Core Insights - Figma's shares surged 229% after raising $1.2 billion in an IPO, valuing the company above $20 billion, which was previously tied to a now-scrapped merger with Adobe [1] Financial Performance - Figma reported a 38% year-over-year revenue growth in Q3, with revenue reaching $274.2 million, surpassing the expected $265.2 million [2][5] - The company's net loss increased significantly to $1.10 billion, or $2.72 per share, compared to a loss of $15.6 million, or $0.07 per share, in the same quarter last year [2] Adjusted Metrics - The adjusted earnings per share were reported at 10 cents, excluding a significant rise in stock-based compensation expenses [3][5] - Figma achieved an adjusted operating margin of 12%, exceeding the StreetAccount consensus of 6.5% [3] Product Adoption - Growth was partly driven by the adoption of Figma Make, which utilizes generative AI for app design, with about 30% of customers spending over $100,000 annually using it weekly [3][4]
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