Figma beat Wall Street's third-quarter estimates and raised its full-year forecast, yet its shares fell in extended trading. The finance chief says the company is potentially trading off near-term revenue by giving customers more AI credits at unchanged prices.
Figma shares tumbled 7% in extended trading after the company reported third-quarter results and guidance that surpassed Wall Street's predictions.
Adjusted earnings per share came in at 10 cents against 5 cents expected, and revenue reached $391.4 million against $375.8 million expected, according to LSEG consensus. Revenue grew about 43% year over year, while net loss narrowed to $81.3 million from a loss of $1.10 billion a year earlier.
Guidance rises, but growth is set to slow
The company's 12% adjusted operating margin beat the 6.1% consensus among analysts polled by StreetAccount. Executives also lifted the full-year forecast to an 11% operating margin, up from 9% as of August, and to $1.497 billion to $1.499 billion in revenue.
However, Figma sees fourth-quarter revenue growth slowing to about 33%. Analysts polled by LSEG had predicted 28% growth.
More AI credits at the same price
During the quarter, Figma started giving more AI credits to clients while maintaining prices. Finance chief Praveer Melwani told CNBC: "What that means is you’re potentially trading off near-term revenue, investing in your customers"
Figma said the number of weekly users at organizations spending over $10,000 who used AI credits rose almost 50% during the quarter, and the share of work its own AI model performs doubled.
Shares trail the S&P 500 in 2026
Figma shares have come down about 41% so far in 2026, while the S&P 500 has gained 12%. Earlier this year, investors became concerned that artificial intelligence models could pose a competitive risk to the company.
Source: CNBC
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