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Company Research23 May 2025
Upcoming IPOs to Watch in 2025
Potential IPOs in 2025 include prominent names like Shein, Databricks, Klarna, eToro, and Figma, to name a few. Let's take a closer look.
Figma (FIG) investor relations material
Figma Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2025 earnings summary3 Sep, 2025
Executive summary
Q2 2025 revenue reached $249.6M, up 41% year-over-year, with record customer expansion and continued non-GAAP profitability.
Net income for Q2 2025 was $28.2M, a turnaround from a prior net loss, and non-GAAP operating income was $11.5M (5% margin).
Four new products launched, including AI-powered features, doubling the product portfolio and expanding platform capabilities.
Completed IPO on August 1, 2025, raising $393.1M in net proceeds and converting all preferred stock to common.
Acquisitions of Modyfi and Payload enhanced visual expression, motion, animation, and developer tooling.
Financial highlights
Q2 2025 revenue: $249.6M–$250M (up 41% YoY); gross margin: 89% GAAP, 90% non-GAAP; net income: $28.2M; non-GAAP operating margin: 5%.
Adjusted free cash flow margin was 24%; operating cash flow margin was 25%.
Net dollar retention rate for customers with >$10K ARR was 129%.
11,906 paid customers with >$10K ARR; 1,119 with >$100K ARR, up 42% year-over-year.
Cash, cash equivalents, and marketable securities totaled $1.6B as of June 30, 2025, including $90.8M in Bitcoin ETF.
Outlook and guidance
Q3 2025 revenue guidance: $263M–$265M; FY2025 revenue guidance: $1.021B–$1.025B, implying 37% YoY growth at midpoint.
FY2025 non-GAAP operating income guidance: $88M–$98M.
Management expects continued AI and product investments to impact gross and operating margins in the short term.
Current liquidity expected to fund operations for at least the next twelve months.
Will refine pricing/packaging and provide annual operating income guidance as new products scale.
How do new AI products drive platform growth?
What drives the 129% Net Dollar Retention?
How does extended lock-up affect stock supply?
What drives gross margin compression from AI?
Describe the planned consumption model rollout.
Outline the M&A criteria for large acquisitions.
Partial view of Summaries dataset, powered by Quartr API
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Next Figma earnings date
Q3 20253 Dec, 2025
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Frequently asked questions
Figma is a software company that provides a collaborative interface design platform used for user interface (UI) and user experience (UX) design. Its primary product enables teams to design, prototype, and gather feedback in real time through a browser-based environment. Figma also offers tools for vector graphics editing, design systems management, and developer handoff, aiming to streamline the digital product development process. The platform is widely used by designers, developers, and product teams across various industries to create and iterate on web and mobile interfaces. The company is headquartered in San Francisco, California, and its shares are listed on the NYSE.
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