Figma (FIG) Q2 2025 earnings summary

Executive summary

• Q2 2025 revenue reached $249.6–$250 million, up 41% year-over-year, with record results and strong customer expansion.

• Net income for Q2 2025 was $28.2 million, a turnaround from a prior net loss, and non-GAAP operating income was $11.5 million (5% margin).

• Four new products launched, including AI-powered features, doubling the product portfolio and expanding platform capabilities.

• Completed acquisitions of Modyfi and Payload to enhance visual expression, animation, and developer tooling.

• Completed IPO on August 1, 2025, raising $393.1 million in net proceeds and converting all preferred stock to common.

Financial highlights

• Q2 2025 revenue: $249.6–$250 million, up 41% year-over-year; six months ended June 30, 2025: $477.8 million, up 43% year-over-year.

• Gross margin was 89% GAAP and 90% non-GAAP; operating income for Q2 2025 was $2.1 million (1% margin) GAAP.

• Non-GAAP operating margin was 5%; adjusted free cash flow margin was 24%.

• Net income per share (diluted) was $0.10 for Q2 2025.

• Cash, cash equivalents, and marketable securities totaled $1.59–$1.6 billion as of June 30, 2025.

Outlook and guidance

• Q3 2025 revenue guidance: $263–$265 million, implying 33% year-over-year growth.

• Full year 2025 revenue guidance: $1.021–$1.025 billion, 37% year-over-year growth at midpoint.

• Full year non-GAAP operating income expected between $88 million and $98 million.

• Management expects continued investment in AI and product development to impact gross and operating margins in the short term.

• Current liquidity is expected to fund operations for at least the next twelve months.