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Figma beat revenue and earnings estimates for Q2, but heavier spending on AI and a decelerating growth outlook rattled investors
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Figma reported second-quarter revenue of $370.1 million on Wednesday, up 48% year over year and above its own guidance range, but the stock fell sharply in after-hours trading as surging AI-related costs weighed on margins.
Figma stock dropped 16.52% in after-hours trading. The decline arrived even though Figma cleared both the top and bottom lines: adjusted earnings per share of $0.08 topped Wall Street's $0.04 estimate, according to MarketWatch, which also put the analyst revenue consensus at $352 million.
