Figma (FIG) Registration Filing summary

Company overview and business model

• Operates a collaborative, browser-based platform for digital product design and development, serving over 13 million monthly active users as of March 2025.

• Offers a suite of products including Figma Design, FigJam, Dev Mode, Figma Slides, Figma Sites, Figma Make, Figma Buzz, and Figma Draw, with AI features integrated across the platform.

• Subscription-based revenue model with tiered plans (Starter, Professional, Organization, Enterprise) and role-based seat types; self-serve and direct sales channels target a broad customer base from individuals to large enterprises.

• 95% of Fortune 500 and 78% of Forbes Global 2000 companies used the platform in March 2025.

Financial performance and metrics

• FY2024 revenue was $749.0 million, up 48% year-over-year; Q1 2025 revenue was $228.2 million, up 46% year-over-year.

• Four-year compounded annual revenue growth rate as of FY2024 was 53%.

• FY2024 operating margin was (117)% due to one-time stock-based compensation events; non-GAAP operating margin was 17%. Q1 2025 operating margin was 17%, non-GAAP 18%.

• Net loss of $732.1 million in FY2024 (impacted by one-time events); net income of $44.9 million in Q1 2025.

• Net Dollar Retention Rate was 134% as of FY2024 and 132% as of Q1 2025; gross retention rate was 96% as of March 2025.

• Approximately 450,000 paid customers globally as of March 2025; 11,107 customers with >$10,000 ARR and 1,031 with >$100,000 ARR as of Q1 2025.

Use of proceeds and capital allocation

• Proceeds will be used to create a public market, increase capitalization and financial flexibility, repay outstanding indebtedness under a $500 million revolving credit facility (drawn to cover tax obligations from RSU settlements), and for working capital, product development, and potential acquisitions.

• No current agreements for material acquisitions or investments.