Figma Reports Strong Q4 and Full-Year 2025 Results, Driven by AI Adoption and Global Growth
Figma has announced its financial results for the fourth quarter and full fiscal year ended December 31, 2025, highlighting robust revenue growth, expanding enterprise adoption, and increasing traction for its AI-powered platform. The company reported record quarterly performance and closed the year with strong cash generation, reinforcing its position as a central tool in modern product development.
Record Quarter Caps a Transformational Year
Figma co-founder and CEO Dylan Field described 2025 as a defining year for the company, emphasizing the growing role of design and AI-driven workflows across the product development lifecycle.
According to Field, the fourth quarter represented the company’s strongest performance to date, driven by accelerated revenue growth and increasing customer adoption. He noted that Figma’s platform now sits at the center of how teams build digital products, whether their work begins in a terminal, a prompt interface, a design canvas, or a hand-drawn sketch. Field emphasized that successful products emerge from exploration, craftsmanship, and a clear point of view—capabilities that Figma aims to enable through its integrated platform.
Chief Financial Officer Praveer Melwani added that the fourth quarter delivered the highest level of net new revenue in the company’s history. Growth was fueled by platform-led adoption across both enterprise and international customers. He also pointed to improvements in the company’s Net Dollar Retention Rate and strong cash flow generation as indicators of durable, scalable growth.
Melwani highlighted that Figma ended the quarter with a 13% operating cash flow margin, supported by a healthy balance sheet and positive free cash flow. This financial flexibility, he said, allows the company to continue investing in AI capabilities and platform innovation while maintaining disciplined, long-term growth.
Fourth Quarter 2025 Financial Performance
Figma reported fourth-quarter revenue of $303.8 million, representing a 40% year-over-year increase and exceeding the company’s previously issued guidance.
However, on a GAAP basis, the company posted an operating loss of $195.5 million, translating to a negative operating margin of 64%. On a non-GAAP basis, performance was significantly stronger, with operating income of $44.0 million and a 14% operating margin.
Cash generation remained healthy. Net cash provided by operating activities reached $39.9 million, resulting in an operating cash flow margin of 13%. Adjusted free cash flow came in at $38.5 million, also representing a 13% margin.
Figma reported a GAAP net loss of $226.6 million, while non-GAAP net income totaled $43.0 million. On a per-share basis, GAAP net loss was $0.44, while non-GAAP net income per share was $0.08.
The company ended the quarter with $1.7 billion in cash, cash equivalents, and marketable securities, providing substantial liquidity to fund future growth initiatives.
Full-Year 2025 Results
For the full fiscal year, Figma reported revenue of $1.056 billion, marking a 41% year-over-year increase. International revenue grew even faster, rising 45% year over year, reflecting strong global demand for the platform.
Despite the strong top-line growth, GAAP results were significantly impacted by a one-time stock-based compensation expense related to the company’s initial public offering. This resulted in a GAAP operating loss of $1.3 billion and a negative operating margin of 122%.
Excluding these non-cash and one-time items, the company delivered non-GAAP operating income of $129.5 million and a 12% operating margin, indicating improving operational efficiency.
Operating cash flow for the year reached $250.7 million, with a 24% operating cash flow margin. Adjusted free cash flow totaled $242.7 million, translating to a 23% margin.
On the bottom line, Figma reported a GAAP net loss of $1.3 billion for the year, largely due to the IPO-related compensation charge. On a non-GAAP basis, however, the company generated net income of $166.8 million.
GAAP net loss per share for the year was $3.71, while non-GAAP net income per share was $0.32 basic and $0.30 diluted.
Strong Customer and Usage Metrics
Figma’s customer metrics showed continued expansion across enterprise segments:
- Net Dollar Retention Rate: 136% as of December 31, 2025
- 13,861 customers with more than $10,000 in ARR
- 1,405 customers with more than $100,000 in ARR
- 67 customers with more than $1 million in ARR
These figures indicate strong upsell and expansion trends within the existing customer base, particularly among larger enterprise accounts.
Rapid Adoption of AI-Powered Tools
One of the most notable developments in the fourth quarter was the rapid adoption of Figma’s AI-driven capabilities, particularly Figma Make.
Weekly active users of Figma Make grew more than 70% quarter over quarter. Among customers with more than $100,000 in annual recurring revenue, more than half used Figma Make on a weekly basis during the final three months of the year.
Additionally, over 80% of Figma Make’s weekly active users on full seats also used Figma Design during the same period. This indicates strong cross-product adoption and growing reliance on AI workflows within the platform.
Product and Platform Innovations
Throughout the fourth quarter, Figma introduced several new features and integrations aimed at expanding its AI capabilities and strengthening its role in the product development stack.
Expanded AI Model Support
Figma enhanced Figma Make by adding support for experimental models such as Gemini 3 Pro and Claude Opus 4.6, allowing users to leverage advanced AI capabilities within their design and prototyping workflows.
Make Connectors
The company launched Make Connectors, which allow users to pull in data from external tools—including Atlassian, GitHub, Notion, and Linear—to use as context for applications and prototypes.
Integration with AI Coding Tools
Figma also released a new integration that allows user interfaces generated in Claude Code to be imported directly into Figma’s canvas as editable layers. Teams can then refine, duplicate, and iterate on those interfaces collaboratively.
New AI Image Editing Tools
The company introduced three new AI-powered image editing tools designed for precision editing directly inside the Figma canvas. These features aim to streamline creative workflows without requiring external design tools.
Acquisition of Weavy
Figma acquired Weavy, now rebranded as Figma Weave. The tool brings multiple leading AI models together with professional editing capabilities on a single browser-based canvas, further expanding the company’s AI platform strategy.
Partnership with Anthropic
In partnership with Anthropic, Figma launched the Figma MCP app within Claude. This integration allows users to turn conversations into diagrams, flowcharts, or Gantt charts directly in FigJam.
Expansion in ChatGPT Integration
Figma also expanded its integration with ChatGPT, enabling the generation of FigJam diagrams, marketing artifacts, and presentation slides directly from the AI interface.
Investment in India and Global Expansion
As part of its international growth strategy, Figma opened a new office in Bengaluru, one of India’s major technology hubs. The company also announced local data hosting and governance support for enterprise customers.
India is now Figma’s second-largest market by monthly active users, underscoring the importance of the region to the company’s global growth plans.
