Figma Raises Full-Year Revenue Outlook After Third-Quarter Beat

The Tip Desk · November 11, 2026 · 3 min read

Third-quarter revenue was $391.4 million, 43% above a year earlier and $16.4 million above the high end of prior guidance.

Figma, Inc. (FIG) reported third-quarter revenue of $391.4 million, 43% above a year earlier and $16.4 million above the high end of its prior guidance range.

The collaboration-software company said customers continued to expand seats and invest more deeply in the platform. Chief Financial Officer Praveer Melwani said the company is seeing customers move from trying AI to making larger commitments, and that the Figma agent is expanding how they use credits.

Year-over-year growth slowed from 48% in the second quarter, after three straight quarters of acceleration. Chief Executive Dylan Field said that as code becomes a commodity, value is moving up the stack to design, and that the quarter’s results reflect that shift. He described Figma as building a full-stack canvas for visual-first development, powered increasingly by a first-party model.

GAAP gross profit was $314.4 million, up 65% year-over-year, and GAAP gross margin was 80%. Non-GAAP gross profit was $321.1 million, up 36% year-over-year, and non-GAAP gross margin was 82%.

GAAP loss from operations was $119.2 million, or a 30% operating margin. Non-GAAP operating income was $47.0 million, a 12% margin. GAAP net loss was $81.3 million, or $0.15 a share. Non-GAAP net income was $53.7 million, or $0.10 a share.

Net cash provided by operating activities was $48.4 million, a 12% operating cash flow margin. Free cash flow was $41.5 million, an 11% margin. Cash, cash equivalents, and marketable securities were $1.7 billion as of September 30, 2026.

Net dollar retention rate was 131% as of September 30, 2026. Paid customers with more than $10,000 in annual recurring revenue numbered 16,566, an increase of more than 3,650 from a year earlier. Paid customers with more than $100,000 in ARR numbered 1,717, an increase of more than 450 from a year earlier.

From July 1 through October 31, 2026, weekly active users consuming credits among paid customers with more than $10,000 in ARR increased by almost 50%. As of October 31, 2026, on a weekly basis, 65% of those customers were using the Figma agent and over 80% were consuming AI credits.

During the three months ended September 30, 2026, the Figma MCP server was the company’s fastest-growing product as measured by growth in weekly active users. Total MCP usage grew 3 times quarter-over-quarter, and write-back usage grew 4 times quarter-over-quarter. In October 2026, Figma expanded the MCP server with integrations with 20 partners.

From July 1 through October 31, 2026, Figma more than doubled the share of work powered by its own post-trained design model. On October 14, 2026, it began rolling out Code Layers in open beta, which brings working code to the Figma canvas.

Figma is providing fourth-quarter 2026 revenue guidance of $402.0 million to $404.0 million, implying 33% year-over-year growth at the midpoint. Full-year 2026 revenue is now expected between $1.497 billion and $1.499 billion, implying 42% year-over-year growth at the midpoint and a raise of $33.0 million to previously issued guidance. Full-year non-GAAP operating income is expected between $158.0 million and $163.0 million, representing an 11% non-GAAP operating margin at the midpoint.