Company Overview - Figma priced its IPO at $33 per share, above the expected range, raising $1.2 billion, primarily benefiting existing stockholders [1][3] - The IPO values Figma at $19.3 billion, following a failed acquisition by Adobe for $20 billion in 2023 [3] Financial Performance - For the quarter ended June, Figma's revenue increased to between $247 million and $250 million, a 40% growth compared to $177.2 million a year earlier [4] - The expected operating profit for the quarter ranges from a loss of up to $500,000 to a profit of $2.5 million, contrasting with a loss of $894.3 million the previous year [4] - In the March quarter, revenue rose 46% to $228.2 million, and net income tripled to $44.9 million [5] Market Context - Figma is entering a public market that has seen a gradual reopening for tech IPOs, with other companies like Circle and CoreWeave performing well since their debuts [2] - Major investors, including Index Ventures and Greylock, are selling portions of their stakes in the IPO [5][6]
Figma prices IPO at $33, above expected range