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Financial Results Q2 2025 September 3, 2025
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This presentation contains “forward-looking statements” within the meaning of applicable securities laws. All statements other than statements of historical fact could be deemed to be forward-looking, including, but not limited to, statements regarding our guidance and future financial performance, market demand, product development, growth prospects, business strategies and plans, ability to attract and retain customers and ability to compete effectively, as well as any assumptions relating to the foregoing. The words “believe, ” “may, ” “will, ” “potentially, ” “estimate, ” “continue, ” “anticipate, ” “intend, ” “could, ” “would, ” “project, ” “target, ” “plan, ” “expect, ” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These forward-looking statements are made as of the date they were first issued and are based on information available to us together with our expectations, estimates, forecasts, projections, beliefs, and assumptions as of such date. Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond our control. Our actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors. Further information on potential risks that could affect actual results is included in our most recent filings with the Securities and Exchange Commission (the “SEC”), including in our Quarterly Report on Form 10-Q filed or to be filed with SEC for the quarter ended June 30, 2025, copies of which may be obtained by visiting our Investor Relations website at https:/ /investor.figma.com or the SEC’s website at www.sec.gov. Past performance is not necessarily indicative of future results. We undertake no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law. Forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date of this presentation. This presentation includes certain financial measures not presented in accordance with U.S. generally accepted accounting principles (“GAAP”), including non-GAAP operating income, non-GAAP operating margin, Adjusted Free Cash Flow Margin, and non-GAAP gross margin. Such non-GAAP measures are used by our management in making operating decisions, allocating financial resources, and for internal planning, forecasting, and business strategy purposes. The non-GAAP measures included in this presentation have certain limitations, and should not be construed as alternatives to financial measures determined in accordance with GAAP . The non-GAAP measures as defined by us may not be comparable to similar non-GAAP measures presented by other companies. Please refer to the Appendix for a reconciliation of each non-GAAP financial measure presented herein to the most directly comparable financial measure stated in accordance with GAAP . We have not reconciled our outlook as to non-GAAP operating income to its most directly comparable GAAP measure because certain items that impact non-GAAP operating income are out of our control or cannot be reasonably predicted. Accordingly, a reconciliation for forward-looking non-GAAP operating income is not available without unreasonable effort. All third-party trademarks in this presentation are the property of their respective owners and are used for reference purposes only. Q2 2025Safe Harbor Disclaimer
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Dylan Field CEO + Co-Founder Q2 2025
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$250MQ2 Revenue 41%Y o Y Revenue Growth $11.5MNon-GAAP Operating Income 5%Non-GAAP Operating Margin 24%Adjusted Free Cash Flow Margin Q2 2025 q2 highlights Non-GAAP operating income, non-GAAP operating margin, and Adjusted Free Cash Flow Margin are non-GAAP financial measures. Please see the reconciliation from GAAP to non-GAAP measures contained in the appendix to this presentation.
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Source: International Data Corporation (“IDC”). Note: Per IDC, apps are defined here as logical applications which include solutions that are entirely made up of brand-new software but also solutions that leverage existing installed applications as providers of data, decision-making logic, and other services. As software continues to grow exponentially, design and brand will matter more than ever 1B+new apps by 2028 Q2 2025
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Investment philosophy Q2 2025
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Investing in AI Long-term focus Willing to take big swings Q2 2025our future — investment philosophy
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Q2 2025Our platform
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DESIGN CONTEXT FIGMA Desig ner Code editor code base DEV MODE MCP (WITH CODE CONNECT) AGENT PROMPT Developer DEV MODE
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Q2 2025 Publish SharePreview Code Media Player Explorations Create this music player, and have the disc spin with every new track to bring it to life. Here’s how I’m thinking about it: Reasoning I'll create a music player that shows a rotating CD when music is playing: Create a Music Player component that uses the design from the provided Figma import Implement play/pause toggle functionality Add animation to make the CD rotate when "playing" Use the provided design assets including the disc image and all interface elements Currently playing song information display I've created a music player with a rotating CD when music is "playing". The application includes the CD visualizer on the left side with play/pause functionality, and a track list on the right that allows you to select different tracks. I’ll make the images into a functioning carousel, the middle card will stay flat and we’ll add a 3d transform to give the other cards 3D appearance. 3D Card Carousel Dreamy Haze by Svelte 0:30/2:22 SOUND Time BPM BR Fading Echo 00:10 70 240 Dreamy Haze 01:03 60 240 L o s t in W ave s 00:30 1 8 0 240 W hi sp er s So f t 00: 55 200 240 C lo u ded S k ie s 00:20 8 0 240 V elvet D usk 00:1 5 9 0 240 L ightSho w 00:4 5 120 240 Ethereal G lo w 0 5 :10 8 0 240 Fleeting Time 00:40 200 240 Echoe s Fade 00: 5 6 40 240 Turns written descriptions or existing designs into working prototypes or apps with AI. Our products
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Q2 2025
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Q2 2025 Made to optimize for visual design and freeform creation with enhanced vector editing and illustration tools that helps products stand out. Our products
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Erica Leong, Visual Product Designer & Illustrator Erica Leong, Visual Product Designer & Illustrator Inga Hampton, Brand & Product Designer at Raycast Bruno Figueiredo, Lead Designer at OutSystems Lydia Bazan, Digital Designer at T -Mobile Sanghyo Y ee, Senior Product Designer at Lottie Files Vijay Verma, Designer Camilo Bejarano, Art Director & Partner at TheLittleLabs Rogie King, Designer Advocate at Figma Leandro Castelao, Design Manager at Figma Linda Ojo T aiwo, Icon Designer at Eaxum T ammy T aabassum, Product Designer at Figma
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Q2 2025 “Figma Draw gives me even more tools to add to my toolkit, expanding the possibilities of what I can create in a way that's easy to use. ” Erica Leong Visual designer and illustrator
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Q2 2025 Design, prototype, and publish dynamic websites that can be customized using code and AI. Our products
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Q2 2025 Create visual assets at scale without compromising brand consistency with built-in AI. Our products
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Q2 2025 Dev Mode MCP Server Connect design context in Figma to AI coding tools. Our products https://www.figma.com/design/W … https://www.figma.com/design/WalQlpRi78sE6n9ovw92r/2025---MusicPlayer?node-id=773- 9746&t=iOFuluyzz1Ra9uZF-4 Stop ⇧⌘⌫ I can see this is a music player interface designed in Figma. I’ll create a functional music player that matches this design with a spinning disc animation and working controls. Let me break this down into a React component with proper state management and animations. < > /* Spinning Disc */ < > < /div div div { , } { } ? : } ? : className className style = = = background: animationDuration: animationIterationCount: "relative w-[235px] h-[235px] mb-4" `w-full h-full rounded-full relative transition-transform duration-1000 'animate-spin' '' ` 'conic-gradient(from 0deg, #f97316, #ef4444, #8b5cf6, #3b82f6, #10b981 '3s' '0s' 'infinite' { } { } isPlaying isPlaying MusicPlayer. j s x Plan , search , build anything @ Add Context
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Q2 2025 “Figma’s MCP server has improved the efficiency of our engineering processes while ensuring correct implementation of our design system, improving consistency and quality for our end users. ” Dom Flask Senior Manager, UI Systems Design Coinbase
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9:41 프로필 수정 다시 오신 것을 환영해요, 줄리아님 32 현재 프로젝트 521 검토 중 681 총 제출 수 43 공동작업자 프로젝트 요약: 2022년 12월 10일부터 업적 모두 보기 최근 배지 우주 탐험가 2025년 9월 22일 획득 프로젝트 리더 2025년 9월 22일 획득 20 20 25 25 조직자 2025년 9월 22일 획득 당신의 제출물 업데이트: 2025년 8월 20일 9:41 줄리아 시몬스 뉴욕, NY , 미국 2022년 10월 12일부터 회원 팔로우 메시지 줄리아 소개 관심사: 생물학 생태학 천문학 현재: 대학원생 죄책감의 즐거움: 스타듀 밸리 플레이하기 개인 모토: “항상 호기심을 가져라.” 총 기여 수: 432 현재 직업 대학원생 내 꿈의 발견: 새 로 운 곰팡 이 종 발견 소 개 나는 과 학 과 일상 생 활 의 간극 을 메우 는 데 열 정을 가 지 고 있습니 다 . 센 트 럴 파크에서 조 류 관찰 기 록 을 하 고 , 공기 질 동 향 을 분석 하 며 , 도 시 야 생동물 과 기 후 패 턴에 대 한 지 역 사 회 주 도 의 연구에 기 여 하 는 데 시 간 을 보 냅니 다 . 현 장에 나 가지 않 을 때는 과 학 모 임 을 주 최하 고 환 경 연구에서 데이터 투명성 을 옹 호하 는 것을 좋 아 합니 다 . 업 적 20 20 25 25 현재 프로젝트 모 바 일 / 탐 색 모 바 일 / 프로필 모바일 업데이트 Research Lab 파일 에셋 페이지 개요 반복 복사 디자인 비평 피드백 아카이브 레이어 모바일 / 탐색 내비게 이 션 환영합니다 프로필 팔로우 행 프로필 타일 프로필 타일 Design Prototype 100% A Share Frame Position X 0 Y 0 0 Layout W 200 H 200 Clip content App earan c e 1 00 % 0 Fi ll CB9FD2 100 % S tro k e Eff e c ts Layout gri d Exp ort J oon S iu 모바일 업데이트 9:41 Editar perfil Olá de novo , Julia 32 Projetos atuais 521 Em revisão 681 Total de envios 43 Colaboradores Resumos dos Projetos :Desde 10 de Dezembro de 2022 Conquistas Ver Todos Insígnias Recentes Explorador Espacial Conquistada em 22 / 09 / 25 Líder de Projeto Conquistada em 22 / 09 / 25 20 20 25 25 Organizador Conquistada em 22 / 09 / 25 S uas S u bm iss õ es atua l izado : 20 de A gosto de 2025 9:41 Julia S i mm ons N o v a Y or k , NY , E UA M e mb ro desde 12 de o u t ub ro de 2022 S e g uir M ensa g em S o br e Julia Interesses : Biolo gia Ecolo gia Astrono mia Atualmente :Estudante de P ó s -G radua ç ão Prazer culposo :J o g ando S tarde w Valle y Mote pessoal : “ M anten h a - se c urioso , sempre .” Contribuições Totais :432 Emprego Atual Estudante de P ó s -G radua ç ão Min h a d escoberta d os son h os :U ma nova esp é c ie de fun g o S obre S o u apaixonada por conectar a ci ê ncia co m a v ida cotidiana . Passo m e u te m po registrando a v ista m entos de p á ssaros no C entral Par k , analisando tend ê ncias de q u alidade do ar e contri bu indo para pes q u isas co mu nit á rias so b re v ida sel v age m u r b ana e padr õ es cli m á ticos . Q u ando n ã o esto u e m ca m po , adoro organizar encontros cientí fi cos e de f ender a transpar ê ncia de dados e m pes q u isas a mb ientais . Con q uistas 20 20 25 25 Mó vel / E x plorar Mó vel / Perfil Pa l i O l á! B om d ia ! A tua l i z a çõ es m óv eis Research Lab A r q ui v o Rec u rsos P á ginas V is ã o gera l V ers õ es d o te x to F ee d bac k sobre o d esi g n Ar qu i v os C ama d as Móv el / Ex plorar Navegação B em-vindo P e rf i l Se gu ir Linha T ile d e per f il T ile d e per f il Design Prototype 100% A Share Frame Position X 0 Y 0 0 L a y o u t W 200 H 200 Clip content App earan c e 1 00 % 0 F i l l CB9FD2 100 % S tro k e E f f e c t s Layout gri d E x p o r t I nes M artim A tua l i z a çõ es m óv eis
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Thank you Q2 2025
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Praveer Melwani CFO Q2 2025
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Growth philosophy Q2 2025
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Sites BuzzAvailable in Beta MakeAvailable in Beta on Full seats DrawAvailable on Full seats
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$250MRevenue 41%Y ear-over-year Growth Q2 2025 Q1 23 $109.5M Q2 23 $118.7M Q3 23 $132.2M Q4 23 $144.4M Q1 24 $156.2M Q2 24 $177 .2M Q3 24 $198.6M Q4 24 $216.9M Q1 25 $228.2M Q2 25 $249.6M REVENUE
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Q2 2025Our platform
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Q2 2025
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129%Net-Dollar Retention (For our Paid Customers with more than $10,000 dollars in ARR) Q2 2025 Q1 23 159% Q2 23 143% Q3 23 131% Q4 23 122% Q1 24 125% Q2 24 130% Q3 24 131% Q4 24 134% Q1 25 132% Q2 25 129% net-dollar retention Refer to the appendix to this presentation for definitions of NDR and Paid Customers with more than $10,000 dollars in ARR.
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11,906Paid Customers with more than $10,000 dollars in ARR Q2 2025 Q1 23 5,945 Q2 23 6,365 Q3 23 6,727 Q4 23 7 ,233 Q1 24 8,007 Q2 24 9,071 Q3 24 9,762 Q4 24 10,517 Q1 25 11,107 Q2 25 11,906 1,119Paid Customers with more than $100,000 dollars in ARR Q1 23 456 Q2 23 501 Q3 23 558 Q4 23 630 Q1 24 701 Q2 24 787 Q3 24 876 Q4 24 963 Q1 25 1,031 Q2 25 1,119 Paid Customers Refer to the appendix to this presentation for definitions of Paid Customers with more than $10,000 dollars in ARR and Paid Customers with more than $100,000 dollars in ARR.
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Q2 2025NON-GAAP Gross margin Q1 23 92% Q2 23 91% Q3 23 91% Q4 23 91% Q1 24 92% Q2 24 92% Q3 24 92% Q4 24 92% Q1 25 92% Q2 25 90% Non-GAAP gross margin is a non-GAAP financial measure. Please see the reconciliation from GAAP to non-GAAP measures contained in the appendix to this presentation. 90%Non-GAAP Gross Margin
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Q1 24 12% Q2 24 3% Q3 24 24% Q4 24 26% Q1 25 18% Q2 25 5% Q2 2025NON-GAAP operating margin 5%Non-GAAP operating margin as % of revenue Non-GAAP operating margin is a non-GAAP financial measure. Please see the reconciliation from GAAP to non-GAAP measures contained in the appendix to this presentation.
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24%Adjusted Free Cash Flow Margin $1.6BCash and cash equivalents and marketable securities as of June 30, 2025 Q2 2025 Q1 23 14% Q2 23 7% Q3 23 25% Q4 23 25% Q1 24 31% Q2 24 4% Q3 24 31% Q4 24 30% Q1 25 41% Q2 25 24% cash position and Adjusted Free Cash Flow Margin Adjusted Free Cash Flow Margin is a non-GAAP financial measure. Please see the reconciliation from GAAP to non-GAAP measures contained in the appendix to this presentation.
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Lock-up release Q2 2025
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Q2 2025GUIDANCE Revenue (Q3) $263–265M Revenue (FY) $1,021–1,025M Non-GAAP Operating Margin (FY) $88–98M
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Q2 2025 Q&A
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Appendix Q2 2025
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DEFINITIONS Annual Recurring Revenue (“ARR”): We calculate ARR as the annualized value of our active customer agreements as of the measurement date, assuming any agreement that expires during the next twelve months following the measurement date is renewed on existing terms. A customer agreement is considered active when seats are provisioned to the customer at the start of their subscription. In cases where contracts are signed but not provisioned prior to the measurement date, the customer agreement is counted as active if provisioning takes place no more than 15 days after the measurement date. Paid Customer: We define a Paid Customer as a customer account that is billed separately for which we have an active paid subscription as of the last day of the applicable period of measurement. A single organization with multiple divisions, segments, subsidiaries, or subscribing teams that are each billed separately are counted as multiple Paid Customers. A customer account is considered active when seats are provisioned to the customer at the start of their subscription. In cases where contracts are signed but not provisioned as of the last date of the applicable period of measurement, the customer account is counted as active if provisioning takes place no more than 15 days after the last day of the applicable period of measurement. Paid Customer with more than $10,000 in ARR: A Paid Customer with a total of $10,000 or more of ARR as of the last day of the applicable period of measurement. Paid Customer with more than $100,000 in ARR: A Paid Customer with a total of $100,000 or more of ARR as of the last day of the applicable period of measurement. Net Dollar Retention Rate (“NDR”): We calculate as of the applicable period of measurement by starting with the ARR of Paid Customers with more than $10,000 in ARR as of twelve months prior to such date of measurement (“Prior Period ARR”). We then calculate the ARR for those same customers as of the applicable period of measurement (“Current Period ARR”). We then divide Current Period ARR by Prior Period ARR to calculate our NDR for the applicable date of measurement. Our NDR reflects customer expansion, contraction, and customer churn. We calculate NDR using ARR from Paid Customers with more than $10,000 in ARR because we believe that $10,000 in ARR is an important threshold, as it is a strong indicator of significant paid usage of our products. Q2 2025
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Reconciliation of NON-GAAP gross profit and gross margin Q2 2025 (In thousands) Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 GAAP gross profit $100,419 $108,481 $120,329 $131,145 $143,439 $137 ,640 $179,936 $200,482 $208,747 $221,751 Plus: Stock-based compensation expense 12 9 9 7 1 24,858 3,034 — — 218 Plus: Amortization of stock-based compensation included in capitalized internal use software development costs 6 7 7 8 7 9 88 82 86 188 Plus: Transaction costs and other related expenses associated with the Abandoned Merger with Adobe — — — 16 — — — — — — Plus: Employer payroll taxes related to the May 2024 RSU Release and 2024 Tender Offer — — — — — 672 24 — — — Plus: Amortization of acquired intangibles from acquisitions — — — — — — — — — 1,797 Non-GAAP gross profit $100,437 $108,497 $120,345 $131,176 $143,447 $163,179 $183,082 $200,564 $208,833 $223,954 GAAP gross margin 92 % 91 % 91 % 91 % 92 % 78 % 91 % 92 % 91 % 89 % N on-GAAP gross margin 92 % 91 % 91 % 91 % 92 % 92 % 92 % 92 % 92 % 90 % Abandoned Merger with Adobe, May 2024 RSU Release, and 2024 Tender Offer are defined in our Quarterly Report on Form 10 - Q for the quarter ended June 30, 2025, filed or to be filed with the SEC on September 3, 2025.
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Reconciliation of Non-GAAP operating income and operating margin Q2 2025 (In thousands) Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 GAAP operating income (loss) $12,521 $(894,287) $(47 ,336) $51,669 $39,749 $2,076 Plus: Stock-based compensation expense 607 858,390 88,403 153 197 7 ,310 Plus: Amortization of stock-based compensation included in capitalized internal use software development costs 7 9 88 82 86 188 Plus: Transaction costs and other related expenses associated with the Abandoned Merger with Adobe 4,781 4,401 4,408 4,474 — — Plus: Employer payroll taxes related to the May 2024 RSU Release and 2024 Tender Offer — 25,655 1,744 — — — Plus: Amortization of acquired intangibles from acquisitions — — — — — 1,898 Plus: Tender offer transaction costs 151 10,712 553 33 — — N on - GAAP operating income $18, 0 67 $4,88 0 $47 ,86 0 $56,411 $4 0 , 0 32 $11,472 G AAP operating margin 8 % ( 505 )% ( 24 )% 24 % 17 % 1 % N on- G AAP operating margin 12 % 3 % 24 % 26 % 18 % 5 % Abandoned Merger with Adobe, May 2024 RSU Release, and 2024 Tender Offer are defined in our Quarterly Report on Form 10 - Q for the quarter ended June 30, 2025, filed or to be filed with the SEC on September 3, 2025.
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Q2 2025 (In thousands) Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Net cash provided by (used in) operating activities $9,273 $(5,899) $25,774 $1,018,186 $(18,139) $(178,243) $61,574 $73,091 $97 ,177 $62,455 Less: Capital expenditures (257) (1,402) (1,604) (474) (503) (399) (413) (662) (874) (1,134) Less: Capitalized internal use software development costs (648) (748) (375) (859) (1,008) (1,170) (742) (1,604) (1,721) (718) Free Cash Flow $8,368 $(8,049) $23,795 $1,016,853 $(19,650) $(179,812) $60,419 $70,825 $94,582 $60,603 Less: Termination fee received from the Abandoned Merger with Adobe — — — (1,000,000) — — — — — — Plus: Transaction costs and other related expenses associated with the Abandoned Merger with Adobe 6,439 16,073 8,920 19,410 68,122 322 34 14 — — Plus: E stimated income taxes related to the Abandoned Merger with Adobe — — — — — 185,617 518 (5,148) — — A d j usted F ree C ash Fl o w $14,807 $8,024 $32,715 $36,263 $48,472 $6,127 $60,971 $65,691 $94,582 $60,603 N et cash provided b y (used in) investing activities (53,706) 3,015 (1,124) (5,521) (336,630) (173,216) (210,946) (63,465) 41,251 (74,826) N et cash provided b y (used in) financing activities — (2) 1 1 40 21,860 (20,660) 61,210 339 15,445 O perating Cash F low Margin 9 % (5) % 20 % 705 % (12) % (101) % 31 % 34 % 43 % 25 % Ad j usted F ree Cash F low Margin 14 % 7 % 25 % 25 % 31 % 4 % 31 % 30 % 41 % 24 % Adjusted Free Cash FloW Abandoned Merger with Adobe is defined in our Quarterly Report on Form 10-Q for the quarter ended June 30, 2025, filed or to be filed with the SEC on September 3, 2025.