Figma(US:FIG) Xin Lang Cai Jing·2026-03-16 08:48Core Insights - Executives from enterprise software companies like Figma, Workday, and HubSpot have downplayed the threat of AI to their growth, despite ongoing concerns that have suppressed their stock prices [3][13] - There has been a significant increase in the number of software companies disclosing AI agents as a competitive risk, with 27 companies mentioning it this year compared to only 7 last year [3][13] - Figma's stock is currently below its IPO price, partly due to market concerns about its sales growth, and it has acknowledged that AI agents could change how users interact with digital products [3][13] Company-Specific Summaries - Figma: The company is under pressure, with its stock price below the IPO level. In its recent 10-K filing, it stated that AI agents could reduce reliance on traditional software applications. However, CEO Dylan Field downplayed the potential disruption from AI agents during an earnings call [3][13][14] - Adobe: In its January report, Adobe acknowledged increasing competition from generative AI and AI agent solution providers, warning that failure to compete effectively could lead to declining sales. Despite a 28% drop in stock price this year, Adobe's AI-related revenue has started to grow significantly [15][20] - HubSpot: The company's stock has lost nearly half its value over the past six months, with a 1% decline in sales growth reported in the last quarter. HubSpot has disclosed that customers can use AI to build internal CRM tools, emphasizing the need to convince clients of their product superiority [8][16][17] - Workday: The company has expressed concerns about maintaining market differentiation as AI tools rise. Its recent 10-K filing highlighted potential challenges in convincing clients of the value of its solutions. Despite these concerns, Workday's revenue growth has accelerated by about 2 percentage points compared to previous quarters [10][20][21] Industry Trends - There is a growing trend among software companies to explicitly mention AI agents as a risk factor in their disclosures, reflecting heightened investor concerns and contributing to stock sell-offs in the sector [6][15] - The emergence of AI companies like Anthropic and OpenAI, which are developing products that can automate programming and other white-collar tasks, is intensifying competition and risks for traditional software vendors [6][14] - The challenge of convincing customers to pay for new AI-related fees will be a critical test for enterprise software companies in the coming years [10][20]