Figma shares slip as revenue jumps and AI push fuels long‑term plan

What Happened

Figma shares fell 7% in extended trading after the design‑software firm posted third‑quarter results that beat Wall Street forecasts. Revenue rose about 43% year over year, while the net loss narrowed sharply to $81.3 million, or 15 cents per share, from a $1.10 billion loss a year earlier. Adjusted operating margin hit 12%, well above the 6.1% expected by analysts.

Guidance and Outlook

The company lifted its full‑year outlook, now expecting revenue of $1.497 billion to $1.499 billion and an operating margin of 11%, up from the 9% forecast in August. Analysts had been looking for $1.471 billion in 2026 revenue. For the fourth quarter, Figma projects revenue growth of about 33%, versus the 28% consensus.

AI Strategy

Figma said it is giving more AI credits to customers while keeping prices unchanged, aiming to turn AI use into a long‑term growth engine. Weekly users at organizations spending over $10,000 on Figma who used AI credits rose nearly 50% during the quarter. The share of work performed by Figma’s own AI model doubled, and the rate of users undoing AI‑generated output fell. Finance chief Praveer Melwani noted the move trades short‑term revenue for durable growth and that the firm is open to powering actions at lower latency or cost if it matches third‑party quality.

Market Context

Figma’s stock is down about 41% so far in 2026, while the S&P 500 index has risen 12%. A day earlier, rival design startup Canva announced a 22% staff cut, highlighting sector pressure.

Context

Design tools are increasingly adding AI features to stay competitive, and investors watch how such upgrades affect both short‑term earnings and long‑term user adoption.