Figma (FIG) Q2 2026 earnings summary

Executive summary

• Q2 2026 revenue grew 48% year-over-year to $370.1 million, marking the third consecutive quarter of accelerating growth and driven by strong customer expansion and new product adoption.

• Net Dollar Retention Rate was 136%, reflecting robust customer expansion and retention.

• Significant product launches included Code Layers, Figma agent, and new creative capabilities, fueling AI adoption and platform expansion.

• Net loss was $112.2M for Q2 2026, primarily due to increased stock-based compensation and investments in AI and product development.

• Leadership transitions and executive changes were announced, including CTO, CPO, and CMO roles.

Financial highlights

• Non-GAAP gross profit was $314.0M, up 40% year-over-year, with a non-GAAP gross margin of 85%; GAAP gross profit was $309.6M.

• Non-GAAP operating income was $36.1M (10% margin); GAAP loss from operations was $(117.3)M.

• Free cash flow for Q2 was $53.2M, with a margin of 14%; operating cash flow margin was 16%.

• Cash, cash equivalents, and marketable securities totaled $1.7B as of June 30, 2026.

• Paid customers with more than $10,000 in ARR grew 34% year-over-year to 15,964; those with more than $100,000 in ARR grew 46% to 1,635.

Outlook and guidance

• Q3 2026 revenue guidance is $373.0–$375.0 million, implying 36% year-over-year growth at midpoint.

• Full-year 2026 revenue guidance raised to $1.463–$1.467 billion, 39% growth at midpoint.

• Full-year non-GAAP operating income guidance is $125.0–$135.0 million (9% margin midpoint).

• Guidance does not include revenue from products still in beta or early access.

• Management anticipates ongoing margin pressure from AI investments and evolving pricing models.