage grew 3x quarter-over-quarter, and write-back usage grew 4x quarter-over-quarter.
- From July 1 through October 31, 2026, Figma more than doubled the share of work powered by its own post-trained design model.
Concerns
- GAAP loss from operations was $(119.2) million and GAAP operating margin was (30)% for the three months ended September 30, 2026.
- GAAP net loss was $(81.3) million for the three months ended September 30, 2026.
- GAAP gross margin was 80%, compared with 69% in the prior-year quarter, while non-GAAP gross margin was 82%, compared with 86%.
- Free Cash Flow was $41.5 million, compared with $49,047 (in thousands) in the prior-year quarter, and Free Cash Flow Margin was 11%, compared with 18%.
- The company continues to invest in its AI capabilities.
What to watch
- Fourth Quarter 2026 revenue guidance of between $402.0 million and $404.0 million.
- Full Year 2026 revenue guidance of between $1.497 billion and $1.499 billion and the stated $33.0 million raise to previously issued guidance.
- Full Year 2026 non-GAAP operating income guidance of between $158.0 million and $163.0 million and the 11% non-GAAP operating margin implied at the midpoint.
- Adoption of the Figma agent and AI credits among Paid Customers with more than $10,000 in ARR.
- MCP server usage and the impact of integrations with 20 partners launched in October 2026.
- The ongoing expansion of first-party and open-weight models in production and AI cost efficiency.
Balance sheet and cash flow
- Cash, cash equivalents, and marketable securities were $1.7 billion as of September 30, 2026.
- Cash and cash equivalents were $508,034 (in thousands) as of September 30, 2026, compared with $403,469 (in thousands) as of December 31, 2025.
- Marketable securities were $1,212,244 (in thousands) as of September 30, 2026, compared with $1,252,474 (in thousands) as of December 31, 2025.
- Net cash provided by operating activities was $48.4 million for the three months ended September 30, 2026 and $206,606 (in thousands) for the nine months ended September 30, 2026.
- Free Cash Flow was $41.5 million for the three months ended September 30, 2026 and $183,327 (in thousands) for the nine months ended September 30, 2026.
- Net cash provided by operating activities for the nine months ended September 30, 2026 includes the impact of a $56.1 million payment under Figma’s annual corporate bonus program, accrued during the year ended December 31, 2025, with no comparable payment in the prior year period.
Analysis
Figma reported a strong third quarter, with revenue of $391.4 million, up 43% year-over-year and $16.4 million above the high end of prior guidance. The result was supported by customer seat expansion and deeper investment in the platform. Net Dollar Retention Rate was 131%, while the population of Paid Customers with more than $10,000 in ARR reached 16,566 and the population above $100,000 in ARR reached 1,717.
Profitability was positive on a non-GAAP basis but remained negative under GAAP. GAAP gross profit was $314.4 million and GAAP gross margin was 80%, while non-GAAP gross profit was $321.1 million and non-GAAP gross margin was 82%. GAAP loss from operations was $(119.2) million, compared with non-GAAP operating income of $47.0 million and a 12% non-GAAP operating margin. GAAP net loss was $(81.3) million, whereas non-GAAP net income was $53.7 million.
Cash generation stayed positive but trailed the prior-year period. Net cash provided by operating activities was $48.4 million, with a 12% operating cash flow margin, and Free Cash Flow was $41.5 million, with an 11% Free Cash Flow Margin. The nine-month operating cash flow included a $56.1 million annual corporate bonus payment accrued during the year ended December 31, 2025, with no comparable payment in the prior-year period. Cash, cash equivalents, and marketable securities were $1.7 billion as of September 30, 2026.
AI usage indicators were a central operating driver. From July 1 through October 31, 2026, weekly active users consuming credits among Paid Customers with more than $10,000 in ARR increased by almost 50%. As of October 31, 2026, 65% of those customers were using the Figma agent and over 80% were consuming AI credits. Total MCP usage grew 3x quarter-over-quarter and write-back usage grew 4x quarter-over-quarter. Figma also more than doubled the share of work powered by its own post-trained design model during the stated July through October period.
The outlook calls for fourth-quarter revenue of between $402.0 million and $404.0 million, implying 33% year-over-year growth at the midpoint. Full-year revenue guidance is between $1.497 billion and $1.499 billion, a $33.0 million raise to previously issued guidance, and full-year non-GAAP operating income guidance is between $158.0 million and $163.0 million. The reported period therefore combines continued growth and expanding AI engagement with a stated commitment to continue investing in AI capabilities.
Management, verbatim
As code becomes a commodity, value is moving up the stack to design—and our Q3 results reflect that.
Dylan Field, CEO and co-founder
We're building the full-stack canvas for visual-first development: one that's built for collaboration, increasingly powered by our first-party model and native to the way teams design and build with AI.
Dylan Field, CEO and co-founder
We’re seeing customers move from trying AI to making larger commitments, and the Figma agent is expanding how they use credits across our platform.
Praveer Melwani, CFO
Not in the filing
stated, not guessed- Prior-quarter financial metrics were not provided for the reported income statement, cash flow, and margin line items.
- The filing provided no reportable segment revenue or segment profitability disclosure.
- No debt balance was reported in the condensed consolidated balance sheet.
- No share repurchases or dividend declarations were reported.
- No gross-margin, operating-expense, or tax-rate guidance was provided.
- The prior outlook section was not provided, so metric-by-metric comparison of reported results with prior guidance is unavailable.
- Year-over-year percentage changes were not printed for most income statement, cash flow, balance sheet, and per-share line items.
Written by an AI language model from the company’s SEC earnings filing (Form 8-K Item 2.02, or Form 6-K for a foreign private issuer). Every figure was checked against the filing text, and a metric whose value, prior period and change do not add up is dropped from the metrics. The model can still misread a table, in the metrics or in the text, so check a number in the filing before you rely on it. Consensus estimates, price targets and share-price reactions are not shown because they are not in the filing. AI-generated research, not investment advice.
Background
Figma's Q3 2026 earnings release filed via SEC Form 8‑K provides the first public disclosure of its quarterly results and outlook.
Ticker impact
Figma reported Q3 revenue of $391.4M, up 43% YoY, and raised full-year revenue guidance.
likely upward pressure as market prices in raised guidance
Revenue beat and raised guidance indicate growth momentum and expanding AI adoption.
Market effects
benefits design‑software and collaborative‑tool sector
supports U.S. technology market sentiment
reinforces demand for global design and AI‑augmented tools
Counterpoint
some investors may worry about the current GAAP operating loss despite revenue growth
Key entities
- companyFigma, Inc.
Design and collaboration platform that reported Q3 2026 results
