Figma shares fell about 7% in extended trading on Wednesday after the design software company reported third-quarter results that beat Wall Street estimates but guided to slower revenue growth in the current quarter. The company reported adjusted earnings of 10 cents per share on revenue of $391.4 million, against analyst expectations of 5 cents and $375.8 million, according to LSEG consensus cited by CNBC.
Revenue grew about 43% year over year in the quarter, according to a company statement, and Figma's net loss narrowed to $81.3 million, or 15 cents per share, from a loss of $1.10 billion, or $2.72 per share, a year earlier. Its adjusted operating margin of 12% exceeded the 6.1% consensus among analysts polled by StreetAccount.
Figma, which began trading on the New York Stock Exchange in July 2025, has seen its shares fall about 41% so far in 2026, while the S&P 500 has gained 12%, CNBC reported. Earlier this year, investors became concerned that artificial intelligence models could pose a competitive risk to the company.
The company lifted its full-year forecast, now expecting an 11% operating margin, up from 9% as of August, and revenue of $1.497 billion to $1.499 billion, compared with $1.463 billion to $1.467 billion previously. Analysts surveyed by LSEG had expected $1.471 billion in 2026 revenue. For the fourth quarter, Figma sees revenue growth slowing to about 33%, while analysts had predicted 28% growth.
During the quarter, Figma started giving more AI credits to clients while maintaining prices. “What that means is you're potentially trading off near-term revenue, investing in your customers, and then allowing yourself to then grow durably over the long term,” Figma's finance chief, Praveer Melwani, told CNBC in an interview on Wednesday.
The number of weekly users working at organizations that spend over $10,000 on Figma who used AI credits increased by almost 50% during the quarter, the company said. The share of work performed by Figma's own AI model doubled, and the rate at which people undo AI-generated work has fallen. "If there's certain actions that we can power for our customers at lower latency, lower cost, or similar quality to third party, we're open to that as well," Melwani said.
Figma is also increasing its focus on cybersecurity, said Dylan Field, the company's co-founder and CEO. In recent months, AI agents have infiltrated systems at Hugging Face and other companies, CNBC reported. Clients are not asking Figma to become a security vendor, but the company must scrutinize "the security of all of our vendors right now," Field said.
Figma's announcement comes a day after highly valued design software startup Canva said it would cut 22% of its employees. Across much of the software sector, concern about AI disruption has largely subsided as incumbents have posted persistent growth, CNBC reported.
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Figma revenue growth year over year by quarter: actual and forecasts
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Actual revenue growth for the quarter ended September 2026, and company and analyst forecasts for the fourth quarter. Source: CNBC, company statement, LSEG
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Analysis
Why This Matters
Figma's results test whether investors will reward software companies that sacrifice short-term revenue to build AI features and retain customers.
The share decline shows that beating estimates is not enough when growth is decelerating and AI spending weighs on the outlook.
The company's raised full-year forecast signals confidence in its long-term strategy despite the market's skepticism.
Background
Figma is a collaborative design platform used by product and engineering teams. It went public in July 2025 and has faced questions about how AI tools that generate websites and apps could affect demand for its core design software.
Key Perspectives
Praveer Melwani, Figma finance chief: says giving more AI credits while holding prices means potentially trading off near-term revenue to invest in customers and grow durably over the long term.
Dylan Field, Figma CEO: says the company must scrutinize the security of all of its vendors right now, after AI agents infiltrated systems at Hugging Face and other companies.
What to Watch
Figma's fourth-quarter revenue growth, which the company expects to slow to about 33%.
Whether the increased use of AI credits translates into durable revenue growth in 2027.
Further developments in AI agent security incidents that could affect Figma's vendor relationships.
12 claims in this story checked against 1 source: 11 supported.
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SupportedFigma shares fell about 7% in extended trading after its third-quarter results beat estimates.US Top News and Analysis: “Figma shares tumbled 7% in extended trading after the company reported third-quarter results and guidance that surpassed Wall Street's predictions.”
SupportedFigma topped estimates and raised its full-year forecast.US Top News and Analysis: “Executives lifted the full-year forecast.”
Partly supportedFigma shares fell on Wednesday.US Top News and Analysis: “Figma shares tumbled 7% in extended trading after the company reported third-quarter results and guidance that surpassed Wall Street's predictions.”
SupportedFigma's adjusted earnings were 10 cents per share versus 5 cents expected, and revenue was $391.4 million versus $375.8 million expected.US Top News and Analysis: “Earnings per share: 10 cents adjusted vs. 5 cents expected Revenue: $391.4 million vs. $375.8 million expected”
SupportedFigma's revenue grew about 43% year over year in the quarter.US Top News and Analysis: “Figma's revenue grew about 43% year over year in the quarter, according to a statement .”
SupportedFigma's net loss narrowed to $81.3 million, or 15 cents per share, from $1.10 billion, or $2.72 per share, a year earlier.US Top News and Analysis: “Net loss narrowed to $81.3 million, or 15 cents per share, compared with a loss of $1.10 billion, or $2.72 per share, a year earlier.”
SupportedFigma raised its full-year forecast to an 11% operating margin and $1.497 billion to $1.499 billion in revenue.US Top News and Analysis: “Figma now anticipates an 11% operating margin, up from 9% as of August, and $1.497 billion to $1.499 billion in revenue, compared with $1.463 billion to $1.467 billion before.”
SupportedFigma expects fourth-quarter revenue growth of about 33%, while analysts had predicted 28%.US Top News and Analysis: “The company sees fourth-quarter revenue growth slowing to about 33%. Analysts polled by LSEG had predicted 28% growth.”
SupportedFigma's shares had fallen about 41% in 2026 while the S&P 500 had gained 12%.US Top News and Analysis: “Shares have come down about 41% so far in 2026, while the S&P 500 index has gained 12%.”
SupportedMelwani said the AI-credit strategy could trade off near-term revenue for durable long-term growth.US Top News and Analysis: “"What that means is you're potentially trading off near-term revenue, investing in your customers, and then allowing yourself to then grow durably over the long term," Figma's finance chief, Praveer Melwani, told CNBC in an interview on Wednesday.”
SupportedMelwani said Figma was open to powering some customer actions with its own AI if it offered lower latency, lower cost or similar quality to third parties.US Top News and Analysis: “"If there's certain actions that we can power for our customers at lower latency, lower cost, or similar quality to third party, we're open to that as well," Melwani said.”
SupportedThe number of weekly users at organizations spending over $10,000 on Figma who used AI credits increased by almost 50% during the quarter.US Top News and Analysis: “The number of weekly users working at organizations that spend over $10,000 on Figma who used AI credits increased by almost 50% during the quarter, Figma said in the statement.”