Figma (FIG) Q3 2025 earnings summary

Executive summary

• Achieved record Q3 2025 revenue of $274.2 million, up 38% year-over-year, surpassing guidance and reaching a $1 billion annual revenue run rate.

• Accelerated customer growth and multi-product adoption, with strong traction for AI-driven products and over 50 new features launched.

• Net dollar retention for paid customers with ARR over $10,000 reached 131%, up 2 points quarter-over-quarter.

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

• Announced and completed multiple acquisitions, including Weavy and AI-powered media editing tools, enhancing AI and creative capabilities.

Financial highlights

• Q3 2025 revenue: $274.2 million, up from $198.6 million in Q3 2024, with gross margin of 86% (non-GAAP) and 69% (GAAP).

• Non-GAAP operating income was $34.0 million (12% margin); GAAP net loss was $1.10 billion, primarily due to a one-time $975.7 million stock-based compensation expense related to the IPO.

• Adjusted free cash flow was $49.0 million (18% margin); net cash from operating activities was $51.2 million.

• Ended Q3 with $1.6 billion in cash, cash equivalents, and marketable securities.

• Nine months revenue: $752.0 million, up from $532.1 million year-over-year.

Outlook and guidance

• Q4 2025 revenue guidance: $292.0–$294.0 million, implying 35% year-over-year growth at midpoint.

• Full-year 2025 revenue guidance: $1.044–$1.046 billion, 40% year-over-year growth at midpoint.

• Full-year non-GAAP operating income guidance: $112.0–$117.0 million.

• Q4 adjusted free cash flow margin anticipated to decline sequentially due to continued AI investments and one-time tax payments.

• Sufficient liquidity for at least the next twelve months, with $340.5 million in cash, $1.2 billion in marketable securities, and a $500 million undrawn credit facility.