AI-extracted from the 10-Q filed 2026-08-05 — Q2 FY2026 (quarter ended June 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
Figma Q2 revenue jumped 48% YoY to $370.1M, but AI-driven cost increases and elevated operating expenses led to a $112.2M net loss as the company invests heavily in AI features and infrastructure.
Biggest Revenue Drivers
Subscription revenue from Figma platform$370.1M+48% YoY
Growth driven by 34% increase in Paid Customers with >$10K ARR and 46% increase in Paid Customers with >$100K ARR; Net Dollar Retention Rate 136%.
Biggest Revenue Drivers
Total revenue: $370.1M+48% YoY
Subscription revenue from Figma platform$370.1M+48% YoY
Growth driven by 34% increase in Paid Customers with >$10K ARR and 46% increase in Paid Customers with >$100K ARR; Net Dollar Retention Rate 136%.
Largest Expense Items
Research and development$167.3M+101% YoY
$70.8M increase primarily from $58.1M stock-based compensation post-IPO and $10.1M higher AI-related infrastructure costs.
Sales and marketing$154.9M+58% YoY
$32.4M from employee costs ($19.0M stock-based compensation post-IPO), $13.5M higher infrastructure for free users and AI rollout, $5.0M marketing spend.
Cost of revenue$60.5M+117% YoY
$27.1M increase in AI and hosting costs for paid user growth; $2.3M higher payment processing fees; $2.8M increased employee-related costs post-IPO.
General and administrative$104.7M+169% YoY
$68.2M increase primarily driven by $64.7M stock-based compensation expense post-IPO.
Margins: Gross margin declined to 84% from 89% YoY as AI infrastructure and inference costs surged $27.1M; operating margin fell to -32% from +1% YoY. The company expects AI investments to continue negatively impacting margins in the short term, with longer-term impacts unknown given the nascency of AI technologies.
Watch Items from the Filing
AI credit enforcement beginning March 2026 caused elevated customer support volume, public dissatisfaction, and reduced usage by certain customers; longer-term churn impact uncertain.
$556.4M in future non-cancelable hosting and infrastructure commitments ($184.8M due within 12 months) ties up significant cash and limits flexibility.
Stock-based compensation surged to $147.6M in Q2 (up from $7.3M YoY) post-IPO with $1.5B+ remaining unrecognized, creating substantial future P&L headwinds.
Reliance on limited number of third-party AI model providers for core features creates dependency risk; provider pricing changes or access restrictions could materially impact margins.
Net loss of $112.2M in Q2 2026 vs. $28.2M net income Q2 2025 signals profitability challenges; company maintains $445.8M cash and $1.2B marketable securities providing 12+ months runway.
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
6 transactions in FIG reported by 1 member of Congress under the STOCK Act, most recent trade Dec 26, 2025. Reported transactions, not recommendations.
About Figma, Inc. (FIG): stock profile, AI score and financials
Figma, Inc. (FIG) stock profile, AI quality score, and SEC EDGAR financial data, a Technology sector company. 13F Pro's AI-powered ranking engine scores FIG at 44.3/100 on a composite quality score built from its SEC filings, placing it at rank #1,929 of 2,925 stocks — the bottom half of the AI-ranked universe. FIG scores in the top quartile across institutional flow (94.5), revenue growth (84.8). Areas of concern include balance sheet strength (2.0) and profitability (6.7), which score below median versus the broader universe. Shareholder dilution risk is elevated at 2.4/100, reflecting ongoing share issuance or stock-based compensation. Based on the latest XBRL financial filings (Q2 2026), Figma, Inc. reports quarterly revenue of $370.1M, net income of $-112.2M, an operating margin of -31.7%. Top institutional holders of FIG by reported 13-F value include Greylock XIV GP, Index Venture Associates VI Ltd, SC US (TTGP), LTD., based on the most recent SEC filings. FIG trades on the NYSE exchange and files with the SEC under CIK 1579878. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate FIG daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for Figma, Inc. directly from SEC EDGAR.