Figma Financials
This page shows Figma (FIG) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 3 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
Figma has an operating margin of -122.2%, meaning the company retains $-122 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is down from -117.2% the prior year.
Figma's revenue surged 41.0% year-over-year to $1.1B, reflecting rapid business expansion. This strong growth earns a score of 100/100.
Figma carries a low D/E ratio of 0.55, meaning only $0.55 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 91/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 2.58, Figma holds $2.58 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 83/100.
Figma converts 23.3% of revenue into free cash flow ($246.2M). This strong cash generation earns a score of 100/100.
Figma earns a strong 82.8% return on equity (ROE), meaning it generates $83 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 100/100.
Figma passes 3 of 9 financial strength tests. 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Figma generates $-0.20 in operating cash flow ($250.7M OCF vs -$1.3B net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
Key Financial Metrics
Figma generated $1.1B in revenue in fiscal year 2025. This represents an increase of 41.0% from the prior year.
Figma's EBITDA was -$1.3B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 46.6% from the prior year.
Figma generated $246.2M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 486.6% from the prior year.
Figma reported -$1.3B in net income in fiscal year 2025. This represents a decrease of 70.8% from the prior year.
Figma earned $-3.71 per diluted share (EPS) in fiscal year 2025. This represents an increase of 0.8% from the prior year.
Figma held $403.5M in cash against $0 in long-term debt as of fiscal year 2025.
Figma had 441M shares outstanding in fiscal year 2025.
Figma's gross margin was 82.4% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 5.9 percentage points from the prior year.
Figma's operating margin was -122.2% in fiscal year 2025, reflecting core business profitability. This is down 5.1 percentage points from the prior year.
Figma's net profit margin was -118.4% in fiscal year 2025, showing the share of revenue converted to profit. This is down 20.7 percentage points from the prior year.
Figma's ROE was 82.8% in fiscal year 2025, measuring profit generated per dollar of shareholder equity.
Figma invested $1.0B in research and development in fiscal year 2025. This represents an increase of 37.1% from the prior year.
Figma spent $0 on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 100.0% from the prior year.
Figma invested $4.4M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 124.8% from the prior year.
FIG Income Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|
| Revenue | N/A | $274.2M+9.8% | $249.6M | N/A | $198.6M+12.1% | $177.2M |
| Cost of Revenue | N/A | $83.9M+200.8% | $27.9M | N/A | $18.7M-52.7% | $39.6M |
| Gross Profit | N/A | $190.3M-14.2% | $221.8M | N/A | $179.9M+30.7% | $137.6M |
| R&D Expenses | N/A | $680.9M+719.8% | $83.1M | N/A | $104.2M-80.6% | $535.7M |
| SG&A Expenses | N/A | $371.4M+854.3% | $38.9M | N/A | $43.8M-80.1% | $220.0M |
| Operating Income | N/A | -$1.1B-54858.2% | $2.1M | N/A | -$47.3M+94.7% | -$894.3M |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | N/A | -$10.5M-196.6% | $10.8M | N/A | -$13.8M+75.4% | -$56.3M |
| Net Income | N/A | -$1.1B-3986.4% | $28.2M | N/A | -$15.6M+98.1% | -$827.9M |
| EPS (Diluted) | N/A | $-2.72 | $0.00 | N/A | $-0.07+98.4% | $-4.39 |
FIG Balance Sheet
| Metric | Q4'25 | Q3'25 | Q2'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|
| Total Assets | $2.3B+13.3% | $2.1B+1.9% | $2.0B+13.5% | $1.8B | N/A | N/A |
| Current Assets | $2.0B+8.7% | $1.8B+2.0% | $1.8B+10.4% | $1.6B | N/A | N/A |
| Cash & Equivalents | $403.5M+18.5% | $340.5M-45.2% | $621.6M+27.7% | $487.0M+17.0% | $416.1M-29.0% | $586.1M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $247.9M+58.9% | $156.0M+25.1% | $124.7M-5.0% | $131.3M | N/A | N/A |
| Goodwill | $101.4M+313.2% | $24.5M0.0% | $24.5M+115.3% | $11.4M | N/A | N/A |
| Total Liabilities | $837.6M+22.3% | $684.7M+12.7% | $607.4M+29.5% | $469.1M | N/A | N/A |
| Current Liabilities | $776.1M+24.7% | $622.5M+13.9% | $546.6M+22.3% | $447.0M | N/A | N/A |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $1.5B+8.8% | $1.4B-2.7% | $1.4B+7.8% | $1.3B+13.3% | $1.2B+35.5% | $862.4M |
| Retained Earnings | -$1.4B-18.6% | -$1.2B-915.7% | -$119.8M+37.9% | -$192.9M | N/A | N/A |
FIG Cash Flow Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $39.9M-22.0% | $51.2M | N/A | $73.1M+18.7% | $61.6M | N/A |
| Capital Expenditures | $734K-56.9% | $1.7M | N/A | $662K+60.3% | $413K | N/A |
| Free Cash Flow | $39.2M-20.8% | $49.5M | N/A | $72.4M+18.4% | $61.2M | N/A |
| Investing Cash Flow | -$77.0M+70.5% | -$260.9M | N/A | -$63.5M+69.9% | -$210.9M | N/A |
| Financing Cash Flow | $99.0M+238.6% | -$71.5M | N/A | $61.2M+396.3% | -$20.7M | N/A |
| Dividends Paid | $0 | $0 | N/A | N/A | N/A | N/A |
| Share Buybacks | $0 | $0 | N/A | $0 | $0 | N/A |
FIG Financial Ratios
| Metric | Q4'25 | Q3'25 | Q2'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|
| Gross Margin | N/A | 69.4%-19.4pp | 88.8% | N/A | 90.6%+12.9pp | 77.7% |
| Operating Margin | N/A | -414.6%-415.5pp | 0.8% | N/A | -23.8%+480.9pp | -504.7% |
| Net Margin | N/A | -400.1%-411.4pp | 11.3% | N/A | -7.8%+459.3pp | -467.2% |
| Return on Equity | N/A | N/A | 2.0% | N/A | N/A | N/A |
| Return on Assets | N/A | -52.9%-54.3pp | 1.4% | N/A | N/A | N/A |
| Current Ratio | 2.58-0.4 | 2.96-0.3 | 3.31-0.4 | 3.66 | N/A | N/A |
| Debt-to-Equity | 0.55+0.1 | 0.49+0.1 | 0.43+0.1 | 0.35 | N/A | N/A |
| FCF Margin | N/A | 18.0% | N/A | N/A | 30.8% | N/A |
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Frequently Asked Questions
What is Figma's annual revenue?
Figma (FIG) reported $1.1B in total revenue for fiscal year 2025. This represents a 41.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Figma's revenue growing?
Figma (FIG) revenue grew by 41% year-over-year, from $749.0M to $1.1B in fiscal year 2025.
Is Figma profitable?
No, Figma (FIG) reported a net income of -$1.3B in fiscal year 2025, with a net profit margin of -118.4%.
What is Figma's earnings per share (EPS)?
Figma (FIG) reported diluted earnings per share of $-3.71 for fiscal year 2025. This represents a 0.8% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is Figma's EBITDA?
Figma (FIG) had EBITDA of -$1.3B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Figma's gross margin?
Figma (FIG) had a gross margin of 82.4% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Figma's operating margin?
Figma (FIG) had an operating margin of -122.2% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Figma's net profit margin?
Figma (FIG) had a net profit margin of -118.4% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Figma's return on equity (ROE)?
Figma (FIG) has a return on equity of 82.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Figma's free cash flow?
Figma (FIG) generated $246.2M in free cash flow during fiscal year 2025. This represents a 486.6% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Figma's operating cash flow?
Figma (FIG) generated $250.7M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Figma's total assets?
Figma (FIG) had $2.3B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Figma's capital expenditures?
Figma (FIG) invested $4.4M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Figma spend on research and development?
Figma (FIG) invested $1.0B in research and development during fiscal year 2025.
How many shares does Figma have outstanding?
Figma (FIG) had 441M shares outstanding as of fiscal year 2025.
What is Figma's current ratio?
Figma (FIG) had a current ratio of 2.58 as of fiscal year 2025, which is generally considered healthy.
What is Figma's debt-to-equity ratio?
Figma (FIG) had a debt-to-equity ratio of 0.55 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Figma's return on assets (ROA)?
Figma (FIG) had a return on assets of -53.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Figma's Piotroski F-Score?
Figma (FIG) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Figma's earnings high quality?
Figma (FIG) has an earnings quality ratio of -0.20x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Figma?
Figma (FIG) scores 79 out of 100 on our Financial Profile, indicating strong overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.