Figma reported strong Q4 2025 results with accelerated revenue growth driven by platform and AI adoption, alongside positive cash generation. The company is investing in AI and its platform while maintaining financial discipline for sustainable long-term growth.
Fourth quarter revenue of $303.8 million increased 40% year-over-year, accelerating from prior periods and exceeding guidance.
positiveNet Dollar Retention Rate rose to 136%, indicating strong customer expansion and platform adoption.
positiveNon-GAAP operating income was $44.0 million, with a non-GAAP operating margin of 14%.
positiveStrong cash generation with operating cash flow margin of 13% and Adjusted Free Cash Flow margin of 13% in Q4.
positiveFiscal year 2025 revenue grew 41% year-over-year to $1.056 billion.
positiveWeekly active users of Figma Make grew over 70% quarter-over-quarter, with significant adoption among high-ARR customers.
positiveGAAP loss from operations was $(195.5) million in Q4 2025, with a GAAP operating margin of (64)%.
negativeGAAP net loss was $(226.6) million in Q4 2025.
negativeGAAP loss from operations for fiscal year 2025 was $(1.3) billion, impacted by a one-time stock-based compensation expense of $975.7 million recognized in Q3.
negativeFull Year 2026 revenue guidance of $1.366 billion to $1.374 billion implies 30% year-over-year growth, a deceleration from the 41% growth in FY2025.
attentionNon-GAAP operating income for Full Year 2026 is projected between $100.0 million and $110.0 million, a decrease from $129.5 million in FY2025.
negativeThe company incurred a $24.5 million tax payment in connection with the acquisition of Weavy Inc.
attentionMargin expansion indicates improving profitability and operational efficiency. Measured in basis points (bps): 100 bps = 1.0%.
Forward-looking guidance is subject to change and does not constitute a guarantee. Actual results may differ materially from these estimates.
Special items are non-recurring events that may distort period-over-period comparisons. Analysts typically adjust for these when calculating normalized earnings.
2025 was a massive year for Figma, and the fourth quarter was our best quarter yet.
Our accelerated revenue and customer growth going into 2026 reflect design’s power and Figma’s essential place at the product development stack.
Q4 was our best quarter for net new revenue on record, as platform-led adoption across our customer base powered durable growth at scale.
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Operational metrics provide insight into business drivers and customer engagement beyond traditional financial measures.