Figma Revenue: $1.06 Billion in 2025, and Still Accelerating

Figma's revenue was $1.056 billion in fiscal 2025, up 41% from the $749.0 million it reported for 2024, per the fourth-quarter earnings release it filed with the SEC on February 18, 2026. And growth is accelerating, not cooling: the company booked $370.1 million in Q2 2026 (reported August 5, 2026), up 48% year over year — its third straight quarter of faster growth — and raised full-year 2026 guidance to $1.463–$1.467 billion. On a trailing-twelve-month basis through June 2026, Figma revenue stands at roughly $1.28 billion.

Figma has only published audited numbers since July 2025, when it filed its S-1 and listed on the NYSE as FIG. Everything before 2023 comes from GetLatka's tracking, not financial statements. This page keeps the two separate, and flags where they disagree.

Figma revenue by year

The audited record starts with fiscal 2023, the earliest year in the S-1's financial statements. Earlier rows are GetLatka database figures captured at the dates shown — tracking estimates, not filings.

A previous version of this article gave three different 2024 numbers — $400M in prose, $749M in a table, $820M in the headline — and put $505M in 2022. The filings settle it: 2024 was $749.0M, and $505M was 2023's figure.

Quarter by quarter since the IPO

Arithmetic check: the four 2025 quarters sum to $1,055.8M, matching the reported $1.056B full-year figure.

The re-acceleration is the story here. Most software companies at $1B+ decelerate; Figma went 38% → 40% → 46% → 48% across four quarters. Management attributes it to seat expansion, international growth (up 45% in 2025), and AI monetization — on the Q2 2026 call, the company said over 80% of paid customers above $10,000 in ARR were consuming AI credits weekly. Net dollar retention among $10K+ customers ran 132% at the S-1 (March 2025), 136% at December 31, 2025, and 139% at March 31, 2026 — which the company called its highest in over two years.

The $20B Adobe deal that died — and paid Figma $1 billion

On September 15, 2022, Adobe agreed to buy Figma for roughly $20 billion in half cash, half stock — at the time about 50x Figma's ARR. The deal never closed. After fifteen months of antitrust scrutiny, the two companies announced on December 18, 2023 that they were terminating the agreement, saying there was "no clear path" to approval from the European Commission and the UK's Competition and Markets Authority. Adobe paid Figma a $1 billion cash termination fee.

That fee is why Figma's 2023 income statement looks odd: the S-1 shows net income of $737.8 million for 2023, inflated by the Adobe payment. The 2024 line swings the other way — a $732.1 million net loss, driven almost entirely by a one-time stock-based compensation charge tied to the May 2024 tender offer that let employees sell shares at a $12.5 billion valuation. A third distortion hit Q3 2025, when the IPO triggered a $975.7 million one-time stock-comp charge. Strip the one-offs and the underlying business is profitable on an operating basis: fiscal 2025 non-GAAP operating income was $129.5 million (a 12% margin), with $242.7 million in adjusted free cash flow (23% margin), per the February 18, 2026 release.

One correction to the record: an earlier version of this article claimed the deal quietly faded with "no formal cancellation" and that Adobe then "doubled down on Adobe XD." Both are wrong. The termination was formal, dated, and paid for — and Adobe had already moved XD into maintenance mode, having stopped selling it to new users while the deal was pending; it did not revive the product afterward.

From S-1 to NYSE: FIG

Figma filed its S-1 publicly on July 1, 2025. The prospectus disclosed 13 million monthly active users — roughly two-thirds of them not designers — 450,000 paid customers as of March 31, 2025, and usage at 95% of the Fortune 500. The IPO priced at $33 on July 30, above an already-raised range, raising about $1.2 billion. On July 31, 2025, the stock opened on the NYSE under the ticker FIG and closed its first day at $115.50, up 250%, valuing the company near $68 billion, per CNBC's same-day reporting.

Before going public, Figma had raised $748.6 million across seven rounds: a $3.9M seed at a $10M valuation (2013), a $14M Series A at $34M (Dec 2015), a $25M Series B at $90M (Feb 2018), a $40M Series C at $400M (Feb 2019), a $50M Series D at $1B (Apr 2020), a $200M Series E at $9B (June 2021), and a $415.7M Series F at $12.5B (May 2024), per GetLatka's funding record. That $12.5B Series F mark is now a historical footnote — the public market has repriced Figma daily since July 31, 2025.

How Figma makes money

Figma sells seat-based subscriptions across a product line that has widened well beyond the original design canvas: Figma Design, FigJam, Dev Mode, and Slides, plus the AI-era additions launched in 2025 — Figma Make, Sites, Buzz, and Draw. Free tiers feed the paid funnel, and expansion inside existing customers does the heavy lifting, which is what a 136–139% net dollar retention rate means in practice.

The customer base skews broad with a thickening enterprise layer. Paid customers grew 54% year over year to roughly 690,000 as of March 31, 2026. At December 31, 2025, Figma counted 13,861 paid customers above $10,000 in ARR, 1,405 above $100,000, and 67 above $1 million, per the Q4 2025 release. Co-founder and CEO Dylan Field — who started the company in 2012 with Evan Wallace after leaving Brown University on a Thiel Fellowship — framed the Q4 2025 results around design moving to the center of the product development stack, whether work starts "in a terminal, a prompt box, with UI in the Figma canvas or a hand-drawn sketch."

Where GetLatka's database and the filings disagree