AI Generated Image
Figma Stock Falls Despite Beat-and-Raise Quarter
Benzinga • • business
Key Points:
- Figma reported strong Q2 results with revenue of $370.08 million, surpassing estimates of $351.56 million, and adjusted earnings of eight cents per share, beating the expected four cents.
- The company experienced 48% year-over-year revenue growth and generated $60.9 million in net cash from operations along with $53.2 million in free cash flow.
- Figma raised its Q3 revenue guidance to $373 million–$375 million, above estimates, and increased its full-year revenue outlook to $1.463 billion–$1.467 billion from the prior range of $1.422 billion–$1.428 billion.
- Despite strong financial performance and a net dollar retention rate of 136%, Figma shares dropped 16.52% in after-hours trading, falling to $23.50, indicating heavy selling pressure.
- The company highlighted growth in paid customers and AI credit add-ons, with executives scheduled to discuss the quarter further during an earnings call.
