Aug 3, 2026 – 12.35pmAustralia’s biggest private technology company, Canva, is experiencing flat-lining growth in active monthly users, after reassuring investors revenue had jumped 30 per cent in the year to May.Street Talk can reveal Canva had 208 million monthly active users as of July. The company uses monthly active users to track product growth along with its revenue numbers.Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones.Kanika Sood is a journalist based in Sydney who writes for the Street Talk column.Angira Bharadwaj is a co-editor of Street Talk. She covers IPOs, capital raises, mergers and acquisitions and other breaking news in Australia’s capital markets. Previously, she covered financial services, state, and federal politics. Send tips to @angirab.60 on encrypted messaging platform Signal.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber?
Canva’s summer slump sets off jitters among staff
The privately owned company told investors it was experiencing strong revenue growth as of May, but the tech darling’s staff are sharing a more cautious story.
TL;DRAI
Canva's monthly active users flatlined at 208M in July despite 30% YoY revenue growth, alarming staff. Rising revenue per user without growth signals engagement weakness and churn risk—monetization gains masking product-market sustainability issues.
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